Baobab Resources Share Discussion Threads

[6kenny] 27/2/2015 21:32

this sort of thing happened to a friend of mine years ago. He held onto his shares and years later had some old post redirected to him.

one was a letter saying his 5000 shares (£5k) were now worth £70k...he bought be drinks all day!!

not all turn out to be horror stories but I accept that most do.

[jotoha2] 27/2/2015 21:10

6 kenny , the present Directors are happy to move into the new company as they have no option , it's that or broke,, am sure some sort of deal will be constructed for them so they will get a slice of the new company , anyone hanging onto their shares will not be offered the same deal , it's known as corruption and creative accounting , sell up if you are a holder.

[cashstrapped] 27/2/2015 21:04

I think I still own shares in medicsight that was delisted. Ive never been able to find anything out about them though and the broker was useless - they just said that as they were no longer listed they didn't have any thing to do with it anymore.I think that the first thing you should have on a stock screen is no AIM. No regulations and scammers, liars etc. The only other thing you can do is make sure that any other projects the board become involved in is highlighted as another scam. Not that that will stop the greedy investing sometimes.All is not lost though - Max says that there will now be a bidding war and we'll be bidded up to £1.50 - 2............So stop being a dimebar.

[mooo2] 27/2/2015 20:55

Jedad. Was just about to post the same.I still hold EEL shares but they are still worthless after what, 5 years??All I can say is if you decide to tread that path be prepared never to see your money again.

[jedad] 27/2/2015 19:46

This seems to have a slight pong of eel...that was a right mess...I think will cut my losses next week

[6kenny] 27/2/2015 18:50

everyone knows that once the $12 million is raised and BFS is completed Redbird/BAO will list on "a" market somewhere I would have thought?

If shares in delisted companies are worthless then why are BJ and JD keeping their shares and not selling out at 6p?

[jotoha2] 27/2/2015 18:26

Shares in delisted companies are worthless , you will have to find a buyer who is prepared to take them , and at what price , very dodgy!

[kbrook] 27/2/2015 17:48

If the company delists and the project is sold, which it will be, how do those people who hang on get their rewards on the sale?

[pete_bain] 27/2/2015 17:36

I see it that way too Kenny. So does kev

[2phildove] 27/2/2015 17:15

How are the ISAs looking?? Been shafted there as well havent we??? Otherwise, good on BJ and JD to do this before the end of the financial year to crystalise losses!!!

[2phildove] 27/2/2015 17:15

How are the ISAs looking?? Been shafted there as well havent we??? Otherwise, good on BJ and JD to do this before the end of the financial year to crystalise losses!!!

[6kenny] 27/2/2015 17:03

targa,

If redbird and the bod are not selling shares and transferring them to the delisted newco then why should we?

I just spoke to the redbird advisers and the guy said my reading of it was correct.


Redbird simply do not want to continue to support BAO as long as they are listed.

apart from the need to raise $12million, what else has changed, has the project washed away?

[kbrook] 27/2/2015 16:49

Having read the full RNS I'm not selling at the moment, feel your pain Kenny as mine is just as bad.

[targatarga] 27/2/2015 16:48

Do you trust management? If they've been lying to you for the past three years why believe them now?

[pete_bain] 27/2/2015 16:44

That's what I just said Kenny.

[6kenny] 27/2/2015 16:31

"Following the completion of the proposed De-Listing, the Company intends that an equity financing of at least US$12 million will proceed as soon as practicable and it is anticipated to be conducted at a discount to the recent trading price, and as far as practicable on a pre-emptive basis without triggering a requirement to file a prospectus or making the offer available in jurisdictions where regulatory or filing requirements would be unduly onerous. Redbird intends to fully support such equity financing."



so, if you don't sell your shares for 6p, the newco will raise $12mill with Redbirds full support and crack on with Tete?


If JD and BJ ain't selling out at 6p then why should we?

[kbrook] 27/2/2015 16:28

Paragraph 7 needs to be read before selling.

[kbrook] 27/2/2015 16:26

it's actually paragraph 7

[kbrook] 27/2/2015 16:25

I can't copy and paste for some reason, someone copy and paste paragraph 6 about BJ and JD not accepting the offer for their shares.... Confused

[mortimer7] 27/2/2015 16:24

All the sellers are sure making it easier for Redbird. Looking at the volume of transactions they've probably picked up a couple of percent of the shares today.

[6kenny] 27/2/2015 16:19

I kept pressing then about the IFC as well and then they recently reduced from 15% to 12.5%!!

I find it unlikely that this all happened post AGM!

They barefaced lied to all of those at the AGM.

So BJ and JD are not selling shares coz when the newco is formed (once little irritant pi's are screwed over) they stand to make millions when the Chinese step in to finance them.


Utterly despicable behaviour ...

poor max still thinks this is all part of the plan as we romp to £1.50...

[wooster4] 27/2/2015 16:17

kbrook - market would not be offering 5.47 if there was not a willing buyer.