Member Info for RKBeekeeper

Good Morning Matlot

It is good to see that you here as there are not too many Posting with your knowledge and ability.

I am busy most of the day and do not think I will be able to post some of my thoughts here for a few days but what I can say from personal experience (being aware of some of the workings and very bad practices) of a major Scottish Bank is that very few people really know what goes on. I had the misfortune to know Fred Goodwin (the guy who lost his Knighthood and rightly so in my opinion)

RKB

TR1’s

Good morning Linandy1

I do not recall our Company issuing TR1’s except when the new Nomad took over and “forced” Eufingest to TR1 and disclose the beneficial holdings under their “Eufingest” umbrella. There were three actual holdings held within the percentage disclosed but they were being economical with what they really control.

I managed to extract with constant probing that A Villa “had disposed of his entire holding” and this could have been a TR1 RNS but he may still ultimately control these shares that “he disposed of”(that is advantage of being Swiss and Nominee Accounts and parties being complicit for facilitating) If this Post is removed then you will know they are not happy with what I write.

You have to ask the question: why does our Company not issue TR1’s? What advantage do they gain by not informing us?

Oneknows could be correct in that our share price is low to facilitate “a low ball offer” and lack of confirmation of last Friday’s Court decision (which was in our favour) Now the RNS said “The result of the meeting is expected to be received by the Company’s lawyers within the next few days. Once received, the Company will issue a futher update. Should the Court rule in favour of Fallimento Mediapolis Srl, it will be responsible for distributing such funds in favor of Clear Leisure 2017 Limited, less certain expenses.”

Our BoD, Nomad / Broker and PR are all aware (verbally) of the Courts decision (which I reiterate was in our favour) but they all choose for whatever reason to delay communicating with shareholders that we are about to receive €1,550,648 (more than the current Market Capt of our Company)

The only valid reason to delay informing us of the incoming €1,550,648 is that the BoD are awaiting a letter from our Italian Solicitors and they are delaying communicating (in writing for some undisclosed reason)

With regards to an RTO it is my opinion that this would have to come from a listed Company to gain advantage of our £40 million of Capital and Tax losses. Others will say a private company can be used but a “private company” would not want to pay hard cash for our shares (that they do not currently control) so they would have to issue shares.

RKB

Annual Results

I have made my initial purchase today and it is not often when I buy a new share that it shows a profit at the close.

I used to work for a large Scottish Bank with a year end of the 30th September (their parent Bank was in Australia) and often the full year results came out within 6 weeks of the year end. I note that Metro Bank managed to get last year’s Results out within 8 weeks and I would like to think they will do so next year with a similar timescale.

You may think it is irrelevant how long it takes to issue Annual Results (Lloyds 10.5 weeks, RBS 7 weeks, Barclays 7.3 weeks) but the sooner the Results are published can (in my opinion) mean they are “better” (than previous years)

I scrutinise Annual Reports in fine detail and look at many things, Banks are one of the most complicated and by far the hardest to find out if they are telling the truth.

I believe Metro Bank will shortly re-rate and I believe this will begin no later than the day after the General Election.

RKB

PS Our underlying earnings per share for the first 9 months this year are £0.38p. No doubt the shorters will want to discredit these earnings but you only have to look at who are buying via TR1’s and they will actually struggle to keep the share price at current levels.

You are selective. If you had been part of the football team then you would know what we were doing. To refresh your memory it was to outwit the MM.

Regarding Trades, from all my buys and sells I have (had last Friday) over 10.5 million all on free ride. So even though some 4 or 5 million were bought a few months ago at over 100% of current price of last Thursday, I am on a free ride with the lot.

As you are jealous that you have not been able to make a decent profit here I don’t know why you bother to post.

Now getting back to the decision of the Court last Friday, it went our way. Don’t believe me? Just wait until the RNS drops.

I wish you well.

RKB

You are selective. If you had been part of the football team then you would know what we were doing. To refresh your memory it was to outwit the MM.

Regarding Trades, from all my buys and sells I have (had last Friday) over 10.5 million all on free ride. So even though some 4 or 5 million were bought a few months ago at over 100% of current price of last Thursday, I am on a free ride with the lot.

As you are jealous that you have not been able to make a decent profit here I don’t know why you bother to post.

Now getting back to the decision of the Court last Friday, it went our way. Don’t believe me? Just wait until the RNS drops.

I wish you well.

RKB

Hello Chriszzr

I only sold because I am on a free ride with my 10.5 million.

