Highway Capital Share Discussion Threads

[yogaboy] 27/4/2019 11:52

AGM on Monday. Interesting times ahead.

[yogaboy] 08/4/2019 16:55

It would seem there’s a deal in the wings, these figures are far too specific for any other scenario. I would hope the new shares are to be issued for an RTO, not simply to the majority / Board for relisting.

So my 1% might be diluted 5 to 1, the key question is at what price: nominal 2p should not be assumed. On balance, I would rather have dilution and relisting than suspension.

It feels like turkeys voting for Christmas, but there might be a stocking full of presents waiting :)

[phil1969] 08/4/2019 15:47

I'd like to think you're right nextlink but majority shareholders are in a position to issue themselves cheap shares and now not obliged to offer the same to existing long term private investors meaning they could issue the new shares at 2p to themselves if they wanted and if HWC returns to market at 15p where we left off. They are quid in, we get nothing.

Thats why existing shareholders should also be offered the chance to buy the shares at the same price as insiders.

I hope resolution 13 is in place to remove the legal hurdles and not to line insiders pockets and long term holders are still treated equally.

We already have 1.25m new shares issued at 10p for someone to make a tidy 50% profit if HWC comes back at 15p.

All this is irrelevant if:
1) HWC doesn't relist
2) HWC relists at 50p+ and everyone is a winner

[nextlink] 08/4/2019 14:53

I am no expert when it comes to the Companies Act.

I did not think there are any Treasury shares currently.
Which makes the 52 million extra shares the most relevant wording.

In any case as the Major Shareholders hold in excess of 75% of
the share issue, all Resolutions will pass.

Fingers crossed - whilst we private investors are the minority I
suspect we are afforded some protection by virtue of the Majority
shareholders holding in excess of 75%.

[phil1969] 08/4/2019 13:36

Read the second paragraph of resolution 13

It says gives directors the power to allot or sell treasury shares for cash WITHOUT first offering them to existing shareholders.

[nextlink] 08/4/2019 13:17

Resolution 13 if passed will allow the Directors to put aside the requirement to offer
new shares, up to 52 million to existing shareholders.
This authority to be valid until the next AGM.
If they were to execute an RTO this would be a necessary step.

That's my take on this.
Hoping they have a target in sight.
All this frantic activity suggests that they do.

[phil1969] 08/4/2019 12:56

By my calculations, most debt of any significance has been paid off leaving 1,250,000 of new shares issued by way of £35,000 worth of CLN's

Whats most interesting is the significant amount of borrowing over the last three months totaling £552,000 mostly with outside investors unconnected directly with HWC.

These lenders would be privvy to HWCs plans otherwise they wouldn't have lent such a considerable amount without security.

This money could be to cover some of the costs to get re-listed. Any rumours afoot?

[phil1969] 08/4/2019 11:59

Certainly looks interesting but what are your thoughts on Resolution 12 & 13?

[nextlink] 07/4/2019 22:48

Continuing Activity, suggesting a return to Market may be imminent, possibly
having already reversed into a larger Company.

Any move taking place at a date following on from the AGM on 29th April.

hxxp://highwaycapital.co.uk/wp-content/uploads/2015/09/Highway-Capital-plc-Notice-of-2019-AGM-FINAL.pdf

[yogaboy] 02/4/2019 16:37

I hope they are still available, kicking in when the share price reaches 150p :D

[phil1969] 02/4/2019 16:28

Whatever happened to DMHAre these options still available to DMHCOI don't see any mention of them in the latest RNSs24 October 2016Highway Capital Plc ("Highway" or "Company") announces the grant of an option to Daniel Mark Harrison & Co Pte. Ltd. ("DMH") to subscribe for 3,500,000 new ordinary shares of 2p each in the Company ("Ordinary Shares") at a price of 35p per share.The option is being granted as consideration for DMH providing its services to raise funds for Highway to execute one or more investments and seek resumption of trading of its Ordinary Shares on the Official List. The option granted to DMH is exercisable at any time until 20 December 2021 but only on the condition that the price per Ordinary Share, prior to any capital reorganisation, has reached 150p prior to the date of exercise.

[yogaboy] 02/4/2019 16:11

Of the large holders, only Szytko is on the Board, but that should be enough to reassure us that financing will be aligned with the interests of shareholders.

[nextlink] 02/4/2019 15:24

Yes forgot to mention loan holders with option to convert.
Not a lot of potential dilution and 10 pence is reasonable.
Given 75% are in the hands of Directors and close
business associates they would be shooting themselves
in the foot issuing vast numbers of shares.

[yogaboy] 02/4/2019 15:05

Quick work, thanks! There's another million and a quarter in the CLN at 10p, but still looks good.

[nextlink] 02/4/2019 14:54

Looking at the 2017 accounts published on 28th February.
Total shares in issue 9,590,201.
The five listed major shareholders hold 72.29%.
I assume they only list those five as holding above 3%.
Assuming Sanchoria Inv Ltd still hold 271,090 that equates to over 2.827%
So at least 75.117% in six investors control
Only 24.883% left for the rest of us, possibly less.
I doubt there are more than 50 private investors, probably far less.
Three of you posting today hold approaching 5% and I hold 0.62%.

[phil1969] 02/4/2019 14:32

I've kept our expectations realistic but hinted at the potential. It would be nice for everyone. We all deserve a bit of luck every now and then.

[crapcrap] 02/4/2019 14:19

oops, read the header incorrectly .

[yogaboy] 02/4/2019 14:11

90k, there are 9m in issue.Could be worth delving into a list of major holders, these might be quite tightly held.

[crapcrap] 02/4/2019 14:06

does your ex know she might be in for a windfall?
you never know, love might blossom again!

[phil1969] 02/4/2019 14:00

It's been in suspension that long I've been divorced and thru countless girlfriends since ?

[phil1969] 02/4/2019 13:59

Count me in for over 3% between an ex-partner and myself. Let's hope the news keeps flowing.

[crapcrap] 02/4/2019 13:43

i guess thats about 70,000 shares then.
you can add my 1% to that then!
shame your name's not Rodney

[crapcrap] 02/4/2019 13:40

I'm almost giddy with anticipation!

[yogaboy] 02/4/2019 13:40

Two and a half years since suspension, I had forgotten that I hold 1% of this puppy! :)