Sunkar Share Discussion Threads

[the skipper] 28/7/2014 16:15

What I can't understand is that with 1.853 guaranteed why are lemmings selling for less??? I'm hanging on for the revised offer anyway.

[one day soon1] 28/7/2014 15:53

They wouldn`t buy such a small amount. Looking back at the trades over the last month or so obviously most of them sells, but not that many really. I can`t help thinking that we will be getting an RNS preety soon and it will either be that hey have achieved 90% therefore all shares will be compulsorily bought up at 1.853p or that they haven`t achieved 90% and the revised offer for the rest of the shares is.... 2.8p 4.8p??? I would of course prefer the latter scenario and the latter price!

[the skipper] 28/7/2014 15:17

It's the mug punters who are selling. Can't imagine any PI buying at this stage so it has to be a broker acting for SAPC imo. Let's see what the rest of the week holds.

[hereford29] 28/7/2014 15:15

I am sure it has all been covered otherwise the Directors would not have committed their shares in advance. Let's see if the project eventually goes ahead, it depends on the fertiliser price I suppose, as well as the large importing countries and their stability and economic plans. If India and China are giving a big economic push to kick-start new growth, then the demand will go up. India is really the one promising a growth push in the near future, since China appears to be scaling back on the investment model. And also the cartel for potash has an impact.

[augustusgloop] 28/7/2014 14:46

Just some mug punter buying £1k worth

SAPC wouldn't bother with such piddling amounts.

Apart from that trade - all other trades this month have been sells.

MMs picking them up slowly to pass on to SAPC.

[the skipper] 28/7/2014 14:05

It's still showing on my level 2 and on iii as a buy.

[hereford29] 28/7/2014 14:00

anyway, the trade has disappeared now. It says 71,000 at 1.78 and 1.78 day high and day low now, the same price as all the others. So I don't know why the 2.35 trade was posted earlier for 41,000 - it appeared on the Financial Times website, then it disappeared again.

[hereford29] 28/7/2014 13:53

could be Almas buying them through a mate in London.

[augustusgloop] 28/7/2014 13:32

No that was clearly a mugpunter PI

[one day soon1] 28/7/2014 13:23

If It is SAPC Then they have to pay everyone 2.345p!!!
Unless someone knows of another offer??

[the skipper] 28/7/2014 12:57

Looks like they are still trying to hoover up more shares paying 2.345 for 42k.

[hereford29] 28/7/2014 09:49

July 28, 2014 Former Yukos shareholders awarded $50bn damages against Russia
The ruling does not benefit the 55,000 former minority shareholders of Yukos, though it could set a precedent that would help them bring new arbitration cases against Russia.

[danandrews] 26/7/2014 18:14

Hereford my comments regarding improved offers were taken from the RECOMMENDED CASH OFFER RNS Number : 2751K

[hereford29] 26/7/2014 09:53

Maybe try the Herbert Smith contact who produced the pre-iPod report on ENRC claiming systematic fraud before it was even listed. The sfo is still investigating enrc, the fact was criticised for failing to take action and have proper safeguards for minority shareholders. The current case argues that enrc should not have been allowed to delist while such issues were investigated. This would appear to be the closest case of relevance. Enrich was taken private by its original owners at a fraction of the iPod price.

[hereford29] 26/7/2014 09:07

Lithium is indeed the "hot" commodity these days. The company is registered in England, which is a better sign than being registered in Bermuda, Delaware, etc. It states that only a little over 5pc of shares are not in public hands, although as it also shows over 60pc are held in nominee accounts which in practice means it may still be controlled by vested interests via third parties I think? If you got in at sub .05p, well done! If you did, I would sell out, it may well turn out to be not only rare earth, but a rare success, however, it peaked end 2010 / jan 2011, tanked, then climbed back up? Most small cap miners peaked q1 2011 and tanked. Past performance is no guarantee and all that, and perhaps this one will defy gravity, but a bird in the hand is worth a royal flush, make hay while the nuns dine and all that.

[one day soon1] 26/7/2014 07:11

danandrews re your message this seems in contradiction of the letter I received which states:
``If you elect to accept the offer, your shares will not be available for you to sell, or to accept any other offer unless this offer lapses.``

From Lloyds Bank

[hereford29] 25/7/2014 19:18

Oilbethere - Mr McDonald can only investigate breaches of the takeover rules. There do not appear to have been any. Allegations of fictitious sales and systematic fraud can only be investigated by the SFO under a criminal investigation - this can be requested by contacting them directly, they are obliged to respond, but there would need to be grounds for opening a criminal enquiry.

[danandrews] 25/7/2014 18:37

FYI - For those that have accepted;

In the event that SAPC or its nominees or brokers (acting as agents) purchase or make arrangements to purchase Shares for a higher price than the Offer Price, the Offer Price will be increased to match the higher price paid outside the Offer.

[oilbethere] 25/7/2014 18:35

Sent today

Dear Mr William McDonald

I understand that you are the contact regarding investor complaints regarding the proposed takeover of AIM listed Sunkar Resources.

I would like to add my name to the other private investors, who have asked for the takeover to be investigated.

The share price has been manipulated to a fraction of its IPO price. Responsible advisers have valued the resource as worth £2billion. Sun are attempting to get to a position to enforce a compulsory purchase valuing the company at aprox. £5million.

The directors have persistently promised sales and revenues over a number of years, which have consistently failed to appear.

Personally I have seen a paper loss of over 95% amounting to £60,000.

I, like many private investors, feel that the share price of Sunkar has been artificially managed to permit a low price takeover and delisting, following which if successful the true value of the asset would be realised for the new owners.

As an investor in this AIM share, I would be grateful if you could fully investigate this company and its activities before it is allowed to delist from AIM!

Yours sincerely,

[hereford29] 25/7/2014 16:29

that's what I said, some online nominee accounts default to ACCEPT once an offer goes unconditional, so it is important to actually vote reject if that's what you want. I was told the same by compushare. Other brokers leave the default as reject.

[mike1962] 25/7/2014 16:04

Well there you have it. My shares with SKR have been automatically removed from my account by Equiniti and paid out at 1.85p per share.

I also received a reply from the FCA [waste of time] advising me to take my complaint to Equiniti.

What a scam, absolutley disgusted with the whole transaction.

[danandrews] 25/7/2014 15:26

I will do some more digging, you cant initiate a take over with staggered accepted offers. The offer on the table when they reach 90% will be the offer for one and all.

Keep rejecting i say!

[one day soon1] 25/7/2014 14:44

dan re your question. I believe they will only get the price that they accepted the original offer ie 1.853p
This is why I am holding on because it wwont cost ssapc very much in real terms to pay the stubborn mules (us) a few pence more for our shares!

[hereford29] 25/7/2014 14:31

Article 45 of the Sunkar Plc M&A adopted by special resolution passed on May 14 2010 covers retention of transfers where related to fraud, if you are sure this has been the case, invoke it at the agm! Based on past agms, that should hold up proceedings for a bit as the usual confusion reigns after someone asks a question while the directors stare blankly at each other and wonder who is going to speak next :)