Directex Real Share Discussion Threads

[fairdeal2008] 31/12/2010 11:35

Just like to thank the sellers dripping a bit of stock in helping the poor old MMs with liquidity ;-).

IMHO we will be seeing double figures on good old dxr very soon. A pure silver fund in the UK for a couple of million quid, very well funded and with an aggressive management team with imho identified investments...

[dosser2] 31/12/2010 11:35

Took 20 mins for my buy order to go through on TDW

[fairdeal2008] 31/12/2010 11:32

oh and its 5 v 1 on l2

[fairdeal2008] 31/12/2010 11:32

Market cap is just £2.75mn at 5.5p mid.... it has some way to go imho

[dosser2] 31/12/2010 11:30

Just tipped as possible resource stock of year - lots of buyers here soon!!Tips.com

To silver with Directex Realisations (DXR) which on 7th January will have an EGM to change its focus from being a failing media play to a silver investment company. Its Chief Investment Officer ( a la Athol Gold) will be me and its name will become Woodbourne Square Ag. The share price is now 4.75p valuing it at £2.38 million. Assuming that it flogs one small non -core media asset soon it should have c£1.6 million net cash or 3.2p per share. That will almost all be invested in silver stocks mainly in Canada and Australia. Now given that I expect silver to go from $30 to $50 over the next 18 months and given that we have a pretty good record of stock picking so should outperform I would expect the NAV to be well North of 4.75p by Christmas and for the shares to trade at a premium to NAV when folks realise what is going on. There is one other potential bonus here. The company may or may not be due a tax rebate in France in 4 years of up to 5p per share. We are investigating this closely and we reckon the odds are against it but it is just possible that there is a windfall gain to be enjoyed here as a bonus. Treat that as a bonus. As a silver play if you can grab any Directex at sub 5.25p I reckon that you should - Athol often trades at a 50% premium to NAV and so - in due course - will Directex I reckon. And it would not take much to get NAV hurtling past 4p per share given the outlook for silver.

[marab] 31/12/2010 11:12

telbap, getting closer to your target price. Lots of sells at 5p.

[quraishim] 31/12/2010 09:35

cap is low.....sp will go a lot higher on news

[marab] 31/12/2010 08:43

Fairdeal2008, I agree with you about the pre-emption rights because it adds to much expense in any fund raising that is near the current share price. It won't prevent heavily discounted fund raising either which I hope won't happen here as it will lower the NAV, and in turn TW's investment. I have more concern with a BOD who could issue themselves options and cheap shares. It would seem going forward that most of the work will be done by TW who will get paid only a percentage of what extra value he creates for DXR, and the major expense will be certain directors who seem incapable of even supplying us with a proxy form to vote.

knowsleyman, I can see your point, but as I have said before, the key to TW's success will be his ability to raise cash quick for opportunities that arise. I personally would prefer him to be controlling that aspect rather than a board of directors. Hopefully by the time any further fund raising is needed the NAV will be higher anyway. The time taken to ask share holders if they want to buy some more shares, send in a cheque etc. is going to be well beyond TW's normal time scale for raising cash.

No matter how we vote, hopefully 2011 will be a good year here, and I for one look forward to some action in the second week of January.

[fairdeal2008] 31/12/2010 07:46

Pre-emption rights are in many respects a poison chalice - because they restrict the ability of an effective board to act quickly and flexibly raising cash when they need too. Here there is a substantial ampount of cash and saleable assets worth around 4p per share by my estimation so plenty in the pot already.

This is a stunning opportunity imho. At the moment on 50million shares in issue, much of that tightly held and now access to significant opportunities in the silver arena and what appears to be the perfect time givenm recent leaps in the silver price and silver stocks.

So moan all you want if you want - I am getting very excited. imho please dyor but at the moment it seems you can buy into this opportunity for next to nothing!!

[marab] 31/12/2010 07:37

knowsleyman, mine sent off too. Hopefully some of the rest of you have sent a proxy too. Anyone local enough to be going to the EGM?

[knowsleyman] 31/12/2010 07:05

Marab

Proy forms completed and sent express this morning. Guaranteed to be there on time.

I would urge everyone to vote against 4. Just think about what you are giving up.

[devil20] 30/12/2010 14:51

Trouble is telbap when it reaches 6.5p again it may carry on up!

[telbap] 30/12/2010 14:39

missed the 6.75 last time - wont be caught twice - put in my sell orders for 6.5p - good luck all those in for the long term.

