Member Info for Jfallonirl

@haggis- Nice summary. Would think April to receive funds is a little too early maybe as they need approval and then declare a dividend for the 3p element which requires 40+ days I think. I guess what also needs to be considered is that the shares would have some value at the end of that would, I'd assume. So even if the deal is worth 12.5p, the shares maybe only worth 2p so total value is 14.5p if kept and sold at the end. Fair assumption? I will be voting it purely from a selfish POV as I average 9p but they could have structured this alot better!

Maybe it's laziness on my part but I can't see timescales so if someone could assist.
When/If approved, when can the £6.02 per share be paid out and subsequently when is the other £6.48 likely to be paid?

Thanks,

Jon

@Oldman, Good work.
At least we got a month and a year to assume we will get information and if not, you at least have a basis for hounding further. All I would say is that if it technically treated as a dividend, then the timeframe between declaration and payment is 42 days which is obviously impossible for it to be paid to March. I will leave with that if a generous sale is agreed or even if declaration of dividend is at the end of March, I would forgive them!

Does anyone have a view on what the dividend declared tomorrow will be? Is there a chance of a special dividend?

Good to get some views.
Jon

@Senseman, I have forwarded that on.

@Tonio- I didn't read it as such. Maybe they don't have a good relation with CA (since they have threatened to get rid of them) and don't care what they think and if they have an issue, it's up to them to vocalise it. All they care about is having the support of the chair and the board which they say they have.

Thank you for your email.

With respect to the request for further information on the Formal Sales Process (FSP), the Company announced on 11 January 2023 that we had received multiple proposals from credible counterparties. As stated in that RNS, the proposals received were highly conditional and subject to further due diligence. As such, the process of discussing the proposals with each counterparty is continuing and it would be inappropriate to provide a running commentary on these negotiations. The Company will provide further updates in due course as and when appropriate.

In terms of the potential return of capital, as originally announced on 2 November 2022, if the FSP does not result in a transaction, the Board intends to commence a significant capital return programme. This would result in up to $70 million to be returned to shareholders in Q1 2023, upon completion of a capital reduction. As announced on 2 February 2023, the registering of the court order confirming the Reduction of Capital with the Registrar of Companies completes the Reduction of Capital process, making a capital return to shareholders possible. The completion of this process does not itself automatically trigger a capital return. As previously announced, the next steps in terms of the method, timing and exact quantum of a return of capital to shareholders will be decided in conjunction with the outcome of the ongoing FSP. Further updates will be provided in due course.

On 12 January 2023, Crystal Amber Fund Limited announced that it had withdrawn its requisition notice to convene a general meeting to consider its proposals that were originally announced on 23 December 2022. Any further decision on this is a matter for them, however, the Executives and the Chair have the full and unanimous support of the entire Board.

We hope that this addresses your questions.

That was a cut and paste from mine lol

@robbie and others who are sending e-mails. You may need to resend them every few days as it was quite hard for Maris to respond and when he did it was generic info from previous RNS's. Just keep it as a polite chaser rather than bordering on harassment. It can be easy to let the heart rule your head especially if share price is going south and you are getting inadequate updates from the BOD'S/CA

@asimpleinvestor- If you use the analogy of a house sale taking a few months to complete there are landmarks such as when the deposit is paid where it's harder to walk away or completion of contracts where it's legally binding. Surely about 5/6 weeks since Jan 6th deadline, you would think they would have a shortlist decided or even decided on their preferred option. I think the main frustration is the lack of understanding of the process involved. Company B makes an offer for company A. If the offer is reasonable for the board/shareholders firstly and proof of funds (like in a house sale) can be demonstrated, along with due diligence from company B's side that there is no surprises in the company are complete (how much info would they need, maybe many months of future management accounts?), then the remaining PI's would get to vote. So is it still reasonable to assume that the reduction of capital is realistic in Q1? Is it reasonable for HUR to tell us that they have selected one and is going through the due diligence process? Update that at least one is agreeable to the board? I do thing there is an ability from HUR or CA to allow a little more detail on what is happening.

Eski- Totally agree. If I can get out of this relatively unscaved then I will never be investing in another AIM share again. The BOD of most are borderline corrupt that can say and do whatever they like without any accountability. Too much risk imo

@robbiescowls- I really do hope so. However got a response today from Maris and he just relayed0 all the recent RNS's back to me i.e. "The Company will provide further updates in due course as and when appropriate" and in relation to reduction of capital- " As announced on 2 February 2023, the registering of the court order confirming the Reduction of Capital with the Registrar of Companies completes the Reduction of Capital process, making a capital return to shareholders possible. The completion of this process does not itself automatically trigger a capital return. As previously announced, the next steps in terms of the method, timing and exact quantum of a return of capital to shareholders will be decided in conjunction with the outcome of the ongoing FSP. Further updates will be provided in due course".

On the one hand- they are not allowed to give any new information, I understand that but if the outcome was immediate, he was being extremely professional and not letting anything out of the bag so when I finished the e-mail it didn't feel we were anywhere close to the end of the process.

Would be nice if Crystal would come out and give a hint that they were happy with the progress etc or not.

I don't have a login for ADVFN but I can read each comment. Mostly quite information, some not. A bit like on here to be honest. People's opinions. On the two that you refer to- one is an e-mail and the other is about tax credits. It's at this point that I don't follow your point is. Are you implying I am those posters? Not sure how to convince you that I am not. I don't have that knowledge about tax credits and I didn't know Maris e-mail until I saw that post. What are you referring to?

Senseman- Your comment is too cryptic. Not following. However, I did use the email to address some concerns in which a response was had but only relayed certain RNS's so not very useful to the delay in information we have.

Probably a silly question. Obviously see forms 8.5 and sometimes 8.3 coming through on a regular basis lately due to the takeover. Does anyone exactly know what they relate to or is it deliberly vague? I assume they are issued when the investor goes over a certain threshold so need to report it but relating to the takeover, are they building up their stake to 30% level before having to make a formal offer to cement control. Is that correct or way off the mark?

Another day and no RNS relating to activity. Quite annoying. Lets see where this falls to.
Don't think BP would be interested but welcome them if willing to pay a fair value. Reminds me of Sirius and our links with Shell. We all thought they would take us over too! Never happened though

Surprised how optimistic you are. Really hope you are right. The market doesn't feel this way and usually this kind of news has a way of being leaked to the markets before normal investors get informed of it so the signs aren't great.

At 7.03p, if they don't tell us exactly what is happening in the next 48 hours, this will nose dive and might be best to ensure this doesn't go south too far. This will be going into the 6's tomorrow morning.

Totally agree. Fear if no news tonight/tomorrow morning, we will be seeing 6p range tomorrow. Where from there is anyone's guess!

Shouldn't really say this. Probably going to fall like a stone now!