Ceres Power Share Discussion Threads

[sueyou1] 17/12/2012 21:12

I wouldn't have your 4,877 shares if you gave them to me LOL!!

Only 3p until the 330,000,000 shares at 1p are issued!!

330,000,000 shares SOLD at 1p vs 86,215,662 shares CLINGING ON to 3p, no competition!!

[tara7] 17/12/2012 20:42

Sue, that must be your 4,877 then.!!

LOL!!

PS shares are still 3p not 1p.!

[sueyou1] 17/12/2012 20:30

So much for the big vote, looks like only those with a big interest in 80% of CWR landing in the hands of the placees voted it in!!

22,612,549 proxy votes, votes in favour 22,612,549, votes against 4,877

Holders of 63,593,359 shares didn't even bother to vote!!

Holders of 73.76% of the stock DID NOT BOTHER TO VOTE!! EVEN BY PROXY!!

[buyemcheap] 16/12/2012 06:49

I think that Sue has lost a lot of money on this share, thats why he is so bitter. I bought near the bottom so it makes no odds what happens to it really, lol!

[sueyou1] 15/12/2012 13:49

Still all I can see is clowns and fools LOL! 80% dilution and more is definitely coming, around mid-2013 IMVHO.

buyemcheap 14 Dec'12 - 18:07 - 5178 of 5180 0 0 (Filtered)
Smokey 1o3 14 Dec'12 - 22:43 - 5180 of 5180 0 0 (Filtered)

[smokey 1o3] 14/12/2012 22:43

SOu You
Presumably 5177 was your last warning because you said 5172 was your penultimate.

[sueyou1] 14/12/2012 20:26

buyemcheap 14 Dec'12 - 18:07 - 5178 of 5178 0 0 (Filtered)

[buyemcheap] 14/12/2012 18:07

Sue You, Like I said before, if you don't like it then fukc off! Its bizarre!

[sueyou1] 14/12/2012 17:06

Bizarre!! On the one hand it's not surprising that some idiots would ask for loads of shares as they were only 1p each, but on the other hand it's surprising that anyone actually wants the stock, when they know full well there is a lot of dilution coming in as little as 6 months time and that those owning 80% of the company will be the one's stumping up the cash and ending up with an even bigger percentage of the company!!

I think after the next fund raise there will be less than 5% of the company in trading hands, so hardly worth being listed, also the big holders can vote a takeover of that 5% and get it through themselves at a very low price.

Talk about throwing good money after bad LOL!! This stock is clearly for clowns and fools only LOL!!

[smokey 1o3] 14/12/2012 10:34

Sou You
Thank heavens you have decided in the last sentence of 5172 that that was your penultimate warning. Only one to go then!!

[buyemcheap] 14/12/2012 09:39

Mr Sue, what axe do yo have to grind with this company. If you don't like it, invest elsewhere, Simple

[sueyou1] 13/12/2012 23:04

I owed you one.

[typo56] 13/12/2012 22:10

Naughty Sue, you took my sentence out of context.

[buyemcheap] 13/12/2012 12:08

Pierre that sounds sensible to me, its not a straightforward dilution because money is injected into buying the new shares. The 1p offer price was determined when ordinaries were sub 2p, I think it was 1.89 without looking, so the offer price should have been a bit more according to todays valuation.

All the same the chart looks positive to me, I don't think its going to die like a dead dog that most of them do.

[buyemcheap] 13/12/2012 08:55

Typo I see now. You think all new ordiaries will drop to 1p after next week?

[typo56] 12/12/2012 22:51

Do the open offer shares confer the same voting rights as the new ordinary?

Yes, otherwise they would be a different share class and require a separate listing and you'd have to trade them separately, which would be a bit bonkers.

The placing and open offer are for New Ordinary Shares. They are the same New Ordinary Shares that existing shareholders receive.

[buyemcheap] 12/12/2012 21:15

Mr Sue I was writing to Typo not you, so why did you write to me? and you call me clueless? The price touched 4p today before falling back and you said 4.5p was 'ridiculous'.

Typo I still dont understand what you are on about. If I don't do aything, my current holding will become the same number of holding in the new ordinary. So if you short now you will still be short of the new ordinary.

However the open offer shares are a different thing. Without trawling back through the posts [something I dont really want to do] It seemed like you were talking about shorting the ordinary and closing with the open offer shares. Thats why I brought up the subject of the 49 to 60 odd ratio. Do the open offer shares confer the same voting rights as the new ordinary?

[sueyou1] 12/12/2012 17:30

I can see 800k of shorting put on recently.

[sueyou1] 12/12/2012 17:23

I am the one that wrote it and I know it is out of context!

[typo56] 12/12/2012 17:17

Taken out of context? I'll let the viewers decide!

[sueyou1] 12/12/2012 16:53

buyemcheap, you are so clueless. You should stay away from investing until you have learnt something!!

You say: "Typo, From what I can gather the offer shares are different and don't hold the same voting rights, so I still can't see how you could close a short with them? Also I have read that offer shares are supposed to be repurchased by the company in due course?"


The company says:
"The New Ordinary Shares will have the same rights and benefits as the Existing Ordinary Shares. The number of New Ordinary Shares in issue following the Capital Reorganisation will be unchanged from the number of Existing Ordinary Shares in issue immediately prior to the Capital Reorganisation."

"The Deferred Shares, which will not be listed, will be effectively valueless, non-transferable, carry no voting rights and have no effect on the economic interest of the Shareholders. No share certificates will be issued for the Deferred Shares. Instead it is intended that all the Deferred Shares will be surrendered to the Company for no value and/or cancelled in due course."

Enough of the tosh:
buyemcheap 12 Dec'12 - 12:40 - 5159 of 5162 0 0 (Filtered)

[sueyou1] 12/12/2012 16:48

Typo56, no, you were confused by what I was saying and have taken that part of my post out of context to make your point, but I was clearly referring to the placing and offer stock at 1p being priced in, not the 4/5 going in the bin.

"Save for the dilution which will result from the issue of the Firm Placing Shares, the interests of Shareholders (both in terms of their economic interest and voting rights) (assuming they take up their Open Offer Entitlement in full) will not be diluted by the implementation of the Capital Reorganisation."

Currently 86,215,662 shares in issue
After reorganisation still 86,215,662 shares in issue

After the Placing and offer there will be those 86,215,662 shares in issue, which are valued pari-passu with the new shares being issued in the placing an open offer, therefore the current stock is only worth 1p, because the price that the 330,000,000 shares are being sold into the market at is 1p and all shares are valued pari-passu. Nobody in their right mind would pay 3p for shares that in less than a week will be sold into the market in a massive swathe at 1p.

As for LMI, I don't care for comparing chalk with cheese but as you wish.
LMI have a MCap of £577.29m, CWR are only at £2.73m.
LMI have assets of £246.27m, CWR after the write-downs I posted about yesterday will have assets of max £5m.
LMI have turnover of £1,614m, CWR have £0 and will have £0 for years.
LMI have a NAV of 838.58p per share vs a share price of 284.30p (1/3 of NAV), if CWR were valued similarly it would have a share price of about 1.5p but as it's much higher risk and will just be burning it's cash then 1p or less is about right in my book and about 0.5p after they have burnt most of this cash and come back to the market for more in 6 months time.