Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Reduced holding could be due to dilution. ?
Number of current ordinary shares in issue 613,798,925
As of 4 December 2020, Helium One Global Ltd had 496, 893, 111 ordinary shares in issue.
Sebastian Marr 20, 762, 564 4.18
https://www.malcysblog.com/2021/05/core-finance-ceo-interview-david-minchin-helium-one/
IGH COURT REJECTS AMIGO RESCUE PLAN, SHARES TANK
(Sharecast News) - Shares of Amigo Holdings tanked on Tuesday after the High Court rejected the guarantor lender's rescue plan.
Amigo had put forward a plan that would see its creditors get less compensation for misselling than they are owed. It argued that if the scheme of arrangement was not approved, it would go bust and claimants would be left with nothing at all.
Despite being approved by most of its creditors, the rescue plan was rejected by the High Court.
"The board is reviewing all options including an appeal," the company said in a brief statement.
Chief executive Gary Jennison said: "Amigo is incredibly disappointed that the scheme has not been approved despite the 74,877 customers who voted in support of the scheme, representing over 95% of those who voted. We are currently reviewing all our options and will provide an update at the earliest opportunity."
The Financial Conduct Authority, which had already made clear that it opposed the scheme on the basis that it was unfair, said: "The FCA has, through its continued engagement with Amigo and participation in the Court hearing, sought to get a better, fairer deal for Amigo's customers due redress. We believe that a fairer compromise could have been offered to customers, but was not.
"The FCA considered it necessary in this case to share with the Court its view that the scheme as proposed was inherently unfair, as it placed a disproportionate burden on customers, as opposed to shareholders and bondholders, to keep the company afloat."
The FCA said it believes Amigo can propose a fairer scheme to customers. "It should also ensure that its customers are fairly represented and advised on alternative proposals for a scheme," it said.
At 0820 BST, the shares were down 61% at 7.19p.
AMIGO SHARES TANK AS IT AWAITS COURT DECISION ON RESCUE PLAN
(Sharecast News) - Amigo Holdings shares tanked on Friday after a temporary trading suspension was lifted, with the guarantor lender's fate hanging in the balance as it awaits a court decision on its rescue plan.
Earlier this month, Amigo said that most of its creditors had voted in favour of a rescue scheme that will see them get less compensation for misselling than they are owed, but the Financial Conduct Authority said it was set to oppose it on the basis that it was unfair.
Amigo had already said it would go bust due to misselling compensation if the plan does not go through, leaving claimants with nothing at all.
The scheme also needs to be sanctioned by the High Court and a hearing was held on Wednesday. Amigo had requested the temporary trading suspension pending an announcement. "In light of the limited capacity of attendees at the public hearing, there is the possibility for asymmetric information in the market should significant market sensitive information be released during the Court hearing, before the company has time to update the whole market," it said.
However, the judge presiding over the hearing did not give a judgement on the day. Amigo said he "will do so in due course".
As a result, the subprime lender applied on Thursday for the trading suspension to be lifted pending an announcement on the outcome.
"The company is not able to confirm when the decision on the Scheme of Arrangement will be delivered by the court or when and how it will be announced," it said.
At 0910 BST, the shares were down 29.4% at 16.65p, having fallen to as low as 11.41p earlier.
Many Thanks KTRB
Wed, 12th May 2021 17:03
RNS Number : 4408Y
Amigo Holdings PLC
12 May 2021
TR-1: Standard form for notification of major holdings
1. Issuer Details
ISIN
GB00BFFK8T45
Issuer Name
AMIGO HOLDINGS PLC
UK or Non-UK Issuer
UK
2. Reason for Notification
An acquisition or disposal of voting rights
3. Details of person subject to the notification obligation
Name
MIC Capital Partners (Public) Parallel Cayman, LP
City of registered office (if applicable)
George Town
Country of registered office (if applicable)
Cayman Islands
Name
City of registered office
Country of registered office
MIC Capital Partners (Public) (US) IM, LLC
George Town
Cayman Islands
4. Details of the shareholder
Full name of shareholder(s) if different from the person(s) subject to the notification obligation, above
City of registered office (if applicable)
Country of registered office (if applicable)
5. Date on which the threshold was crossed or reached
11-May-2021
6. Date on which Issuer notified
12-May-2021
7. Total positions of person(s) subject to the notification obligation
% of voting rights attached to shares (total of 8.A)
% of voting rights through financial instruments (total of 8.B 1 + 8.B 2)
Total of both in % (8.A + 8.B)
Total number of voting rights held in issuer
Resulting situation on the date on which threshold was crossed or reached
7.644246
0.000000
7.644246
36335683
Position of previous notification (if applicable)
8.00
0.00
8.00
8. Notified details of the resulting situation on the date on which the threshold was crossed or reached
8A. Voting rights attached to shares
Class/Type of shares ISIN code(if possible)
Number of direct voting rights (DTR5.1)
Number of indirect voting rights (DTR5.2.1)
% of direct voting rights (DTR5.1)
% of indirect voting rights (DTR5.2.1)
Ordinary shares
36335683
7.644246
Sub Total 8.A
36335683
7.644246%
8B1. Financial Instruments according to (DTR5.3.1R.(1) (a))
Type of financial instrument
Expiration date
Exercise/conversion period
Number of voting rights that may be acquired if the instrument is exercised/converted
% of voting rights
Sub Total 8.B1
8B2. Financial Instruments with similar economic effect according to (DTR5.3.1R.(1) (b))
Type of financial instrument
Expiration date
Exercise/conversion period
Physical or cash settlement
Number of voting rights
% of voting rights
Sub Total 8.B2
9. Information in relation to the person subject to the notification obligation
2. Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entities (please add additional rows as necessary)
Ultimate controlling person
Name of controll