Member Info for Oldfortyniner

But it ain't going to be tomorrow if they're waiting for summer sales figures as the first rumour suggests. Things have softened (it's what ice cream does after all! - sorry!) from 19% so I've taken the money and run! Good luck if you're staying.

I can't know if this will allay your concerns or not, but I am also someone who has been invested here since the IPO, and seen that investment reduced to about 5% of what it was. It is thanks to the recovery team that it is worth as much as it is; without their efforts it would be zero and there would be no company. I think what they are ensuring is that this company recovers its stability and strength and goes on to make a future for its investors, and for that they should be rewarded in proper form.

I think your ire is therefore slightly misdirected and should be rightly reserved for those who caused the loss of value in the first place and, to use your phrase, 'took us for a ride'.

I recognised what was going to happen to my investment and decided, rather than wring my hands over the loss, to have a strategy to rescue something. I felt that the original business was still the sound prospect it could have been from the off; the problem was the old management, now thankfully gone. My plan was therefore to reinvest and recoup my losses in the future, which will, hopefully, come about. If the recovery team bring that to fruition they will have my gratitude, and will have earned their fee.

It could be either of course. My own choice has been to do the latter, ready for when things do get going.

The other aspect which may be skewing your view of 'sells' is the perennial issue of the arbitrary algorithm which shows anything at less than the mid point of the spread as a sell, and greater than as a buy, irrespective of what it might have been in reality. I bought on Thursday at 1.37p in a spread of 1.35 to 1.40 and, of course, it shows as a sell.

RIR is right in what he says. Also anyone nursing a huge dilution to their LT holdings is probably in some form of shock and not selling. Those who've bought in the 'new' shares is waiting too. With one foot each in both of those camps the only thing I've done is take the opportunity to get it all into an ISA whilst it's still low cost. That achieves two benefits: a nice allowable tax loss on the old holdings which will help offset any gains elsewhere and when things do pick up with TGR, none of it will be taxable!

Validating the expectations in Mozambique is another promising step, certainly.

Just to add to the mystery this morning it looks as though the odd trade has been reversed out and replaced with an 'unknown' trade at 1.45.

There's a very strange trade after hours of 50,000 shares at 6.25p. Really??? It's not just an aberration on this platform; it appears on the London Stock Exchange trades list as well.

RP is right in what he says. Remember that this new board is only in place as they took on the shambolic operation being bled to death under SP's management.

Right from the inauguration of the requisition group they have wrested control back from SP, started getting the business back into shape, neutralised SP in terms of his holding in the company, and after all, we're still here today and not looking at liquidation.

Like you, RichPixie, I'm deeply underwater with my original investment. That is the price we have to pay for SPs shenanigans. My view is that this enterprise still has a future and I'm prepared to buy my way back. I've this week materialised my losses by transferring my old holding into my ISA and I've bought in afresh into the ISA as well, ready for growth.

Rather than just bewail my loss I hope that with the extra investment future gains will wipe it out. Yes, it's a risk but I think it will pay off. Once the repairs and maintenance, funded out of the restructuring, are done and production gets started on an economic basis for a change, things should begin to look better.

It sounds as though you feel you need some evidence that Mark Rollins and the other members of the Bold are committed to the company.

The simple fact is that without their involvement, this company would not now be functioning at all and would almost certainly be in liquidation. You also seem keen also to see lots of information coming through RNS, yet if you had read what has already been issued, you would realise that the BoD have, during the suspension, been easing the company's cash flow by not taking full salaries but taking the difference in shares to be issued. They have participated in the loan note issues on their own behalf, al of which supports the turn round of the company. Is that not sufficient commitment for you?

Sect 3 (Page 5 & 6) of the prospectus has a list of major shareholdings before and after admission of the new shares.

The Poddar holdings are significantly reduced. There are only two holders in excess of 10%, which are Shreya SDL Ltd and Inland Global Ltd.

There isn't a controlling shareholder.

Trading is now active on HL. I've moved my holding into my ISA in eager anticipation of growth!

Dealing is not possible yet on HL though it looks as though it's getting there. Initial prices shown were Sell 1.00 Buy 4.00 now it's Sell 1.00 Buy 2.00.

Whether that's yet accurate is questionable but it shows the sort of indicative areas we're looking at. Quite a drop from 6.25, but not unexpected as the CLN conversion is also happening pretty soon.

It's certainly been a long haul. Despite all the overshot timings and long delays, I think it's well done to the BoD for getting us here.

Fingers crossed for the future!

What a relief to see the overdue accounts issued at long last. A mention in there that the prospectus is under way too for the loan note conversion shares. A caution also that without the conversion of the loan notes before the 31st March the company could become insolvent. None of this moves at all until the shares are trading, so let's hope this all does progress as expected and we see the remaining action within the month.

Your point on courtesy is beyond question, so I hope that the 6 elapsed days since Jack said he wrote still constitute "a few" , as in the context of your exchanges with SP, and I hope that he does get a reply.

It's a pity that the business understanding with which you credit SP didn't seem to extend far enough to prevent us being in the mess in which we were left.

I suspect that what your asking them, nice though it would be to know, probably falls into the category of inside information until they are ready to tell the whole world. What I've noticed we haven't had yet is any indication of the approval of the prospectus by the FCA, which slots in somewhere in between the agreement of CLN holders, which we've had, and the publishing of accounts and relisting, which is what we're all waiting for. From what I've been told getting a prospectus approved can be a lengthy and complicated process as all the 'I's have to be dotted and 'T's crossed. Maybe that's going on as we speak?

It is my understanding (as a non accountant) that there is a requirement for companies to issue their annual report, and implicit in that, their statement of accounts, on the basis of the business being a going concern, or give statements on how the business will be wound up, administered, whatever. The definition of going concern seems to be that they can see 12 months ahead with no financial jeopardy (my words not the requirements). For reasons we all know only too well, the finances of the company were in a pretty pickle, which is why the recent fundraising and restructuring, however uncomfortable for existing shareholders, have been necessary. Without those being in place there was no going concern. Only as of yesterday the financing gained the approval of loan note holders, so only now do we know, presumably, that we can report as a going concern, the accounts can be presented, shares allocated and the listing restored. I'm as twitchy as anyone else about seeing things recover, but I'm prepared to see the BoD go through the steps they have to in order for it all to slot into place, whether that's literally the end of January or not. I think (and hope) we'll see more action very soon.

We can't know but I actually think not, as I don't see what there would be to gain from such a tactic. My 'watch this space' was that now the hurdles have been cleared this is the time something will happen. Be here to see it!

Today's RNS says note holder approvals for changes to the terms have been secured.

Looking at the RNS for 10th December its says:

Subject to securing the shareholder and noteholder approvals described above, the Company expects to:

a) be able to file its delayed annual report and accounts for the year ended 31 March 2025 in January 2026, together with delayed half year financial statements to 30 September 2025, allowing it to apply for the suspension of trading in its shares to be lifted shortly thereafter

I think it's 'watch this space' time.

"its a real exciting time to be a shareholder if you were lucky enough to take advantage of the low SP..."

I count myself as being extremely lucky, having bought in only Monday of last week! It's not often I actually manage to be in the right place at the right time but having just landed on my feet here, I wish every strength to our new Exec Chair, and good fortune to my fellow investors.