The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
I think if he eventually pays anyone, that should resolve it!!!
NOTE:
'We have been advised this will be concluded by week starting 4th March 2024 and will revert back to shareholders to confirm.'
So, that tells me it won't and there will be another pushback. At every turn, there's always something, isn't there?
Don't forget...
We would like to thank our valued shareholders for their continued support and patience.
More chance of seeing Lord Lucan!
To be fair to Harry & Meghan, Amit would take some beating at this stage. Gone quiet again, must have gone back to the tally stick!
I think he has only confirmed what everyone suspected if the website has been taken down. He has effectively confirmed 7 plus years of misery for a great many here. In a strange way, I am glad because I always had misgivings about any of those updates, and in the end, I think he’s run out of ideas.
Personally think he (or someone) has pulled the website. So many incriminating (but needing deep pockets to prosecute) comms on there. I think he did a runner a long time ago, this was just a front I believe. Nothing was ever sold. No funds will be making their way to any shareholders. Time will tell. Well done, done your kind no end of goodwill.
...and it has been a while. Now it's just descended into a farce. No one believes any of these supposed updates anyway, as every update is followed up by another one which is just as untrue as the previous one, and the previous one! You can't believe a word he says or tells someone to say via that website. I wish it would end one way or another, it's been torture, as I am sure it has been for many. I have a parent with dementia that will outlive this nonsense.
...a load of crap and now it's unravelling. Well, it started unravelling a while back when he was rehashing updates that basically reiterated the update before! He (the company, sorry) can apologise all they like, but they're just hollow words and promises, none of which come to a conclusion.
I wish this was dead and buried and never resurrected... I'd just about forgotten about it before all this nonsense.
The Company confirms its book closure. The final number of shares in issue is 999,895,500.
7th September 2023
The CEO is participating in the Morgan Stanley 21st Annual Global Healthcare Conference.
The DaaP sale announcement will follow by the week ending 6th October 2023.
The Company confirms its book closure. The final number of shares in issue is 999,895,500.
All details in the 1 June update remain in place.
...it really is tragic and extremely predictable from someone who has, well, surpassed himself.
30th January 2024
The paying agent processing the payment transactions are experiencing difficulties reconciling the number of shares in issue due to miscalculation from a UK broker. The company was only made aware of this discrepancy recently and is working to resolve this.
The company is discussing the option of proceeding forward with the distribution before resolution of this issue which would entail retaining a nominal amount in trust until the situation has been fully resolved.
What's the nominal amount $49,999,999? More importantly, no (no) broker has seemingly had any communication, which means none has been made, so none of this is true is it Amit?
Don't buy it. Too many excuses that seemingly end with another set of time delays and excuses. If he (or those 'agents') don't deliver it tomorrow, then I think we safely assume ALL these previous communications were, as noted by those more critical of Amit Ben Haim, correct.
...I don't think he can 'kick the can' anymore. 50m supposedly in escrow over 6 months, DaaP sale announced as they are interlinked. Negotiating an enhanced payment. The list goes on, and on, and on...
'The proceeds arising from these both sales will be distributed only on the announcement of DaaP sale from the buyer as they are interlinked.'
'rest of us can see it just fine'
Nope. I can't see it or access it.
...Angus, he's more than paid us all with words, what more do you want?
Can't wait to see what he puts out this time! It's getting comical.
"Are we seeing an update?"
Who even believes an update now? Not one has kept a date or come to fruition. 31st January is nearly upon us, what excuses next one wonders?
...it won't matter what colour if the date (31st January) comes and goes without any contact. How many dates and promises that have come, gone and missed a date, time and time again?
4th October 2019
The Company has 752,282,424 shares in issue at the date of this update.
AMIT BEN HAIM – 162,894,143 – 21.65%
7th September 2023
The Company confirms its book closure. The final number of shares in issue is 999,895,500.
AMIT BEN HAIM – Unknown – % (Securities information has not been updated on the website).
An additional 247,613,076 shares between the above dates. The securities information has not been updated on the website since 08/09/20, at which point 'The Company' had 942,586,567 shares in issue at the date of that update.
https://ibb.co/8gPmwZj
Have all these shares gone to Amit Ben Haim as payment in kind or been offloaded elsewhere to raise funds?
"This timetable has slipped slightly at the behest of the Company (as explained below) and now, they affirm to establish contact with shareholders either directly or via their investment platforms during the following days ending 31st January 2024."
"during the following days ending 31st January 2024"? Where are the days/dates, did I miss something?
Then...
"The payment agent has given assurances to the company that it will be notifying all shareholders in a timely fashion next week."
...so not during the following days ending 31st January 2024 – next week is 22nd – 26th January 2024.
Getting mixed up Amit, which one of the above is it now? I'm certainly confused, is anyone else? Probably irrelevant as I doubt anyone will be paid anything. If this small portion is so protracted, what's the next portion going to be like... 2025 anybody!
...eventually, if no one is paid anything, fact! He won't be that clever in the end.
Hubbabubbas, I only have to read the below paragraph to see months of further delays!
'As disclosed on the 20th October 2023 and given the delays experienced during last year, much outside of the Company’s control, an enhanced payment for the DaaP sale has been negotiated. The Company is delighted to confirm that an agreement has now been reached in principle with the buyer to apply a rate of interest to the previously disclosed consideration for this period. We look forward to confirming the final terms once the licensing payment procedure is completed.'
1. 'reached in principle' (not final then).
2. 'confirming the final terms once the licensing payment procedure is completed' (see above sentence).