|The new 2016 annual report has just appeared on the website - at a glance, looks like sales/revenues are higher than last year but profit is lower.|
|Likewise cheque just arrived only lost £3500 out of £20k so better than I expected 2 years ago..|
bangers and cash
|Received cheque this am, not a huge loss but still hurts...this company typifies how shareholders are treated, not like the owners of the company, but merely mugs to milk while the management go about making themselves wealthy. I have no doubt that after delisting from the UK market and now listing on the Korean stock exchange, that the management are looking to maximise their returns, happy to be out.....|
|I'm expecting 27k,a paltry sum given what I invested,ah well,at least I'll get something back,unlike others I could mention,was checking my account yesterday as I thought it would transfer immediately.|
|Hargreaves say the 4th...so I will be looking Friday week for the cash.|
|Content Media site .....states no later than 6th March.Therefore allowing for broker distribution 13th March at latest.|
|Barclays stated that they aim to update a/ccs within 5 working days of receiving the cash.|
|any body been paid yet?|
bangers and cash
|There was a share consolidation when they went private,I am a little hazy as to the detail,was it 1300 to one? My mind tends to blank out trauma!!|
|I remember selling these after visiting the AGM which I was not impressed with management.
Got around 1p a share for them.
So approx what are they worth now ?|
|trying to type on phone,please read 'cattles' and 'juridica' respectively.|
|I still have a lot of these(I used to have hundreds of thousands before they ran it aground),but there is still a four figure no.of shares in the portfolio.I refused to sell out last time as I felt the Co. was being taken from shareholders.I suspect once they've gotten rid of us,it'll become a cash cow for the owners.I have never come across such disregard for shareholders,save except the directors of Cattle (where I lost a very substantial amount.My own fault,I did not do proper risk analysis and made the other fatal mistake ;I fell in love with the stock.Never again(apart,perhaps,Juridical.Anyway,I may just give them what they want and nurse the tax losses.|
|Suspended shares....sometimes. I bought a few of these where they announced they were going to delist in 2012 as I thought the last valuation was bonkers compared to the film assets. Been a while and there has been a major consolidation. Even so, a real result...
"Content Media Corporation Ltd Shareholders as at close of business on the 18th February 2015 will receive £16.71 in place of each Share held".
Mind you, the company is doing fine without AIM it seems!|
|Interesting article here about the listings of western companies in Korea, which mentions Content Media - it was actually dated from September:
Content Media, M-Biz Global set for listing in Korea
By Yoon Ja-young
A growing number of foreign companies are preparing to list their shares on the Korean stock market.
The moves come as the Seoul bourse has advantages in abundant liquidity and good evaluation.
According to the Korea Exchange (KRX), the country's stock market operator, around 10 foreign companies are preparing for an initial public offering (IPO) on the Seoul bourse.
"Two Chinese companies are set to hand in applications for listing this year," said Kim Jong-il, a manager in charge of foreign companies at the KRX. He added that Heng Sheng Group, an animation company, and a pharmaceutical company specializing in cosmetics for atopic dermatitis, are ahead of others in the listing procedure.
Among the others preparing to get listed are Philippines BXT, a leisure company; Content Media, a U.K. content company; Tong Ren Tang, a Chinese pharmaceutical company; and M-Biz Global, a Swiss mobile software company. An Indonesian home-shopping company and an Australian female garment company are also looking at the Seoul bourse.
Currently, there are 15 foreign companies ― from China, the United States, Japan and Laos ― listed on Korean stock market. Four of them are on the main KOSPI while the other 11 are listed on the tech-heavy KOSDAQ.
Kim said it takes longer for foreign companies to get listed. "While one year would be enough for a local company, it takes longer for foreign companies as commercial and corporate laws differ from country to country. It takes time for them to change their corporate system to suit ours."
However, Seoul is very attractive for foreign companies seeking an IPO, according to Kim.
"Everybody knows the NASDAQ or NYSE, but they are focused on major global companies like Apple and Microsoft. Small companies with less than 1 trillion won in sales don't get the spotlight. These stocks won't enjoy much trade," he said.
"Korean investors, meanwhile, are as much interested in small and medium-sized companies as big ones. That is a huge attraction for those companies," he added, pointing out that small companies also get media coverage and analysis by securities companies here, which they are not likely to get had they been listed on the NASDAQ.
He cited biotech companies as examples. "In the case of biotech companies, they are the most highly evaluated on the KOSDAQ. The bio sector is known to have good valuation, but in fact it is much higher on the KOSDAQ. I can definitely say that the Seoul bourse is much more favorable for small- or medium-sized bio companies," he said.
