Fusionex Share Discussion Threads

[lingy] 27/5/2017 17:48

What happens if you don't sell and the company is taken private?

[blah blah] 27/5/2017 15:53

If the EBT doesn't vote that means you need a majority of the remaining votes to vote no - how many will not vote or even might be mates of the board and vote in favour? I suspect this is a stitch up and the vote will go through.

[albanyvillas] 27/5/2017 15:53

Good grief

[chasbas] 27/5/2017 15:48

This is plain ridiculous...there is no doubt that they are trying to buy it on the cheap by riding rough shod over remaining minority shareholders after delisting.
The announcement only mentions Stifel. I wonder if Peel Hunt agree with this...they are joint broker. Anybody seen the official document?

Panmure Gordon are still listed on website as NOMAD and broker BUT I suspect this is wrong??

Whilst the Directors support the resolution with 42% I am worried about the Employee Benefit Trust with 13%. How will this Trust vote? I suspect they will follow the Board's recommendation. Anybody know?

I cannot think of a single reason why any UK private or institutional shareholder would support this resolution. Investors should make a lot of noise, especially the institutions. I do not think the company will achieve 75% of vote easily.

[j777j] 27/5/2017 13:58

Current trading and prospectsThe Company released its Annual Report for the year ended 30 September 2016 on 16 March 2017. In the following months since the financial year end 2016 and the issuance of the Annual Report, the share price of the Company continues to disappoint, despite the Company's strong performance. The Company remains committed to the statements set out in the Annual Report and will be continuing the strategies and prospects set out therein to push towards strengthening the Company's future.The Company is in a strong position in its areas of focus. Its business prospects remain positive and the Company continues to secure wins and contracts; with the Company's current customer base and foothold poised to increase even further as a result of these wins.Future strategy of the CompanyFollowing the completion of this exercise, the Board intends to continue with the direction and strategies set out in its Annual Report by capitalizing opportunities and continuing on its course towards quality and innovative investments.I suspect there are trying to take over the co on the cheap.Shareholders should say Nein!

[albanyvillas] 27/5/2017 13:55

No point kicking off here

This is a BVI firm so the Companies Act protections do not apply

The only think which might help is this

[blah blah] 27/5/2017 13:51

It's an extraordinary idea from the company. If it was purely having the hump about the valuation there are plenty of things they could do, not least of which is have a bit of patience - if the financial results came through as they suggest the price would react. And the fair thing to do would be to buy out shareholders at a small premium- if the valuation is too low as they say then they could easily justify a small premium. That they are not doing that makes the whole thing extremely fishy to me. I'm not a shareholder here but I think shareholders are being treated disgracefully. I wish you good luck in your efforts to get value out of this.

[lingy] 27/5/2017 13:35

Agreed I'm voting no,hopefully others follow.

[galeforce1] 27/5/2017 13:32

I think that private investors have to try to fight this.

The Institutional Investors (credit Suisse and Standard Life) currently have 8% between them. If they vote against the proposal, that's only another 17% to find.

The Board currently has 41% committed, and its supporters may buy in the market up to June 15th.

Presumably one of the reasons for the company putting out the RNS after market close on a Friday before a Bank Holiday is because it gives us all 3 days less to react. The EGM is on June 15th.

It's a good idea for PIs to report their concerns to the FCA, via the website, or by telephoning. Retail investors are being badly treated here, and the FCA usually doesn't like that.

The company should be obliged to make a tender offer to shareholders who want to exit. That would be the fair thing to do. The company has the cash to do this.

[galeforce1] 27/5/2017 13:10

J777J

Good point. The vote is not a foregone conclusion. If 25%+ of shareholders vote against this it can't happen.

[j777j] 27/5/2017 12:54

The question is,who of the remaining almost 60% of shareholders would in their right mind vote for it?They need 75% for it to pass.

[aishah] 26/5/2017 22:33

This is what scsw said in April:
"Hold but be mindful that it can often be expensive to argue against Mr Market when a foreign AIM company is involved."

[henchard] 26/5/2017 19:02

So, pulling out the key points:

The principal effect of the proposed Cancellation is that there would no longer be a formal market mechanism enabling Shareholders to trade their Shares on AIM or any other recognised market or trading exchange.

The Board intends, following the Cancellation, to put in place a matched bargain settlement facility (the "Proposed Facility") ... to serve as a limited platform for Shareholders and other persons to seek to buy or sell Shares.

However, the Proposed Facility is likely to offer a substantially lesser degree of liquidity and potentially less attractive share prices than are currently available via the Company's quotation on AIM.

Following the implementation of the Proposed Facility, the Board intends to monitor its popularity amongst Shareholders and will review it at regular intervals to consider whether it remains cost effective.

Any guesses as to the opening share price on Tuesday?

[simon gordon] 26/5/2017 18:37

Looks like the CEO's ego couldn't handle living with a share price which told him the truth.

[connor23] 26/5/2017 18:24

Well, perhaps I deserved that. Foreign Aim...

[chrisdgb] 26/5/2017 18:22

Oh dear..........

[jim208] 26/5/2017 18:16

Looks like today in an after hours announcement:



Proposed cancellation of trading on AIM

[chrisdgb] 26/5/2017 09:31

Anyone have a date for next update..?

[chrisdgb] 25/5/2017 09:33

Bit baffled by this share.........

[its the oxman] 24/5/2017 15:28

Looking bad on an up day.

[zcaprd7] 15/5/2017 18:03

Nice bit of volume as well

[chadders] 15/5/2017 15:11

We have to wait for the herd to arrive and then we'll see some action. Still under the radar methinks.