Member Info for mathsprof

OTCBB is not "recognised", but the main markets are.

" Stocks and shares ISAs can include: shares and corporate bonds issued by companies officially listed on a recognised stock exchange anywhere in the world" Quote from hmrc.

Jimmy

but Jimmy was the only student who's probabilities always added up to more than 1

No I wasn't thinking of the transfer of existing GAF shares to XEN ones - ie the cost of the deal. I suppose the price of the deal will be worked out as "cost" / no of shares already in issue. If these (consolidated) shares then start trading at, say 15c for 1 XEN share, then we can deduce the cost of the deal, and will have a price of our own shares. But they may have other plans! If there's a placing on top of this, that will determine the "cost" of the deal too.

If there is no placing of new shares, there won't really be a "price" in the offer. We will be offered a consolidated pile of worthless US shares, which will gain value from XEN when US trading commences. But there may be a nominal amount quoted, but my guess is that it will just be using the exchange rate to price XEN in cents.

And presumably the offer will include details of the US placing - that's where the actual pricing will take place.

would you expect to hear news about court? An RNS saying application successful? A notice form the court? Or an RNS about an offer? or. . .

but mercedes is triquertra astra

but one word of caution - wave 4 could drag on for another month or two.

Just read your post on VAL bb. I'd sold out in SLN in September after the last wave exceeded my expectations - and hindsight has it, did so to my gain. Just looked at the 1 year chart again today. If the wave 4 pattern is nearly done - we could be in for another good rise. 350p plus do you think? Its a lovely formation at present - ready for the off?

RNS today. Brings the 40p up in comfort. I think I'll have to reduce my projected timescale for a debt free company worth 70p a share. Now up a staggering 132% this year - and we're not talking about a minnow that has grown from nothing.

From price paid must be a late report of a trade made before yesterday's news. . . . .

Yes. What's happened to the other 30 shareholders in GAIF? At present (11 Oct) 31 people own the shares of GAIF and they will continue to do so. These shares cannot just be given to XEN, can they, even if they're worth nothing? We won't issue new XEN shares to GSL holders - they will issue new GAIF shares to us, unless I'm completely missing an important point. I suspect the attraction for GSL is that XEN will pay a fee which will mean that their liabilities can be met, and then the helicopter subsidiary can be sold off (to Mr Nagler?) for a nominal amount as a going concern.

you can't make worthless shares into 6p, 11p, or 33p unless you issue lots of them! I suspect that from the share sale of 11 Oct that 2c is a generous valuation of GSL!

http://biz.yahoo.com/e/131011/gaif8-k.html http://www.crmz.com/Report/ReportPreview.asp?BusinessId=18825738 Interesting to note the sale of 100m shares for just $500

shares seem to have a quote of 2 cents at present. Would imply then that these might become as much as 6-10% of issued share capital of the combined group, given that current m cap of XEN is about 15 times that of GSL.

Don't GSL have to offer billions of new GSL shares to XEN holders, and the existing 135m shares effectively become their payment. Then there would need to be a massive consolidation to bring the SP up to a sensible level, probably above 50c. Suppose 135m shares become 3% of enlarged capital i.e. 4500m shares of 1cent each or so. Consolidate by factor of 50 or 100. Just speculation - we'll see in due course.

Have you ever heard of a reverse-takeover? It's basically a cost effective way for a company to get a listing in a new market without having to jump through costly hoops. By reversing into an almost worthless company, which has already ticked the appropriate boxes, XEN will achieve a listing in the US. The reverse-takeover itself has little impact on the worth of your shares. However the benefits of a US listing should raise the SP.

Think back to 2011. Then shares were issued at 11p - but PIs didn't buy since the SP was under that. Shares could again be issued at a premium to today's price - and even if they are not, I believe that they will trade in US at a premium to today's price.