The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
Correction. My figures should read 20% of shares and not 20% of shareholders. I realise that the two figures could be vastly different just as 80% of BHR shareholders doesn't mean 80% of the shares. It does prove that if enough shareholders speak out and vote on resolutions then the little guy can make a difference.
Andy and co have been encouraging shareholders to vote and become involved. RRL seemed to be the catalyst for several such moves and everyone who supports Andy and co should have a look at this mornings RIG site or WS for today's news. The new BOD at RRL seem to have accepted that RIG represent about 20% of shareholders and have offered to meet RIG reps in London. Some things are worth fighting for and it is satisfying to see positive results. Hang in there BHR holders as lets face it 2015 can't be much worse than 2014 has been.
Got a great Christmas present from TD. This morning it shows my BHR shares at 23.40p and my investment is up by 25000%. What are my chances of being able to offload them at this price? Any takers??????
Just wondered where the very blunt statement on their web page that we may have less rights than other UK registered companies came from and what it was they were inferring.
Andy On the company web page where it shows "Shareholder analysis" it finishes on a disturbing sentence "The rights of shareholders may be different from the rights of shareholders in a UK incorporated company." Do we know what different rights we might have or more importantly what rights we may not have?
My mistake Andy. I read on the web site that they were headquartered in Johannesberg and never read further to the incorporation in England part. It does raise the question however of what control an English court has over assets in Mozambique. Can you enlighten us on that? I'm not panicking on the admin/liquidation aspect but concerned about the quality and integrity(!) of the BOD
Is anyone familiar with South African company law regarding Liquidation/Administration? BHR have asked a liquidator for advice. Under UK law it is the Courts who appoint an independent liquidator/administrator and not the company. Anybody know what the score is under South African company law??????
You highlight a problem that we tend to overlook and that is the function of the NOMAD. In this case a NOMAD earning their cash would not have sanctioned the communication to the brokers and should have by now notified the markets that the consolidation did not go ahead. The NOMADS are supposed to advise!
The following response from TD re my email enquiry clearly shows that BHR informed the market that the shares would consolidate today. Some buggers went and screwed that up at the meeting :-) "The corporate action itself is communicated out to clients following direction from the company involved. In this instance we communicated to yourself what BHR advised. If as you say at the AGM the consolidation was voted against and is not to go through, this will be reflected in the next communication from BHR when it relists. At present, having chased this, unfortunately they have not supplied us with an update. As soon as we get the communication back from them, we will update your account accordingly." It looks like the brokers are in a bit of limbo waiting from communication from BHR to cancel the original message. There is apparently no problem until it comes out of suspension which I think will be well into January or later
Copy of the notification sent out by TD on the 15th Consolidation -Ratio: 1-for-1000 -Ex-Entitlement Date: 18th December 2014 Beacon Hill Resources PLC has announced a 1-for-1000 Consolidation, whereby Holders will be issued with 1 new Share in exchange for every 1000 Shares held. The ex-entitlement date is 18th December 2014. My TD account shows no code or number of shares held, rather depressingly it still shows my loss. I've emailed them to ask why the notification of the 15th is so definite that consolidation would take place today as it wouldn't surprise me that the BOD were intent on the consolidation irrespective of yesterday's vote.
I received notification earlier in the week from TDW telling me that the consolidation was to take place on the 18th December, no ifs or buts. It was this communication that prompted my query about an RNS. It is possible that someone at BHR, confident of carrying the vote has put out at the beginning of the week that the consolidation would take place today. I've checked TD this morning and my shareholding hasn't been diluted, it has been removed entirely! A further mess to be cleared up.
to all those little guys/girls who voted NO and showed the BHR BOD that they can't just ignore us. Possibly since the start of AIM RRL and now BHR have shown that when small non institutional shareholders act together, orchestrated by people like AndyMK then a result can be achieved. I think BHR will be taken over rather than administration/liquidation unless of coarse the BOD have told massive lies.
If the shares are in suspension there would be no need to supress any news as the news would be of little value until after the suspension is lifted. I don't think the market rules allow price sensitive information to be revealed at the meeting so it is all down to the votes. I think the suspension is down to the BOD running scared. I can't think of another set of circumstances where the shares are suspended during an AGM/EGM. The Range coup started a ball rolling and the BOD here started to panic after the Range result as was shown by the flurry of RNSes and offers. Red Emperor have now started a campaign against their BOD. If because of our vote today BHR goes down it will send a shock wave through other AIM share BODs. It might mean a loss here will save us cash/share value elsewhere There is certainly a new move starting on the market as the shareholders start to regain some control. Good luck all! Chicken Coup - thanks for the apology. A lot of nerves have been shredded on AIM in the last couple of months
Thanks for the apology. Yes. Not only in RRL but BHR as well and I won't mention the other AIM dogs that I'm in!!! Good luck to all those attending the meeting and I hope BHR can do a Range on the BOD!!!!