Member Info for dickies

If the business has continued to progress in manner of previous update I.e. finally now cash generative, then hopefully another run up of the share price similar to a couple of years ago may occur

Got my cheque today so can confirm a 0.04p interim dividend been paid - so for anyone holding indirectly then keep an eye out for the money

Pretty terrible comms from company - I will be keeping a keen eye on my post in coming days for a nice cheque hopefully!

Accounts for year still not published / overdue now given we’re supposed to be in by end of December. Hmm

If and when I see anything on this will post an update.

Received an updated circular from octagonal today with some special resolutions to vote on:

- proposed reorg of capital to create distributable reserves
- adoption of new articles
- notice of aim

Intention seems to be to enable a buy back programme as part of finally appointing a firm for matched bargaining facility to allow share trading.

Also doing something to merger reserve account to issue these to shareholders and then cancel (not sure if this means a pay out from the reserve account for these or if it is just for buyback)

Got my cheque for directly held shares this morning

Not going to post the whole thing as someone has done so already on advfn site l, but had letter from octagonal this morning on 6 month update:

Revs down to 3.5 from 4.8m
Operating profit down to 0.47 from 1.86m
Cash balance 7.11 up from 6.84

Decline down to stopping the services associated with sec investigation. Been working on ensuring no further compliance issues likely to arise. Undertaken some cost cutting measures to reduce operational overheads.
Figures include the legal costs relating to sec complaint. Further update to come on that separately.

Gis hk now making a profit 127k vs loss of 155k. Net cash here 613k

Synergis a pile of proverbial

***Dividend of 0.1p per share being paid on 17 December***

Matched bargaining - no update!

6 to 8 weeks until details of settlement apparently - a second merry Christmas in a row possibly

Got some post this morning from Octagonal along with a paper copy of gis annual report For the benefit of those who still hold shares through brokers / may not see:

Consolidated group account due shortly with a GM to follow, one of reasons to seek shareholder permission to create reserves for potential share buy back program

Share buyback - Oct been speaking with 2 orgs about matched bargaining facility - some conditions to be agreed but should be in a position. To implement this for the share buyback in first instance and shareholder to shareholder afterwards.

Oct plan to maintain existing annual dividend policy subject to liquidity etc once group accounts published

Sec complaint - no update

Synergis - made a provision of 537k for this but sounds like as you may expect going nowhere and may look to partner or sell off licenses etc to close it off.

I guess that depends on what happens with the SEC investigation. There’s $1m set aside in the GIS results for that so depends how realistic that is.

I wouldn’t give up hope just yet - GIS turnover didn’t seem to drop off post the SEC investigation in December even though GIS stopped the services that were in the frame - whether that means the gap has been plugged with other increased income elsewhere remains to be seen.

The next 12 months will tell I guess - along with whether any viable means of trading these is actually delivered as promised.

I got my share certs for some of mine. You would need to physically request that these are rematerialised by HL to do - for example if they were in a SIPP then they would keep them there.

It is poor that OCT haven’t spent a couple of hours updating the website properly. I would expect some sort of update in April as to the level of impact on the business of the SEC case and what’s happening with that.

Yes I had some in isa - now I have a fancy certificate that may or may not end up being worth a decent amount. Can’t hold unlisted shares in isa so had the choice of them sitting in trading account or having them here and potentially available to trade when matched bargaining facility available. I suspect later this year as but back suggested for the autumn, but does depend on the sec investigation and the impact it has had on ongoing business operations

Got my rematerialised share certs today - hoping they don’t become something to frame as a painful reminder and can look at my options once the matched bargaining service is announced

Got dividend first thing this morning. One minor positive on the last month. All eyes on tomorrow vote - hard to see how anyone other than the directors/insiders will vote yes to delist but equally hard to see how they won’t get the required % anyway as I’d expect that there will be plenty who don’t vote at all.

Thanks - you can do the same on ii by turning on the voting notifications - did it before Christmas and it popped up the same day

What a great last 7 days it’s been.

Read the octagonal website - it has the high level details on this beyond delisting.

The Company will appoint a firm (duly authorised and regulated by the Financial Conduct Authority) to operate a Matched Bargain Facility. The purpose of a Matched Bargain Facility would be to enable Shareholders to trade their Ordinary Shares by matching buyers and sellers through periodic monthly and/or quarterly auctions. Shareholders will continue to be able to hold their Ordinary Shares in the CREST uncertificated form and should check with their existing stockbroker that they are able to trade unquoted shares. Several stockbroker firms are able to do so. The Company will provide information to its Shareholders of the proposed facility in due course. This information will be available on the Company’s website under Investor Relations (https://octagonalplc.com/investor-relations/).

Most shareholders, and especially those who may want to sell their shares at short notice, have been sold down the river by this move, regardless of any benefits mentioned to the company. At the least the company should have been offering to buy shares at a reasonable price from those who don’t want to hold unlisted shares. I hold most of mine in ISA and so at very least will be losing associated tax benefits assuming it delists. I had no plans to sell any time soon, but not sure if i want to keep shares when unlisted or not / there are big questions of trust here, which others have admittedly called out before, that have come to fruition.

I am glad the dividend has been maintained - although hard to justify not given that money in hand is up significantly on last year (plus 50% of it goes to Gunn anyway). Hopefully by next year they will be in a position to increase it as this is 4 years @ 0.1p I think.

In past years the dividend has been declared with half year results so a moot point for next 6 months

Put in a lowball limit order just in case - someone has offloaded a number of shares for .6 i.e. valued at 50% cash in hand as of last update

It’s not like the company has no cash at hand, high outgoings and no prospective income for coming months, although you’d not believe it based on current valuations