When you have LtdAxis and others taking £37 gross profits then I am not prepared to sit and watch them take the price back down sub 0.2.

Let’s use 1p just for this Post. Say I wait till then and try and sell 10 million, would I get £100,000? If MM wanted to accept my shares I may get 0.7p or maybe a little more but they would need buyers.

I made over £50k on a free ride with VELA and I sold small amounts to meet demand but my mistake there was I had all my money out below 0.3p and had a few million that I sold slowly right up to 1.6 or 1.7p (can’t recall at moment and not on laptop)

I attempted to articulate that AIM is not working and I will continue to top slice (slowly) My average when I sell (on the way up) may be less than the noticeable 1p but I will not have crashed the price.

I will also try not to post during Market Hours so as to avoid the Trolls who will use their childish phrase “pump and dump”

I have been to Italy, I tried to bid for the Land, been to AGM’s and have grownup conversations (with audit trail) with BoD.

Let’s see our Blue Moon as they don’t come round as often as we would like.

Enjoy your day, mine will not be so good as I am with sister in law who has early onset dementia and I am the only one she trusts.

Trust is something that not many are good at especially on B.B.

RKB

Part 2

AIM is not what it was over the past year. Yesterday we have LSE saying we are up 19.51% but it is really up 26.32% and this is because the spread on Thursday was 0.19 – 0.22 and Friday 0.24 – 0.25 and I always use the Bid. So we have gone from 0.19 to 0.24 which is an increase of 26.32% according to my slide rule.

So on an RNS that did not indicate the Ivrea Court’s decision we are technically up 26.32%? Why is this? Could it be because there were more buyers than sellers? Could it be that we are attracting attention? Could it be because of some other reason(s)?

We have a large legal claim against “Sipiem’s previous executive management team and internal audit committee for fraud and mismanagement.” This is for €10.8 million and the way FG has structured this is we would receive 70% of any payout. Note our legal costs have been capped at €35,000. Now when legal costs are so low this tells me it is a “done deal” But it is up to you to make your own mind up on this.

Then we have the Sosushi’s legal claim for €1,030,000 and again legal costs are estimated at €20,000. Again not a large amount for a €1 million claim.

Finally, our investment in PBV Monitor. “As part of the investment agreement, Clear Leisure will be granted a seat on the board of PBV, will be appointed as exclusive advisor to PBV regarding the possible sale of PBV from 1 January 2020 for a period of four years will be entitled to a 4% commission fee on the proceeds of any sale.” Now how large are our Tax Losses?

RKB

Good morning Carrefour

Part 1

Technically there are two Court Cases, but in this Post I will assume you mean the Ivrea Court case that handed down their decision yesterday (which we await)

The Ivrea Court case is basically a technical decision on what to do with the proceeds of the Mediapolis Land Sale (which was sold at Auction to the sole bidder, the Farmer, on 25th July 2018) Yes 16 months ago, the Auctioneer has had in his possession (or the Liquidator) just under €2 million.

Now Clear Leisure 2017 appealed and appealed and appealed and eventually FG (who is a patient gentleman) stopped appealing and requested the money because we had a First Charge over the Land. Now most LTH will now be aware that the Italian Legal System is unlike the UK’s and things go at a snail’s pace (or slower)

So how it appears to work is that we request through the Ivrea Court the Liquidator to hand us the money (but only 80% as they hold back 20% just in case there are some bills to pay) The net proceeds we are due is about €1,550,648.

So in my opinion there will be no issue with “not winning the case” it is already decided that the Funds have to be disbursed and all we are really waiting on is an RNS to say when we expect to receive the money.

RKB

Last post tonight Foolsgold.

I did Higher Accounts that’s all. Along with Higher English and then my HNC had 10 subjects. The plan was to get Higher English so I could go to University but I got a job I’m NCR in Glasgow. £750 a year in 1974 and I earned £4,500 which was the same as MP’s then. But I took the honest career not like Boris or Corbyn or Goodwin. Should have went into Financial Services sooner and if I had I would not be posting.

RKB

Well I failed my O Level English (somehow managed Latin) English is not my strong point but Mrs does proof reading) maths is what I excel at and back to old school I was taught to use a slide rule.
There are exiting times ahead and as LtdAxis is impatient he will not have long to wait.

RKB

PS I paid myself to get my English teacher two hours a week to assist me (result) then next year at College I took an HNC in Buisness Studies along with Higher English and Accounts (passed) and should have went into Accounts but went into Computers and had a great career until I joined a Bank and had the miss fortune to be near Fred Goodwin an unfaithful dishonest lowlife. But now it’s all coming good with Clear Leisure.

