Glenwick Share Discussion Threads

[mikeysteven] 01/6/2018 18:43

I received my I3e shares certificate from glenwick. With glenwick delisted now does that mean I have lost my shares? It also says I have shares in Cora as well from gwik does the same apply?

[showme01] 01/6/2018 06:11

Glavey, thanks for the prompt reply lol. Think you need to move on. It's AIM and Dr Jaap Poll found an excellent investment in buying into i3e. He took all his income in shares. There are far worse directors on AIM and if you kept your i3e shares, you now have an excellent board of directors behind your investment and should be in profit now on your GWIK purchase, where as if GWIK folded, you would have got no more than 0.04p returned in cash, probably nearer 0.03p per share.

[glavey] 01/6/2018 02:42

That didn't stop them distributing Cora Gold shares did it? And the second distribution of 'a few' i3 shares offered shareholders better value.

(The trading costs are irrelevent given the primary distribution and are a matter for the recipients, not the distributor.)

Fact is we were told one thing (again!) and the company did another. The money went to ensure there was enough in the pot to pay directors following the final failed raising attempt for an investment case that was unlikely to be and indeed wasn't supported.

The Company Directors have an obligation to treat ALL shareholders equally and fairly. They failed to honour this.

Given they said they were going to distribute ALL, the withheld 20% of the distribution should tell you that they had it in mind at the time that the witheld amount might be used for other purposes. That is being economical with the truth.

[showme01] 09/1/2018 20:58

Glavey. I think it was to keep the distribution costs to a minimum. The failed open offer added to the costs of GWIK and this impacted the number of shares returned which is disappointing. If you did have 80,000 GWIK shares, you only qualify for 10 i3e shares at 29p so the trading costs would be higher than the value of the shares (£2.90) so there does need to be a sensible cut off.
The i3e does look to be an excellent investment and I have added considerably to my allocation with my 57m GWIK shares.

[glavey] 09/1/2018 19:13

Final distribution of i3 shares granted at 1:8000 but only to holders of min. 80,000 GWIK shares. No such restriction applied to original distribution (which was 1.043:1000). Restriction not previously mentioned. No reason given. So how did they work out just how to distribute the exact remainder of i3 shares on this basis as it must mean that 80k+ holders got more than their fair share or, if not, that there are 'left over' i3 shares not distributed (where are they?).

They clearly distributed small amounts of i3 shares in the initial distribution, so quite obviously there must be existing small holders who received them like it or not. Why have they been ignored now?

Who gave them authority for this prejudicial activity?

GWIK said they were distributing ALL the i3 shares to GWIK shareholders. The Initial Distribution was said to be 80%. The Final Distribution would be 20%.

Initial distribution rate 1.043:1000 (80%)
By calculation final distribution should be 2.086:8000 (20%)
But final distribution only 1:8000. Why the shortfall?

GWIK received 3,475,000 i3 shares.
They initially distributed 80% (=2,860,000) which would leave them holding 715,000 i3 shares.
The final distribution was 355,000 i3 shares, "its entire holding".

That would appear to leave 360,000 i3 shares unaccounted for.

[andrbea] 04/9/2017 13:27

basic entitlement & excess option ongoing (open offer) on gwik shares, closing date Sept 11

[showme01] 05/7/2017 21:32

bestdeal. I've been in communication with 2 ex GWIK directors whom I have met (Cam and Jaap) and one current director. It's all looking very good both with i3 and Cora Gold. All 3 hold shares in GWIK and are very positive but also share the frustration in this dragging on but the important thing is it's happening. Have you seen GWIK website update.

[bestdeal1] 05/7/2017 21:28

3 changes of the float date on the stock exchange. have to say from an outside perspective that look like either incompetance or somethinmg is not going to plan.

[youngbaz] 30/6/2017 10:53

well let's hope so - seems to have been a very long time!

[i like trees] 30/6/2017 09:30

Yes. IPO if not today will be soon.

[youngbaz] 30/6/2017 09:17

So - Q2 ends today!

Still all quiet on the Western front? Anyone heard anything further .... anywhere?

[pendooman] 25/5/2017 15:54

Hopefully bestdeal this pans out like Echo energy.

[bestdeal1] 25/5/2017 14:50

check out the Glenwick company site M8, tells you there.

GWIK holders will get some I3 shares once they float, how many not known yet. GWIK looking to re float on AIM once the Cora gold deal is done. Slated for Q2

[pendooman] 23/5/2017 05:53

Hi, just wondering if anyone has heard or received anything about what will happen to our shares which we hold in GWIK, has anyone here know what is happening.
I thought we was going to get some shares in i3 and some in the Cora gold but nothing has been said.
There's no clear understanding once they came off Aim's

[borisdog2] 10/5/2017 11:17

i3E floating this month

[currypasty] 06/3/2017 12:41

where is i3 board? ive gone for i3 pre ipo direct, so wondered when it will list

[showme01] 05/3/2017 21:59

A 50% discount to the i3 IPO price. Check the i3 board. Very experienced at running sucessful oil companies before the collapse in oil.
Any GWIK holder will make good profits from i3 and then there is a possible and now looking more likely RTO with another gold asset.

[red army] 05/3/2017 13:57

I intend to hold mine as there is potentially more upside than downside given the negative aspects of the board.

[soggy] 31/8/2016 06:20

RNS - WEll, today's the last day to bail out before suspension. I would expect to see the share price drop. And if they haven't managed a deal in 6 months it's delisting time.

And we all had such high hopes... I say, 'we', but as there hasn't been a post on here for a couple of weeks maybe I'm the only mug left still holding some shares!

[apfindley] 18/8/2016 09:42

You've got a LONG way to go to reach Biggibbon and Belcourtoi's pumped up price again. Where are their promises and supposed Insider knowledge now, eh.

[thisidentifiesme] 17/8/2016 09:21

News on route. Strap in lads.

Mopped up at these prices.

Going to be blue

BOOOOM time

[oilbuy] 12/8/2016 08:13

Good volume with large buys. Strong day ahead.