Member Info for legache

I am not suggesting that I can be forced to sell. Not sure why your framing it like that.

Odd you've made a decision without reading the circular, which was meant to be released today.

Why would I need to interact directly with the board of directors, this is a listed business and they have a duty to make all the relevant disclosures.

Don't trust these corporate finance guys, they have not got the interests of LTHs at heart. LTHs built [and funded] the business, and now they're trying to take it from you. Don't let them.

The bottom line, most of us hold several businesses in our portfolio and have full-time jobs. I live in UK but nowhere near London and frankly I don't have the time, like Ned, to attend AGM's. That's another reason why staying listed is important: trying to stay on top of what is going on in a public company is hard, but in a private company, its impossible.

Ask them about plan B, when this fails, and its highly likey their plan will fail, whats plan B.

I suspect the answer will be something along the lines of "you silly PI's better vote for this otherwise we're going bust". In which case, put it to them they have assets worth multiple of the cap - why not sell up and we can all get on with our lives.

But of course they won't do that, they like their overinflated salaries and cushy LTIPs too much.

Cynical, me?

At the time the deal was in train, sdx declared it was worth more than 75% of cap which at the time was around 7 million gbp. It's not worth far off imo

Indeed, this changed in the recent budget. Still a great deal if you are exposed like I will be.

Come on.... Really?

"Its just not made public"

Happy to help you Ned, on this one.

AIM companies must adhere to specific governance and regulatory standards, which can offer smaller shareholders some protection and recourse. Governance standards in private businesses are typically defined by the company’s articles of association or shareholders’ agreements, which will not provide the same level of protection...

Second. AIM shares are exempt from inheritance tax. I lose that benefit if they end up succeeding.

Third. As a private business SDX MGT will not be required to provide the same level of disclosure [s], making it harder for us to assess the company's performance and risks - Aelph will have all the inside information and use it to "refinance" - i.e. suck the life out of us.

Lastly and most importantly, the trades will be strongly to the sell side in any matched system - meaning Aeplh and others can "screw" as Maestro puts it, smaller shareholders.

Enough for you ned?

It a pretty short time to get anything organised going. In 3 weeks the decision will be made. But yes, you're absolutely right , maetsro

About 140 million, no note needed.

Indeed. Suspicious.

Spot of Tigris. Aim has a lot to answer for, but it's disclosure rules allow us little folks to see some of the information the rest have access to.

At last.

Ned, you've lost the plot a little on this. Unless, of course, you are so close to the current regime that you believe it's a good idea to join them.

Stockholm syndrome?

The idea they would have consulted enough "major holders" to get to the 75% they need is unrealistic - the largest holder [Aelph] has ~9%. Even combined the top 5 holds have ~30%

Aleph Commodities Ltd & directors of its group companies 17,003,563 8.31%

Rath Dhu Limited 16,000,000 7.82%

Transact Nominees Ltd* 15,630,513 7.64%

Parsimony Limited 13,337,511 6.52%

Gipson Family 12,324,000 6.02%

IntegraFin Holdings plc 11,878,592 5.81%

UBS Wealth Management* 11,694,561 5.72%

Mr Krassimir Katev 9,428,580 4.61%

Dr Valerie Brackett 8,370,150 4.09%

Hargreaves Lansdown* 7,431,387 3.63%

D'Amore Family LLC 6,666,667 3.26%

Still all to play for IMO. They've consulted Aelph who want this private so the disclosure and transparency rules don't apply IMO.

What makes you think major holders think this is a good idea. I content not. I think Aelph and associates will think this is a good idea and have effectively forced the executive to do this, who have no skin in this anyway.

Let's see how the vote plays out, but I would suggest, given the reaction I have got from several PIs I've spoken to, that this wall flat. Aelph hasn't got enough, even with the transact shares acting in concert. IMO DYOR

Yeah, hear you, Maestro. We need PIs to turn out, but we also need several large holders to side with us. If you were a medium sized holder, would you be happy with what Jay et al have done.

I give Gould credit for cutting expenditure to the bone, however, he's got no skin in the game [those options up to 50p now look completely laughable]. So, doesn't really care about holders like me who have owned this business for many years.

We need a concerted effort to get the PI vote out. I am doing my bit.

I don't reckon they would have... If they have, I cannot see the reception would have been positive. This has Aelphs fingerprints all over it.

We don't need 51m votes btw, we just need 25% of those cast.

Post-delisting, SDX's share will become even more iliquid this will make it even more challenging for small shareholders like us to sell our holdings or realize fair value

Ned, thats one concern, but not the only...

I am flabbergasted based on what you've said in the past, that you think this is in any way going to be an accretive move for small shareholders. Aelph are already taking the Micky and I guess are hoping that not enough of us will vote.

I say they have badly miscalculated this...