Member Info for oldspursfan

You are of course looking at the ex-dividend share price spikey, yes?

Trowtech we've been around long enough to remember the BoD quoting expressions of interest, and non-binding offers. However none of these can be classed as formal, binding, agree-and-its-done, offers for any of our assets.

The BoD implied last time that they had received such offers but rejected them because they were not material.

No materiality threshold has ever been stated, and regardless, it's good form to advise the market that we have had a formal offer for (insert asset here) of (insert amount here), but have chosen to reject it as we believe it in no way reflects fair value for shareholders. Any submission of formal binding offers should not be covered by NDAs as its the conclusion of the process.

This would have the benefit of telling us all yes we can get parties to submit formal offers (confidence), and gives us an idea of where the SP floor should be, and what the BoD are looking for. 4 years down the line we're still none the wiser on any of those.

Hi gruffles.

Personally I see no difference, or indeed any concept of materiality when it comes to M&A. Offers are either made or not, and are formal or not.

But CS specifically said "no material offers", so he obviously thinks there is one, and dangled the idea that offers had come in below it. Be good to know if that is true but they just haven't yet got around to telling the market, or if he thought the dark art of spin was a good route to take when dealing with shareholders last time out.

Can the BoD confirm whether they have received formal offers for company assets, which they rejected unilaterally, on the grounds it did not reach a certain level of materiality?

Or did CS pull the "no 'material' offers" quip out of his ass last time, because it sounded better than just "no offers"?

The evidence of how much they tell us certainly supports that Stretch. The only caveat to that?

The credible party exists, they've made a proposal that would breach Rule 15 and allow us to (potentially) pay a significant dividend, and they have completed their DD, confirmed in writing.

All-encompassing NDAs, but that lot wasn't covered?

Just replied on t'other thread, s2b,I'm getting old lmao

S2B, it's not an actual placing I'm talking about, they don't actually have the authority to place directly with preferred parties, as we rejected it last AGM.

If it's a normal one, this coming AGM will inevitably have resolutions relating to placings, authority to place up to £x nominal value, and approval from shareholders to bypass our rights and place directly with institutions. The latter is a special resolution and needs 75% support to pass.

I admit I am surprised the resident cheerleaders didn't pick up on this year meaning 12 months until the next AGM (despite me suggesting it back in October). They instead latched onto the last 5 months of 2023, and embraced defeat when it didnt happen by then. Everyone should know you need the widest, loosest interpretation of what CS says to stand any chance of being right.

Bit harsh on Big Sam, at least he could do a job more often than not. We don't need flair and pretty tiki-taki play right now just someone who can get formal bids in.

Any. Please.

I'm more inclined right to play a game of guess how much placing authority (nominal value, bypassing shareholder pre-exemption rights ofc) they'll ask for to strengthen the negotiating position this time around. Thinking £1m, double the last time.

Don't forget we have the AR due in the next two weeks, so plenty of reasons to remain optimistic.

And CS said "this year" nearly 12 months ago.

Hi gecko, welcome back! Yes I'm fully aware the BoD have used the RNS system more to tell us what isn't happening than what is, so we could possibly be seeing the NOMAD acting as their mouthpiece. Not the way I like it, mind, but open to it being true.

Marco yes I thought he may have meant Lesego, but the discussion was in the context of the 2019-20 sp surge (5000% increase, what was that all about?) Maybe JM is doing a Biden, but he could also be unwittingly filling in blanks.

Particularly like the comment that the credible party didn't submit an offer in due to the location being in Russia.

Call me cynical but how much DD would that have taken??

This is interesting thank you for the link my_username

So according to Meyer, the credible party completing their DD was African, there is current formal interest from the Chinese and the Company has sold half its stockpile of pgm concentrate.

Granted the latter could be inferred from the subsidiary accounts, but I don't recall the BoD confirming any of these? Is meyer running his mouth again, or can we add that to the "massive dividend" list of things he's taking artistic license on?

No smoke without fire? Guess we will see.

GLA

About 2 weeks afterwards, we had the suspension pending announcement, oops no announcement, sorry we just added Artem, farce.

Whether that's insider knowledge others can decide, but I remember the don't shoot the messenger but... episode well.

Just for clarity...

Lenoman

Posted in: EUA

Posts: 3,395

Price: 7.60

No Opinion

Good news6 May 2022 11:51

Don't post on here much nowadays, long term holder and patience is the key. I'm informed that news (all things being on track) is imminent next week. Good news for those holding so if you can, stay patient , but each to their own. Not given as advice, so don't shoot the messenger

Lenoman

Posted in: EUA

Posts: 3,395

Price: 7.75

No Opinion

RE: Good news6 May 2022 13:00

Kingofclangers,

Now that did make me laugh. Obviously I cannot reveal my source, only to say he is a large holder and I have every respect for the info he has discussed with me. I felt it was only right to share a positive view for once on this somewhat toxic board, and like I said don't shoot the messenger. We can only make our own choice, on the investment we have chosen. I stay patient and look forward to news imminent

The main caveat for people looking in is that so far the BoD have said and done nothing to support or justify this rise, it's speculation based.

If we'd spent another week at 1.5p instead, nobody would have thought that was odd.

Yes we're due news as it's Annual Report month, but in practice that news might well be unexceptional - last year nothing much happened of note, and there's nothing definitive to point to that tells us a major announcement will land. It's all hope that something has leaked somewhere.

Yes I would love some positive news, ideally a conclusion to this interminable sale, but just be prepared that a boring AR and routine AGM agenda may well be in the pipeline instead.

GLA for today

At a rough guess Mr Twisted:

Annual report: for the year ended 31 Dec 23, we produced nothing and sold nothing, and scraped through on tax credits. The MT DFS was approved but we're not telling you what's in it.

Notice of AGM - submit your questions and we'll work on non-answers.

Queeld court case - "doesnt impact sale"

Sales update - "still progressing"

Now where's my salary...?

Thanks CS

Way to puncture that bubble. Have you just confirmed your no confidence vote?

Personally I couldn't give a toss as to whether Putin is a tyrant or really nice guy within Russia.

Tricky the main question is do you believe Putin will not interfere with the proceeds of an asset sale for EUA, should one occur? Also do you believe he will not interfere with the distribution of the proceeds to shareholders?

If your opinion is that he is really nice, but will still claim a 50% haircut and ban dividends to the UK, then it doesn't matter what the British press say, negative opinions of him are perfectly valid.

He'll be looked upon favourably here if he lets it go through at full offer value and allows the company to pay dividends. However nobody believes he will.

Press reports become irrelevant.

Should stay away longer Mongooser! ;)

The last 4 days of posts summarise as speculation. Nothing formal yet released confirming anything is afoot. MT DFS has been spotted on an obscure Russian database, the one that was approved a year ago but withheld. This may mean we will get info, which could be the final step to a sale announcement.

Nobody knows for sure but the SP activity suggests something for the BoD to explain.

Explanation/update?

Speeding ticket with "not aware of any reason" for increase?

OR - Suspension pending announcement? And No, not like last time...

Take your pick, but feels like something has to happen.