Low listing costs are also a strength of the Korean bourse. Listed companies have to pay fees to the bourse operators, as well as shoulder legal and auditing fees, but the total cost can be as small as 5 percent of that in the United States, according to Kim.
For Korea, meanwhile, these foreign companies can create great economic value. He cited Access Bio, a U.S. company that manufactures medical diagnostic devices, as an example.
"The company grew a lot after its IPO in Korea. It is building a research and development center in Magok in western Seoul, and is scheduled to hire around 50 researchers," Kim said.
He added that as Koreans hold shares of these foreign companies, they will get dividends as well as capital gains when these companies grow.
The KRX is scheduled to hold road shows in New York and San Francisco in October to attract more foreign companies.|
|fft, Your holding is substantially more than my 400. Even so, I had this down as a sound long term investment. At present I don't miss the cash so I am tempted to just hold these for as long as it takes. If in 5 years time they get bought out or the share price has jumped significantly then I can look at selling. But why Korea? I still think it is a ploy to get rid of the very small shareholders (325 less than 100 shares). The share dilution comment worries me too. I haven't got long to decide......|
|Spig,I agree about this not being done nicely. Given the lack of korean input in the company, it does seem a curious thing to do. It will be more difficult and expensive for all shareholders (incl. Directors) and the company. All documents will need to be translated from english to korean or vica versa. Agm in korea !I wonder/suspect whether a korean input is being lined up ? Either korean investor or big korean contract but the document only mentions smallish deals. Smoke and mirrors ?Obviously more to this than meets the eye, but we probably wont know what it is, and whether it is good or bad, until it is too late.|
|Looking at the forms again, it appears to me that i can : 1. Apply to get 1 new share for each of my old ones. This would then appear in my uk nominee account - it is still a uk company at this point.2. When the korean listing takes place, presumably the new uk shares will be cancelled.3. my nominee holder will tell me he cant hold the korean ones. At this point i will hold the newly issued korean shares in certificated form.4. At the point when i want to sell them, i will contact a korean broker and set up an account with him purely for this business. I dont see that i need to do that before i want to sell. Obviously i wont be able to time this very well.For me this looks ok. I probably hold more than most (more than 2500) and korea is less than 5 hours away from where i am so worth it to sort out any paperwork issues.If i have missed anything let me know. I will try to speak to a korean broker next week to try to get a feel for the time to open an acct and any problems.|
|FFT, the difficulties in trading these shares with regards your comments shows me that the management don't want any small shareholders. The fact that an individual is prepared to pay £16.71 for every share sold by small shareholders tells me that this company is short changing us big time. This company is going places especially with its Chinese presence. As I won't be able to trade these on the Korean stock exchange, I have no choice but to sell. But I do feel that after following this stock for nearly 10 ten years, they really have screwed the small stakeholders over on this one. Why they couldn't just offer small stakeholders a cash settlement of £16.71 I don't know. That would have reduced the 325 small shareholders of less than 100 shares each dramatically.|
|I still hold 32 shares in this stock after the consolidation, great to see there are still other holders out there!!!!I did enquire about the match bargaining service a couple of years ago and was told to first speak to my nominee broker. Glad I still hold it seems I have shares to the value of £500 that I had discounted to £0 historically. Still live in hope of the company fulfilling its potential!|
|Amazed they chose korea. Very difficult place to trade. Must use korean broker and be cleared first before can trade. Dont see any private investors from outside korea getting involved. Dont see koreans getting involved as non of cfl/cmcp buziness will be in korea or even in korean language ! It will be as under the radar as it is possible to get ! Will ask why they didnt use HK or SING as much easier and investor friendly. I would like to carry on holding shares....|
|The document states that it is unlikely that any listing will be below the £16.71 price and may be more. Then, it states that the purpose is to raise capital of which some stakeholders will not be chosen to participate thus leading to a dilution. I have been into Content Media for about 9 years. Once I was sitting on a good profit but as we all know, that went seriously wrong. £16.71 was the price for some to buy into the company a year ago. I think it is a bit tight to offer the same now. £20 a share and I could have been happy (ish). Could you trade your shares on the Korean markets without losing out to withholding tax etc? I don't know.|
|I am sure they are positioning this company for their own gains, why a delist from the UK market only to relist on a Korean one? I stayed with them hoping for a buyout, this will do, two years ago these were valued at about £8.50, so not bad really.|
|so how do we feel about £16.71 a share on the table, or maybe there are more returns by staying in??|
bangers and cash
|Dunno how long they have been out but the accts year end march 2014 are now on the website. Fairly subdued. Subsids seem to be ok. Obviously looking for biggish things from 7 stars and Aito which were both bought during the period.Quite a few shares issued at 16.71 gbpAnyone know what the matched bargain prices have been this year ?|