Sovereign Share Discussion Threads

[varrirob] 26/6/2018 12:26

Hi wendymann, please see link below, hopefully it works for you. I have had one contributor so the thread works which is a relief.

[wendymann] 26/6/2018 11:24

hi Varrirob,
Please could you give me a link, I have failed to find it.

[varrirob] 26/6/2018 10:03

I have created a thread for those interested. If I have made a pigs ear of it though I am happy for someone more experienced to re-do another one. GLTA.

[varrirob] 26/6/2018 09:57

Now listed as BARK on NEX, hopefully not going to turn out to be a dog after all this lol. I will look to see if anyone has set up a thread, if not I will give it a go, not done it before.

[al101uk] 26/6/2018 09:24

Tyler,

I believe Alex Snow is the person your looking for.

Varrirob of course is right, for holders, it's better to be listed on any market than not be around at all.

[tyler durden1] 25/6/2018 08:03

Sad but A101 has it.

Unless this is just to get a listing before changing the business AGAIN, who in their right mind would invest in catering at this stage of an economy when high streets are suffering and restaurants and fast food feeling the effects of less high street footfall and where the established names are able to do what they want to keep their cut of a smaller cake.

ABSOLUTELY NUTS. The seller must be rejoicing at having disposed of assets whilst those around are having to go to CVA's and bankruptcy, with landlords getting shafted in the process.

Is the seller connected in any way to GC? Honest question, not for one minute suggesting impropriety, but in my view to go from minerals/resources to mineral waters and food is not what most investors signed up for.

[varrirob] 22/6/2018 22:10

I'd rather have a chance at recouping my losses than just loose it.

[al101uk] 22/6/2018 16:32

Sub-scale business, overpaid for the assets and listed on an exchange with little to no liquidity. Nothing left to see here in my view.

[varrirob] 08/6/2018 10:23

Link from the LSE thread. Looks like things are starting to gain momentum.

hxxp://www.sovmines.com/wp-content/uploads/2018/06/SMA-The-Barkby-Group-plc-Acquisition-and-Admission-to-NEX-June-2018.pdf

[sabre6] 30/4/2018 15:07

not now there isn`t

[georgia103] 29/4/2018 14:33

One day of April left !!!!!

[al101uk] 17/4/2018 10:40

"The Company is targeting completion of the acquisition and readmission to AIM to
take place in April 2018."

Re-listed this month?

[squiresquire] 07/3/2018 13:18

I just had an ordinary share certificate sent through to me, i use brokers in nomine accounts so i guess this is a regulated transfer as the company has delisted, anyone agree?

[georgia103] 06/3/2018 11:34

Anyone know when we might get re listed ???

[al101uk] 01/2/2018 16:37

Big7,

£2.50 was a brain fart, I meant the £2.25 that was paid for the C shares notified on the 15th May.

I don't really make anything of it, just a casual observer, I think they had a deal in mind that didn't come off and they've been scrambling ever since. The restaurant business looks like a last ditch attempt to retain the listing, the business will still be sub-scale for a listing on AIM, but that's hardly anything new.

I think that they will relist and still effectively be a listing looking for a business. I'm more interested in how management deal with this purchase. Will there be a transfer of wealth from the shell to the loss making hotel business's current owners? I can't see how the company could possibly be worth any more than it's net assets and should probably be snapped up at a discount to that.

For current holders, it's all good news as the alternative was complete loss, I think GC's strengths are in UK consumer focused business's so the purchase plays in to that strength.

As I said before £2 million isn't obscenely expensive for a shell, so downside may be somewhat limited.

In no way a good situation, but he's taken on a sub-scale loss making business before (Mercury Recycling which he spoke of as a viable business until it was surplus to requirements) with a view to transforming it (Ironveld) although the circumstances were different and the eventual end result may be just as disapointing as here.

[big7ime] 31/1/2018 21:06

What do you make of it aI101uk?
Where do you get the 2.50 from?
Some of the shares 4p each, others £1, some more at £2.16? Its not clear.

[al101uk] 29/1/2018 13:34

Sorry Big7, I'll try again...



Check out the filings, they are abbreviated accounts, but enough to make some assumptions on.

Also interesting the hiring and firing of directors.

[costax1654x] 25/1/2018 21:11

I think after FFI with Massive directors buys this one is one to watch as well!

[big7ime] 25/1/2018 17:56

aI101uk could you enlarge on your post 3035. The link is denied. Where do you get that info from?

[al101uk] 25/1/2018 10:36

Reputation in tatters in my view (IRON, KENV and here. Even AMER isn't exactly reflecting its potential).

No position here, just tracking GC's latest and greatest business ideas.

The good news, I guess, is that I think UK consumer plays in to one of GC's strengths and a market cap of £2 million isn't hugely demanding, even for a shell.

[tommygriff] 24/1/2018 18:50

Back in April!

[westmoreland lad] 24/1/2018 17:23

Hi Al

Just got the official notice from ii today.

SOVEREIGN MINES OF AFRICA - Delisting - New Corporate Action Notice Available

Only got 6k to loose here. Time for GC to hang his hat up and call it a day.

[al101uk] 17/1/2018 12:46

It means the company will de-list from AIM while if completes the process of the reverse takeover. Then it will re-list at a later date and you will be the proud partial owner of a restaurant business called "Sovereign Mines Of Africa"... name I expect, will be changed.

I don't know what, if any,are the de-listing costs, but I know there will be costs to re-list the company on AIM.

Looks like the restaurant business will come in at about £500-£750K based on the £2.50 that Alex Snow paid for the C shares a year ago and the 4p he paid for the B Shares. Entirely depends on what value they put on the A shares, of which there are 383,000 with a nominal £1 value.

In my view the business is sub-scale for an AIM listing, but I guess it's better than nothing for holders.

There's only £81k of tangible assets in the business and it was loss making at the last accounts, debatable that it's worth what will be paid (Alex Snow is an insider, I doubt he'd pay £2.50 for shares he knew would be worth less a few months later and I doubt his appointment was entirely co-incidental).