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You are guessing big time tsl board are going to hold block shares for some time to gain the value you want. There is nothing in any documents to say they won’t sell quickly. I have written to thinksmart twice and they did not answer the question twice.
Does anyone know how we place our vote as I can’t find any info on tsl website. No instructions
I will vote against. Everything in their reports upped the share price value. this deal destroyed sp which is saying it’s no good!!
I got message from bacanora this am saying they paid money on Friday. Iweb still saying they had nothing. It’s got to happen soon then. It’s been ridiculous wait
In June 2021 tsl had a valuation of clearpay as £125 million. 6.5 cash and other assets were not included in that calculation therefore 70 odd million is way off. Secondly there is absolutely no evidence that the board of tsl will hold the block shares for any length of time to make up shortfall. Tsl are winding down operations. I would like someone from the board of tsl to clarify these two issues. History and state of company doesn’t suggest anything positive in this regard . I would be more than happy to be wrong and if I am why has share price plummeted . The share price explains it all. If people thought it was good news they wouldn’t be selling.
Tsl sold 90% of clearpay for 1million afterpay shares on 23aug 2018. On 24 aug 2018 they sold 750 afterpay shares for 20aud . Feb 2019 sold remains . How short sighted this was! They are now underselling the remaining holding in clearpay with no indication how quickly they will sell block shares.
Ned is resigning after sale of clearpay! They sold their 90% afterpay shares the next day after acquiring them. If there was so much potential to keep 10% clearpay why sell afterpay holding so quickly. They lost tons of value. There is nothing to say they will hold the block shares a day or a year . They are winding down.
Tsl shareholders are not getting block shares. Tsl are getting the shares and they can sell them whenever they like. They won’t be waiting so you can get 100p as they are winding up . It’s not a good deal if shareholders are not getting the true value of clearpay. After pay is down at the moment because they are in the middle of being sold. We should be getting an independent valuation of clearpay and block should be allocating that value using the current price of their shares at the time of the deal.
Ok ! I wondered how some are getting a good deal.
Why would anyone give an assets worth 125million for 79 million on the punt the block shares will rise. My question was how long is thinksmart going to exist for the shares to rise enough to make up the difference in value. They have not said how long they will keep them and what there selling price would be. Why would you even guess this. The company is in a wind down. Who in their right mind gives away a valued asset for nearly half price on a punt of something else?
I have received email from company. Still got other questions. Once got clarification will post.
Sorry didn’t see misspelling.
I just typed in www.thinksmartworld.com. Link is on front page. Latest downloads
I will vote against
The circular on the website explains the deal clearer than that rns. Obviously it’s still an awful deal which we don’t have to accept. I think they should explain what happens to company once this deal does take place either now or later. It makes a difference to how to vote.
The circular on tsl website explains it slightly more clearer. So tsl get block shares to sell when they like. But it’s how many we get is the issue. It’s not enough in value for clearpay. They are selling it cheap.
I would ask why do this now in the middle of a deal not completed . If block has so much potential then tsl should wait and get a better deal for us. If we say no got nothing to lose.
To add to my previous. As block has bought afterpay they told us block would take the option to buy the 10%clearpay
I don’t think we will get block shares. Tsl get the shares to sell when they want. I don’t think we get the shares but I really don’t know what is going on here. Thinksmart should lay this out clearly what happens to our shares.
I don’t know why we are talking about the proposed value of block. I didn’t invest here to have anything to do with having any shares in block. At no time in any docs did they say they would be accepting shares in square/block I would never have invested. The point of holding was the value of clearpay being sold and the money distributed to shareholders just like aviva is doing when they sell assests. It is obvious this board is having a laugh at our expense because with one rns they have reduced share price from 90p to 57p which shows how incompetent they are.
Agm statement 10th November 2021 valued clearpay as £125million now they are looking to accept £78 million. Why are they accepting such a ridiculously low value. In their agm statement nov 2021 they said they believe there is future upside potential for shareholders. This needs explaining. They say they are winding down. I can’t make out how long this company is going to keep trading after this sale. Does anyone know?
I have emailed the company.
Are we being given a few shares in block in addition to keeping our tsl shares? Once this happens will thinksmart still exist because they are still running a business?