Asa Resource Share Discussion Threads

[gpgreen] 13/4/2021 16:13

It would be nice to have some news as to what plans the management have for what is left of ASA! What has happened to the remaining cash left over from the sale? Anyone known any think?

[plasybryn] 01/2/2021 23:18

I think he still holds quite a few shares. Might be wrong.

[silenzi01] 01/2/2021 23:05

What really gets to my skin is that slippery Niall Henry... sold his shares whilst lying to me how a deal with PAF was imminent. Looking back at my text comms with him from 2017 makes my blood boil. He needs to be locked up.

[casabella2] 01/2/2021 22:48

Totally agree.Its about time the powers that be filled us in on what is happening.

[plasybryn] 01/2/2021 19:01

Haven't heard anything. It grinds on. Some sort of communication is warranted.

[silenzi01] 01/2/2021 17:43

Anyone with any update?

[bcape] 21/12/2020 17:38

I just want the maximum I can get back, a.s.a.p. too. We were robbed...

[braid] 21/12/2020 17:02

I really don't want my money reinvested by these charlatans. I just want it back so I can reinvest it. Sadly, I see this bunch as the final gang of thieves emptying the coffers of what little has been left. Quite why the Financial Conduct Authority hasn't taken an interest in this corrupt fandango is beyond me.

[bcape] 17/12/2020 11:34

Companies in early stages where a £5m cash insertion might be very profitable for investors I think should include:

Moxico
ESC
ZIOC
TLOU

[plasybryn] 15/12/2020 19:21

I don't think Ian Dearing would carry on wasting his time if he didn't think it warranted it. But we need to know what assets we own and what is our exit route over what timeframe. There is always a real risk the directors will get to the trough first of course. I believe they had a fatality at Freda fairly recently which is sad.

[bcape] 15/12/2020 09:34

Tend to agree but some outstanding issues may take a while to resolve.

There are also companies where a £6m investment could return another company with decent assets around - clear debt & bond holders, etc. A reverse take-over/merger could be lucrative.

I think we should do some research & put our suggestions in before U.K. markets recover.

[bcape] 15/12/2020 09:34

Tend to agree but some outstanding issues may take a while to resolve.

There are also companies where a £6m investment could return another company with decent assets around - clear debt & bond holders, etc. A reverse take-over/merger could be lucrative.

I think we should do some research & put our suggestions in before U.K. markets recover.

[skidaddle] 15/12/2020 09:08

They should wind it up and pay out any money that is available. Then we can write off the rest as a loss and move on.

The only people who will benefit from carrying on will be the directors, some of whom are directly responsible for this debacle in the first place. Do we really want to trust them again?

[bcape] 14/12/2020 21:12

Just read the Final Administrators Report... nothing like having the opportunity to spend the most they could against the realiseable value of a company...

Assets sold off cheaply before asset prices improved, stolen funds not recovered, major levels of Administrator & Lawyer charges, many bills accepted - so ASA shareholders royally screwed...

Only £6m left of the £26m released for the assets which should have been worth at least treble that given our turnover was £84m. Some of £4m might come back if one creditor loses part of their claim, but no certainty there either.

ASA Market Value into Administration was £33m, when the ASA share price was 1.925p so, the £6m cash is potentially worth 0.35 a share. Better than nothing?

[braid] 14/12/2020 18:48

It is a little worrying that we came out of administration and we have heard nothing, officially, form the 'directors'. You have to wonder, why? Three and a half months and no official notification/RNS from the directors. I presume they are not paying themselves a salary then? Or are they just filling their boots with what little has been left from all the other vultures that have been feeding on ASA for 3 years? Perhaps, Mr Dearing can leave a message explaining the work he is doing and what he is being paid.

[plasybryn] 14/12/2020 16:22

Also got this from Ian Dearing from the email mentioned above
[e-mail]

Are we know called ARG Plc?

Dear ,,,,,

The position remains much as it was: the board is trying to restore the group and will inform shareholders of progress as soon as practicable.

Best Regards

Ian B Dearing

[plasybryn] 14/12/2020 16:20

Received this from Duff & Phelps
Thank you for your email.

Please note the Joint Administrators’; exited office 20 August 2020 and control of the Company has been handed back to the directors and shareholders.

Please see attached the Joint Administrators’; Final Progress Report dated 20 August 2020 and, as previously advised to all shareholders, all Administration updates can be accessed using the website address listed below:

hxxps://micro.duffandphelps.com/ukrestructuring/cases?caseId=1381

Please send all future correspondence with respect to the Company to the below address:

[e-mail]

Kind regards
___________________________________________
Oliver Jones
Advisory

T [phone]
M [phone]

[iamald] 11/12/2020 20:16

Tim, sorry but is it appropriate to assume because, say, a Brit has stolen off us, all Brits are thieves? It's not unknown for someone to be ashamed of their countryman's behaviour and wish to remedy it?

[plasybryn] 11/12/2020 13:55

Surely we are entitled as shareholders to see the Administrators' final report showing how funds were distributed?

[timgw] 11/12/2020 13:37

@trevorm2
The only reason for a Chines to be involved is to see what is left to be shovelled from the ashes for their benefit.

[bcape] 09/12/2020 16:51

Thanks for the feedback... at least something is being done.

If there is enough cash, perhaps a merger with with a company with assets but needing investment to get into production might be a good idea. There are quite a few around as normal.

[postiga08] 09/12/2020 15:04

my shares were held with Halifax, and they have made it sound like i will either get a share certificate or i will get some kind of money (probably a couple of quid) for my shares?

[casabella2] 09/12/2020 13:49

I think you are right there should be a rns to inform us about the future.By the way are we still a workimg company.

[bcape] 08/12/2020 23:12

Surely, legally the company directors have to recognise the shareholders if there are any assets left... and should put out some form of RNS even if the shares are no longer going to be publicly traded?

[trevorm2] 08/12/2020 18:46

Guess what. One of them is Chinese.