Member Info for leew

RBM, thanks and assumed that would the case and makes 100% sense.

Life would be so much easier for everyone had COPL performed (people can insert their own word instead of performed) and I assume more than enough for everyone to have done well.

RBM, is the plan to see how this current auction process plays out before taking the final decision on the exact nature of the case and who it targets?

For instance if a reasonable conclusion was reached in terms of a sale or restructuring would that alter the approach, or is the approach locked in now?

I don’t actually disagree my assumption is the sale will go through to the stalking horse bid or by another party slightly above that bid. Then due to the sale process started I am assuming it gets signed off and not sure there is much possible for halting that legally but not long to wait anyway and if it’s the low offer and it can be halted then I would be fully onboard, but it’s being done quick as COPL have no funds so not sure there is much to argue/change in the process we are within now.

I would love a restructured deal that pushed the company forward and negated the need for the legal class action I just don’t see it.

Yes the optimism is coming from there Alfresco, but my opinion is that I don’t see the current process being beneficial for retail SH’s so my assumption is we are all going to need to go for the long hall legal route.

Would love to be wrong of course

Edgein, that boats sailed I guess, as has reaching fair value in the current process.

Some seem optimistic or implying interest but would need at least 2 interested parties to go against each other and not sure the time is available for that.

Thanks RBM / CAG

Just emailed my current loses based on the book cast value in my different accounts and that was a decent amount, to then include the crystallised loses where I took some in Dec and then put back in once I thought there was a chance for a late turn around was depressing lol

Basically I am not sure people involved realise the impact they have and the level of upset shareholders who arnt just going to go away.

Not sure I hold any hope for a turn around at this stage and in this process as if it did it would be the turn around of the century but maybe some people are starting to consider the benefit to concluding something reasonable now. I guess even at 5p a share equivalent I would be upset on what I could have missed out on but would probably send me on my merry way lol

Simplistically the company is going through an auction process instigated by the SL to enable them to get their debt back.

The CAG are then supporting Legal action by SH’s to recover investments based on the feeling some information/actions have not been inline with legal requirements or responsibilities, which may or may not be correct but the legal process will extract the truth and their is confidence there, such that a no win no fee process with e very reputable legal firm is being progressed based on information we have been supplied with.

It has a long way to go, which will take a long time via legal route but I think the good thing about the CAG and the people who support it will be that ultimately I don’t care if it takes 5 years and some money to confirm the truth. If that truth then shows all has been above board then so be it but there is enough public information that has negatively affected my ability to make a considered investment decision, with them late RNA’s on the TR-1’s being the final straw for me.

Eez, simple question for you. Why were TR-1’s notifications RNA’d 6-9 months after the position thresholds were crossed based on the party who crossed the threshold deciding it was a good idea to make the info public in March 2024 and not on the legal obligation timescales associated with crossing thresholds.

I would add my preference is a resolution outside of the legal recourse but I am a realist and that ship sailed awhile ago

Thanks RBM, this type of process we are all about to embark on takes time, effort, and acceptance of the long game.

I am sure like many others I am here to help, support, and get involved at the right time.

Are you really comparing this case to the post office case to highlight costs!

I really believe GST could be a company in the right place at the right time. I am certainly not a HNWI but since Jan been having a regular purchase to keep adding as part of my portfolio. Hopefully by year end it will have been a good choice but if goes well could still be buying then and not selling

Of course it’s not better to accept defeat, it’s better if all involved sign up for the class action and then the process will get to the truth.

The recent rns showing previous tr1 positions was the last straw to me as them being withheld, whilst shorting was ongoing would have directly affected my investment decisions so i have clearly lost out on lack of legal obligations being followed.

Rodney, great post.

However in the time available and the process we are in it’s never geared to help us PI’s. We would need alot of competition for the resources from a few parties who have not been involved at all to date but I think the time available will prohibit that. Would love to be wrong.

I have much more faith in the legal action to follow as I feel there is potential for a settlement or success in a case base on what’s available in public.

Forming had the recent tr1’s been released on time I would have run a mile last year, but someone withheld that legal obligation to publish and hence I had less information to make a decision than insiders so that is legally not correct.

Tonlin, there is no advantage but unless the process ends up with the SL and 2 other parties bidding then there is little hope of any value being achieved. If let’s say the JVP entered the bidding they will just bid a few more pennies than the stalk horse bid and given the SL will get their money back they will be happy.

The only hope is that there is already an entity that wants the asset and is due to get it from the SL and then another party enters the process and the party due to get it from the SL has to enter the auction.

Basically expect nothing as we have been screwed.

Exactly duster, let the sale pan out and expect nothing as no one is going to offer fair value until it’s sold on to the next entity after the SL gets it, and then watch who makes the money, and is involved with the entity that gets the assets.

Settle in for the legal aspect and if they are the qty of people suggested by RBM to be involved it will be a good legal process and one that will reach the answers as the resources will be available for the additional costs over and above the “no win no fee” aspect.

Let’s settle in for the long game and make sure that goes well.

Maid, I learnt a lesson because I had too much really in one stock so after the copl event I did a complete revamp of my portfolio and sold out some shares in riskier companies and dropped that into FTSE 100 or funds and currently they are performing really well.

The riskier ones are where significant money can be made but from this point onwards even if I am in them I will drop out the moment I think the financial mechanics are too biased in 1 parties favour.

I am actually much happier and relaxed in my portfolio now and will mainly trade larger shares and keep entering and exiting to take a 10-20% profit with a percentage of the holding.

Time will tell I guess and if the asset sale price brings in something to give the share holders great but just can’t see it in the time scales, because as you say i am sure there will be a buyer, who happens to want it reasonably cheap, but enough to make summit a few pound

There is always a chance but to get anything you would need 2 parties to enter the process over and above the stalking horse and I don’t see that happening, 1 could answer I guess but I assume they go 10% higher than the stalking horse and then win. No need to go high as summit would not try to outbid then imo.