Baobab Resources Share Discussion Threads

[kbrook] 28/2/2015 15:32

Ok good. What are your thoughts about this debacle? Do you feel cheated, lied to, deceived, other?

[kevin1962] 28/2/2015 15:26

No Brooky.

[kbrook] 28/2/2015 15:11

And there are a couple of regulars on here with major share holdings who haven't been heard from since.
I am maybe getting paranoid but were they in the know, part of all this ?

[kbrook] 28/2/2015 15:04

Wonder if thats why Dr Kaul left. Maybe he was the member of the board with some morals.

To be fair to the likes of Solonic and others who have warned about this for years they have been quite reserved in their postings since this mess started yesterday. The only one who is gloating is one of the regulars on here who luckily made a timely purchase.

[nav_mike] 28/2/2015 13:30

I remember ENK from a while back as well...

Directors blabbed about a NAV of about 30p i seem to remember, and that any offer would need to be at a premium...

Lo and behold an offer came in below 20p i think and all the board backed it.

One long line of con merchants in this market

[emtrad] 28/2/2015 13:28

Hi Sweet Karolina, interesting, I haven't heard of that scenario before. So, to clarify if that were to develop here and you were effectively forced to sell, would that be at the 6p price as the current offer stands?

I must admit it does interest me after pondering for a few hours to hold a small number of shares beyond de-listing just to understand the ins and the outs of the process. They'd be of little interest financially but it'd at worst be a learning curve which may benefit me in a similar scenario in the future. Food for thought.

[sweet karolina] 28/2/2015 12:59

I had a situation a bit like this with ENK a few years ago. Minor shareholders tried to fight it, but it was hopeless. In that one anyone who did not take the offer got compulsorily purchased. I accepted the offer on all but 1 of my shares and let them go to the trouble of compulsorily purchasing the last one.

Compulsory purchase has not been mentioned here yet, but it is an option, they will not want the hassle of a load of minor shareholders and they may well get the court order they need to compulsorily buy any who do try to hold out.

[6kenny] 28/2/2015 11:46

Well looks like a conference call is being lined up for investors on Monday at either 4 or 5pm.

Email ben or Jerry for more details.

[duplicate book] 28/2/2015 11:35

Sounds like the logical thing to do..........Live long and prosper all.

[emtrad] 28/2/2015 10:56

FWIW I will be accepting the offer at 6p, I have been in this position before (Namakwa Diamonds) and sold in the heat of the moment at below the offer price which cost me money. Equally we all have seen cases where higher counter offers are made but I am not banking on this nor expecting it, 6p will be a lick my wounds price.

I know of some people who have held stock once delisted and done very well, not without its risks either. Obviously REDBIRD have plans to make profit here and the delisted company may itself be subject to a buyout later on down the line. Again, I will say I am not taking this risk myself but some people, unsure of their position, may welcome some info there as a lot of false information or scaremongering is about at times like these.

I am making a 5 figure loss here so it is painful, last year I scored very lucky in some other AIM investments so I am no worse off, albeit my pride is bruised. Personally, this'll be last venture in AIM as I have found this investment to be stressful, and basically not fun. AIM is a little too bent at the moment.

Many thanks to the fellow contributors here. Best of luck in the future and good health!

[hollywood6] 28/2/2015 10:38

Kbrook - sorry to hear your on for a loss. I used to be in here so feeling for the LTHs. I thought the Board were honourable and interested in a return for the investors, I guess I was wrong. It would have taken a lot of cash to get this moving and maybe in a different time it could have raised it. Take the money that's on offer

[kbrook] 28/2/2015 10:17

You may be right Solonic. Will have proper think this weekend. The other factor is I need to try and recover some losses, it won't be in AIM so I need the cash to be able to do so. Hopefully get closer to 6p than now though.

[sidneyellie] 28/2/2015 09:45

I suppose it was Redbird selling Millions last year at 10p - 12p, knowing
what was coming,

[pete_bane] 28/2/2015 09:37

I toled you all so way back when the share price was 55p. I sold my 3 million plus shares then and am sitting back in my seraglio in Turkey with houris attending to my every need, the only thing missing is my septum.

I wish you guys were successful investers like me.

[targatarga] 28/2/2015 09:17

abbott4303 - if you look at some of the recent moz disasters. nvta, bhr and now bao you may find that there's always another cash call waiting. bhr turned down an offer at approx 16p several years ago[soon followed by another rights offer]. As the share price falls directors struggle to raise funding for their wages etc.
I lost a huge amount on nvta, everything they touched went wrong. Brokers were involved in the many fund raisings and the shares drifted down.
Funny how the white night who provided the rescue package ended up with the cream. Question for me here is are the management trustworthy?
I had the pleasure of a holiday in mauritius several years ago and a mining convention was held in my hotel. I spoke to one of the miners and he insinuated that i'd been conned. The miners need to be tough, for several months of the year it's like working on the moon. Ask anyone whose been to moz about the conditions in the field?
In my opinion further dilution is inevitable.... imho

[topicel] 28/2/2015 08:30

I told you lot yesterday. It is a done deal because JD and co have promised their votes/shares to Redbird unconditionally.

No other bidder possible as no-one has the clout. Don't forget they now tell us that we will go bust or be diluted to hell if we don't accept anyway. They knew, the auditors knew, and I told you all when the bridging loan was announced that we were then under the whim of Redbird.

It was a raging buy at c. 4p. The BoD have let us all down by not asking Redbird to buy us when the loan was offered, that is what stinks as we drifted from there...'independent directors'!

Topicel

[kbrook] 28/2/2015 07:33

Terrible nights sleep, dreamt that BJ and JD had shafted us and sold us out for 6p. Crazy nightmare,like that could ever happen.

[seanywauny] 28/2/2015 00:29

FFS , find out where they live and send a bullet in the post, with a card saying 'do the right thing, there's a good lad'.

[abbott4303] 28/2/2015 00:14

Why don't the chinese come and offer more now rather than pay a lot more later ?

[cashstrapped] 27/2/2015 22:52

6k - think the chances of that are the same as a child of mine as a result of one of many sperm donations has won the lottery and decided to track me down and give me most of it!Stranger things have happened though.