Where do we go now10 Feb 2017 13:35
UVEL shares are waiting to see if the company Chairman manages to complete his sale of shares, representing 51% of the company, at around 2.3p to 2.4p a share. All depends on approval by the Chinese mainland authorities and the investor completing.
The shares trade at a 65 to 70% discount at 0.775p a share. Problem for investors is that there is no certainty of completion : No certainty they will gain as Chairman Stephen Koo is set to do.: Even more uncertainty as to the plans the new investors have with control of the company.
Downside could be cancellation of the AIM market quote, though no comment has been made on that from any source, I might add. A Hong Kong market quote is possible in addition or instead of - no comments anywhere on this either.
So, very cheap compared with what the Chairman may get for his shares; he will remain a 21% shareholder. So patience needed and hope this all comes off favorable for shareholders.
My view is the shares are a gamble. But probably a fair one.