OK, I admit I'm baffled. Serious question for the more savvy investors.
Why would they issue 28 million more ordinary shares on feb 6th which are now admitted to the AIM market and then say it "reflects potential growth opportunities for the company?" Hum will cease trading on the Hum market in 2 weeks time. ?????????
Trader465? |
Thanks border the problem is i am starting to collect quite a few de-listing company shares POLY for instance, being one, so i will have a think about it. |
 jhpuk1 No, your shares will not become worthless, that's what the take over team would like you to believe. You will still be part owner of a private company but your shares will become difficult to trade if Hum is de-listed from AIM.
However, I agree that in the past investors in situations like this are expected to take it on the chin and walk away. IMO this is different. A glance at the discussion insights on here reveals that this has been an ongoing situation "A backdrop of turbulent investor sentiment". Exactly.
But not all the investors here are small shareholders and I believe the FCA now has some very positive information(some of it as a direct result of trader465) to work with. but as sid_b suggests "better to file a joint complaint."
You can contact the FCA as follows.
0800 111 6768
0300 500 8082 (free phone)
+44 207 066 1000 from abroad
Gov.UK go to the FCA web.site
e mail address whistle@fca.org.uk
AS trader 465 says "this has obviously been a well executed plan."
DON'T LET THEM GET AWAY WITH IT!!!!!!!! |
Still a bit confused with these shares, i have been informed by II that i must decide today whether to sell my shares or keep them, does keeping them mean they are worthless, please help. |
Best smoke a joint together in a coordinated manner
I doubt anything would come of a complaint, the BOD know a case would be difficult for small shareholders to prove and expensive to try.
Good money after bad? |
If shareholders want to complain, better to file a joint one together in a coordinated manner. |
With gold approaching $3,000 Mr Idrissa Nassa must be extremely pleased with his new gold mines, I would be. A deal well planned and executed by true honest gentlemen with minority shareholders at heart, a satisfactory outcome for all 👍 |
Furthermore, if Betts wasn't in collusion with FSJ as many eventually suggested, why would he have said, (Post 4549) quote:- "To put to bed any talk of being paid to write these reports and tweets I can categorically I say I tweet and write reports that are 100% true and factual." So many eventually thought the same as Diane Carberry, me and many others.
Sure FSJ, that's why you bailed out wasn't it? Or was it because you were getting hot under the collar about spreading "facts" that you knew were deliberately intended to entice investors as many suspected and eventually commented on? But THOSE posts were removed. Perhaps we will find out why now? |
Border Terrier It goes without saying that I wish I had listened to you . I admit to being mainly seduced by FSJ over on LSE years ago . of course I'm mainly to blame ,I went big for once and its compromised all my other sensibly proportioned investments . Was FSJ was more than just a useful idiot? and whilst it would do me no good I also wonder about Betts and collusion with FSJ. I know you never ever rated Betts but for him to move on seamlessly is akin to small companies who have gone bust and the next week asking for work with a renamed hat on as if they owed nothing. Despite holding my hand up the main problem is that this Aim market stinks. I wish we could have a proper go at Betts . |
I see thnaks boderterrier1; I haven't really been monitoring things as I have a small investment only.
So if i DON'T elect to take the cash for the time-being - and the deal goes through etc. - I suppose the end result would be the same. |
What is FSA, Food Standards Agency?
Due to the perceived regulatory failure of the banks after the financial crisis of 2007–2008, the UK government decided to abolish the FSA in 2013. Financial regulation was restructured and regulatory authority was divided into the Financial Conduct Authority and the Prudential Regulation Authority
As a mining company focusing on gold exploration and production, Hummingbird Resources PLC is not engaged in financial services or regulated activities that would require direct registration with the Financial Conduct Authority (FCA). |
I accept that this has been a complete rip-off as BorderTerrier says and it shouldn't be allowed and AIM is a casino etc etc.
However - with only a few hundred quids' worth left at 2.6777p, surely it's better to take the cash and call it a hard lesson learnt? |
One of my brokers IG accepted the offer with out consulting me. The actual decision was wafer thin and if they did it for all their clients without consulting them, they may just have triggered the 90% acceptance. I will be writing to the FSA because even thou IG replaced the shares, my shareholding would be registered as accepting the offer. I know a lot of people accepted the offer to preserve some cash, but at the very least on principle we should all be taking this up with the FSA. Otherwise you will NEVER be able to invest in small companies in AIM safely as we will be open to all and any corporate malfise, as the FSA is currently totally toothless. Its like an old boys club, getting paid at the expense of small shareholders. |
p@ You could, but I would speculate it wouldn't do any good. That's why often the vigilante option is the only way forward for some. Remember what happened to Bernie Madoff's relations? |
Can we ask the court to bypass the 90% acceptance rule,like they bypassed the aim takeover code? |
Notes to Editors:
Hummingbird Resources plc (AIM: HUM) is a leading multi-asset, multi-jurisdiction gold producing company, member of the World Gold Council and founding member of Single Mine Origin (www.singlemineorigin.com). The Company currently has two core gold projects, the operational Yanfolila Gold Mine in Mali, and the Kouroussa Gold Mine in Guinea. Furthermore, the Company has a controlling interest in the Dugbe Gold Project in Liberia that is being developed by joint venture partners, Pasofino Gold Limited. The final feasibility results on Dugbe showcase 2.76Moz in Reserves and strong economics such as a 3.5-year capex payback period once in production, and a 14-year life of mine at a low AISC profile. Our vision is to continue to grow our asset base, producing profitable ounces, while central to all we do being our Environmental, Social & Governance ("ESG") policies and practices.
For further information, please visit hummingbirdresources.co.uk or contact:
Geoff Eyre, Interim CEO
Thomas Hill, FD
Edward Montgomery, CD
Hummingbird Resources plc
Tel: +44 (0) 20 7409 6660
James Spinney
Ritchie Balmer
Strand Hanson Limited
Nominated Adviser
Tel: +44 (0) 20 7409 3494
James Asensio
Charlie Hammond
Canaccord Genuity Limited
Broker
Tel: +44 (0) 20 7523 8000
Bobby Morse
Oonagh Reidy
George Pope
Buchanan
Financial PR/IR
Tel: +44 (0) 20 7466 5000
Email: HUM@buchanan.uk.com |
It gets worse- |
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