Member Info for Toffers

Sheltie agreed on the erratic nature of this. I've just sold out again as it can quickly drop back to 2.90 again, and again, and again! Last time it reached 3.30 before dropping back to 2.90 ish.

As I've been with HL for years. Thankfully, not involved in the Woodford scandal, but fail to see how a takeover is likely when you read this, as there are still a huge number of investors missing from the claims action?

"The RGL Woodford Group Litigation against Hargreaves Lansdown so far comprises some 7,000 claimants with more being added every day. RGL has informed us that the average claimant had approximately £20,000 invested and that the average claim value (including the opportunity loss) is also in the region of £20,000.

133,000 Hargreaves clients had £1billion+ invested in Woodford Equity Income Fund (WEIF) at the point of suspension on 19th June 2019, so the potential value of the group claim is substantially larger than the current £140 million and could reach £1billion+.

The average Hargreaves customer in 2019 had c.£75,000 invested on the Hargreaves platform, suggesting that some 10% of affected clients’ portfolios may have been invested in WEIF.

The main concern is how to inform and mobilise the remaining 126,000 potential claimants. The action has been widely covered in the media, but take-up remains low despite the no-win-no-fee nature of the action.

The sums involved are significant, and the missing 126,000 Hargreaves Lansdown Woodford investors could miss out on recoveries averaging up to £7,000, assuming the case is won."

source: sharesoc.org last December.

It looks as though claims could exceed 1bn and then there will be interest added on by the courts no doubt, so why would someone take this on with that level of debt which remains unquantifiable presently?

I'm trying to hold most of my funds in shares, as hopefully clients shares cannot be taken as they belong to the person who purchased them, but I'd keep cash very low in any HL account for now imo.

Crober, perhaps they are buying some shares already? we can live in hope. Are you buying shares Trustpilot aka Anne McSherry?

Still trying to fathom out why the charity shares weren't handed over conditionally on the basis that they are gradually fed in to the market if sold so as to not wreck the share price? If they are selling down, I wonder how many are left for them to dispose of? Let's hope they either stop, or are nearly out!

PubCrawl, I'm an investor, I'm here to make money, that is all I'm interested in, and considered opinions from fellow investors help to reinforce the investment decisions.

Thanks Crypt, if the ML is granted, I likewise would hope the sp would at least double, but as CrustyPete points out, it is very much dependent on the information that is fed to us as to funding etc. GLA.

Thanks CrustyPete, grateful for the considered perspective, without any back biting, appreciate it.

PubCrawl, I asked because someone else had mentioned it. I'm still holding 3.5 million shares, so perfectly entitled to ask of others views, I'm not spamming the forum with absolute rubbish, I'm asking a perfectly plausible question, do people think it could be hit, or not?

I just looked in because it was spammed on another forum by the 'Tina'. They've only tested on 325 patients, that's nothing, 32,000 and I might have taken note. They've a long way to go. GL

Crypt, is that 7p? what's everyones view on reaching an sp of 7p if we get the ML?

So sick of the markets at the moment, they can keep dropping share prices but most of us will just sit tight and the brokers will make no money on trades so get your act together and start making a market properly for once the lot of you. HL dropped this back to 3.00 a few hours ago, absolutely ridiculous but that is HL all over. Still, rather have my money in shares right now than in the bank!

Might actually help if they put their own AI on their flipping website for investors/shareholders to ask questions using hints/singled out words. Take Note Cykel.

Hi crober, assumedly it's somewhere embedded in this?

https://business.trustpilot.com/blog/learn-from-customers/deepen-your-customer-experience-with-ai-powered-tools

Hi Tonto, hope you're right, they need to come out with it quickly. I've contacted First Sentinel and will see if they answer my queries.

3% on my dodgy maths is 12,960,000, and he well exceeded that for a transfer to himself as per above "Transfer To Jonathan Bixby - - 32,000,000" so where is the TR1? Totally confused!

The point is, by doing that, if they are selling down, he has not done us shareholders any favours, so why do it at this early stage in the game? is he really aligned with shareholders? I hope he pulls a blinder and sells this company at a fantastic price, because he has no doubt done us some harm with the share price if the charity are selling down and eventually out.

Https://s3.eu-west-2.amazonaws.com/document-api-images-live.ch.gov.uk/docs/

17.2. in the articles does not give power to transfer to a charity, it gives power to "any person" but not to a charity and in effect they have done so by transferring the shares to Bixby who has then used them to transfer to a charity in his homeland which is out of the jurisdiction.

I'm so confused. Thoughts anyone? Why is there no TR1, and why weren't shareholders consulted?

"All shares that are transferable can be donated to your charity, but only publicly quoted shares qualify for tax relief for the donor. Publicly quoted shares include shares listed on the London Stock Exchange or Alternative Investment Market shares (AIM)" ciof.org

Where did the board obtain the approval to allow him to do this? is it in the articles of association? shouldn't shareholders have been consulted? the transfer was made out of the jurisdiction, so why was it not reported with a TR1?

Why are the shares held by Toro Consulting Ltd? I'm totally confused!

"Cykel (LSE:CYK) announces that, upon board approval, Jonathan Bixby, Chief Executive Officer of the Company, has gifted a charitable donation of 32,000,000 Ordinary Shares of £0.01 in the Company ("Ordinary Shares") held via Toro Consulting Ltd to a Canadian registered charity (Charitable Impact Foundation).

The donation is part of Mr. Bixby long standing commitment to philanthropy. Mr. Bixby does not control the Charitable Impact Foundation. Following this gift, Mr. Bixby now holds 31,550,000 Ordinary Shares of Cykel held via Toro Consulting Ltd representing approximately 7.54% of the issued share capital."

He held 63,500,000 on 21 August 2024, but only held 32,000,000 on 3 October 2024, so what happened because he had two transfers of equal amounts? It is 3% for notification but surely there should be a TR1 to make it clear, as without the TR1, surely he's not giving himself any tax advantages in making the donation?

On 20 August 2024 it is stated below in director dealings that Jonathan Bixby had transferred to him 32,000,000 shares making the total holding of 63,550,000.

The rns on 21 August last year stated;

"Cykel AI PLC - London-based company that uses artificial intelligence to help clients streamline workflows, reduce time spent on repetitive tasks, and improve efficiency - Chief Executive Officer Jonathan Bixby gives 32.0 million shares, a third of his total holding, to charity. Bixby gifts the shares to Charitable Impact Foundation, a Vancouver, Canada-based organisation that helps donors manage their charitable funds and direct gifts to charities of their choice. Bixby's gift is worth GBP2.5 million at the current market price of Cykel AI. He continues to hold 63.6 million shares, a 15.2% stake."

But then on 1 October 2024 there is another transfer to Bixby of 32,000,000 leaving his holding at 31,550,000, so if he did make the transfer, where is the proof? I'm confused.