Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Price dropping to a more realistic level which is 2.75 p per share (at the most) rather than rising Pearls. Even so, would you be silly to buy even at that price?
Dear Pearls, I am sorry to take issue with what you say, yet again but you are a fool to suggest that by marking the prices lower turnover will increase and therefore the price will increase. Rubbish!! Face facts, the price is being marked down because nobody sensible wants to buy shares in a rigged and failed Company. You admit you are not giving independent opinion in your posts, having confirmed that you own a block of shares and that you are sitting on a loss. Perhaps you can stop trying to ramp up the shares and instead face reality. Alternatively, sell up, take your loss and spare us your Pearls.
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You are right Pearls you do not get it. These are Venture Capitalists who are going to take the firm private and asset strip, once they are ready. They are not interested in share price, Only collecting the interest on their loans to the Company and now also using the Company as a vehicle to make a profit on the investment stock which it bought from the Receivers. Once they have milked the Company dry (and had their loans repaid), they will take the Company private and sell it on for a Capital Gain. Clever for them, but I'm afraid that you are all simply hanging on to a falling star!!
Pearls, you ask why turnover and the share price had dropped and that the share has gone to sleep but sadly fail to recognise the facts!! As I have said before, there has been the biggest corporate rip off of a company for many years! 58%.of the company "sold" for 2.75 p per share, an option to acquire further shares at that price , sufficient to give them the ability to take the company private on a compulsory basis at the price of 2.75 p per share (at the last price they paid) and no certainty that there will ever be a declaration of any dividend!! Further, when you look at the whole controlling company, Phoenix, losing £10,000,000 per annum in Hornsby for example, why would you think that they will favour the minority shareholders in SG? They will extract every penny they can to re
-pay their "loans" to SG and will such SG dry!! Once they have their investment back, they will take the company private at 2.75 p per share and sell it on! See if I'm wrong? Sadly not!! You have all been robbed.
If there is manipulation it is to keep the share price UP ( not down) since as I have pointed out before, all shares can (and will) be compulsorily acquired at the price of 2.50 per share ( and no more) when the company is taken private once it returns to profitability. When I raised this previously, it was said that the permission of the shareholders would be required before the company could be taken private, but the current owners already have the necessary majority ( or have the option to increase their shareholding to give them that sufficient majority) to be able to take the company private, WITHOUT shareholder consent. That is why I say that the shares are not worth more than 2.50 p per share, are being supported artificially high and will never post a dividend before they are taken private at 2.50 per share. I am not wrong?
With a majority percentage (which they have) Phoenix can compulsorily acquire all of the remaining shares and must only pay the highest price WHICH THEY PAID for their shares, which as you all know, was 2.5p. Secondly, the only paid 5m for their controlling shareholding, the remainder was a secured loan, which will rank as a first charge in any winding up. You have all been robbed by the management. SUCKERS!!!!!!!
You are all missing the point. Phoenix have bought at 2.5p per share so are already in profit with the shares at about 4.00p each. Secondly, they can buy out the remaining shareholders at their purchase price of 2.5p per share under the rules, so far from looking at a future profit, all of you are sitting on a guaranteed future loss!! Lastly, that loss will be triggered once the company goes into profit, since rather than paying out a dividend, Pheomix will go private and acquire all your shares at 2.50p, triggering the anticipated loss. Sell now at 4 or later at 2.5??? What do you think? ( You have all been conned by the Directorrs who sold out on the existing terms). Suckrers!!
This share is Dead!! it will never recover. The Board has connived in the greatest Corporate rape of a company ever seen!! If I had had shares, I would have gone to Court!! First, they got approval to create 40,000,000 new shares, then they agreed to give 60% of the Company away, on dubious terms, with a proviso that the purchaser would never have less than 60%, at a derisory 2.5 pence each, meaning that if taken private, the purchaser would never have to pay more than 2.5 pence, and they thereby also gave the purchaser the right to take up the 40,000,000 shares. Why should any of you believe that the Company would now give you any consideration as an investor or ever pay a dividend? And why do you think that anyone sensible is dumping its stock (at any price)? SUCKERS!!
Pearls you are either delusional or deliberately misleading since a) the resolution may allow 40mil of new shares to be sold, the resolution makes no guarantee that the shares will be taken up and b) if they are taken up (at whatever price) the adding 40 mil of shares to 170 mil existing shares reduces the value of the 170 mil. Lastly, if 5,000,000 is raised by the issue of new shares, there is no benefit to existing shareholders, only the dilution of the value of their shares. The correct current share price should therefore be no more than say 2,5 p per share!!!!!
Sorry, 12.5p each
With regard to the above, I take issue with anyone who believes that 40,000,000 new shares will not dilute current shareholding. Further, who on earth would take 40,000,000 shares for 5,000,000 when that would equal say 20p per share when the current price is 3.50? Clearly something does not add up and on the face of that, why can anyone expect a bank to wait or expect further assets to be pledged to underpin borrowing, when there are no more to pledge? Lastly, is the game over bar the shouting? I think so.
Or does it remind you of stanley gibbons?
Pearls, have read all of your posts over the last year and all I can say is that I have always enjoy your optimism, even if its often misplaced.
Boy are you people living in cloud coockoo land with this share (and this company)!! It is clearly broke. £5,000,000 today to keep going, £5,000,000 tomorrow? My advice is ask for physical paper share certificates and use them to paper your walls. Then, each time you look at your wall, you can remind yourself of your stupidity. Sorry but that is the reality. Happy New Year.