Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
More good news to come? Nice +10% rise today on no news.
GLA
More good new to come? Nice +10% rise today on news.
GLA
Hi TopCatz, that’s right it was sent by Max Inglis - who is the general counsel for TekCapital - have checked his email address against other Tekcapital updates in the past from Max and they are the same - but understand it could have been phishing etc. But it is legit although the sign off of the letter is Rick Guiney - as in the past Max has written on behalf of Rick.
I received that email last night at 19:30pm GMT but only saw it later on posted it on her to update you et al - that also bought via MV the MS Inc. IPO.
Yes, in a nutshell - no cant lay hands on the liquidity as that chance had passed when it was offer to institutional Inc. holders but was never offered to retail (ie. Us little fish in their eyes) as I definitely did not receive anything offering such.
Also the email sent last night - is popping off right now with everyone that was sent that update - has angrily demanded answers due to the poor reasoning why Inc. holders were kept out and have to wait longer.
Tbh - personally, I have taken my MV Microsalt Inc. as a loss (although not got rid of them) - but cannot see the UK Microsalt taking on the US Microsalt at all - unless there is a major shift - which takes extremely long time - and not in my lifetime lol.
Anyway, other updates from CEO/Tek will keep you updated.
GL & ATB :)
@Topcatz and others who bought into the Microsalt Inc. from Microventure (MV) - email received from CEO of Microsalt - from my interpretation - they are two separate entities and those shares bought in MV for the US Microsalt Inc. have no value towards to the UK Microsalt PLC - just whatever the Inc. value is in the US…..so in layman terms MV Microsalt Inc. - has nothing to do with Microsalt in the UK - ie. Worthless unless Microsalt Inc. continue going strength to strength and make it to Mr. Market.
Oh well Win some Lose some.
GL & ATB.
dear investor
first, please allow me to thank you for your vision and support of microsalt and in our quest to lower the consumption of excess sodium. we have a global vision of a healthier planet, and your support remains important to us as we move forward.
at this time, we would like to offer the following clarification in response to inquiries we have received stemming from the notice you may have received from microventures relating to the ipo of microsalt plc.
microsalt inc. was originally established as a subsidiary of salarius ltd before the crowdfund and this was disclosed in the crowdfund documents. microsalt plc is a company organized under the laws of the united kingdom and microsalt inc.’s biggest shareholder. the listing of plc did not include a reverse merger of microsalt inc. into microsalt plc as indicated in the microventures notice.
the ************** was initiated by microsalt ltd., the largest shareholder of microsalt inc., which owned 77.83% of microsalt inc. at the time of the offer. the ************** offer was made by microsalt ltd. to certain other large shareholders of microsalt inc., who were all accredited investors at the time of the offer. microsalt inc. was not and is not a party to the ************** agreement, it is between microsalt ltd. and the other shareholders. there is no agreement nor requirement for microsalt ltd. to make the offer to all the other shareholders of microsalt inc.
the terms of the exchange were determined by microsalt ltd. and offered to several of the larger shareholders, who confirmed that they were accredited investors, and some of them accepted the offer. that offer is now closed and therefore the terms of the previous offer and the pro forma cap table are no longer relevant. after the consummation of the transaction, microsalt ltd. will own between 87% and 91% of microsalt inc.
please note that the remaining shareholders of microsalt inc. will continue to own the exact number of shares that they owned when they bought the shares, and the rights and percentage of ownership in microsalt inc. will in no way change. the shareholders of microsalt inc. will have the same liquidity in microsalt inc. as prior to the exchange.
as microventure’s correctly points out, your ownership in microsalt inc. and the liquidity of your shares in microsalt inc. has not changed.
we understand that you may be frustrated that you were not able to participate in the public financing of microsalt ltd., however as a uk company, under us law they were not permitted to offer to sell or exchange shares in a uk company to us non-accredited investors.
if the business of microsalt inc continues to go from strength to strength, we may consider potential liquidity options for microsalt inc shareholders in the future.
we hope you can be patient and understanding of this situation and we look forward to your continued support as we strive to make microsalt the food industry’s preva
dear investor
first, please allow me to thank you for your vision and support of microsalt and in our quest to lower the consumption of excess sodium. we have a global vision of a healthier planet, and your support remains important to us as we move forward.
at this time, we would like to offer the following clarification in response to inquiries we have received stemming from the notice you may have received from microventures relating to the ipo of microsalt plc.