Good evening UnkwnTrader (sorry but I have to start with a capital as I am old school where we got chalk thrown at us and the belt (tause in Scotland) )

It is to be blue till the next Blue Moon(31/10/20)

Now will FG tell us about the other 8 legal claims? Don’t believe me? Just email PR

RKB

Good evening Carrefour

I will answer hopefully tomorrow but late afternoon.

I have been out all day with granddaughter and taking her to see Frozen 2 (well I got 3 coffees while wife got the film)

I am on my second glass of Red and watching Question Time (well I like a laugh)

I have commitments tomorrow most of the day so hopefully I will have time as I said later in the day.

RKB

Nice Rise This Afternoon

I was not expecting an RNS this afternoon. As the Court closed at 12:30pm (11:30pm our time) There appears to have been no advance knowledge of the Court’s decision until FG issued our RNS.

I had said to a few trusted friends that I was not expecting the RNS till Monday at the earliest.

The total trades in previous four days were 1,460,062 and today on our RNS we had 5,553,121 before RNS and after we had 22,913,753 (total today 28,466,874)

Now we had LtdAxis do his usual small trade for a profit of £37 before two sets of charges.

I top-sliced today in three trades. I sold 500,000 at 15:27 and then 538,000 (but this one should have been 523,00 but I messed up on my iphone) and then I sold 1 million at 16:18) Now if I had sold at LtdAxis price I would have received £712 less than I did. I only sold because there was a demand for shares and I supplied a little. I never unload lots of shares so as to crash the price and I never will.

When FG does receive the money about €1,550,648 he may not “hand it to Eufingest” watch this space.

RKB

PS Now what position is FG taking up in January?

Monitoring

Today there was only one trade (a sell) for 100,000 so on the first day that our 8.19% shareholder was permitted to sell they did not. Only 20 business days under the “structured lock-in period” left for any potential sells.

I have been monitoring all trades for a while and will continue to examine each trade until the day after the General Election.

Our BoD (and Broker) requires our share price at a minimum of 0.25p before they can issue any further shares (at nominal value) and that would mean an increase of about 25% from current level.

RKB

PS Only one week till the formal approval from the Ivrea Court to assign the funds from the Mediapolis funds (money) Initially we are expecting 80% of the money that was paid for the Land by the Farmer, so about €1,550,648 or using exchange rate €1.10 to £1 we may receive about £1,409,000. Our Market Capt. at 0.19 is £1,258,505 and we are due the above and at some point a further 20% or £281,800.

Consultation

Sometimes once in a blue moon on the News there are reports of “Mass Hysteria” in some schools in some faraway country. This is often reported as one pupil fainting then another and then often dozens fainting, but often it is just an urban legend.

Now with our share price there appears to be over the past few months some sort of downward spiral but is it happening because one holder decided to dump and then another and then dozens follow?

So I decided I needed to have a “Consultation” with Dr Francesco (Dr is an honorary title for the purposes of this Post only) Now Dr Francesco has a distinguished academic career (specialising in Artificial Intelligence) and also a distinguished business career with some notable successes) As you would expect Dr Francesco is surrounded by a Team of Experts namely Dr Reginald who has detailed knowledge of the Stock Market long before computers were common and offers invaluable council to Dr Francesco. Then there is Dr Christian the world famous South African Heart Surgeon who performed many life saving operations and is working on a few more at present. Also assisting Dr Francesco is Mr Keating & Mr Mackay (note the term Mr is a senior title for Hospital Consultants)

Now my consultation with Dr Francesco lasted six days. As you would expect when you have a consultation you would want to ensure that your health questions are fully explored and everything is examined and they were. This consultation was not taken likely, when I have a concern that I believe needs to be fully explored then that is what I do. I was pleased that it was not just a quick cursory examination and that Dr Reginald, Dr Christian, Mr Keating and Mr Mackay were consulted and I was given “the all clear”.

I was relieved with the diagnosis and the medication (a little blue pill, which I am assured, will assist my heart to pump better and maybe the share price)

RKB
PS I was so relieved after my consultation that I had a top-up this morning. Now the strange thing is I had a limit order in to almost match the last trade on Wednesday but it did not trigger and I had to go online and execute it. Funny how automatic trades don’t work. Maybe the blue pill has still to kick in.

PPS who else got the blue pills?

