Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
Let's see where it is in 6 months eh.
You buying in then Hepran?
Clearly some folk with an axe to grind are dismissing TW on the aforementioned website, and I'm no fanboi of his, but when you have a Chinese company that appears to be winning contracts, is generating cash, has cash in the bank and is trading on a crazy low PE yet the share price is trending ever downwards, then it is clear that the market doesn't believe the numbers. TW gives his view on the bearcast from 3 June this year; I haven't looked into this company, but having seen what has happened with other similar China plays (as mentioned by comeonvog below), I would be very wary on this one. 67% down over 1 year, 35% down over 6 months, 6% down over the last month (despite the 15% pop today - on less than £7000 of trades) tells you something... But each to their own, if this is the best company you can find to invest in, go for it, but do make sure you do your DD first.
As comeonvog said in an earlier post, be very careful here... have a look at s/h/ar/e/p/r/o/p/h/e/t/s/./c/o/m for more info...
It's just a shame that we lost our AIM listing! Surely any relisting would incur a significant proportion of the cash left in the business. I know that cash shells are cheap at the moment, but still, it would have to be a really compelling proposition to warrant spending our cash on that rather than distributing it to shareholders. Nonetheless, it's positive to hear that there may be life left in the business here! I wonder what the 'new project' could be... something with synergies with the app presumably (otherwise I fail to see the point...).
Well they're going to have to expect the mother of all deramping if they ever decide to tap the equity markets for PI cash in the future. In case you didn't realise it boys, PI money is not yours to simply withdraw from the business to fund your vainglorious lifestyles. You should all be ashamed of yourselves.
Thank f*** for that. Well done Ben and the other members of the action group. #ShareholderActivism :-) Now let's find enough evidence to nail these greedy b*****s.
Toffee = BOD shill. Let's see if you're still here when there isn't a vote to influence eh.
The more I think about this so-called shareholders' meeting, the more I'm wondering whether it could merely have been a device in order to disseminate pro-BOD comments on bulletin boards from supposed shareholders. After all, the BOD have been employing whatever tricks they can in order to obfuscate the truth of what's been going on; this could easily have been their last throw of the dice to influence the vote.
Forgive my cynicism, but a post supporting the BOD from a new user with no posting history doesn't carry much weight with me....
anyone going?
Let's have the cash and near cash distributed to shareholders and, if he's so keen on the app, maybe our '£1m investor' might want to make us an offer for it...
Well since Drummond mentioned near £1m of cash and near-cash in his presentation just prior to the suspension, and the recent circular states that... "Following suspension the Board were quick to reduce the head count and overheads whilst the Company decided its future path. The Board suspended Directors’ fees, the development of the Teathers App and cut costs to make itself as attractive as possible to RTO suitors" ...theoretically there should be a decent wedge of money to distribute to shareholders upon winding-up of the company, If not then that's when we escalate the situation to the FCA to investigate. It's going to be interesting to see what the FT writes about the company - Bryce Elder in yesterday's Markets Live wrote: "yep, we’re watching the Teathers Financial story. Having followed it from the outset, here and elsewhere. It’s the kind of story that needs very careful phrasing though, given the gravity of what might have gone on. Expect coverage later, in a more controlled forum." The phrase "the gravity of what might have gone on" speaks volumes. Fattal, Drummond, Jagatia, sleep well boys.
The BOD really are pulling out all the stops to try to avoid the EGM vote going against them. It would be laughable if it weren't so pathetic. I hope that no shareholders are gullible enough to fall for more of their crap.
I'm with Leew on this one, this whole '£1m investment' is a nonsense intended to pull the wool over our eyes. Who on earth would trust the current BOD running a private company, whilst our shares in it are essentially untradeable. Just look at the evidence of how they've perfomed thus far. Does anyone really think that their progress and corporate governance thus far would translate to a relisting in the future? IT WON'T HAPPEN. Just look at how moribund the app has been during suspension (and prior to it, frankly) - it's failed as a business, at least under the current BOD. If this '£1m investor' is serious then let them buy the IP off the company, i.e. the shareholders. The only way to get anything back from this fiasco is to get the current board out. Anyone voting for some supposed investment from one of JD's cronies is a turkey voting for Xmas - your money would be lost, of that I am certain.
The reputational damage to him of being associated with a misadventure that bears all the hallmarks of a fraud must be immense, not to mention the ignominy of perhaps being banned as a company director. Being seen to do the right thing by his shareholders would go a long way to minimising that damage. The key thing now is to ensure that all shareholders vote to replace the BOD so that they cannot pull the wool over our eyes any longer. Transparency is key now. The BOD have proved that they cannot provide this, thus they must be replaced, and any empty promises that they make disregarded. We need a light shone into the murkiness.
I would have thought AIM Regulation would be the first port of call, even if it's just an exploratory phone call at first. http://www.londonstockexchange.com/companies-and-advisors/aim/advisers/aim-reg-team/aim-regulation-team.htm
I was under the impression that an AIM listing has a value since it may be treated as a cash shell that another co. could reverse into (something of the order of £500k?); I certainly took this into account when investing. What then would happen to our listing should we delist? Would the shell still exist or just disappear? We own the company so we own the listing, surely? When we were suspended I had it in my mind that should the company still not meet AIM regulation, the assets would be disposed of and monies returned to shareholders; in addition the shareholders would still own the AIM listing that could be reversed into at some point by another company (retaining its value to some extent). Any comments?
I think it's worth considering the different stakeholders here: 1) Shareholders 2) BOD 3) NED 4) NOMAD 5) AIM Regulation 6) FCA I think that us shareholders are in a somewhat adversarial position to the BOD and NED here; I'm not sure how helpful the NOMAD will be to us (TW mentioned in his Bearcast that the BOD were of the view that since the NOMAD signed off on their investment policy it was in adherence to AIM rules, and if that's the case I'm not sure whether our case is strengthened or not), and I have no idea of the necessary protocol to get AR or the FCA involved. Does anyone here have a view of how to proceed in order to exert shareholder power to vote against delisting (percentages needed etc.)? I can't believe any (impartial) shareholder would vote for it, so surely it should be a no-brainer to vote down the delisting?!?
Has anyone given him a ring? It's probably bad form to do so, but his phone number is on his holdings RNS, so it's kinda in the public domain...