microsalt inc. was originally established as a subsidiary of salarius ltd before the crowdfund and this was disclosed in the crowdfund documents. microsalt plc is a company organized under the laws of the united kingdom and microsalt inc.’s biggest shareholder. the listing of plc did not include a reverse merger of microsalt inc. into microsalt plc as indicated in the microventures notice.
the ************** was initiated by microsalt ltd., the largest shareholder of microsalt inc., which owned 77.83% of microsalt inc. at the time of the offer. the ************** offer was made by microsalt ltd. to certain other large shareholders of microsalt inc., who were all accredited investors at the time of the offer. microsalt inc. was not and is not a party to the ************** agreement, it is between microsalt ltd. and the other shareholders. there is no agreement nor requirement for microsalt ltd. to make the offer to all the other shareholders of microsalt inc.
the terms of the exchange were determined by microsalt ltd. and offered to several of the larger shareholders, who confirmed that they were accredited investors, and some of them accepted the offer. that offer is now closed and therefore the terms of the previous offer and the pro forma cap table are no longer relevant. after the consummation of the transaction, microsalt ltd. will own between 87% and 91% of microsalt inc.
please note that the remaining shareholders of microsalt inc. will continue to own the exact number of shares that they owned when they bought the shares, and the rights and percentage of ownership in microsalt inc. will in no way change. the shareholders of microsalt inc. will have the same liquidity in microsalt inc. as prior to the exchange.
as microventure’s correctly points out, your ownership in microsalt inc. and the liquidity of your shares in microsalt inc. has not changed.
we understand that you may be frustrated that you were not able to participate in the public financing of microsalt ltd., however as a uk company, under us law they were not permitted to offer to sell or exchange shares in a uk company to us non-accredited investors.
if the business of microsalt inc continues to go from strength to strength, we may consider potential liquidity options for microsalt inc shareholders in the future.
we hope you can be patient and understanding of this situation and we look forward to your continued support as we strive to make microsalt the food industry’s prev
Drop was not really overdone - it was correct as XD payment is usually how much it drops by along with div impact percentage - which for LGEN was approx. 6%.
Overall, not bad price to get in at the ring of the morning bell to get into LGEN - as it was a 6% discount then wait for next XD date lol!
Scrap my queries - I have found all the answers I was looking for - Preference Shares of Natwest are 134p (Ticker: NWBD.L) if anyone also wanted to know what they are.
GLA & ATB
Scrap my queries - I have found them - Prefer
Hi all,
Is there a Dividend Payment on 29th April 2024?
If so, from the RNS today - is there additional payment to be paid out to shareholders end of May.
“ DIVIDENDS ON 11 PER CENT AND 5.5 PER CENT CUMULATIVE PREFERENCE SHARES FOR THE HALF YEAR TO 31 MARCH 2024
“The Directors have declared half-yearly dividends on the 11 per cent and the 5.5 per cent cumulative preference shares. Unless otherwise resolved by the Board, the dividends will be paid on 31 May 2024 at the rate of 5.5 per cent and 2.75 per cent respectively, and will be paid to those preference shareholders on the register at the close of business on 2 May 2024.”
Also, how do you acquire preference shares? To become a preference shareholder?
Genuine queries as never held any bank shares before other than these at recent lows.
TIA.
That’s very true Bertram they are all plundered at will. That’s why hope everyone using all that is available from spouse to those they can trust to use their allowances to reduce how much you have to pay to the Gov/Taxman.
GLA
Hi TopCatz - you’re welcome.
My interpretation is that we only have shares in Microsalt Inc. and so no value to Microsalt Ltd which is what is was floated (via reverse merger).
So as you rightly pointed - hopefully after a year there is improvement and they can convert like for like with SP higher.
Good luck and ATB. ;)
@AP : Hahah for sure ;)
Don’t forget Candy Man as well David who you also could call 3 times ;P
the following is a q1 2024 update from microventures regarding your investment in microsalt.
dear microsalt investors,
you may already be aware that microsalt plc filed and completed an ipo on the aim market of the london stock exchange in february of this year. the company raised £3.1 million at a £18.5 valuation.
microsalt, inc. sold preferred series seed shares via a reg cf offering that concluded in 2022; you invested in microsalt inc. during this offering. it is our understanding that microsalt inc. did a reverse merger into microsalt ltd., which is the entity that went public on the london stock exchange as microsalt plc under the ticker "salt".
