Member Info for goooba769

Under the rules delisted companies cant be held in an ISA. Your broker will likely move your shares out of your ISA account into your dealing account shortly. You can leave them there or get them sent to you in certificate form. Then its all a waiting game to see if we ever get anything back. Im not expecting anything but if we do then its likely to be +2yr minimum in my eyes.

Did you have it in an ISA? If so it would move out of that into your normal dealing account as delisted shares cant stay in your ISA. You still hold shares in the company until:- 1. Its liquidated and funds returned to the share holders 2. Company is declared bankrupt Thinks are progressing in the background and not all is lost but it all hinges on the legacy issue being resolved with minimal or no impact. It looks like we will have a convertible loan in Bigsofa so assuming the shares do well when they come to market we could potentially be worth a lot but there are a lot of ifs and buts.

his sums up what is happening perfectly. Only time will tell if we do get anything back or not.

Footie that's were your wrong there is still money and the loan. When there is a bankruptcy notice then Ill assume the money has gone.

I don't believe they are written off until a company is declared bankrupt which if you bought out of an ISA you can write it off on other gains. This is an odd situation where the company does have £1.5>£2m but is being booted off as its one of the black sheep of AIM after the recent history so AIM is cleaning things up with the NOMAD and 6 month rule/excuse. I get the impression Adam/Nick are keen to make a go of it and if they can we might see our money back or possibly more. On flip side the company slips off the market so is even less regulated so we need to keep an eye on events. Personally I think if the legacy issue can be resolved(slightly positive on this as there has not been any formal legal action so the case might not be strong enough or might not be an issue) then with Adam at the helm and a healthy cash sum we could see nice returns. Nothing to say we couldn't come back to market as a cleaned up company if we can raise the minimum funds to join the AIM casino again!

tomorrow delist day. Not a lot to say really its going to delist we need to find ways to monitor what the BOD get upto now that they are off the market. Nick has a 7% interest in the company and with cash in the bank + Bigsofa loan there is value there assuming its not taken by the legacy issue. Assuming the legacy issue is resolved with minimal impact Id love to see the company have a makeover and then come back to market but that would be months/years away.

If you are in original group then you will have the email address needed to contact Ben. If you have tried joining through NWOG site in last few months then GB has taken it over to disrupt the original group.

Email Ben back and ask. Is it in your junk mail that happened to me.

Yes you can transfer it to certificate form I suspect your provider will charge you. There isn't much point in pulling it out at minute, if it is or isn't in certificate form you still own part of NEW.

I'm not seeing any facts in there just your interpretation of some information.

There are still lots of unknowns surrounding the companies future but there might be a way forward but its going to be a very long road and you might not see anything returned depending on the legacy issue. The company has a reasonable cash pile and the loan in Bigsofa. I don't believe for one second they have the money to pay this back and we wouldn't get anything back by calling it in. All we can do is wait and see what the BOD come up with moving forward.

doubt that will happen yet if there is a potential claim against the company those funds wouldn't be released to the shareholders until resolved.

You have single handedly destroyed the RTO deal, sent NEW to the delist corner and wasted x amount on another AGM. What a complete c@@k please feel free to contact him and express you feelings.

isas from your comments I take it you are in the NWOG group or you have some relationship with Gary or you are Gary?

isas BOD/NOMAD accountability would be great but that's a discussion for another time. Facts are we have no NOMAD and we will be delisted unless a NOMAD is arranged and the 6 month delist dealt with. What would GB actually add to the company and more importantly what has he done to hinder the deal/company progress so far? I don't see much evidence that he could add value to NEW more like he would just drain our funds away quicker. At least Adam has some sort of reputation and I suspect contacts but after the complete failure of the deal and history of the company I don't see us surviving unfortunately. I hope for survival but I believe the chances are slim.

Arguing over BOD members taking wages in shares is comical to be honest as that is the least of our problems! The fact we have no NOMAD, are about to be de-listed and a potential claim against the company I think there are bigger issues than BOD pay at the minute! Also you will find the current BOD had the deal lined up and it was not them who sabotaged the deal and put us in the current position. The current BOD is the only hope we have of getting out of this mess but I'm not optimistic now as this has all the hall marks of SER where the NOMAD community didn't offer services so forced the company to delist. Nice convenient way for AIM to remove a troublesome company don't you think.

Nope and it would be pointless as the only people who could propose/agree to that would be the BOD. If they thought they could do well out of such a deal then they might well do it but due to the shares being delisted on the 10th and the likelihood of them not coming back would you consider such a move if you were the BOD?

I'm assuming it would be converted as I don't see Bigsofa having the money to repay it unless they can do that if they come to market through another vehicle and raise funds. As no one knows what this potential legal case is about its difficult to say what will happen. I'm still thinking we are bit close to the point of is it worth trying to recover the remaining funds. It would surely end up in court and what cash is left would be burnt up trying to prove if it is fraudulent money or not. I suspect a clearer picture will happen in the next two weeks but I'm preparing for delist unfortunately.

Grumpy I think the way back is unlikely as the company would need to have a minimum amount of money to relist as it would be a "new" company in effect. I cant recall now but I think companies now need a minimum of £3m to get onto AIM casino. Unless NEW made a lot of money from investments off the market and then managed to get that money together to re-join. That would be a very long investment. Basically if this delists I very much doubt we will see anything back or if we are lucky to survive and invest the remaining funds wisely then one day we might get a payday. The general feel I get from TW/Doc was that Bigsofa is a hot deal so if they do come to market with another company and we keep our investment in them then we could potentially sell it for multiples down the line. You could potentially have a dormant company with minimal overheads being run privately while the investment grows but this is a very long process and a number things need to line up. Especially the potential legal case not coming to anything. I have a small hope of a NOMAD stepping in to keep us listed but I feel the potential legal case and past history is going to put them off. All hangs on Adam/Nick contacts and if they want to save this company now.

Yes that's the main issue we need a NOMAD before the 10th I hope Adam/Nick have some NOMAD friends handy!