Galahad Gold Share Discussion Threads

[skyship] 28/11/2007 08:09

Hi Alan or Tiltonboy - just bt 50k @ 16.465p - strange that they are available at that price. Is all OK here? I don't mind waiting 6months+ - just looks like a Gross Redemption Yield type deal; so after yr response will buy more if I still can....

[brad44] 21/11/2007 08:55

thanks tilton, thanks fez

[fez] 20/11/2007 23:09

Brad44...

...you can expect at least 18p on liquidation which is 7.5% up from a 16.75p buy price.

When exactly the first payment will be is unsure, however annualised it's gonna be much more than 7.5%.

The bonus is that due to tax considerations and interest on their cash pile, it could be much more than 18p.

[tiltonboy] 20/11/2007 21:59

Brad,

You would be giving up another 10% by selling now.

tiltonboy

[brad44] 20/11/2007 21:12

Tiltonboy, is there any potential upside from here that you see, ie a good reason not to sell now, as the price I assume will not rise far above its present level?

TIA Brad

[fez] 20/11/2007 17:45

Hi tiltonboy

As I said - the info was from my online broker - it was dated 14th November.

I've since found out thanks to Michael Walters (www.michaelwalters.com) that it's out-of-date.

Apologies all

[tiltonboy] 20/11/2007 17:23

fez,

That is the old information.

tiltonboy

[fez] 20/11/2007 13:36

I received an update from my broker which is similar but more detailed than the last RNS:

VOLUNTARY LIQUIDATION On 14 September 2007, Galahad announced that it would be
seeking to return cash to its shareholders by way of a voluntary liquidation of the Company, and that it
would call a shareholder meeting to reorganise its share capital so as to allow shareholders the option
of electing to receive the majority of their return as a dividend before the liquidation commences.
Galahad has since disposed of all of its investments and its assets now solely comprise cash held in
sterling on short term deposit. HMRC (Her Majestys Revenue & Customs) has been notified of the
intention to liquidate the company and also of the intention to reorganise the share capital so that a preliquidation
dividend can be paid.

Relative Details and Dates: Please see below the provisional timeline
to the Voluntary Liquidation.

26 November 2007 EGM to effect reorganisation of share capital.
26 November 2007 Pay date for pre-liquidation dividend.
3 December 2007 EGM to appoint a liquidator.
7 January 2008 Interim distribution in liquidation.

Further information may follow in due course.

[nickcduk] 09/11/2007 09:54

According to the company timetable the EGM circular was due to be issued this week. Has it been sent out already or have the dates changed?

Thanks in advance.

[nil desperandum] 31/10/2007 16:26

It looks like Mark Slater has bought 10m more in the last month - now holds over 7%... I guess he was the big buyer yesterday.

[nil desperandum] 30/10/2007 20:53

someone is confident - buying 2.25m @ 17p...
might well indicate that my min of 18p will be exceeded - hope so!

[tiltonboy] 29/10/2007 13:50

trader,

Your reading of the situation is correct.

tiltonboy

[traderabc] 29/10/2007 12:43

'take it as a dividend, and will receive the cash in December, or you can take it as a capital repayment, and receive the cash in early/mid January.'

Tilt thanks for your response,I don't really understand what is going on here,why there are two options,what is the difference between 'capital repayment' and 'dividend' presumably the amount of money will be exactly the same so why the two options? Are the two options offered to suit peoples different tax implications? Thanks in advance for your help.

[pomp circumstance] 29/10/2007 12:38

im sure they will pop up again with a Soft Commodities company where they have a bigger share of the pie than they would have if they had put the deals into galahad!

[tiltonboy] 29/10/2007 12:34

trader,

You can elect to take it as a dividend, and will receive the cash in December, or you can take it as a capital repayment, and receive the cash in early/mid January.

Nothing is certain, but it is as close to it as you are going to get.

tiltonboy

[traderabc] 29/10/2007 12:29

tilt,do you know when we will be getting the cash? Is it 100% definite?

[tiltonboy] 29/10/2007 09:08

altom,

and on the 14th September, the company announced that they no longer intended to go down that route, and were liquidating the company, and paying shareholders back.

tiltonboy

[altom] 29/10/2007 06:24

on 21/08/07 minesite.com said : Galahad to switch focus from Mining to Agripods. It gave potted history of Galahad and said Slater and Watson were planning to take Galahad into farmland and related assets.
Does anyone know any more about this ?

[pseudoalias] 16/10/2007 13:39

free money

[nil desperandum] 16/10/2007 07:57

Actually, I'm expecting 18p as the minimum ... if good news leaks out then the price will creep up... but unless good news is announced, as it approaches 18p some will sell, so we're probably in a tight range until more news or payout.

[tiltonboy] 12/10/2007 16:38

Because you are likely to get 18p for them, that's why!!!!

[cestnous] 12/10/2007 15:31

Does anyone know why this is continuing to go up because I for sure, do not.