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Sold the last of my holdings today. If and i mean IF, GCM do manage to get a new nomad and sort out financing then I may dabble with GCM in the future but all squabbles with other posters put to one side, I seriously doubt this company will achieve both. I have asked myself numerous times, what is in it for Tang and the rest of the company to keep this company on AIM?
Once private he can do as he pleases. GCM have no money, POLO have no money, China won't bail him out. He could sell the license or even liquidate the company and then get the liquidators to sell it back to his new company for pence (other AIM companies have done this) Not saying it will happen, but its a possibility and funding was a major problem last time.
Good luck to those that hold I genuinely hope this works out for you.
I have HIAB on ignore as he is a 25 year old child spouting rubbish form his bedroom. The price is 8p and falling. If this company is in such good shape how come the price is falling? How is Polo expected to bail out GCM again when it had about £1m left in the bank at the end of 2019? If you have shares in a company that you can not sell to anyone other than the company itself who will offer next to nothing (if anything), that's not an investment. When a company hasn't enough money to exist, its not a company its a liability. For those who think that you can cash in if the deal goes through after delisting, your in denial. No cash, No bail out position, No Nomad, which part of these facts is is a con?
I've been busy with my investments in Shell, BP, HSBC, L&G so I've increased enough to cover any losses here from my reduced exposure but it doesn't matter what anyone tells you. you won't listen and you know best so good luck to you.
The biggest problem is that people think companies on AIM act and are obligated to work like those on FTSE, they aren't. The only winner from this company is going to be Tang, in addition to his £303k annual salary. https://www.erieri.com/executive/salary/michael-tang-3zr5
As for preferential statement, if you steal a grand no one cares, you steal a few million they come after you. If you think the large investors didn't get some re-assurances from a company board hemorrhaging cash, your in denial. I've been here since 2007 and seen the price at over £2 to 3p and I've never been more sure of this companies future.
Your money, your choice.
Although paid by the listed companies that they represent, Nomads may deem it appropriate at times to resign from their position and/or report the company it regulates if persistently failing to meet the AIM rules and regulations that they are there to advise upon. This would be to avoid being fined by the London Stock Exchange for failing to properly police the market.
Under such circumstances, where the Nomad had relinquished its responsibilities towards a particular company, the company’s shares are suspended from trading and then delisted if no replacement is found within 30 days.
https://aim-watch.com/project/advisers-brokers-on-aim/
" so if anyone was waiting in the wings to take over BT have they left it too late??? "
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personally i can not see ANY UK government allowing a foreign company to own openreach so it would have to be split from BT before sale. No government would allow the control of all of their telecommunications to be governed by a non-uk company let alone one that could either sell the data or out source it to india or somewhere a few years later.. Also as both companies have direct access to military and political offices i dont know of an alternative either would trust. These services would have to be removed also.
With this in mind i can not see anyone buying BT either now or in the future as long as open reach is joined.
Just my thoughts.
Fusion98
Actually the UK is the 5th largest economy of the world and while California creates more GDP than most states put together, if you removed the bloated tech companies out, it would be worth less than Idaho.
Regulation in the UK is there to protect the consumer from companies screwing them over and choosing not to provide the basic amenities like a phone or internet access, you know just like in the United States.
The UK government under Thatcher stipulated that telephones were listed under basic amenities right beside water, gas heating and electricity which is why every household in the UK has access to a landline at least, not so in other countries.
With this legislation she allowed privatisation of BT but stipulated that Openreach was off limits to outsiders for a limited time.
its a great idea and one i am in favour of. The only fly in the ointment however is bang agreeing to sell coal for power when they don't seem to have enough coal for their own power stations. Lets hope that common sense returns and Phulbari gets mined either for export or domestic, eithers fine with me. :0)
BlueStorm, give it a rest.
Whether you agree or not this share has previously hit £9 per unit however the number of shares in issue since then has more than trebled. The chances of it re-occurring are slim to none, that we can agree.
Having a go at some one who was fairly polite until provoked who is also in remission for terminal cancer is a bit low even for this board.
IF you don't like what he has said put him on ignore.
Fusion98
CLUE....
The Company is currently in negotiations with PowerChina with the intention to include PowerChina as a party to the Framework Agreement in due course.
this means that GCM is asking nicely for them to join, Until you see an RNS acknowledging they have joined, they are not party to this agreement.
Read the RNS again, you appear to have picked specific parts to suit your argument without acknowledging that the deal you so triumphantly quoted WAS time sensitive, that TIME has now expired.
Let me put in terms even you can understand. What happens when you take out a 24 month guarantee on an electrical device you buy from a shop and it breaks after 25 months?
If you don't understand the question, get someone to read it to you.... slowly.
I would also like to ask, what did you expect Tang to say in the RNS apart from blowing his own horn, that's his job!
There is no legal requirement for a company to publicly acknowledge a backer has walked away, this information usually comes from the backers themselves. Unless you hear otherwise, your assumption is correct, they have left.
As for why the board is so quite, its difficult to maintain a conversation with some members who insist on shouting nonsense or option as if its fact, while ignoring actual facts. Most of the cringeworthy idiots on this board have left supporting Trump and joined here it would seem.
red leader, its more likely to end this way
https://www.youtube.com/watch?v=oxHN4fje33w
Sunny63
Despite what others may tell you, we are all in the same boat. We have all bought just before the fall and all have been caught on spikes or trying to catch a falling knife thinking they have found the bottom, don't panic.
Here are my tips to you which i have learnt the hard way.
1) DO NOT invest in AIM
2) buy a company you understand, if you don't know what they do or how they make money, walk away
3) DO NOT BUY AIM
4) Look at debt levels of a company, its cheap to own debt now but in 3 years who knows interest rates might be 5%. If they have more than 2.5x of debt to annual earnings (like BT) then walk
5) don't listen to people who tell you "its a sure thing" or "there is so much product in the ground". A product in the ground means jack **** as you can not sell it.
6) Look at the share price over a minimum of 5 years, if the trend is down, walk, if the average price is near, walk, if the average price is say £5 and the current £2.5 look into why, it could just be Covid, its probably not.
7) DO NOT buy AIM
8) Has the share price risen significantly recently (80%+) or is it a new company, walk it will probably crash just as fast.
9) NEVER invest money you have borrowed.
10) NEVER get attached to your investment, its not personal, its a purchase. Some will not sell at a loss even though its never coming back up, me included.
11) BEST FOR LAST - Do you believe with the information you have today that the company has a possibility of going under?
I now stick to FTSE 100 companies only. When it looks like Covid is over and Brexit is done (say feb 2021) I would personally look at Bank Shares once more, Pharmaceuticals are good but expensive, insurance is usually a good revenue earner, stay away from builders until May 2021. Lloyds is in a world of pain if Brexit is a load of tosh and jobs disappear over night.
Fusion98
at least you admitted that there is a possibility of GCM going under. While you contemplate this, how about you ask yourself where the day-today running costs (£1.3m pa) are going to be funded from? Polo is out of the question with less than £1m in the bank before being delisted, the Chinese certainly won't pay up for that and last time they couldn't get outside help either which is why Polo got fleeced. Now with a pandemic in full swing, international lenders going against carbon investments and the bang government "reviewing" all power stations which are approved (GCM still not submitted never mind approved) who is going to cough up? Tang himself? PMSL
The 5% jump from Bidens win is starting to appear but as that train is yet to arrive i've decided to stay and ride the rise for a while. IT won't last forever but its always nice to see a winner in the portfolio for once.
Good luck all, Fusion98
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I've bought in today at 179p with a look to getting out around 200p by end of Jan 2021