Lonmin Share Discussion Threads

[davidtil] 11/2/2022 11:49

Hard to beleive that Lonmin went down the tubes !

[saltaire111] 10/6/2019 16:26

I put in about six grand. In the grand scheme it’s not the end of the world but every penny counts.

Will check with ii what the plan is.

Salty

[deans] 04/6/2019 08:30

All gone would have held if Sib/Stillwater were quoted on LSE I do believe PGMs are currently undervalued so will try to find another equity/fund to be exposed to them - should have also held AAL! GLA.

[bouleversee] 03/6/2019 20:12

I should ask ii. iWeb told me that they wouldn't be able to trade in the Sibanye shares on my behalf and I should need to find a broker who did if I wanted to sell them or buy more . I got the impression that they would just keep them sitting in my account in the meantime so don't assume you will automatically be sent a certificate. Lonmin will be delisted on June 10 and last trading day June 7 so I sold today at 75.512p. With the number of shares I had left after the consolidation, even with the last rights issue I coughed up for (171), it wasn't worth the hassle of looking for another broker and unlikely that they would rise in value all that much, although I see they added 2p after I sold; no doubt they will shoot up now, knowing my luck. I bought in 2006 and my total costs with the various rights issues was £3688 so a loss of £3564, i.e. almost all my money!

You seem to be coming out of it relatively well. Presumably a lot more shares. When did you buy?

Selftrade told holders they would sell their holdings today, my daughter says.

I'd be interested to know what ii tells you re certificate.

[saltaire111] 03/6/2019 15:11

I hold LMI shares with ii. Current value is (gulp) down to just £900. Imagine how much these shares were worth when the share price was £40 a share back in 2007!!!

I received a message from ii saying that they’re not holding shares, due to the listing being in South Africa, and therefore I assume I will be receiving a share cert from them. Can anyone who knows more about this arrangement confirm if my understanding is correct?

Thanks.

Salty.

[bouleversee] 28/5/2019 18:15

The merger was approved, so that's that. Last time I'll cough up for a rights issue.

[bouleversee] 24/5/2019 16:05

As my £3587 investment (many years ago) is now only worth £100.89 at today's price, it doesn't seem worth the hassle. What are the new Sibanye shares likely to be worth and what are their prospects? Not to have them listed on the LSE seems like a deliberate plan to enable S Africans to pick up shares cheaply at our expense. Lonmin have sold us down the river.

[pgm trader] 23/5/2019 09:31

The only condition with AJ bell was the amount invested equal or higher to £10,000. I don’t think that’s unfair

[bouleversee] 22/5/2019 21:57

Depends what's involved in opening an account with them. However, as Interactive Investor is upping its charges and isn't all that good, I'll look into that.

[pgm trader] 22/5/2019 20:26

There are brokers that will accept shares to be transferred to an account with them. Why are people panic selling b4 the takeover ? One such broker is AJbell

[bouleversee] 20/5/2019 13:35

Have any of you voted or are intending to vote at the meeting. If so, for or against?

[bouleversee] 16/5/2019 23:31

I had an email from IWeb this evening drawing my attention to a corporate action notice which announced the 1 for 1 share offer subject to approval on 28 May at a Court Meeting and court sanctioning on l3 June. However, it also said that an application would be made to cancel the listing on the LSE main market on or after June 10 and last dealing day wd. be June 7. The bombshell was that the new Sibanye shares would deal only on the JSE and that IWeb would not be able to facilitate trading in the Sib. shares so I would have to find another broker which would not be easy. They omitted to say that I could, of course, sell in the meantime, which I expect is what a lot of people are doing.

It looks as though this notification was placed on the corporate actions page of my account on l4 May but I was not made aware of it till this evening, by which time the share price has come down quite a bit. My son heard from Selftrade on the l4th.

I suppose we have no alternative but to sell our Lonmin shares before the takeover is effected. What a lousy investment this ha s been. I have lost virtually all of my investment,quite a lot of money between me and my 2 children. I'll think twice about rights issues in future. How have other brokers handled the takeover and what are you planning to do?

[foxy22] 10/5/2019 11:43

South african court to rule on mergerNext week.Union objected to merger on basis of job cuts

[scoble2] 03/5/2019 11:55

85p offer and lots of selling why?

[dealy] 02/5/2019 08:44

I think the company can survive on its own. Company is trading on 3 times earnings

[redbaron10] 25/4/2019 19:41

Good spot foxy22.....3.4% increase offer on the share swap.Every little helps.......sorry that's the Tesco motto.Looks like June 7th is completion date earmarked to finalise the takeover.With the strike over at Sibanye and the pog depressed at the moment (hopefully short-lived and we can get pog towards $1350oz to $1400oz by years end) i hope we can be positive going forward.With platinum wage negotiations coming up and the prospect of AMCU not taking a disruptive part must also be cause for optimism.Come his far through a tsunami of bad news,negativity and false dawns,might as well stay in for the long term.I think firms like Sibanye-stillwater will provide a 'bellweather' for the state of the SA economy.If mining companies like this are allowed to collapse and fold from here,i can see no future for the South African economy and all the repercussions that involves.Hopefully foreign investment money will start returning........we shall see.

[foxy22] 25/4/2019 16:47

See that sinsnye agrees to raise share ratioAny more details??

[redbaron10] 22/4/2019 13:08

It's good to hear the strike by Amcu is over.Let's hope this is the last for a while.Now Lonmin can get this takeover deal from Sibanye over the line hopefully.It is getting a bit like the Brexit deal,i think everyone needs a reality check and a little compromising wouldn't go amiss.Nobody gets everything they want from these negotiations,but with good faith and a respect of opinions on both sides, it is amazing what can be achieved.Lonmin cannot be a stand alone entity,the historic legacy issues such as the Marikana massacre,and three rights issues,have left management in a near impossible situation.There isn't a lot of goodwill left between the workers,the community and the Lonmin management.Time for Sibanye to take control and get a new working relationship going on all sides.

[foxy22] 17/4/2019 16:01

Amcu union st sibanye ends strike

[scoble2] 11/4/2019 15:05

Good opportunity to buy again

[foxy22] 10/4/2019 11:03

Maybe something to do with sibanye1.7 billion fundraising...its share price plunged 12% today on jse

[foxy22] 10/4/2019 09:38

Rand strengthening