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Like many of you on here, I am down and just reading through a very unenticing 'Open Offer'. In short, I'm not throwing good money after bad. Management need to get themselves sorted out and communicate better if they want more investment. Regret investing here.
It's your decision for now .. unless PJ gets sufficient holdings to compulsorily buy all the shares. If you don't need the cash and you have the patience it could be worth sitting on it for longer to see if it lifts, especially since you bought at 7p, though I can't see it recovering to anything like those levels in the near future, even if it stays public. 2000 shares at 0.6p is barely going to cover your transaction costs of selling!
Am out of here, decided to cut my losses and see if I can recoup on one of my other shares. Good luck to all who have been in this share for the long-haul. It's been a disappointment for so long; I hope you turn the corner soon.
Buller - some good points made. One thing you didn't take account of is that Mr Van Vlissingen is a shrewd investor, who knows this is a good business and got into HRG when it was low-priced. He doesn't need to make a bid, he could just let this play out.. and all the time he's watching his investment increase in value. It's not buy or get out - he can play with time, pick up dividends and watch his capital growth - in a competitor! You could even say he's 'hedging'!
Simon, no this isn't important. It''s a share option scheme based on performance. Since the Directors did not achieve the performance then they are not entitled to the shares - in other words their entitlement has lapsed. Not significant - the performance was announced just over a week ago, this is just part of the admin follow-up from that. Had the Directors been able to exercise their options, and done so, then it would have resulted in an increase in their stake - hence the RNS.
This has been so quiet for so long one wonders what is really going on. The immediate resignation of a NED during a period of share suspension also stinks. Directors have fiduciary duties - but they are being very neglectful of us - the shareholders - and that is totally crass, because if and when this ever does come out of suspension, (and unless they pull some fantastic rabbit out of a hat!), we will all be off to our broker to sell as fast as we can! Either way, they'll become virtually worthless.
Well that just adds to the intrigue. A Non-Exec Director (NED) resigning with immediate effect is not good news. I'm not scaremongering, but it is indicative of someone not being happy with something. All very vague I know - but so have the Enstone management been for so long now.
One could speculate endlessly about this. Please choose from the following 5 options: 1. Management don't give a stuff about the shareholders 2. There is something to hide 3. Someone's cleared off with the best bits 4. Someone forgot to remind the Directors that they have suspended the shares 5. All of the above
I've got some other letters here you can have... think they're MFI, apparently they're worth something on a scrabble board. Want to swap them for your WLW?!! LOL
They may have a cunning plan (I'll avoid the temptation to follow that with 'Baldrick') but their investor communications are dire. Personally I don't assume anything. Smart management would be able to communicate without divulging a cunning plan, rather than playing the silenc game. Even if there is a relisting in a few weeks, unless they do something to inspire confidence many shareholders will be jumping out of this one as soon as they can!
As shareholders I believe that if we have a minimum holding we can require the Directors to call an EGM. Can't remember what the holding is... but if there are enough of us we can club together and demand some action here. The management are, after all, technically accountable to the owners!