Member Info for unhooked

Perhaps this is a profitable, successful company and he's decided that he doesn't need any funding from public markets and would rather avoid the cost, hassle and necessary transparency of public listing.
Let's not over-complicate. Sometimes the simple and obvious is correct.
In which case it's probably him and his mates buying up all the cheap shares getting sold over the past couple of days, as PI's run away from the hassle and uncertainty of owning a delisted company, only tradable off-piste.

Why do most private investors go for the AIM?
The stock market attracts all sorts - gamblers as well as investors - and the gamblers inevitably orientate towards the 'sportier' end of AIM. Indeed, although I consider myself a fairly sensible chap, I'd be a hypocrite if I pretended that I didn't have a bit of both inside of me. To underline the point, who remembers the months following the vaccine introduction and ramp up of QE (Nov 2020 - Sept 2021). In my ISA, I was making good money and very quickly on every damn share - many on AIM - it was like shooting fish in a barrel. No records to keep, no tax to pay, banking 50% - 100% profits in double-quick time, I remember saying to a much more experienced friend "is this actually legal?" It was intoxicating. Of course, I know better now!
The other thing - at least for me - was that a couple of years ago when everything rising it was easy to buy into the prevailing narrative (now probably disproved) that the AIM was increasing in quality and also that small caps outperformed large caps over the long term.
The last 15 months has been an eye-opening journey. By no means am I wiped out - I'm very diversified - but I've had a few investment howlers and seen lots of other dreadful stuff. I've seen insider dealing, creative accountancy, misleading communications, fraud (dare I say corporate espionage!), and any number of savage unexplained daily drops.
Btw, those poor iEnergiser holders have seen the value of their shares fall another 50% this morning. Last Thursday that was a company of £200m market cap and doing v well - growing revenues, profits, cash generation and dividends - today shareholders are essentially wiped out.

Ditto with me last week - HL only allowed me to buy max £1000 despite share price dropping... which is probably a good thing as it continues to fall.

*say

Yup. Crazy sh*t.
I had high hopes for Essensys and I could easily buy back in but I need to understand what's going on first.
Did I day? Hate AIM!

I've not entirely escaped porstwigger. Just returned to my laptop to find that another AIM stock - and this one I do hold - has just dropped 23% completely out of the blue and for no apparent reason (yet). I've immediately sold out, crystalising a 5% profit on what was a 30% profit an hour ago. Absolutely crazy. Ridiculous! I just can't take the risk.
I had high hopes for Essensys plc... No idea what's going on.
You are so right about the platitudes on AIM... and those are good & sensible rules. The way I'm feeling today, I might have myself another rule: avoid AIM altogether.

Well, I've joined the herd and sold out.
Just can't take the risk.
Hate AIM!

Make that -19%.
Can't see any news.
Very illiquid share.

Thanks portswigger, appreciate your reply. I should say, I'm not invested there, but I noticed the big drop this morning and went to investigate. For me it's a case study as I learn some 'home truths' about AIM.
"It's the AIM... hope for the best and prepare for the worst." I love that!
I'm busy looking through my other AIM stocks to see if 'insiders' own the vast majority of shares (> the magical 75%, as in iEnergiser's case). Hithertoo, I'd thought a large founder holding was a good thing.

Those poor blighters who own iEnergiser shares are now down 80% this morning.
I have massive sympathy for them.
A few moths ago there was talk of DX delisting when we were suspended...
To what extent is there a read-across to other AIM stocks?
I am shocked.
Thanks again.

This post is off-message re DX., but you lot are a knowledgeable and helpful bunch so I'm going to put it out there.
Today the board of iEnergiser Limited announced to the market a proposal to cancel all shares & delist from AIM. As far as I can tell, they gave no prior notice that this would happen. If the proposal goes through (requires 75% vote), minority shareholders will be left with few rights and shares that are hard to trade other than through some "matched bargain facility".
This is an AIM stock. I own plenty of other AIM stocks, perhaps you gents have too, which is why I'm posting.
Imagine waking up to find the value of your holding instantly worth two thirds less, which is what's happened to minority shareholders of iEnergiser this morning.
Is this legal? Can they do this without buying out or compensating minority holders at something like market values? I've heard of other AIM stocks delisting and I can see there may be valid reasons why (costs and future funding are often cited as reasons), but is this what normally happens? (private investors left high and dry).
This is an eye-opening case for me.
Any thoughts gratefully received.

Kwota, I absolutely get it that there can be good and valid reasons why a company may delist and go private. What I can't get my head around is that they can do this without buying out minority shareholders at something close to market rates.

Thank you Kwota. It seems insiders control > 75% of the shares, so the proposal will go through. Seems they will offer some sort of "matched bargain facility" once the shares are off-grid, as it were. The point is the shares are, overnight and without notice, worth massively less.
So shocked.
I should also say I'm not a shareholder either, but I have a great deal of my money invested in AIM stocks and so this is important and material news for anyone (like me) who'd have bet the house that a proposal such as this would be illegal.
To anyone who is a private shareholder here - and hopefully there are not many of you - you have my heartfelt sympathies. I know people come on these boards on a bad day saying things like that, but i really mean it. I'm incredulous.

I am trying to understand today's news.
Were shareholders given prior notice of this?
Will there be a facility whereby shareholders can sell their shares for an amount based on prior market value?
Surely management cannot simply announce this out of the blue, leaving shareholders with holdings instantly worth 70% less?
What am I missing here? If anyone can be bothered to reply on what seems to be a dreadful day, I'd be grateful.

"I ask myself if the dividend and projected dividend/buy back is worth it and the wait or can I (be) tempted elsewhere.?"
That's exactly my thinking Sister. And I think I'm right in saying that the buyback hasn't started and there's no guarantee it will. I also worry those wafer thin margins could get eroded/competed away, although they've done well so far, all things considered.
Timing is everything (or a lot) and the price paid does colour one's view. I never got in anywhere near 9p I'm afraid. I bought in at 32p and topped up at 21p, none sold. I have considered banking the profit on that top-up, but have resisted so far.

Fair enough.
In terms of performance, I'd hoped this stock would be counter-cyclical but it hasn't quite worked out that way.
Still, I feel somewhat reassured by these comments. Let's see what the next 6-12 months brings - this is yet another "show me" share .

"Let's not forget this was a £6 share pre covid..." That's my point Theborn!
I can see you're a glass half full man. And why not?
If the share price does even a fraction of what you say in your last para, I'll be a happy chappie. I've become cynical. We shall see.

Fair enough, I hadn't realised they'd flagged this.
My point still stands that MANO have consistently disappointed on performance and profitability and a PBT of just £1.6m in H2 FY23 when macro tailwinds are strong, is less than impressive imo.
Perhaps you're more easily satisfied, Theborn, or perhaps you bought in more recently, but I've held this share for a long time and it's gotten me nowhere despite all the promises.

Thanks Frogjumper, yes he did say that.
Yes it's a tough market and in that context I'd also prefer to be floating in the doldrums than sinking in a storm, but all the same I'd rather be sailing the high seas into the deep blue yonder...
We shouldn't be so accepting that effectively no news is good news. I think we should be more ambitious of DX.
I don't know.... they say investing is the transfer of wealth from the impatient to the patient, but I've held this share for a long time with nothing to show for it.

Mano issues a "Further Trading Update" to last week's Trading Update. Why would they do that? Bizarre.
It tells us they can barely eke a profit, even now.
What was the point? So disappointed with this share.