Adams Share Discussion Threads

[nickcduk] 14/4/2008 07:24

Suspension of listing is a technical matter. As an investing company they were given 12 months to find a company to reverse into. As they failed to find one during that period the stock exchange requires them to suspend their listing. They will be de-listed in 6 months time if ADA have not found an acquisition. Obviously they are not looking for an acquisition and we should have our cash back in relatively short order.

[par12] 14/4/2008 07:14

They delisted; I hope you guys get something out of this, Its one big fast, Over 100p, to ZERO, from a 40 mil payout to a 20 mil poss payout; I sold here with small profit; Very Small; like wise with Orca, but still hold 100k in both BLZ and VDI;

[eenmakkie] 10/4/2008 18:26

After the delisting I can not see them paying anything anymore, especially the money left if they eventually pay the "dividend"

"In addition, the Company is updating its shareholders that on 14 April 2008 its shares will be suspended from trading on the AIM"

"The Company also informs its shareholders that its board of directors resolved
on 6 April 2008 to consummate the voluntary liquidation of the Company."

[katylied] 10/4/2008 13:49

As far as I can tell, there is a double-taxation agreement between the UK and Israel that includes capital gains. This has certainly been the case for other Israeli (listed in london) share-dealing profits. So on the surface, all this 'with-holding tax' waffle, just seems like a load of nonsense for UK residents...

[eenmakkie] 10/4/2008 08:26

Oke they did it again!
They managed to rip all of our money!
Delisting on the 14th of April.

Those extra pennies we hoped for can be stuffed up your a$$.

Capital gain tax of 20% THERE HAS NOT BE ANY GAIIIIIIIIN, only losses.

In the end selling at 25p was still a good deal.

PAR if you havend understand it yet now and still are holding on ORCA now you have profit?

19million dollars have been riped by tricks, there do not going to be a payment anymore, after the delisting and directors to run away it will be quit.

Where should they post the news and updates of the dividend payment?

[par12] 10/4/2008 06:07

monies on the table

[eenmakkie] 07/4/2008 11:09

Still no news, so the time to update us should be passed?

I want to wake up out of this nightmare, I really had enough of the whole Emblaze bunch.

Do start to understand why they have problems with there neighboring countries. You can not take what is not yours. The problem with the Emblaze bunch is that they think that all the money on there started companies bank accounts belong to them. It is hard to give back some of that IPO money they raised from UK and other investors....

Was thinking that Emblaze at this price would be a good entry point again but with this ADA mess where it should be an easy pay-out, I feel that Emblaze and Co is a stay away bunch at any price, even if it falls below cash value....

[par12] 07/4/2008 09:27

Any of you guys been paid up as yet ? , maybe a good time to buy more shares,

[luafc] 05/4/2008 15:59

I know - that's my point. This is a capital distribution and so I cannot understand the withholding tax references in the RNS releases and circulars issued by ADA.

[eenmakkie] 04/4/2008 21:05

Income distribution?
There have never been any profit and the stock droped almost the same amount when it went ex-dividend that till now never is paid.

[luafc] 04/4/2008 19:50

Why would these guys update you in a timely fashion? Have they paid out the divis in a timely fashion? Incidentally, with all the inherent delays, couldn't the escrow funds now be released too? Not holding my breath.

Finally, I'd be pleased if anyone could explain the relevance of a withholding tax issue that has supposedly contributed to the latest delay, given the distribution is capital in nature. Forgive my ignorance, but I don't get this as I can only see the potential relevance of this for an income distribution.

[eenmakkie] 04/4/2008 08:10

4 april and no news yet!
Is this good news???? Or Ada has already the new ruling but they still need to udate us.

[eenmakkie] 01/4/2008 09:26

Hey PAR12 still holding your ORCA and BLZ shares?
Or do you think that are different people and they will payout 29p a share.

Holding BLZ should be a protection against ORCA scam because they are the largest shareholder of ORCA.
But they will find a way.....

[eenmakkie] 31/3/2008 09:08

How can large holders get more out of this as the small holders?
You need to explain that.

Not a lot of shares where bought far below the 24p, so they have almost no earnings to be taxt on. A dividend on 26p is always higher as if you pay a capital tax gain if you bought them around the low 20p.

[par12] 29/3/2008 18:12

What they should have done is brought back the shares from holders for 29p rather than give a divi; as we all know Divi's are taxable and can not even be used as a loss on a gain; I reckon they are trying to allow large holders to get the max out of a zero rated share price.

[par12] 28/3/2008 23:28

All we need now is insider share dealing scam with ORCA

[eenmakkie] 28/3/2008 22:54

did already had that feeling sometime ago.
I have a long list of Israeli companies that shafted shareholders:

For Kids Entertainment (nasdaq) a lot of earnings and cash but never paid a dividend

Loral Space comunication (satelite comunication, maker of satelites)

Emblaze ( no comment)
Orca (idem)
Zip ......
Ada *@gr.fu.ck""

[outsizeclothes.com] 28/3/2008 15:30

The details of this farce deserve sending to the Israeli Industrial Investment Authority, with a note that every company in Europe that was thinking of investing in Israel is watching and taking note.

[luafc] 28/3/2008 07:38

Logically you have to hope for a new clear and uncomplicated ruling and thrash this whole process out inside say 6 weeks.

But y/know what - I'm inclining to hope the new ruling is not obtained by 4 April, because I've reached the point where I want some real cash back NOW and the tax element can drag on longer, ie I'll take dribs and drabs and the whole admin mess it implies to get some of those sheckles back in MY pockets - I have no trust in this bunch.

All this should have been resolved with the authorities yonks ago.

Big mistake and more than ready to move on.

[luafc] 28/3/2008 07:16

This just gets worse and worse...

28 March 2008

Adamind Ltd
('Adamind' or 'the Company')

Update re cash distribution

Following its announcement of 14 March 2008 relating to the planned distribution
to its shareholders of approximately US$19.2 million (approximately GBP 9.6
million), the Company today announces that it has been informed by the Israeli
Tax Authority (the 'ITA') that the ruling previously granted by the ITA with
respect to the manner in which certain amounts will be withheld from the
distribution amounts payable to the Company's shareholders ('Ruling') has been
revised, resulting in an expansion of the categories of shareholders whose
distribution amounts will be subject to withholding. The Company and its
advisors have engaged in discussions with the ITA and are using their best
efforts to obtain a Ruling that will limit the scope of shareholders whose
distribution amounts will be subject to withholding. The funds in the aggregate
amount of approximately US$19.2 million (approximately GBP 9.6 million) are
ready and available for distribution.

The Company is aware of its previously stated timetable for cash distributions.
Therefore, the Company has resolved that if a new Ruling is not obtained by 4
April 2008, the Company will consummate the cash distribution shortly
thereafter, subject to withholding requirements under applicable law. If a new
Ruling is obtained by 4 April 2008, the Company will update its shareholders as
to any new requirements reflected in such new Ruling, including if revised
withholding-related forms are necessary. The Company now expects the first
distribution process to be completed by the end of April 2008 or shortly
thereafter.

[par12] 22/3/2008 20:56

tHAT IS WHY IT COULD TAKE ANOTHER YEAR, Every shareholder must be contacted, Hate to think of the costs; But lets see what happens to mjcrockett, lets see if they get their CASH Monday 31st March

[mjcrockett] 22/3/2008 19:52

DD, That's interesting, because I received a letter from Barclays dated Thursday in which they tell me that they will receive the funds around 31st March in respect of my nominee held shares.

MJ