[marab] 30/12/2010 13:07

knowsleyman, It might be to late for you to use the Proxy form as they have to be on the 5th. I think it's pretty scandalous that the form wasn't freely available earlier, and I can see no reason why it wasn't part of the circular. Which is why I am not a highly paid director of a shell company.

[marab] 30/12/2010 13:03

Notes:
1.
As a member of the Company, you are entitled to appoint a proxy to exercise all or any of your rights to attend, speak and vote at the Meeting and you should have received a proxy form with this notice of
meeting. You can only appoint a proxy using the procedures set out in these notes and the notes to the proxy form.
2.
A proxy does not need to be a member of the Company but must attend the Meeting to represent you. Details of how to appoint the Chairman of the Meeting or another person as your proxy using the
proxy form are set out in the notes to the proxy form. If you wish your proxy to speak on your behalf at the Meeting you will need to appoint your own choice of proxy (not the Chairman) and give your
instructions directly to them.
3.
You may appoint more than one proxy provided each proxy is appointed to exercise rights attached to different shares. You may not appoint more than one proxy to exercise rights attached to any one share.
To appoint more than one proxy, you should photocopy the Form of Proxy enclosed with this notice and complete in respect of each proxy you would like to appoint, specifying in each case which Ordinary
Shares such proxy is appointed in respect of.
4.
If you do not give your proxy an indication of how to vote on any resolution, your proxy will vote or abstain from voting at his or her discretion. Your proxy will vote (or abstain from voting) as he or she
thinks fit in relation to any other matter which is put before the Meeting.
Appointment of proxy using hard copy proxy form
5.
The notes to the proxy form explain how to direct your proxy how to vote on each resolution or withhold their vote.
To appoint a proxy using the proxy form, the form must be:
G
completed and signed;
G
sent or delivered to the Registrars at Capita Registrars at PXS, 34 Beckenham Road, Beckenham BR3 4TU; and
G
received by the Company no later than 11.00 a.m. on 5 January 2011.
In the case of a member which is a company, the proxy form must be executed under its common seal or signed on its behalf by an officer of the company or an attorney for the company.
Any power of attorney or any other authority under which the proxy form is signed (or a duly certified copy of such power or authority) must be included with the proxy form.
Changing proxy instructions
6.
To change your proxy instructions simply submit a new proxy appointment using the methods set out above. Note that the cut-off time for receipt of proxy appointments (see above) also apply in relation to
amended instructions; any amended proxy appointment received after the relevant cut-off time will be disregarded.
Where you have appointed a proxy using the hard-copy proxy form and would like to change the instructions using another hard-copy proxy form, please contact the registrars of the Company at Capita
Registrars at PXS, 34 Beckenham Road, Beckenham BR3 4TU or call on 0871 665 0300 from the UK. (Calls cost 10p per minute plus network extras. Lines are open from 8.30 a.m. to 5.30 p.m.) If calling
from overseas please call [phone] standard charges for overseas calls will apply.
If you submit more than one valid proxy appointment, the appointment received last before the latest time for the receipt of proxies will take precedence.
Termination of proxy appointments
7.
In order to revoke a proxy instruction you will need to inform the Company by sending a signed hard copy notice clearly stating your intention to revoke your proxy appointment to Capita Registrars, PXS,
34 Beckenham Road, Beckenham, Kent BR3 4TU. In the case of a member which is a company, the revocation notice must be executed under its common seal or signed on its behalf by an officer of the
company or an attorney for the company. Any power of attorney or any other authority under which the revocation notice is signed (or a duly certified copy of such power or authority) must be included
with the revocation notice. The revocation notice must be received by the Company no later than 11.00 a.m. on 5 January 2011.
If you attempt to revoke your proxy appointment but the revocation is received after the time specified then, subject to the paragraph directly below, your proxy appointment will remain valid.
Appointment of a proxy does not preclude you from attending the Meeting and voting in person. If you have appointed a proxy and attend the Meeting in person, your proxy appointment will automatically
be terminated.
Communication
8.
Except as provided above, members who have general queries about the Meeting should contact the registrars of the Company in writing, Capita Registrars, PXS, 34 Beckenham Road, Beckenham
Kent BR3 4TU (no other methods of communication will be accepted).
You may not use any electronic address provided either:
G
in this notice of general meeting; or
G
any related documents (including the proxy form),
to communicate with the Company for any purposes other than those expressly stated.
Crest
9.
To appoint one or more proxies or to give an instruction to a proxy (whether previously appointed or otherwise) via the CREST system, CREST messages must be received by the issuer's agent (ID number
RA10) not later than 48 hours before the time appointed for holding the meeting. For this purpose, the time of receipt will be taken to be the time (as determined by the timestamp generated by the CREST
system) from which the issuer's agent is able to retrieve the message. The Company may treat as invalid a proxy appointment sent by CREST in the circumstances set out in Regulation 35(5)(a) of the
Uncertificated Securities Regulations 2001.

