Zyzygy Share Discussion Threads

[wenlynn] 17/4/2011 19:24

My broker has made it crystal clear :-

"Your holding of Zyzygy plc has now been converted at a rate of 1 new ordinary share of 0.1p for 10 existing shares, the resultant shares will be adjusted on your account shortly.
As this stock is not CREST eligible we will be unable to hold this stock on your behalf and you will therefore receive a share certificate in your own name in due course.
If however you hold the security in your SIPP account then we are not permitted to transfer this into your own name and will therefore hold this residually (outside of CREST) on your behalf."

[wenlynn] 17/4/2011 19:19

I'm going to contact the directors in the morning.

[alby220] 17/4/2011 19:16

I think i will invest a little bit more, it is in our interests for this to do well. Otherwise we have worthless bits of paper,and success is my option here imo.

[wenlynn] 17/4/2011 17:52

Ordinary Shares in issue for Existing Shareholders 112,915,866 (value £282,290)
Ordinary Shares in issue for Creditors 77,526,599 (value £193,816)
Open Offer Shares (assuming full subscription) 1,129,158,658 (value £2,822,900)

This is looking better !

[wenlynn] 17/4/2011 17:28

Zyzygy owed over £700,000.
It owed ex director, D Lipscombe, £290,000.
It owed currect director, P Hire, over £85,000.

This has been reduced to £193,816 and it has been converted to Ordinary Shares.

[wenlynn] 17/4/2011 14:26

I agree with what others are saying.
I would like to know what their intentions are !
What are they going to invest in ?

[wenlynn] 17/4/2011 12:48

"The CVA provides for Creditors to receive Ordinary Shares in settlement of their claims and therefore provides the Company with a more stable platform to develop a viable future."

[asmodeus] 17/4/2011 12:39

I agree, Alby

[wenlynn] 17/4/2011 11:45

Search "bwa group" and look at :-

[alby220] 17/4/2011 11:27

They really need to publish more info re their intentions and make it sooner than later imo.

[asmodeus] 17/4/2011 11:00

Although probably true, Wenlynn, we must not forget that it is also a chance for the rest of us to re-establish a value for our existing stakes, and we must not deter new investors from getting in at the start of what might well turn out to be a successful and lucrative project....

[wenlynn] 17/4/2011 09:56

I've concluded that the Open Offer is a scheme for Directors to be paid their back salaries.
(admittedly because of the CVA they will only be getting a fraction of the amount)

Butterfield and Battersby aren't legendary names in the City and so I won't be taking up the offer.

[alby220] 17/4/2011 09:35

Reduced shares for me too on barclays account, and second letter. I really need more info as well, if they want more investment.

[wenlynn] 14/4/2011 07:46

Website has been updated with new information.

[brad44] 13/4/2011 16:24

im sure we could suggest some companies for them to buy in to for them to actually be sucessful with our money!!

[stupid idiot] 13/4/2011 15:53

Well got my second letter and a share new share certificate for my new reduced holding.Can not understand it they must want more cash if they left the offer open for another month but no extra info very strange in my view as without extra info I will not invest more.

[asmodeus] 13/4/2011 14:35

Same with me, actually, Tilton.

[tiltonboy] 13/4/2011 12:21

asmo,

Got enough as it is. If an attractive deal comes along I might add then.

[asmodeus] 13/4/2011 12:04

Yes, Tilton, I received a second letter, dated 8th April, confirming new closing date 28th April. Will you be buying??

[tiltonboy] 13/4/2011 10:55

Has anyone received a second letter from the company?

Seems like they are leaving the offer open for a little while longer as they believe some investors were unaware that they could subscribe for extra shares.

Tried to eke a little information on future plans, but didn't hear anything that we don't particularly know already. Once they have raised sufficient funds they will seek a Plus Markets quote, and will then look for a "major" transaction. I'm sure they have got a few ideas, but nothing forthcoming at the moment. If they could pull another "Weatherley" off, then there might be a chance of getting my money back.

[haff1] 11/4/2011 15:59

..there has been no adjustment made to my portfolio here...but I guess that may happen in due course. Does any one know if the portfolio here recognises PLus market stocks?

[wenlynn] 11/4/2011 15:15

1:10 Consolidation taken place.

[haff1] 06/4/2011 08:07

..agree...