Base Group Share Discussion Threads

[westernedge] 21/6/2007 14:52

500 to 1 consolidation with the consolidated shares ranking equal to the placement shares, expected market cap after placing app 13mil with 52 mil shares in issue so basically if you have 100k shares you will have 200 shares with a market value of 25p each so £50.00.... better than nowt i suppose

there is also a deferred consideration of 7mil shares

looks like the new business could be good one though...

[westernedge] 21/6/2007 14:43

EGM 12th July

[westernedge] 21/6/2007 14:42

Admission effective and dealing starts 16th July

[westernedge] 21/6/2007 14:39

received docs today so its official...
orf to have a read up..

[godolphin] 21/6/2007 11:31

Odd it certainly is. Though they were due for suspension in December anyway.


May be worth a call. If they say "what? no idea what you're on about" or "we can't comment" then that would give us an inkling. I'm not doing it, lol, I'm far too soft on the phone!

[audereestfacere] 21/6/2007 10:57

This whole business is decidely odd. The reason BS. gave for the suspension in Nov '06 was that it wasn't able to produce interims to 31st Aug '06 within AIM's time regulations, because it was currently involved in RTO negotiations.

How can the interims of a non-trading company due for the period ending 31st Aug, possibly have any bearing on negotiations in November? I thought, at the time, that the suspension was a device to stop trading in the shares before firm rumours of a RTO surfaced.

[godolphin] 21/6/2007 10:28

This is all airy fairy stuff until we get letters from the company explaining exactly what they are planning - if anything.
They need 21 days notice for a EGM - not sure how BLR are getting away with less unless they don't have any special resolution.
The pseudo rns specifies a date for the placing. Any EGM would need to be a few days earlier. There is no mention of "an EGM to achieve dilution via cancelling/splits and then issue 40m shares at 25p". Maybe, that date is the proposed EGM date and the story is wrong. But I assumed that is meant they already had shareholder approval for the placing, historically. Hence my comment that they wouldn't have time for an earlier EGM to dilute the existing shareholders.
I think we just have to wait and see and watch our letter boxes.

[audereestfacere] 21/6/2007 10:02

Regarding there not being enough time for an EGM. On 8th June, BLR announced a reorganization and a placing which necessitated an EGM. On 19th June, it announced the meeting would take place on 3rd July. If BLR can arrange it quickly, so can BS.

[flc] 20/6/2007 17:35

TO350 - for some reason I thought you were in reclamation?

[to350] 20/6/2007 17:22

thanks m8.

[digital sport] 20/6/2007 13:10

T0350- lol - i thought you would say a big fat zero. Good luck with estate agents in morrocco.

[to350] 20/6/2007 13:00

Hi ds, the answer is a big zero mate, if these do come back and start making some money i will have to look carefully but as it stands now not one penny goes in that direction. Although I must admit it could be tempting if Base made us the right offer. At the moment though I am starting an Estate Agents in Morocco so when it´s ready I will post my website on here so you can all take a look.

[digital sport] 20/6/2007 12:52

not offering existing shareholders any at dicounted rate probably means we are going to get shafted

[digital sport] 20/6/2007 12:47

where did u buy it curry

ok

[currypasty] 20/6/2007 12:43

i can assure you i have a contract note for base group, having paid 25p


from broker at seymour pierce

[uknighted] 20/6/2007 12:32

Are we sure that this isn't some sort of hoax? Regards UK

[digital sport] 20/6/2007 12:26

special offer only til friday @ BUY ONE GET ONE FREE

[digital sport] 20/6/2007 12:24

t0350- how many would you like ?

[digital sport] 20/6/2007 12:18

I wonder if bradders will ask us existing shareholders if we want to buy some of the new ones.?

[godolphin] 20/6/2007 12:07

I suppose they could divide our 1p shares into 10 with 9 non voting (valueless) and 1 voting. Effectively only giving us 1 for 250. I would think they would need shareholder approval - but with nothing else on offer we'd have to go for it.

[audereestfacere] 20/6/2007 11:31

74m shares trading at 25p would give a Mkt Cap of 18.5m. Is this is a very clever deal for everyone or will existing PIs be left out in the cold?

[godolphin] 20/6/2007 11:10

lol. I'm just reading the pseudo rns. To have more dilution they would have to cancel eg. 9 out of 10. To do that would obviously mean an EGM. Given that there are no very large shareholders how would that get approved? If this is happening in mid July then they don't have time to organise an EGM anyway.
So, on the surface they end up with 34m ordinary plus 40m placing so the new holders would still have over 50% and I would guess a new placing later with the IPO.

Anyway - I remain a bit skeptical as I've only ever seen one RTO that worked in this way in 30 years. There I made a 15 fold increase on relisting and had to keep asking my broker "are you sure there isn't more dilution?".

[audereestfacere] 20/6/2007 10:54

So you're saying that 1m old shares will become 40,000 new shares and be worth 10,000 pounds?

[godolphin] 20/6/2007 08:58

The deal isn't official. It would have been nice if it had been announceed before the cancellation, now I guess we have to wait for a new IPO.
Assuming shareholder approval, the new shares, I guess, will be 25p ordinary so we'll get 1 for 25. They can't be higher than 25p but could be lower if they don't have enough shareholder support.