Member Info for glenmorangie

They have kept us corralled in a 2p price range for the last 6 months, between 7p and 9p, not often you see that

on an aim stock. Feels like there are forces out there that have tight control over the SP on this stock.

O joy we are in the 6s again, mind you what can you expect when no one really knows what is going on but the

management team. I hope there is some good news on the horizon.

I see Aberforth Partners LLP has sold their entire holdings in Gems, thats over 16 million in the last week or so.

Wonder who picked them up ?

Is there a transfer of shares between entities taking place? - that's nearly 8 million today of 'unknown trades' registered.

Shaun, must admit not sure I agree with your logic there but everyone to their own conclusions.

I am sure most on this board and the market, would be more positive if the management team had decided to

PR reasons for missing project milestones and setting new target dates for completion. These things happen in business, we

get that.

It was the Company that set these dates, no one forced them to attach the timescales they did and as a result this is what

happens in the absence of updates.

I really do hope there is a genuine (positive) reason for all its going on or lack there of but who knows.

Extrader, using your logic on Elphick sale, would mean that the management team have made no material inroads against the

outstanding project milestones, which is worrying to say the least. The bottom line is, management don't feel any obligation to

update the market place as to the status of their activities. 'It's my party and I'll do what I want to' attitude is having an adverse

effect on this stock, wither by design or they do not genuinely have any updates to announce is worrying,

Has there been a company press release on the 2 big diamonds recovered (194 & 110 carats ), per the article.

Strategic Reengineering: Cost-Cutting and High-Value Focus

Gem’s response has been aggressive. The company slashed costs by 20% through workforce reductions (250 jobs), executive salary cuts, and reduced waste mining [5]. It also relinquished its Ghaghoo mining license, a move that frees up capital but raises questions about long-term production capacity. However, the most promising aspect of Gem’s strategy is its pivot toward high-value stones. The recovery of two diamonds over 100 carats—194.52 and 109.95 carats—at its Letšeng mine offers a lifeline. These gems, expected to fetch premium prices, align with a market shift toward "exclusivity" and large, rare stones

Does anyone on here have an example of a company that went private from aims and it turned out beneficial

for PI ? I have been involved in one and was screwed over, lost everything.

It would be good to here success stories, just in case it happens.

Shaun, do you think that anyone would be worried about 'people buying shares' if the Company would give

updates on where they are against the project milestones, that they set and are behind on delivering.

We probably all, expected that there would be delays but I personally also expected that the Company would

updated the market with new dates and re-set expectations. We have had nothing on those missed milestones.

Meanwhile the share price has been going no where for 6 months and someone / some entity seems to be

hoovering up millions of shares against a depressed SP.

Don't think we are being unreasonable.

You know as individuals or through their stated financial vehicle, the whole management/investment team could be filing

their boots with shares and keeping it under the threshold for reporting.

As individuals combined they could own an additional ? % of stock without declaring, depending on how many participating.

Add that to their 49.38 % declared via the website and they would own a considerable majority of the Company.

It could also be a 3rd party (s) that we have yet to be introduced to, I believe it is 3% or 5% depending on wither UK or

non UK issuer for

1% of 832,380,000 shares = 8.32 million

3% of 832,380,000 shares = 24.97 million

5% of 832,380,000 shares = 41.62 million

I believe the below represent the current rules.

DTR 5.1.2 R 01/01/2021

RP

A person must notify the issuer of the percentage of its voting rights he holds as shareholder or holds or is deemed to hold through his direct or indirect holding of financial instruments falling within DTR 5.3.1R (1) (or a combination of such holdings) if the percentage of those voting rights:

(1) reaches, exceeds or falls below 3%, 4%, 5%, 6%, 7%, 8%, 9%, 10% and each 1% threshold thereafter up to 100% (or in the case of a non-UK issuer on the basis of thresholds at 5%, 10%, 15%, 20%, 25%, 30%, 50% and 75%) as a result of an acquisition or disposal of shares or financial instruments falling within DTR 5.3.1 R; or

(2) reaches, exceeds or falls below an applicable threshold in (1) as a result of events changing the breakdown of voting rights and on the basis of information disclosed by the issuer in accordance with DTR 5.6.1 Rand DTR 5.6.1A R;

and in the case of an issuer which is not incorporated in the United Kingdom a notification under (2) must be made on the basis of equivalent events and disclosed information.

Hi Sidney, it would be interesting to see how many shares have traded as 'unknown', its being going on for weeks/months now,

that's 3 million over last couple of days. Never seems to have any impact on SP.

No idea what's going on, wither their buys, sells or moving between accounts. Very strange activity.

Would someone like to hazard a guess, what party (s) are responsible for all these large volume 'unknown' trades over the past weeks/months ?

Why do these trades (cumulative) never seem to have a positive effect on the SP ?

If Zanaga management or the investment team are responsible, then why do they need more shares ? Surely it can't be for even greater individual wealth creation, beyond the significant amount of shares they already own ?

if Zanaga management/investment team are the buyers, could this not potentially compromise material news flow from the company, to keep

the SP depressed, while they pick-up cheap shares ?

Hi Nijb, you certainly have a fertile imagination.

I stopped trying to 2nd guess AIMs directors and their intentions years ago, to many disappointments a long the way.

As stated previously, this is my last aims stock investment and pray to God that the management team (owners) play

with a straight bat and the outcome is extremely rewarding for the PIs, especially on this board.

All the best

Nibj, when does all this behind the scenes buying become insider trading ?

Are the markets and PI community not getting full disclosure on material matters from the company ?

Is the SP being held with in a price range artificially to accommodate such buying ?

If any of the above is true then that would be market manipulation and insider trading.

I find it hard to believe that the Company has no more material news to disclose other than what

they have given thus far.

If they are in talks with a 3rd party (s), either a potential partner or buyout and there is non disclosure agreements in place

then it is my belief no individual or party involved should be able to buy shares in the market place during a closed period.

I maybe wrong, what does the board think ?

Did the management team decide that the appointment of Aubrey Thiel was not worth a PR ?

Here is another little extraction from the 'substantial shareholder list' as of 28.05.2025

4.51 % (37.5 m shares approx) of the o/s is owned by 'significant shareholders, and ordinary shares and share options in which non-executive directors of the Company are interested' but are not detailed under the substantial shareholder list.

Cal 49.38 % - 44.87% = 4.51%

My calculation is that these entities, between them, own 35.27% of the o/s (based on data from companies web-site 'Substantial share interests'

What does the 60% figure reflect ?

Cheers

Catbert, can you confirm what you mean by your statement 'The fact that Heeney, Eagle, Greymont and Regatta now own 60%'

What do they own 60% of ?

Anyone ?

Agree Driving, that's how I see it

Continued

Abby Glennie, a fund manager at Aberdeen, the asset management company, said: ‘AIM was once a thriving market, but it has been brutally knocked back by outflows in recent times. We are seeing many of the biggest and best AIM companies moving to a Main Market listing. It is a very ominous sign. Eventually we will be left with a tiny, illiquid market.’

Charlie Morris of ByteTree, an investment analyst, told Fidelity: ‘A glance at the chart shows how depressed AIM stocks are, in particular when smaller companies on the stock exchange’s Main Market have done quite well. There are some amazing companies on AIM, such as Jet2, SigmaRoc and Fever-Tree, but they have been battered in the aftermath of the 2021 bubble and are the last to recover. That said, we do expect them to recover in the end.’

Over the past 20 years, AJ Bell calculates that 128 companies have moved from AIM to the main market. The total number of companies on AIM at the end of 2024 hit the lowest level since the end of 2001 at 688 stocks

END