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Decision day today. I'm only a very small player in this, but money is money as they say.
Got 400 shares bought for 220. Been offered additional 600 at 88p. is it worth doing or should I pull stumps out?
I'm not concerned about the five hundred quid for purchase and would leave shares for at least a year. Comments please.
For all similar minded people, maybe I'm a jinx. My last dabble was in Sirius Minerals. lol.
Thanks for your reply.
Is the share price likely to increase following the rights issue or has my investment plummeted (bought for £2.20) because of rights issue?
Hi,
Sorry for my ignorance, but I have a query. I recently received notification of a rights issue with IAG. I have 400 shares at the moment invested with HL.
Am i right in assuming that my 400 shares will become 400 rights and I can purchase 200 shares at .92 Euros per share.
When the rights issue happens on 17 Sept I assume my existing share value will be decimated. Is my only option to recover the position by buying shares at .92 Euros.
Could someone clarify what happens and what action would be advisable.
Again, apologies for my ignorance.
I voted no, but I think it's pretty grim at the moment. Seems like the threat of the project being picked up after administration is looking ominous.
I wouldn't be surprised if the BOD have smuggled some sort of nest egg in anticipation. I hope their individual finances will be scrutinised following the end.
Interesting.......Despite living in the south, I emailed my local Tory MP for his views on Sirius. I also emailed MP Northern Powerhouse MP, Simon Clarke(MP for Middlesbrough South).
My own MP replied saying he was less than happy with the situation, (an email I'm not allowed to make public, due to House of Commons regulations).
The MP for the area and Northern Powerhouse, hasn't even bothered to reply.
Suggest a few more people email this silent MP for his views as I'm assuming, (yes, an assumption), he doesn't give a toss.
I live in the South, though born and bred in Teesside. Although I sympathise with the workforce at the mine I don't think it's right for investors to make a personal financial decision based on the job prospects of a community many miles away from them. This is not an, 'I'm alright Jack,' post. I am highlighting the fact that the community jobs are a smokescreen for CF and AAL to get the deal done.
If the BOD had been offered nowt, and I mean NOWT, then I would have voted yes.
Can't get my head round any of the BOD walking away with ANY money in their pockets, so just placed my vote with HL...
A big fat NO.
If receivership happens then at least I'll feel happier with myself.
Has any local MP brought the subject up at PM questions in the HP?
My experience of the politicians is that they are burying their head in the sand until it goes away and hiding behind the jobs being kept on despite the shenanigans.
Having been swayed to invest in Sirius by the appearance of several MP's on TV, (Question Time) and the then, PM Theresa May championing the project as a beacon of light post Brexit, I thought I would ask the opinions of a couple of Tory MP's for their stance on the debacle.
I contacted Simon Clarke, MP for Middlesbrough South (he of Northern Powerhouse fame) and my own MP bob Seely MP for IOW. (I'm originally from N East lived on IOW for over thirty years). Support my roots etc.
Result.........Zilch. Conspicuous by their silence,
Think the former is hiding behind the fact that jobs will be kept on as opposed to misery heaped on local investors through shady dealings of BOD.
Convenient blind eye turning if you ask me.
Appreciate your vitriol kevinkjse, but draw the line at your comment as though you condone the bullying of his kids. (if that was the intention).
As far as giving site workers a bonus: That is a big mistake. Nobody wants to see people lose a job, but to spout off about keeping jobs and looking after those concerned is bullsh*t.
Thousands of innocent hard working people have been wrongly tempted to invest in this **** up, so in my view everyone should be a loser, (BOD included).
The people championing the security of employment are cleverly using it as a smokescreen, including local MP's, because it means they can sit on their hands and do sweet FA and get away with it.
If some lose.... we all lose.
The SM situation- the way politicians have been made to look foolish by championing the cause pre Brexit (Theresa May included) would make a good TV documentary (Panorama, say). Why have the Beeb not looked into making such a program, or have they and been dissuaded by the big players who want the lid keeping tightly shut.
Is it too late to pressurise them?
One of the most common sense posts I've seen on this forum. Everything you say makes sense.
Thanks for your information, it was very helpful.
Excuse my ignorance, but can someone please outline the specific path that will be taken if a NO vote puts the project into administration?
If the shareholders lose their investment, does this mean that someone comes along and picks the whole shebang for a pittance? If so, are any secured loans paid back?
Could my query be answered with a list of specific events once receivership is confirmed?
I have just received a phone call on my home number (2.30pm) by Anglo American. I was out, so my wife took the call and they declined to speak to her as she was not the share holder.
Are they contacting everyone?
Still undecided which way to vote.
If the No vote causes the project to go bust, couldn't the 85,000 miffed local investors (or any miffed investor) donate 50 quid each to buy 4.25 million quids worth of concrete to pump into the shafts (leaving the boring equipment in place of course) so nobody becomes a winner. My 50 quid would be winging its way there.
There'd be a lot of satisfied people around or will the vultures circle and make money out of the carnage by getting it up and running.
I am only in for £5k, but to me, its still a lot of money to throw away. My sympathies with fellow holders with bigger holdings.
I will vote no, but if Anglo A. were to pull the plug on the x millions compensation package to CF and his cretins, then I would probably pull the stumps out and reluctantly vote yes.
What is the approximate breakdown of holdings between the different groups ie. Quantity of shares held by BOD, institutions and small investors. Apologies for my ignorance on this as I'm only in for £5k and have just joined the forum. I'm what you would call a naive mug, lured by the eulogising of local MP's, CF and his con men and various politicians (inc Theresa May spouting off the virtues of the project post Brexit).
Not sure whether to hold out or jump ship.