Member Info for shylock

How lax! Apologies to the BGBL board.

http://atwonline.com/airlines/africas-fastjet-outlines-four-year-strategy?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+AtwDailyNews+%28ATW+Daily+News%29 Nothing new - except they seem to think Kenya hub will come before Zambia…

…especially those with a sizeable interest in the second distribution (thanks to a lack of patience and clarity, most of mine have been cashed in - but judging by the informed [insider?] buying right up to the bell, the payout should be at or above expectations). My last post here so I wish you all wealth and wisdom and thank you for your insights and forbearance. And a final thank-you to John Grant for steering us through choppy waters to a safe mooring. I hope our paths will cross again.

Kamel, good luck with FJET. Not a good day there today but it takes a while for a stock to turnaround after a big fundraising. I'm hopeful that the increased flights, August passenger numbers and September interims will see it starting to move up at last -- always assuming that Ebola doesn't shut the whole continent down! Here, AIUI, the shares will still be traded for a week or so after the 11p pay-out so any movement in that period will be interesting. I confess to having sold a chunk, partly because I reckoned I could leverage the funds better elsewhere rather than wait an indeterminate amount of time for an indeterminate second pay-out. Had the company issued an RNS to update the position wrt distribution 2 (timing, if not quantum), I could have been persuaded to let it ride. Indeed, the SP movement today suggests that someone knows more about distribution 2 than we do (hopefully not Hawkwood or any related parties but it looks like someone is confident of getting at least 3p). Thanks for the pointer to Omega Diagnostics. Would I be right in thinking that this company poodles along taking a step forward here and a step back there and not making any money for its shareholders of the past seven years…until or unless the great white hope that is CD4 explodes into a commercial maelstrom and makes everyone rich (at last)? It might happen - but my experience in similar stocks is that they take forever to get CE and regional regulatory approvals for their miracle cures. Could CD4 still be years away from generating any revenue? And what kind of deal does Omega have with the Aussie not-for-profit inventors of the gadget? It's the kind of company I would like to give a good shaking to because they clearly have good products/treatments and they seem to have a global empire of sorts but they get excited about very small increments on fairly low base numbers. Perhaps their patents are worth more than they let on but I would really like to see them signed up to some juicy marketing/licensing deals with one or more blue chip pharmas. Maybe CD4 is the key to the door but will I live long enough to see it come to market?

All resolutions passed with a vengeance. Interesting to see one or more buyers happily hoovering up PIs' cast-off shares at 12.75p. It looks like someone is confident of making a decent profit at that level. Must be an II imho -- sizeable chunks and repeat buys don't suggest PI trades to me. Could be that some insider knows that 14p aggregate is nailed on, and could be more.

"Perhaps it is just me but I'm amazed at the number of disposals at this level." ===== I assume mostly people who are unwilling or unable to wait until Sept 2015 for their second tranche. But that timeline isn't set in stone: if they can do a deal via an insurance scheme or similar for a modest outlay, the second distribution could be later this year.

It's good to have confirmation that the delisting resolution won't be thwarted by the biggest shareholder. I wonder if he got some inside information about the run-off schedule…?

Hi Kamel - yes it is and no, the company isn't expecting claims of anything like this amount; nor are they expecting anything like £3.2m of claims for Utiligroup. According to the circular "it is expected that there will be some small claims under one capped indemnity which was given on the sale of Bglobal Metering" so make of that what you will since "small" could arguably range from 10p to £100k. As for Utiligroup, this was a sale to management and so the terms will be relatively friendly. Obviously, no significant claim is anticipated at this stage or they would have included details. Presumably we can expect the total withheld cash to increase to £5m+ if the Nutech building sale proceeds smoothly. It doesn't look like we will see a run-off schedule since one would normally have been included in the circular. In that event, we'll have to wait for the liquidator's statement of account to see where all the money went. In the interest of transparency, I hope they re-think this and put out a run-off schedule before the GM as it could influence the voting one way or the other and I would rather see all the cards on the table.

Didn't the circular also say that the builders are in at the Nutech building, converting it back to standard offices? I assume it is therefore uninhabitable.

Hm, no run-off schedule. That won't please 30silver -- or me. Is one coming before the vote? And we seem to need a reserve of £2.3m to cover claims arising out of the disposal of bGlobal Metering. Is that actual/known claims or potential claims? Is this something we should have heard about before now? Any offers regarding an explanation for the downsized withheld cash (£4.7m vs £5.1m) and why neither figure equates to the two reserve pots totalling £5.52m (£2.3m + 3.22m)?

http://bglobalplc.com/wp-content/uploads/2014/07/Bglobal-circular.pdf

This explanation might help some folk: http://www.nortonrosefulbright.com/knowledge/publications/26522/b-share-schemes-will-uk-listed-companies-look-to-return-cash-as-capital-rather-than-income I'm not clear myself whether shareholders will have the option to take the distribution as capital or income. Personally, being semi-retired, income would be more tax-efficient. Failing that, I would like to defer capital (until next April) if possible.

I might take a look at other companies Hawkwood are invested in. I like having an activist major shareholder as it saves me time and effort. Otherwise, I'll probably buy some more FastJet and Nighthawk Energy stock. FastJet in particular looks set to grow exponentially from its current very depressed SP having just raised a large swagbag of cash and appointed new directors. HAWK is a recovery oil play which I've been in since 4p and now has production of over 2000bopd and likely plenty more to come. The rising oil price is helpful too. SXX is another worth keeping an eye on over the next few months as its new potash mine planning application goes in next month and should be determined by the end of the year. It's a binary bet though. I've taken a punt on a Scottish gold resource too (SGZ) which will hopefully come good as the price of gold recovers. I only have a small portfolio but I tend to commit quite heavily to a stock and then sit and wait for as long as it takes.

The eagle has landed. Congratulations to JG and all shareholders.

"Seems like my attempt at humour just missed the mark somewhat." ===== Au contraire, mon brave - it seems that mine did.

Kamel, do I sound like a mug to you? No, my Nigerian intermediary is the Auditor General of African Development Bank - the widely respected Mr Suleman Bello, who I'm sure will be well known to UK fund managers… http://goo.gl/Yuf8mw

It's inconceivable that our fund manager chairman would leave money in a current account when it can be earning interest for shareholders, including Hawkwood, elsewhere. In fact, it would be a very bad advertisement for Hawkwood so it won't happen. And yes, they will have to opt for a safe and boring facility. But with my own cash I can get 7%+ via intermediaries in such safe havens as Turkey, South America, Nigeria and the Middle East.

"The disposal of Utiligroup Limited is expected to be completed on Friday 20 June 2014" So, £16.1 million incoming tomorrow -- presumably to be put immediately on deposit somewhere. We could earn £100k+ per month in interest if it goes offshore…

Sold. 99.99% in favour.

I wonder if we'll still be listed at the time that the asset sale proceeds are distributed to shareholders. If so, the SP will presumably drop to 1p…