[marab] 30/12/2010 13:02

DIRECTEX REALISATIONS PLC
Company number: 05173250
(the ''Company'')
Form of Proxy
Please insert the member(s) full name(s) and address(es) in BLOCK LETTERS
I/We ...................................................................................... of...................................................................................................
........................................................................................................................................................................................................
being a member/members of Directex Realisations plc hereby appoint the Chairman of the Meeting*, or failing him
.......................................................................... as my/our proxy to vote for me/us on my/our behalf at the General Meeting of
the Company to be held at the Company's registered office, 3rd Floor, 3 London Wall Buildings, London EC2M 5SY on
7 January 2011 at 11.00 a.m. and at any adjournment thereof.
*If you wish to appoint your own proxy delete the words "the Chairman of the Meeting" and insert in BLOCK LETTERS the
name of your proxy in the space provided.
Please indicate with an X in the space below how you wish your votes to be cast. If you do not specify how you wish your votes
to be cast then you will be deemed to have authorised your proxy to vote or abstain from voting as he/she thinks fit.
Signature ..............................................................................................................Date ................................................................
Ordinary Resolutions
For
Against
Abstain
1.
To receive and consider the Company's accounts for the financial
year ended 29 December 2009 together with the directors' report
and auditors' report on such accounts.
2.
To approve the Investing Policy of the Company (more fully
described in Part 2 of the circular of the Company dated
15 December 2010 of which this notice forms part) for adoption.
3.
To approve the granting of the authority to the directors of the
Company pursuant to section 551 of the Act to exercise all the
powers of the Company to allot, grant options over, offer or
otherwise deal with or dispose of any equity securities up to a
maximum aggregate nominal amount of £30,000.
Special Resolutions
4.
To approve the dis-application of pre-emption rights
5.
To approve the change of name of the Company.

[marab] 30/12/2010 13:02

PROXY FORM FOR JANUARY EGM - This is basically a print out of the one I was sent.
3 posts,
1st is this one with delivery/posting details.
2nd one is the actual PROXY form, just copy and paste into WORD or similar and print out.
3rd one is the notes for the PROXY.

To appoint a proxy using the proxy form, the form must be:

completed and signed;

sent or delivered to the Registrars at Capita Registrars at PXS, 34 Beckenham Road, Beckenham BR3 4TU; and

received by the Company no later than 11.00 a.m. on 5 January 2011.

[knowsleyman] 30/12/2010 12:43

Marab

Thanks for the e-mail address. I have requested one also.

[marab] 30/12/2010 11:41

rafboy, Not just better volume but a better price direction - up.

phil1969, I agree with you. I was about to buy more at 3.5p and they just took off.

I hope to be able to put a proxy form on here this afternoon for the January EGM.

[phil1969] 30/12/2010 11:26

Just treated myself to 250,000

Was watching these at 3.5p and disappointed not to have bought them then.

Looking forward to news in Jan of first silver investments/licences.

Excellent management team on board with a wealth of experience and friends in all the right places.

At just £2m market cap, this is a no-brainer and if they spend our cash wisely we could be looking at £10m within 6 months.

[rafboy] 30/12/2010 11:23

Better volume today. Regards.

[marab] 30/12/2010 10:58

If you want a PROXY form then drop an email to Sandy at the following address and she will arrange to have one sent to you. [e-mail]

I have no idea why the directors of the company seem to be making proxy forms so hard to get.

[marab] 30/12/2010 10:26

drago - There is every chance that a lot of investors will pull out around the time of the EGM. Others like you and myself will be looking at this as a longer term investment in silver. I am looking for situations like this one to avoid the CGT that builds up when you hop from stock to stock. My hope is that TW will build up significant value here over the longer term. If TW can pick a few like AGQ then 2011 could be a good year.

[drago] 30/12/2010 10:07

if peeps are buying for the egm, surely they will just bail out after it.

presumably tw makes his buys then we wait for the hoped for capital appreciation to be translated into an higher share price. but that could take quite some time.

i'm holding for the long haul as i have no silver exposure having missed agq when a frient told me about it at 12p, doh!