Member Info for Stuartrm

Re the annoncement on 4 May 2023. It reads as follows:

"Hard copies of the Scheme Document and Forms of Proxy for the Court Meeting and General Meeting

are being posted to Xpediator Shareholders and, for information only, to holders of options or awards

under the Xpediator Share Plans."

Has anyone heard or received anything yet? I have not got anything via Smart Investor. My intention is to reject the offer and I wish to make sure that I do not miss the chance to vote.

Thanks

A more shameful company? Try Kape

What a shame that this was posted on the wrong board. Holders of Kromek shares could certainly do with some pain management at the moment!

Surely the only reason for the share price to increase that is worth having in the long term is good management and company performance. A short term IC/ST blip may be ok for short term holders but I was hoping to have a good, sound, longterm investment here. Unfortunately there has been precious little sign of that, to put it mildly, here so far.

I think most of us share your frustration, TerryM1. This takeover, with the likely Squuzeout provision enactment, is little more than legalised theft. I am losing about 30% on my holding.

Investors Chronicle gives the following data in the 21 April edition. EPS NTM 514p. The same figure one month ago is 380p and 3 months ago it was a mere 8.6p. With the estimated earnings per share over the next twelve months being about 2.4 times the current share price, and the estimated figure increasing so rapidly over the last three months without having much of an effect on the share price, I am wondering if the data is correct. Has anyone else seen these figures quoted elsewhere?

Noted, JPDT- Note, however, the pressure in the offer for us to accept quickly. Why the hurry? Any decision can wait until the acceptance deadline. That is what it is there for. No one other than Mr Sagi will gain from an early decision. Also, who benefits from any acceptance? Mr Sagi, clearly. He expects to profit from the takeover. There is no need for anyone other than Mr Sagi to panic over any delays in people accepting his poor offer. Unity is strength with this one. If we sit on our hands he will deservedly fail.

True, IWantThatOne (although I thought the threshold was 75%), but the first offer elicited very few acceptances and if this one gets the same result Sagi will fall short. The whole tone of the offer is one of threats and bullying to encourage people to panic and accept the offer. If we keep cool, the offer will expire and Sagi will fail in his opportunistic bid.

The view of the independent directors, as posted this morning, is that the marginally increased offer that was made this morning still undervalues the company. I agree and do not intend to accept it.

You do not have to accept either. I am not accepting and am retaining my shares, as per advice in the IC. Unless enough people accept the offer to give Unikmind 75% (they currently have around 53%) of the shares, they cannot take Kape private without a vote in their favour. Failure to reach the 75% level would give them the choice to increase the offer or abort the takeover attempt, at least for now. At the current acceptance rate, which is minuscule, Unikmind’s offer will fail.

The two RNSs today are clearly encouraging but the shares may drift back until RNSs start to say that Kromek is profitable, rather than just cash neutral. I bought in at about 15p so I suspect I will have to wait quite a while before I break even.

53.8% are currently in favour of the offer, if I read the document correctly. I do not see that the rest of us need to accept the offer based on that, as we would still be a very sizeable minority.

"Kape shareholders who have not yet accepted the offer are urged to do so as soon as possible," Unikmind said in its statement on Tuesday.

Yeah, right! They must think we are daft.

The results are heading in the right direction but unless costs are reduced significantly, on a simple straight line extrapolation (not likely to be right, I appreciate, but it will do as a crude guide) it looks as if sales will need to increase 25 fold for the company to approach break even. Will Renx get close to this before the cash runs out? I have my doubts.

There is a site called hotcopper.com.au, which may be of assistance. It seems to be similar to LSE, but for the Australian market. MTR comes up on that site.

Jab1tt, the link works for me. In simple terms the document says the independent directors advise against accepting the offer, and they will not do so with respect to their own holdings, which amount to just over 6% of the total. They do, however, caution against shareholders being stuck with shares that cannot be traded if the proposed delisting occurs, owing to difference between Manx and English law. In short, as it requires a 75% majority for the takeover to go through, and Unikmind currently have somewhere in the region of 54% of the total number of shares, the onus is on the rest of us to block the takeover. For my part, I have declined to accept the offer and I could only look on, open mouthed with incredulity, at anyone who decided to accept it.

Kentio. Google translate comes up with "Should bend a little Heaven I can not, I will move Acheron.", which does not make a lot of sense to me. Perhaps we need either a Doctor or a Latin scholar to help us mere mortals to get the point.

Hopefully, iWantThatOne, the non-executive directors were waiting for the results to be published. Once that had happened, they could use them to say that the offer is derisory. Up until that time, they could only use historical figures.

Almost everything I hold is down between 2% and 4% today, with some by significantly more. It is difficult, if not near impossible, to determine which of the falls and how much of each of the falls is company specific and, how much is a result of fears over banking collapse contagion, war (sorry, special military operation) and the many other woes that keep appearing over the horizon.

Following on from yesterday, my transfer from Smart Investor to ii was completed today, within 24 hours of the transfer being agreed between the parties.

ii have sent me the following corporate action summary, which may be of interest to other holders

Effective date: 31st March 2023
Market affected: Alternative Investment Market (AIM)
Trading restrictions: The last day we will be supporting trading on AIM will be 30th March 2023.

Metal Tiger Plc has announced its intention to cancel the listing of its Ordinary shares from trading on AIM. This is expected to become effective on 31st March 2023.

Shareholders who currently hold their shares on AIM will automatically have their holdings switched to the Australian register where they will be held as CHESS Depository Interests (CDIs), with each CDI representing one share. According to the company?s documentation, the CDIs will be issued to us in statement form. Once received, we will arrange for these CDIs to be deposited with our international custodian. We are unable to provide a timetable indicating how long this process will take to complete since it is largely dependent on third parties. However, please be aware that you will not be able to trade the CDIs and you they will not show a live price on your portfolio until the process of depositing them with our international custodian is complete.

Metal Tiger plc will also change its name to Strata Investment Holdings plc shortly following the delisting from AIM.

ISA Customers
Due to HMRC restrictions on ISA accounts, Metal Tiger CDIs are not considered an ISA-qualifying investment. Therefore, on or after 1st May 2023 (30 calendar days following the delisting) we will arrange to move your shares to a linked Trading Account, opening one on your behalf if you do not already have one.

Junior ISA customers
CDIs are not considered a qualifying investment for these accounts and withdrawals are not permitted from these products. Consequently, holders may wish to liquidate any holdings prior to a delisting becoming effective.

Crest Personal Member Accounts
Unfortunately, the option to deposit the statements automatically with our custodian is unavailable for CPM accounts. You have the option to sell your shares before the delisting or retain the CDI statements.

Good luck to other holders. I just hope the transfer was worth the hassle. Time will tell.