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Real-Time news about Bartercard (London Stock Exchange): 0 recent articles
|wiganer: Also, amidst all the market turmoil the share price is steady as a rock. :-)|
Thought you'd be over stoking the NSB loco.....
We may be mad, but we do still have shares in BRTR. If you had shares less than 1000 (consolodation was 1000 to 1) then you got a cheque for the number of shares x 4.5p courtesy of Wayne Sharpe..
If however you held more than 1000 shares you received a new BRTR share for every 1000 held (and 'lost' those that were not multiples of 1000). So for example holding 51,129 shares you'd hav got 51 new shares, 112999 shares you'd have got 112 new shares....
Also, it wasnt actually an MBO, just a share cosolidation and a delisting from AIM. The result is that we do still own BRTR shares, but they are not listed - so we are entitled to any dividend paid, just not able to (with ease) sell or buy.
hope this helps,
|davidlloyd: Of course there will be more money to come, 2 cents, if you are a shareholder that is, each time a dividend is declared....and not only that but the intrinsic value of the shares rises (even if they are not easily tradeable). Say, for example, you could still trade these shares and at 4.5p - then a dividend of 1.7-1.8p a share was declared, what would that have done to the share price?? Just a thought.
|yump: Actually I find it sickening to hear all the 'great news' when its a near on certainly that I will not benefit from it as a shareholder to any meaningful extent.
Lets be clear.
The share price rot, the boardroom 'trouble' and the extra costs that appeared (NOT the listing and associated costs) had already appeared BEFORE the Nomad resigned.
So having a go at the Nomad (on our behalf) doesn't wash.|
|aporterman: Well Yump ... I am not writing anything off ... far from it in fact ... I think BRTR is going to prosper brilliantly ... and I can now say that without fear of ramping as it is not currently listed .
Here is message from Wayne Sharpe to shareholders that I requested by email:
BARTERCARD'S NEW FUTURE
Dear shareholders, members and staff worldwide
By now you will be aware that Bartercard Plc has been de-listed from the London Stock Exchange (LSE). This was an automatic process which was effectively forced upon us as a result of the dramatic resignation of our Nomad, against whom we have issued proceedings for breach of contract and damages.
The actions they took caused damage to the company's reputation which led to us being unable to get a new Nomad in the 30 days required. The damage to shareholders' value is obvious. A class action to recover that value is in the process of being developed against those who have caused you damage.
I can say that Bartercard has been in business for almost 16 years, and was only listed for 18 months, so it is a ridiculous proposition that we will cease to operate or go bust by not being public. This unfounded speculation has been propagated by some people, particularly competitors. We can categorically state that the company is solvent and will continue to operate for many years to come. It is business as usual for the company. Shareholders now hold shares in an unlisted public company. The same board controls the same management who direct the same staff to service the same clients. Record trading results for both Australia and the UK have been achieved in recent months.
Life goes on and gets better for those loyal shareholders who have stuck by us and believe in our business.
The huge expense of becoming public unfortunately never really achieved the objectives set in particular raising capital. So really other than a small amount of new capital of which I was personally the largest single contributor - the company got more cost than benefit as a public company on Aim. Importantly the indirect cost of the huge amount of time by Executive Directors and management for no positive result was frustrating and ultimately unproductive. However the intention had been to continue the public listing and get better results by raising capital via the sale and lease back of our building, then we expected to see an improvement in share price and liquidity based on the positive financial results we would report, and ultimately build a larger shareholder base.
Unfortunately for Bartercard and its shareholders our former Nomad chose to resign and cause the suspension and ultimately the delisting of our shares at a time when our most positive announcements in our history took place, So shareholders never got the benefit of that in terms of their share value, nor the ultimate flow toward the capital raise we had worked so hard and long to do.
But we could not prevent their folly despite my repeated attempts to stop their breach of contract and complaints to the London Stock Exchange.
All we can do now is redress their action in the Commercial Court and recover damages. The Board has specifically endorsed this course of action and we will keep you informed of the action's progress.
We will look at whatever options we can to get liquidity for shareholders, and we are reviewing numerous alternatives currently. However in reality for now we need to focus on the future as a private company once again. We still intend to pay dividends to shareholders as and when we can.
And the future looks amazingly positive.
All our operational subsidiary licenses (Australia, UK and Dubai) are forecasting profits this year. BCI has record license sales in progress, and our plan to develop more into Europe can now be a stronger focus for me as I shall now be freed from the distractions of Plc issues.
Already in the last month we have developed strong communication with prospective licensees in Czech Republic and Sweden. And of course the agreement with South Africa looks set to be a real powerhouse.