Re-visit ForCrowd

I have posted recently some thoughts on ForCrowd and I have said that I do not think they will exercise their “lock-in” clause where they can sell €40,000 worth of shares and if they sell for less than 0.3483p then the Company will make-up 90% of their actual loss.

But there is a possibility that things could change because there is a clause that I have overlooked. When ForCrowd were regulated in Italy (I believe 13/06/19) they have to begin within 6 months, “The equity crowdfunding platform Forcrowd must start the portal manager activity within six months of the aforementioned authorisation. The platform will specialise in finding equity for SMEs, even non-innovative ones.”

Now FG said in the RNS 3/10/19 “Test phases are due to be successfully completed in the next two months, with the first crowdfunding operation expected to be launched in December 2019.”

So starting portal manager activity could be “testing” or it could be “live” so there is a deadline of about Friday 13th December 2019 to get this up and running. Now if the platform is not functioning what does that mean? Would it not have been wiser to have the “lock-in” period beginning say from 16th December?

ForCrowd have from 15th November to 15th December to unload a few shares, possibly about 18 million or about 3% of our Company. Will they? I still do not think so and I think they will retain all their shares (well I am an optimist)

RKB

PS Hello Oneknows, were you banned recently as you “disappeared” ? (one knows as one has contacts)


PPS LtdAxis if you had sold your 3,811,078 (1m, 1m, 1,311,078 and 500,00) then you would have received £7,050.49 (before charges) and your costs (before charges) were £7,291.05. Which would have been a small loss of about £240.55(One Knows)

Good morning Steve888

Yes it is very quite here at the moment.

It is also very quite from the BoD also.

Last week I emailed FG, RE, PR and Nomad / Broker with eight questions, as at time of this Post there has been no reply. Now this could be because they feel my questions do not “deserve” an answer or it could be that they have their thinking hats on.

FG knows what I am capable of from past experience when I mustered sufficient proxy votes to defeat a special resolution and if needs be I will call an EGM.

I will wait till Friday before I fire first shot.

RKB

PS Royaldoulton apologises for the brief response last week but I was on the road.

Yes

RKB

Information

Information is an integral part of investing in shares. If you read trade publications, company reports (Annual and Interim Accounts) and RNS’s and do some Company House research then you would think you would have a fair chance of making an informed choice, or would you?

It is often said on B.B. that shares are forward sold but almost nobody has been able to prove it (watch this space)

On another share I found 12 or 13 anomalies that indicated that 1.2 billion shares were forward sold and the company found a novel way to sort this “local issue out”.

Now if a Company was going to do a placing at multiples of their nominal value there could be an opportunity to “forward sell” (if that is allowed) but in Clear Leisure there can’t be any forward selling as we are currently under nominal value (but this could be wrong)

FG recently made an investment in ForCrowd with a lock-in period with a clause about the “new shareholders” being able to sell up to €40,000 of their shares between 15/11/19 and 15/12/19 and if they sell below their cost of 0.3482p then they can claim 90% of the difference. So if they “begin” selling next Friday (officially) at say 0.18p then on paper they would be down 0.1682p per share.

How many shares could they “unload” from next Friday? Using exchange rate of say €1.10 to £1 then they could sell about £36,364 shares. They could sell about £36,364 worth of shares at the prevailing price of say 0.18p and they would “unload” about 20,202,020 say 20 million.

Now if they did “unload” 20,202,020 shares they would have technically been worth about £70,343 so the paper loss is about £33,980 and we would be liable for 90% of this “loss” so about £30,581.

So we have to issue them with shares to make-up their “manufactured loss” but we can’t issue shares less than 0.25p so I will use this for calculating how many shares FG has to issue for this poorly executed “deal” and it is about 12,232,727 shares all because our shares are currently low.

It gets worse, because in 12 months ForCrowd can sell all their shares under the same terms and basically bleed us dry.

Now when/if the Company, PR, Nomad / Broker come clean and inform you as to the true beneficial owner of ForCrowd is, then you may finally understand why the Company agreed to this “lock-in” very disappointed.

Getting back to forward selling, what do you think has been going on with the recent share sales? Answers on a postcard to:

https://www.fca.org.uk/markets/market-abuse

RKB

SP Angel Corporate Finance

Not only are SP Angel our Broker they are also our Nomad.

We have John Mackay who is a Partner and Co-Chairman and Jeff Keating also a Partner but he is head of Corporate Finance.

Now from their website it says “Jeff has undertaken expert witness work in relation to AIM and is currently a member of the London Stock Exchange's AIM Advisory Group.”

Now this may prove embarrassing for him if I have to contact LSE.

RKB