Member Info for miker444

If it is approved and i agree with JLF that it is likely a foregone conclusion then it will happen automatically, you will receive new share certificates or your CREST ( electronic transfer system) will be updated and the ticker will change from MDC to LEO.

Right JLF don't rip me to shreds just want your take on this as I have asked around and have been told that dilution will not directly affect individual valuation but reduce your % stake in the company. If you hold £5k now you will still hold £5k after dilution. If the share price goes down then obviously your valuation will go down. Keep reading ..because remember April 04th AGM this year MDC issued 300,000,000 shares ( three hundred million ) to raise cash for whatever which was a 30% dilution but actually the sp was not affected i.e it did not drop one jot but all our holdings decreased 30% company stake wise not value wise. Is it possible that if dilution will be for raising cash to invest in the company from start up actually enhancing sp value. This happened in April could it be the same again or at least not as tragic as first thought. I suspect you will agressively disagree, that's fine not here for an argument but the above did happen so which is it. Mike

Thanks, just stuck at work for 12 hours on a Bank Hol and bored witless so didn't mean to ramble on, thanks again for advice will give it a look. Mike

Any tips on any shares with potential/ worth a punt, practically out of money but trying to recover some losses if possible. Please don't suggest Leopard Oil. What are people's opinions of Pinnacle Technology (PINN) despite recent inactivity they are at a low and just signed a deal with Vodafone, looks like a steady rise 20 - 30 % maybe? Mike

Thanks Phil, can't see anything misleading but will see what happens on morning of 17th Sep. Ever the optimist. Enjoy rest of B/Hol Regards mike

Thanks Phil, talk is cheap i suppose. Mike

Last 2 RNS releases talk about enhancing shareholder value from a deal in final stages, from circular / JLF summing up difficult to see what is meant by that.

Thanks for taking time to reply, appreciated Mike

Joel. will have to wait and see on the 17th what the situation is. Can I ask if you are you invested here and if so what you propose to do as last paragraph states a winding up = shareholders nil. Genuine question as I can't see other options. Mike

They will a value once they start trading. Has it occured to you/anyone they actually might be more succesful than MDC once they get going. StuBhoy those that are invested here know the score, we are very down but we need to get something back. If you are not invested here well done but why your interest, please don't turn the screw mate for the sake of it. Regards Mike

I have just read the circular and it is very involved and complex but the gist is basically what i thought: Consolidation of 1000:1 ( One Thousand to one ) shares issued in new company for what we hold at present. Big paragraph at back stating if not approved shareholders will not recieve anything, not a threat, but states any revenue available will go to pay creditors/debts. We get an equivalent holding in new company % wise as we had in MDC and yes i know there will be dilution but there is a non pre-emptive basis to allocation of new shares so there will not be trading prior to new company start up. New shares issued at no value, volume only, until new company starts trading at whatever price. Lots more bumf, appointment of 2 new directors if approved. No doubt a lot of different views will be voiced here but to me this is as good as I hoped for. We have an option to move forward with new shares ( sell when appropriate and get our/some money back ) or reject and get no shares and that's the end of it. Regards Mike

Hi mate, You can vote by proxy, that is send your voting form with your decision to the Registrar's ( Capita I believe) or vote in person at the meeting. If you share deal through a bank i.e Lloyds/Barclays Halifax etc then they will be your nominee's ( you will have a nominee account) and you will need to contact them and ask for a voting form to vote by post/proxy or letter of authority to attend the meeting, you just can't turn up. If you deal direct the voting form will be sent to you in the post. I am not sure if a voting form will be available to download online with the circular but the above is correct. Your share dealing bank if applicable will have all the details you need to vote. Regards Mike