The Australian operation is profitable and growing again. Based on current activities and trends it will be back to its record breaking best next year. The rollout of Eftpos is starting to take effect in terms of streamlining client transactions and reducing time costs for Bartercard and members. And the increased interest rates and drought are looking to push the economy into a cash constrained Barter friendly economic cycle for the next 2 or 3 years at least. This means the members who retained their accounts and have been actively trading will be the most likely not to have any negative effect when the crunch comes. So next year should be huge.
Bartercard UK is becoming the poster child of the group. Growth is now right up there with New Zealand and the team are fired up. Records in terms of trading are being smashed month on month and with a plan to develop more franchises inside the M25 in particular (and central London) it's quite possible we could double our offices in the UK next year, and at least double trade volume.
The UAE is also growing and re-establishing our previous great reputation as a high growth company in the fastest growing city in the world.
So with the traumatic events behind us, the sale and lease back of our building in Australia provides all the capital we need to achieve our goals and return to a highly profitable private company as we were. We are strong, and we have survived and grown in the face of adversity and this is now a thing of the past.
So to quote Mark Twain "the rumours of my death have been greatly exaggerated"
Bartercard is here to stay.
We have many years of trading ahead and many counties to advance into
In 1991, our founding year I said "The mountains we climb today are only foothills compared to the mountains we have yet to climb". Well today we got our climbing equipment back.
Wayne Sharpe; Executive Chairman|
|ngen yap: Sack of spuds, I have no inside knowledge but I, like DavidLloyd, cannot imagine Wayne Sharpe allowing this to happen. He went through a lot, personally and cost wise, to get Bartercard on the AIM - to simply let it slip out again because the nomad resigned is not thinkable.
Also, why bother with all the positive RNSs if this company is going out. Plus the appt of FD etc.
This company will report profits to September and year ending March 2006 - share price will reflect this.|
|aporterman: Yes it sells franchises - in 15 countries.
It looks like there is nothing to stop BRTR advancing now (appointing broker and nomad aside) ... ( I am talking about the business - not the share price ... I do not understand that )
Obviously there is a 'culture clash' between management and advisers etc. ... it will have to be sorted out.
... the trading has been exceptional ... international expansion is potentially huge ...
even though previous broker resigned - their conservative projections valued this at a multiple of last traded price ...
I believe that BRTR is poised to become a true global business ... but I stress that this is my opinion only ... and going against the grain, at that ...
Investing in BRTR would not be advised for people with any type of heart complaint.|
|aporterman: Well, the results were what I expected - it really was a bit of a disaster of a year - I think they picked the worst possible target to reverse into ... a wasted year and a load of cash too ... but at least I think they mentioned that they learned from it!
The business model seems to have transferred ok to the UK - so there should be no reason why it will not work elsewhere - Wayne S mentioned the significant interest from potential country licencees - plus the recent ones that have not yet even started trading ... I am hoping that it will evolve into a true Global Trading Company ... surely what those directors were plotting when they tried the MBO.
The share price was definitely being manipulated in my opinion and may continue to be for whatever reason!
I would like to see the appointment of new Broker - and a more detailed trading update for the 6 months since March.
New senior management in place - new website portal coming - a fresh start for BRTR - that's my plan anyway.|
Not connected with anyone.
Have been a long holder since the high teen prices. Am still a holder since if I tried to sell my holding, I'd be lucky for a mm to offer me 2p, which is about as good as nothing.
I am hugely angry since I have been in dialogue with Sharpe for some time and have consistently had the "it's all rosy in the garden, the market doesn't understand us" "keep the faith" spin. The key questions I posed this week to Sharpe, reposted above, he replied to in the same type of way without answering a single point. I have asked him for a meeting - he is being evasive.
I would like nothing more than for the share price to recover. However I smell a very stinky rat. We ALL need to know the answers to my questions - all of us as shareholders as do BRTR's customers so we know whether we are dealing with a well funded start up experiencing some minor growing pains or a house of cards run by a con artist who has spent the last year producing lots of positive spin RNS soundbites without any substance while bleeding the company's cash through related party consultancy fees.
Until we get clear answers to the questions posed, I will continue to be highly cynical. I struggle to understand why EVERY poster on here is not equally cynical.|
I normally don't go in for "all the balony", but BRTR share price moves have been odd for many months, and there have been regular wierd small trades, often just before/after price moves. It's awfully coincidental...
Not complaining mind, I've made a fair few quid on BRTR trades this year!|
Bartercard share price data is direct from the London Stock Exchange