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47.5p
Presume, you mean today’s update on letter of intent which told us nothing we didn’t already know.
Portswigger is right. This is all very normal and typical of shares waiting for a takeover to go through. Some investors are looking at other investments and are happy to sell up just below the offer price and HIG will be happy to keep buying at just under the offer price. Only yesterday DX issued a statement saying HIG now control over 45% of the shares (up from the previous 38%) clearly showing HIG are the buyers.
Email, once the takeover is declared unconditional any shares held are automatically sold at the takeover price, you can’t hold onto them.
Of course you are right portswigger, HIG have said all along they would reduce the offer price for any dividend payment. Not sure why email thinks otherwise.
He is still on LinkedIn you can message him there. Bit of a waste of time though. I heard CJ was stuffed by Aggarwal who bought their Crown Jewels (the India business) but before payment could be made he liquidated his company and reset up without paying. Not sure how much truth there is in that but if it’s true there was really nowhere for Dev to go (except going bust).
Prime - Ventura House, Ventura Park Road, Tamworth B78 3 HL
You are wasting your time Prime. CJ still lives in Tamworth but they have covered their tracks well and I don’t see anything that can be done even if they resurface later.
I am holding by the way, who knows if other bidders appear.
I am so glad I hung on to DX. I bought in some years ago at around 80p and it did well to start churning out hundreds in divis too. After the price collapsed I bought more at 16p and at the 48p offer price I will be around 70% up so my patience has paid off. GLA.
That’s old news Bags, see my post from 11th May when Scott Ashby first appeared on the scene.
The investing world is full of fraudsters, they nearly always get away with it and never get karma. Innocent investors are always the losers. We can rail against CJ but our money is gone and I am not holding any hope for any return, I am sure the dilution of any future investments will render our stakes worthless. Sorry to be so pessimistic but I think we need to face the reality of the situation.
Loft the Asset Match info is merely the last traded price and market cap before Dev got suspended. As Bag has pointed out we will be lucky to get half a pence if and when we can trade again. CJ is a fraudster so will ignore any pressure, he is just spinning this out as long as possible while he takes his huge salary year after year.
Spks I was trying to be helpful not patronising. Go figure it yourself
This just gets worse and worse. On companies house it details Aggarwal gone, Veative no more and a new director Scott Ashby. Anyone heard of him? This is looking increasingly like a zero.
No spks, I don't know how to make this any simpler. You already have shares in the new company (your Dev shares will become Veative shares). When Veative shares start trading on asset match you will be able to trade them and the new Veative shareholders that bought shares under the current recapitisation will be able to trade theirs (they are all the same shares). We don't expect the new Veative shares will trade for much.
Spks, I don't think you understand how new share issues work. They have the same standing (known as "par passu") as existing shares so your Dev shares are exactly the same as the new share issue. So you don't get new shares as you already have them. The problem is the dilution effect that the new shares result in, which means each share (both the old Dev and the new shares) are worth a fraction of their previous value.
Yes, I notice Assetmatch have removed Veative from it's list of companies it is dealing with and added a note that trading is suspended whilst Veative carry out fundraising. The new investor section on the Veative website has similar information.
On the asset match website for Veative there are no buy or sell orders listed. With no-one wanting to buy or sell there will not be an auction tomorrow when the current auction ends.
@randy. There is no trading for Veative (Dev) at the moment on assetmatch even though they list it on their site. Apparently they are waiting for Veative to sort out funding which might take a while (and dilute existing sharesholders considerably).