focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
Spoke with them again this afternoon. Apparently, the shares were held in a nominee account and the majority of holders (by number of shares) had agreed to tender. On a majority rules basis, they tendered all shares. Maybe my ignorance of how nominee accounts work but still seems odd. As I said in my earlier post I had decided to sell anyway but baffled how they can act in this way without at least telling me. They had written to me about the offer and if I wanted to tender I had to positively respond which I didn't. I'm not convinced the people I spoke with really knew what had happened as I was told a different story this afternoon. Not out of pocket but will probably seek a written explanation.
My first post here but have read with interest all the comments over the past few years. Have been a relatively long term small holder with my first purchases being at the £1.50p level. With everything that has been going on I finally made a decision this morning to sell. When I went to do this through my on-line account the sale was blocked. When I spoke to the broker they had already tendered my shares (and everyone elses they held) as they had been told by the company that the offer was now unconditional and they had to as Delek had reached the required holding! Whilst financially I am not out of pocket as I had made my decision to sell there is something seriously wrong happening here. I asked why there was a 10 day extension if there was no option. The person I spoke to did not know why and merely stated that the company had said the conditions had been met and they had to be tendered.
Sorry - should have said 'in English'.
Full press release now on Minera website.
Most interesting part of the report is on Page 11 under Outlook which says that an 'equity offering is expected to be required' to supplement any agreed Senior Debt facility.
Maybe old news but I hadn't come across them before. On the English version of the Minera website in the Investment Centre under Financial Statements are a detailed management report (20 pages) up to 31 March 2016 which was released in mid May and also interim accounts for the first quarter of 2016. Despite everything there is still cash in the bank!
Can be viewed on Minera website. All very positive including the possibility of re-listing on AIM.
New release issued today. Can be viewed on Minera website. Mainly about South American subs but also- 'In addition, Minera IRL announces that Mr. Francis O'Kelly has been appointed as Chairman and Interim Chief Executive Officer of the Company and Mr. Carlos Ruiz de Castilla has been appointed Interim Chief Financial Officer. '
If anyone holds shares on the Alliance Trust platform there is no decision to make as they sold all holdings on 13th at 16p. I received a letter today confirming this. No advance warning!
First ever post. Alliance Trust sold my small holding yesterday and are only writing to me today to tell me! When I called earlier today they said something similar to HL .I will have to wait and see what their letter says. Disappointing as I have been a holder for a couple of years and was hoping for better things long term.