Yes it was updated to now include the new shares. Somehow Mr Threadaway has moved up in shares considerably. I can only assume the £50k that was subscribed to him he kept in shares....and the same for Mr Thorneycrofts £10k.
This is the reply I got from the company i.e. me asking for an updated list....check their reference to an RNS..
We were awaiting an RNS announcement of the share admission. Have now established with the Group's nominated advisor that no RNS announcement is required and the matters as announced on 27 March 2024 occurred as expected.
Accordingly, the website has been updated appropriately.
I can only assume Forum Energy has their shares in Thomas Grant and company as otherwise they have sold out.
Also not sure how Mr Threadaway all of a sudden got so many shares. Unless the new shares were issued to him (i.e. the £50 that was given to him)......
My shares sitting in Interactive Investor....
PaulArthurTreadaway 133,409,829 20.43%
Thomas Grant and Company (Nominees) Ltd Des: TGNOMS 102,224,261 15.65%
The Bank of New York (Nominees) Ltd Des: 6723938 75,000,000 11.48%
Peter Wylde 56,818,182 8.70%
Interative Investor Services Nominees Ltd Des: SMKTNOMS 40,493,190 6.20%
Hargreaves Lansdown (Nominees) Ltd Des: HLNOM 24,832,417 3.80%
Peel Hunt Partnership Ltd Des: PMPRINC 24,496,739 3.75%
Gary Thorneycroft (Director) 23,327,273 3.57%
Christopher Charles Johnson (Director of a Group Subsidiary) 18,681,580 2.86%
Norman Lott (Director) 50,000 0.01%
I have contacted the company today and asked them if they could update the shareholders list on the website. I used to get replies but I think I upset them end of last year so not sure if they will reply....
I see our latest property is on the market....
https://search.savills.com/property-detail/gbtwrstus230461
I would say debt free, yes. But not sure about completely revamped. I think this is why it’s so cheap. It is a property development company that doesn’t really develop. It invested in Hydroponics a few years back and nothing has come of it. I would however say that certain interesting parties invested heavily in the company who’s got major interest in the oil and energy sectors….and that is my reason for taking a stake early. Any news of going into that sector and this will go ballistic.
But please do your own research and buy on your own accord otherwise I will be told soon I left people holding the baby (quoting petroinvestor)
Davey before the dilution I was at one point over 8%. Informed the company but as I’m holding my shares with Interactive Investor it’s stated under their name on Trafs website. Been buying so probably now around the 5% mark again…..
Tried to explain it below. In effect the debt was converted into shares. The shares were then put back on the market immediately at the reduced price (0.044p). Those shares raised a £100k in cash of which £50k was paid to one director and £10k to another. How that works I have no idea. Not sure if the guy (who's name escapes me now) owed some money to the directors or there was some deal but in effect we have gone from owing him £900k to not owing him anything for effectively £100k worth of dilution.
Happy for anyone to correct me and that if they think better.....
Well if you take the 653,102,371 shares and multiply by 0.045p (mid price) although it's probably closer to 0.0415 at present then the market cap is: £293,896.07.
The Directors didn't buy any additional shares on top of what they already have.
Yes the company is debt free as far as I know. There is I think one development on the go which they normally get a loan for that gets repaid ones properties sell. Have a look on their website.
The total shares will now be: 653,102,371.
The shares were issues at 0.44p and then sold in the market at 0.044p to allow the £900k debt to be converted into £100k cash and then of that £100k, £50k was given to 1 Director and £10k to another....
Hope that makes sense, as it doesn't makes sense to most of us. But it does seem like a good deal though unless we are missing something. Only speculation but it seems that needed to get sorted for the company to move to the next stage (whatever that might be)....
The one thing of late is that we have at least have some trades.....if you look back at my posts you will see that there was a time in Feb (I think) that we didn't have any trades for 2 weeks I think....
Which is making me think that something is happening.