Spark Ventures Share Discussion Threads

[oooff] 11/10/2015 17:37

I have a certificated spark holding. I decided to take up my placing shares, plus 1 extra share to take the total to a round number. My assumption was, I would receive 1 new certificate for my new total of spark shares.
I actually received 3 new certificates. One for my consolidated original spark share holding.
Another certificate for the placing shares and yet another separate share certificate for the single share above the placing amount.

[topvest] 05/10/2015 20:01

Well I've bought into this. Only a small holding, but I like the NEW Gresham House investment strategy being lined-up here. Good to pay £8 when the NAV is £10 and others have paid £9 in the placing. Taking advantage of the disgruntled previous shareholders wanting out and then the sells will likely dry up.

[topvest] 08/8/2015 21:04

You get 1 new share for every 200 old ones you owned.

[capt bligh] 07/8/2015 11:20

Did anyone go the the AGM?

[calamity] 28/7/2015 16:11

A HA...thanks...no use to me then I have a massive 2000 shares....I can see from that then 500 would mean a consolidation down to 2.5 shares or a cert for 2 shares....LOL...at least I'll have a share cert for 10 shares....I'll have to inform them to have an RNS holding issued....
By the way....where the hell is section 11...I have only parts in the document sent to me Pt. 1 to Pt.8
Having written that I've now found your "bullet point"...It's actually section 12 not 11 under Part 1.
And it is a free service for those under 500 shares...AFTER THE CONSOLIDATION...
Thanks anyway....found it in the end...I'll most likely take that offer then after all when I get my new share certificate....that will equate to a loss of approx. £2820 over the past 12 years....yes and I'll be able to set those losses off any gains I make in the future....what a blessing...gains what the hell are they....

[super_sub] 27/7/2015 14:28

It's in section 11: "Capita Asset Services will be offering free dealing to Shareholders wishing to sell their entire shareholdings of up to 500 Ordinary Shares (following the Share Consolidation)".
I guess it will just be a mail order service; details will be sent out with the new share certificates.

[calamity] 27/7/2015 11:35

In the documentation where do they offer this free dealing facility...I cannot find this facility within the documentation
Re Q & A question 9 indicates contact your broker to sell or use their service...but not free....if it was I would probably use it...otherwise it will remain wherever it lays...

[super_sub] 24/7/2015 19:52

Ah, I can see the reason for the large consolidation now. SPK obviously still have a lot of small shareholders from the dot com days, and most of them are probably in certificated form. So by implementing the 200:1 consolidation along with offering a free dealing facility, they are hoping to squeeze most of them out. And to be fair, it's probably the best option for anyone in that position.
I sold out on Wednesday morning, but still qualify for the open offer. Barring a very unlikely rise in the share price next week, I won't be participating though, as the current mid price indicates a new share price of around £8.75 after consolidation.

[calamity] 24/7/2015 18:22

Hang on...is your calc correct. Surely with the 1 for 200 surely you'll get 25 shares at the new £9 a share...that would give you the same value of circa £218...actually £225...wont it....I have 2000 shares from the year dot...that is the dot com boom boom days that I paid for at the time £1.44 I think it was....a salutary lesson learned....or do we actually learn anything from our losses....no I think not by staying in what is actually a grand casino or should it be spelled slightly differently.... CONSINO....

[ali47fish] 24/7/2015 17:35

can anyone please clarify if it is worth participating- i have 5000 spk shares valued currently at £218- if do participate, i will be entitled to 4.17 shares- so i am not sure what is one gaining with such a small number of shares- what will happen if i dont take the offer? The shares will lapse and what do i get paid?

with thanks

[typhoon] 24/7/2015 09:51

DID Simon Thompson ever give an update as promised on his view on Sparks after the companies recent announcement?

[topvest] 24/7/2015 09:48

This seems a reasonably common event in these markets. Both this company and LMS Capital have done a U-turn on winding up this week. It does make sense I suppose if decent alternative proposals are received.

[exit234] 24/7/2015 09:35

As others had mentioned, I entered this fully expecting them to wind down the company and convert everything to cash, or distribute IMO shares. That is what all the announcements had been suggesting until the most recent. I can only think it is a way for the management and directors to extract some more money. Disappointed really. Sold out for a 20% gain (225% annualised) so can't complain too much (and this was entirely based on the fortuitous and timely rise in the IMO share price after my purchase rather than any skill) , but it could have been so much better. Good luck to all those that decide to hold. I hope the new investment managers prove their worth.

[capt bligh] 22/7/2015 13:47

Not sure what to do...the directors of GHE are putting a lot of their own money in at £9

[super_sub] 22/7/2015 13:13

If you want to sell out, then you'll have to do so in the open market (current bid showing as 4.25p) as unfortunately there's no cash option in yesterday's announcement.
So that big discount to the current NAV (5.8p) is going to be massively diluted by all the new placing, asset swap and open offer shares.
All shareholders at start of play this morning will be entitled to apply for the open offer shares at £9 (equivalent to 4.5p).

[capt bligh] 22/7/2015 12:35

If we decide to sell up which of the many dates on the timetable is the relevant one and we would get 4.5 p. correct?? despite the NAV being 5.25 and rising see IMO
Amazing they congratulate themselves on a terrific performance despite having accumulated 150 million worth of tax losses!

[super_sub] 22/7/2015 11:02

Obviously that £9 issue price is the same price for existing shareholders as it is for the new placing shares and those issued for the asset swaps.
I'm not surprised to see this morning's drop to below the £9/4.5p issue price.
I have decided to sell out, as the main reason for my holding (i.e. cash return) is no longer there.

[super_sub] 21/7/2015 23:41

Before today, or at least before the annual results on 10-Jul, all SPK shareholders would have been expecting cash (or maybe cash +IMO shares) to be returned to them in the near future at somewhere close to NAV, which is now approx 5.8p.
"The Company recognises that some Shareholders may not want to continue as investors as the Company pursues its New Investing Policy", so it would have been nice if they'd have offered those "loyal and supportive Shareholders" the cash exit they were expecting, rather than an opportunity to invest in new shares at a 10% discount to yesterday's share price (which itself rose 25% on that day as a result of that timely IC tip)!
I do agree that the 1:200 consolidation is a bit strange. A lot of companies tend to split their shares when they reach £10.

[topvest] 21/7/2015 20:39

Well yes does seem rather rushed. I'm going to take a look at this company again after a number of years away. I'm a holder in Gresham House. Rather miffed you are getting the SAL shares at a 7% discount to a low share price in an asset swap. The Miton shares also look a good swap. All a very odd arrangement but does look positive here. Will look at further I think, but probably await the consolidation.