Base Group Share Discussion Threads

[currypasty] 22/6/2007 13:24

I would have said 'stitched' is a bit wide of the mark... as i see it they closed at .6, so 500:1 gives 30p... the placing was at 25p... a pretty normal discount for any AIM share. The thing is they may well open higher, my guess would be the 30p, so effectively you are back where you started, at suspension last year. Surely that is a reasonable result, afterall, many in their situation would have just shut the doors, and investors lost everything ?

Ive no idea what the Co. was like, but looking at the shareprice chart, the macp, results, etc etc, it wasnt up to much was it ?


You could make out an argument that new investors like me are the ones stitched up, we thought a great new IPO, then find we have a load of baggage !!!

[flc] 22/6/2007 13:08

VQ - in otherwords we've been stitched?

[very quick] 22/6/2007 09:19

No application is being made for the deferred shares to be listed on the official list or admitted to trading on any stock market or securities exchange. these shares have extremely limited rights and benefits attached to them rendering them in effect, economically worthless. It is the company's intention, at the appropriate time, to cancel the deferred shares. These shares will therefore not be updated on to your account.

Unless you hold your shares in a sharebuilder account, no fractions of shares will be issued to shareholders, instead, they will be aggregated and sold for the benefit of the company.
Should you retain your holding in BASE GROUP, we will update you regarding the proposals when we receive further information from the company.

end...

[very quick] 22/6/2007 09:14

CONSOLIDATION HERE: Every 500 ordinary shares of GBP0.01 will be consolidated into 1 consolidated share of GBP5.00
Then each consolidated share of GBP5.00 will be subdivided and reclassified into 1 new ordinary share of GBP 0.01 and 499 deferred shares of GBP0.01
The company is also seeking approval to change the company name to SHIELDTECH LTD.

The board of Base Group has announced that, pursuant to the terms of the Acquisition Agreement, subject to the satisfaction of a number of conditions, the company will acquire the entire issued share capital of SHIELDTECH LTD for the consideration of upto GBP19.5 million. The SHIELDTECH GROUP designs, manufactures and supplies body armour systems to provide the wearer prtection against firearms and stab threats.

It is the company's intention to admit the enlarged share capital to trading on the AIM. Subject to approval, dealings are expected to commence on AIM on the 16th JULY 2007

[digital sport] 22/6/2007 08:38

Anyone like to have a guess what this will open and close on first day of trading.

[clarendon] 21/6/2007 19:55

Told you that something was on its way!

[g.j.a] 21/6/2007 19:13

Got my papers today - 1 share for 500! I had already written this one off - so its not over yet!

[godolphin] 21/6/2007 18:51

Bloody minded - 250-1 would have made little difference to them 3.4m shares out of 43.4m instead of 1.7m out of 41.7m.

Shareholders have to approve it - we could all say we'll reject it unless it's 250-1.

[audereestfacere] 21/6/2007 16:12

Yes, but they're based in S.A. and SA means ......!

[flc] 21/6/2007 16:10

Bloody hope so.

[audereestfacere] 21/6/2007 16:03

FLC - Still watching and waiting for DMR to emerge from underground. Will DMR's business be better than sports management?

[flc] 21/6/2007 15:54

Aud - I only hold 4m of the old stock so will be glad to recover £2k albeit will probably now sit tight to see what develops. Anything's better than sports management and after looking at the credentials of the new company can see some light at the end of the tunnel. Are you keeping watch on DMR?

[humphbumph] 21/6/2007 15:50

Good work, westernedge. None of us old-timers on this board was up to it.

Many thanks

[audereestfacere] 21/6/2007 15:46

Hello,FLC - What's your new average and will you be averaging down?

[flc] 21/6/2007 15:44

Westernedge - look at Asfare (ASF) another Bradshaw baby. This has performed well. Lets hope this turns out the same.

[audereestfacere] 21/6/2007 15:41

CURRYPASTY - I'm holding on, as my average now becomes 2 pounds 40p.

[westernedge] 21/6/2007 15:34

they also talk of looking for further aquisitions internationally in the same product area....

[currypasty] 21/6/2007 15:29

I was thinking about the reverse, rather than a clean IPO.. I supose at 850 mil shares and 500:1, gives a cash cost £ of about 425k. I would guess that a clean IPO listing on AIM clould cost that, as rules and regs, and red tape have proliferated.
It also gives the share some liquidity to already have a wide shareholder base, as no doubt the bulk of the new shares went to institutions.
Finally there is the posibility of utitising some historic tax losses.

IMHO, i can see this opening at 30p, but where from there depends on how many of the existing trapped holders want out

[audereestfacere] 21/6/2007 15:23

I was working from the bid at 0.05p. No wonder Bradshaw and his mob used every trick in their extensive book to keep this quiet and prevent any trading on rumours. If this had got out the share price would have gone to 1p and that wouldn't have suited the suits at all.

[westernedge] 21/6/2007 15:15

mid price on cancellation was 0.06p so pretty close

[currypasty] 21/6/2007 15:13

another thing my broker said was it was well oversubscribed, so the story must be good...

[westernedge] 21/6/2007 15:13

says "in accordance with AIM rules " "trading on AIM of the ordinary shares was cancelled on 25th May 07, following there suspension 6 months beforehand...." " intend to seek admission as part of the proposals"

so presumably they are reapplying for their listing?? dunno.. if i make any more sense of it ill post it..

[audereestfacere] 21/6/2007 15:09

So our new shares initially will be worth the same as the old shares were in the hours before suspension.