Clipper Ventures Share Discussion Threads

[rfaustin] 19/1/2012 07:50

Hi Judgement

I am also interested. We also still have a certificate for about 3000 shares. We were offered the 5p but did not reply, preferring to keep the shares even if unlisted. I was never able to find a document saying the offer was compulsory, and although our broker said the company had informed the stock exchange they had reached the 90% or whatever it was acceptances to make the offer compulsory, I could never find this in RNS on ADVFN or on London Stock Exchange stock notices which made me wonder whether it was part of the tactics to scare us into selling.

Also, having just searched unsuccessfully for company financial information since it was taken private, where did you get the information that they have "pretty much destroyed the company"?

Thanks in advance.

[deswalker] 13/1/2012 13:41

Hi Judgement

With considerable annoyance I took the 5p when it was first offered but one of my contacts kept a few loan notes to monitor the situation as we suspected foul play (and I still suspect it at some level). My contact was compulsory purchased as you say, along with I'm guessing all the other note holders, many/all of whom were contacts of the two protagonists. I still find it unbeleivable that all these people bailed at 5p at the same time when the prospects were so bright ...

I don't know what a dissenters' register is or why it is in place. Perhaps you can explain ? Maybe some of the loan note holders didn't get what they expected in the end ...

I've not been following the current race or the company since I was relieved of my shares at such a derisory price. However I would take great pleasure if the company has fallen to bits. Can you enlighten at all ?

TIA,

Des

[judgement] 13/1/2012 13:32

Found that the compulsory purchase actually completed 23rd Feb 2010 @5p!

Funds have been held in a dissenters' register since.

It now looks like the current owners have pretty much destroyed the company. No surprise really.

[judgement] 14/8/2010 11:50

Still holding, so no compulsory buy back yet.

[davidosh] 27/1/2010 10:24

Numbers 1,3 and 4 may be of interest here. The Press will be given the full list of nominations.

[deswalker] 11/12/2009 10:41

I'm away on holiday at the moment. Have we heard anything about take-up of the Offer ? TIA, Des

[deswalker] 05/12/2009 20:16

Loverat,

Thks very much for your post. Keep an eye out on here in due course.

I already know of one shareholder who has taken a nominal sum of Loan Notes and is retaining a nominal sum of shares. I'd love to hear from others who are not taking the cash.

Obviously depending on David Barry's actions I think there's a fair chance that the compulsory purchase clause might kick in and so none of us would retain any shares. However in that case I would be very interested to hear from Loan Note holders.

Des

[loverat] 05/12/2009 17:10

Yes - certainly looks like another bunch of shysters behind this outfit. The reason they do it is because they think they can get away with it.

I'm not into action groups as they tend to be devisive and destructive. However, I am more than willing to contibute to helping expose any wrong doings here.

For those who doubt that things can be done take a look at London Asia Capital (LDC) The company was suspended and delisted 18 months back and just recently the new CEO has exposed and published a list of wrongdoing by the previous CEO. Not only that but it looks like shareholders will get back all their money. This situation looks very different but that success story and people no longer being prepared to tolerate wrongdoing and dodgy practices is gradually changing attitudes.

Recently I reported two individuals to the FSA and perhaps surprisingly they are taking an interest. It seems with the banking scandal failures and the recent threat of being abolishing has had the desired effect - at least for now.

[deswalker] 05/12/2009 14:13

21simthy,

Don't get me wrong we have been had big time but they will get a minimum of 83% excluding David Barry's decision and that just gives them far too much control. The situation with the Loan Notes and the Irrevocable Undertakings is an absolute disgrace.

As Keynes once said ...

"When the situation changes, I change my mind. What do you do ?"

The situation has changed beyond all recognition from when I got involved two years ago. I ask myself, would I invest new money at 5p in Clipper under the current terms and the answer has to be a resounding "No". One needs to forget the loss and concentrate on where we are as of today.

I shall have more to say after Christmas.

Des

[21simthy] 05/12/2009 13:43

Fair enough Des.

Sometimes it's easier to get what you can and hopefully learn from
the situation and hope it will never happen again.

You watch him relist it in say 5 years time at a much bigger valuation.

[deswalker] 05/12/2009 13:23

Maybe but one needs to know when to fold. I don't want to say more now but shall make one last long post about the situation once I've got the cash in my bank account.

[21simthy] 05/12/2009 12:08

Isnt that letting him win then ?

[deswalker] 04/12/2009 13:00

Just a quick post to say that I've accepted the Offer. See you guys around.

[deswalker] 28/11/2009 15:15

nick ... you have mail.

[davidosh] 28/11/2009 13:36

Terrible behaviour and bad publicity seems to be your best retaliation or a group action for unfair treatment of a minority as the offer is straight after the delist do appears totally engineered.

[scburbs] 28/11/2009 13:26

Despite the fact I have sold, I received the offer document from RaceBidco to buy CLV at 5p per share.

No-one will be surprised that RaceBidco is an MBO.

It is exactly this sort of shifty behaviour that led me to sell at 5.65p (for a hefty loss) shortly before it was delisted, despite the fact that I believed the company to be worth much much more than this.

The Directors seem to have behaved with a complete lack of understanding of sporting behaviour! i.e. delist (to stop the share price starts rising!) in order to be able to takeover the company on the cheap out of the sight of the market.

[21simthy] 26/11/2009 13:56

Good for you Mr Barry !

I only wish i had a large % of these now to lend some support !

[deswalker] 26/11/2009 11:08

A further article in the Standard...

[joan of arc] 24/11/2009 13:56

This is what gives AIM shares a bad name. How did they (effectively) acquire 73% of the shares without having to make an offer before, or once it's delisted can they do what they like? I don't know how one can take effective action aginst an offer like this, which is downright robbery.
I sold out for 4p when they declared they were taking it private so I should be well peeved other than for the fact that this situation would have left me with an even fouler taste in my mouth.
My commiserations to those still holding. They need to change the law to stop these kinds of gansters.

[deswalker] 24/11/2009 07:54

Arthur - I'll drop you a quick line on the email address I have for you - Des

[arthur_lame_stocks] 24/11/2009 00:33

Des sorry but I don't know who you are on the Fool!!! If you let me know i'd be interested in hearing what's going on here. Cheers

[deswalker] 23/11/2009 16:45

Ive just noticed this on the website of Value Investments Ltd aka David Barry. According to my records he holds a fraction over 10% of the shares.



It looks like he wants to hear from other Clipper shareholders so maybe he's considering an Action Group !?

[deswalker] 22/11/2009 08:33

Arthur,

As I'm sure you remember it was me who suggested them to you. There's nothing wrong with the business IMO but we are in the midst of a rather serious situation. If you're interested I can explain the very simple but very serious points that I'm talking about. Contact me via TMF private message.

I can honestly say I've never seen the like of this situation in 12 years full time in the markets.

Des

[arthur_lame_stocks] 21/11/2009 21:56

I didn't like clipper because I always saw it as a bit of a hobby business with limited potential.

There's not much i'd buy at the moment to be honest with you.

[pregonda] 21/11/2009 21:06

hindsight is easy. what equities do you like ALS?