you can read more about the ipo here and here.
we have asked the company for additional information and thus far have only received the following:
the ************** was initiated by microsalt ltd., the largest shareholder of microsalt inc., which owned 77.83% of microsalt inc. at the time of the offer. the ************** offer was made by microsalt ltd. to certain other large shareholders of microsalt inc., who were all accredited investors at the time of the offer. microsalt inc. was and is not a party to the ************** agreement, it is between microsalt ltd. and the other shareholders. there is no agreement nor requirement for microsalt ltd. to make the offer to all the other shareholders of microsalt inc. notwithstanding that there was no obligation to make an offer to all the other shareholders of microsalt inc.
the terms of the exchange were determined by microsalt ltd. and offered to several of the larger shareholders, who confirmed that they were accredited investors, and some of them accepted the offer.
the offer is now closed and therefore the terms of the previous offer and the pro forma cap table is not relevant. after the consummation of the transaction, microsalt ltd. will own between 87% and 91% of microsalt inc. the remaining shareholders of microsalt inc. will continue to own the exact amount of shares that they owned when they bought the shares and the rights and percentage of ownership in microsalt inc. will in no way change. the shareholders of microsalt inc. will have the same liquidity in microsalt inc. that it had prior to the exchange.
most microsalt inc. reg cf investors were not part of the ipo, but a few investors have told us that they had the opportunity to convert their series seed preferred shares in the ipo. microventures received shares in microsalt inc. as part of the offering. we did not elect to convert due to limited clarity from the microsalt group and what that outcome would be for all investors on our platform. since august of last year, we have requested details from the company on what this ipo means for your investment as well as liquidity options in the future. to date, they have not provided any details. we will share any information from the company if and when received.
Shaer xchange agreement.
Incorrectly spelt as some reason would not let me put the correct word.
note : the asterisk signifies: ************** agreement
you may already be aware that microsalt plc filed and completed an ipo on the aim market of the london stock exchange in february of this year. the company raised £3.1 million at a £18.5 valuation.
microsalt, inc. sold preferred series seed shares via a reg cf offering that concluded in 2022; you invested in microsalt inc. during this offering. it is our understanding that microsalt inc. did a reverse merger into microsalt ltd., which is the entity that went public on the london stock exchange as microsalt plc under the ticker “salt”.
you can read more about the ipo here and here.
we have asked the company for additional information and thus far have only received the following:
the ************** was initiated by microsalt ltd., the largest shareholder of microsalt inc., which owned 77.83% of microsalt inc. at the time of the offer. the ************** offer was made by microsalt ltd. to certain other large shareholders of microsalt inc., who were all accredited investors at the time of the offer. microsalt inc. was and is not a party to the ************** agreement, it is between microsalt ltd. and the other shareholders. there is no agreement nor requirement for microsalt ltd. to make the offer to all the other shareholders of microsalt inc. notwithstanding that there was no obligation to make an offer to all the other shareholders of microsalt inc.
the terms of the exchange were determined by microsalt ltd. and offered to several of the larger shareholders, who confirmed that they were accredited investors, and some of them accepted the offer. the offer is now closed and therefore the terms of the previous offer and the pro forma cap table is not relevant. after the consummation of the transaction, microsalt ltd. will own between 87% and 91% of microsalt inc. the remaining shareholders of microsalt inc. will continue to own the exact amount of shares that they owned when they bought the shares and the rights and percentage of ownership in microsalt inc. will in no way change. the shareholders of microsalt inc. will have the same liquidity in microsalt inc. that it had prior to the exchange.
most microsalt inc. reg cf investors were not part of the ipo, but a few investors have told us that they had the opportunity to convert their series seed preferred shares in the ipo. microventures received shares in microsalt inc. as part of the offering. we did not elect to convert due to limited clarity from the microsalt group and what that outcome would be for all investors on our platform. since august of last year, we have requested details from the company on what this ipo means for your investment as well as liquidity options in the future. to date, they have not provided any details. we will share any information from the company if and when received.
In the meantime, if you would like to request additional information, you can reach out to the company directly:
Max Inglis – minglis@tekcapital.com
Konrad Dabrowski – kdabrowski@tekcapital.com
Clifford Gross – cgross@tekcapital.com
Rick Guiney – rguiney@microsaltinc.com
Zachary Sobel – zsobel@egsllp.com
David Selengut – selengut@sgsllp.com
- The MicroVentures Team