Threeputt, you may be correct in some sort of conspircy, as others suggested at the time, I don't know. All i know is whatever is true will jot change the situation we are in. I am not going to defend PJ but decide when i see the contents of the circular what i think the best possible outcome can be for me/shareholders. PJ still continues to talk about a deal which he assumes will be in the best interests to the shareholders ( 'enhancing shareholder value') and i am interested to see from the circular what this could be. I stated before and will keep stating it, and i agree with Mr Hopeful, that we can come away with something, however diluted, if we accept his proposals. My guess is , as hard as it is, if we don't agree his proposals company winds up = we get nothing. In my opinion It doesn't matter to PJ what we do, he can move on/ is set up with other interests ( e.g CEO TWL). Summary , simple choice for me, damage limitation, we get something or nothing. Don't let anger get in the way, lets come away with something. ATB P.S There is a small contingent on here who are not invested but will get off on winding up people's emotions, because they can, everyone concentrate on whats best for those who are actually invested, just 24 hours for circular.

You might be right StuBhoy, more importantly you might get your 0.7 sp in the new company yet! ATB Mike

JLF respect your views but I don't think trading will be allowed before new set up. That was my point, I am certainly no expert but there's such a thing as allocation of shares/securities on a non pre-emptive basis the whole point being to prevent such a thing / manipulation happening. You are correct in that we won't know until circular is issued but whatever happens I would still rather have 50% of my current holding valuation than nothing at all, as we all would (i hope) Regards Mike

Liam I agree with oilriches, After picking myself up off the floor these will trade again but under the name of Leopard Oil ( following approval of resolutions ) and as early as 17th Sept ( Day after shareholder vote 16th Sep). It's not what I wanted and it won't be the multi-bagger it should have been but you will hold same % stake what you have now with MDC but in another name. Aug 05th RNS has actually told us that sell off of existing business the most likely outcome and whilst it is a shock to read it in black and white that is exactly what has happened her with the latest RNS. If we go over to Leopard Oil we will hold those shares, it remains to be seen what they will do sp wise but at this stage I will settle for those shares against total wipeout. Mike

Clive, Circular not out until Tuesday, online or by post whenever that will be but as in this RNS and the one on Aug 05th PJ is still stating about a deal in advanced stages that he believes will be of benefit to shareholders/enhance shareholder value. So I think he is making a point that Intabet does have value but to someone with a gaming license and not MDC. To me MDC does not exist anymore in its presnt form, its gone. With a consolidation of existing shares 10:1, 100:1 1000:1 whatever the conversion we will all at least hold an equivalent % stake in the newly named company Leopard Oil. As I have seen with other companies on AIM if we do not approve the proposals put forward ( whatever they are but consolidation is a definite) it will go into administration / dissolve and any spoils that are left have not gone to shareholders as dividends but to creditors and debt payment. Just my thoughts but my conclusion is it is black and white, absolutely nothing or a % holding in the newly named company. ATB Mike

Thanks JLF, Just thought with all the current anger around that people would 'vote' against to show PJ their disapproval but as understandable as that is it really would be cutting off your nose to spite your face (and both arms & legs!!). Wait and see what the circular holds and go from there, not holding my breath anymore just resigned to damage limitation. Have a good weekend, whats left of it if you can. Regards Mike

Ryn, Fair comments, I think if the share holders do not approve the resolutions then quite simply MDC will dissolve, it will go into administration and nobody will get a bean. Any revenue in that scenario will go to pay off the creditors and definitely not the shareholders. An approval, whilst not to everyone's liking will mean a consolidation of shareholders existing holdings into the newly named company Leopard Oil. That is the only way I can see any of us coming away with anything. Consolidation will be 100;1 or in my opinion 1000:1 where each share is worth £1 so existing holding of say 10 millions shares @0.1p ( value £10,000 ) will be 10 thousand shares @ £1 ( same vale ie £10,000). Just my thoughts, a no vote = diddly squat a yes vote something. ATB Mike

Don't know what to say John if I am honest, feel a bit of a fool and blown the mortgage endowment shortfall to boot. A harsh lesson is an understatement as I also held faith and hope in PJ. Put all my eggs in one basket so that's me done, well and truly. ATB mate. Kind Regards Mike