Member Info for Fitter

If Angus had offered me shares @ 9p last Friday I would certainly have bought as many shares as I could, on the proviso that the discounted share was only available to existing shareholders.

Are there any PI’s out there that would not?

Over the years one of the odd things I have noted and wondered about is the rationale behind companies raising additional funds by offering a new share allocation. In this case Angus wants to raise 2m so they say they will offer more shares @ 9p which was well below what their existing share was trading at, at the time of the RNS.

I can think of no occasions when a company has announced the value of the new share when the existing share price has not plummeted to meet the lower share value.

Surely, knowing the existing share price will fall to meet the 9p announcement Angus should not have done this. It would have made more sense to offer the new allocation at say 24p, it is still well below what the estimation of the company is worth, it would move the share price in a more positive direction, encourage more investors in to the company, they would still raise their 2m but would do so by offering fewer shares.

Instead like so many companies before them they have set a target price which causes panic sells amongst investors resulting in the lowering of the nett value of the company!!!!

Don't know if its of any help but about 3 weeks ago I decided to sell-up and took a hit for 28k. What little I got for the shares I put into UKOG at 1.6, today its moving towards 6. If UKOG continues at its current rate I could recover all my losses in a couple more weeks.

why is this back?

If the take-over falls through for any reason the SP could go either way, so you may yet make a few pounds. I have held shares in other companies that have been involved in take overs and in some instances the share is suspended and it can take many months before you get your money for the shares. Being the eternal optimist I am holding my shares just in case.

As far as I recall, but hold me to this, MEC accepted an offer of 155 per share as a take-over price. Many shareholders including myself thought this to be a bit low, I would have said about 220 would have been a better price. The sell-out was more or less agreed but they then ran into difficulties and had to apply for some kind of licence before the takeover/merger could go ahead. Based on yesterday’s announcement it looks like the way has been cleared for the merger to take place. So if you have already got shares in MEC in a few weeks’ time they will be taken off you and you will be given 155 per share regardless what you paid for them. If you haven’t yet got any shares it probably ain’t worth buying any at todays price.

Thanks.

Anyone know what the last date was to qualify for dividends?

I’m no expert in share dealing and of late have taken a few losses my self. In terms of AIB I have twice your problem having 20,000 shares. First thing I would like to say is that if your broker can get 0.32 for AIB let me know who they are, for that price he can have mine. AIB shares are being traded in the normal way albeit on a minor part of the Irish exchange. This apparently is because some years ago the company was worth about £24 billion and now its worth about £400 million, I think the Irish government has adopted the approach of ‘Out of sight out of mind’. Apparently AIB will continue trading for the foreseeable future and continue to do all the normal company things like shareholders meetings and even someday pay dividends. But for now if you want to buy and sell AIB shares you can continue to do so if you find a broker who will use the Irish exchange. I think AIB will still be around in ten years time, at least that’s what I believed when I first started to buy shares in AIB (long term safe investment) – ha. Part of the pension plan, don’t you know. My pension was safe it was with a bank or two – ha. When I first bought into AIB it was @ £1.70 and was part of a long term plan which despite of everything I still think is sound. If you don’t need the money now, leave it where it is and in two or three years I’m sure the sp will have risen to £0.87. If you do need the money take the 0.32, it sounds good to me. But hey, who’d take advice from someone stuck with 20,000 shares.

I’m no expert here but I think that although the recent news releases were good and positive in nature in them selves were not an indication that the company was worth anymore, hence no rise in SP. That said I always try to gear my portfolio towards the medium to long term investment. To that end I reckon that this is a good choice. When the refinery gets in to full swing they will have a saleable commodity and the SP should start to slowly rise. When they develop their own crops, that should also increase the SP. I would not expect any dramatic changes to the SP, I think its likely to be a slow steady rise throughout the summer, perhaps reaching 12p.

I got in @ 50 and left as the price went down to 1.05, unfortunately I didn’t have very many. Although I think the SP should be closer to 2 Euro than 1, I think the SP is still likely to fall over the next week, it could see 70 again. That said, if your looking for a medium term investment I could easily see 3 Euro before the end of the year.

Thanks for the info, its useful and annoying at the same time. I’ve been experimenting a bit and here’s the annoying thing; I have 20,000 shares in Biofutures and amongst other things I have 20,000 shares in an Irish bank which shall remain nameless (I can’t stand the shame - what a clot I am). Anyway, my online account will quote me for a further 20,000 bank shares if I was so lame-brain as to want to buy them but still will only allow me to buy £356 worth of Biofutures. Its totally mad, you can buy shares in a company going down the tubes but you can’t buy more shares in a rising star. Thanks again for the info.

Thanks, I have a trading account with ComputerShare.

I’m a bit new to this share trading so perhaps someone with more experience can tell me why I can’t buy more shares. I bought few thousand last year without any problems but when I tried to buy yesterday my online account limited me to £356 worth. Its not my personal £ limit because if I try to buy shares in other companies my online trading account will let me spend many thousands. So is there anyone know why I should be limited to only £356 worth of additional shares. Thanks.