Member Info for SteJSteJ

I'm confused Eileen by your anger here. How many shares did you have? To have a decent sum post consolidation, you must have had a lot.
The deal proposed was as close to getting nothing back, so why are you surprised people voted against, especially given the benefits the BOD were going to get out of it

Must be true based on no evidence. Good one

I would have lost 95% of the value of my original investment had I accepted the deal so I am quite proud that shareholders were able to vote such a terrible proposal down.
I'm amazed it made it to a vote at such an awful level of consolidation.

Other than the sp movement, nothing has changed for the worse in a long time

Marginally worse off financially than had the deal been approved, but feeling a lot happier that shareholders actually have some power in these situations.
While the future of the newco might have been rosey, I doubt it would have 20x for a long time, if ever

The deal was pretty awful though, hence why the majority said no. Correction, the deal was fine with the exception of the dilution, hence the majority said no to that part of the deal.
I'm amazed it was even presented to vote on given how awful it was.

I suspect lots were in for the sale. They feel it's further away now due to the development of the new JV sonare moving money elsewhere to chase short term gains. Just my thoughts on a possible reason

I think they just need to focus on the potential deal with a credible party and announce that when complete. That would probably get the sp moving

Are you talking about the 100% owned subsiduary for the JV license?

Why?

Yep. One just posts on BB like this one and it gets dealt with ;)

And so it all ends. So long, and thanks for all the fish

What sort of consolodation would people consider "fair".
I guess the board woukd need to swing 9% of the no voters, so would 100:1 do it? Still awful mind

But you seem to have bought in expecting a result quickly. This share is primarily about an asset sale in the short to medium term, so if you still think that is on the cards, then the recent performance is somewhat moot

You'd be better buying 4-5 more shares than backing Russia in the Euro's

So your investment timelines are very short term then? Possibly the wrong share for your needs

Is there a website anywhere where people have kept track of tbis saga? Not only would it make an interesting read, it would help the likes of myself know where we stand, without having to ask fellow bb members to repeat themselves

Its not that complicated though.
You will have Old Shares / 220 = New Shares
They have an intrinsic value of 20p each
You'll get New Shares / 2 warrants that allow you to buy shares at 30p.
Depending on your average for Old Shares, you'd need the share price to rise quite significantly to get the same value from your New Shares or for the warrants to be worth taking up.
IF we open at 20p, most will need 5x to 10x that price to break even pre RTO

Well that's a dissapointing conclusion to this sorry affair

I love the "I've heard a rumour, but I'm not saying what it is" posts. Always make me chuckle.
I've heard we will find out tomorrow, just which tomorrow wasn't clear