Independent Research Share Discussion Threads

[pooky100] 05/9/2008 16:42

Under the AIM Rules, it is a requirement that cancellation of admission to trading on AIM must be approved by not less than 75 per cent. of shareholders voting in general meeting

Can anyone clear this up? This sounds to me like it's decided by those actually voting at the meeting, as opposed to numbers of shares represented. can this be true?

[gimme sunshine] 05/9/2008 16:15

there is a logic in that.

and I bet there will be some interest as this gets closer the delisting. not everyone likes gambling their money away on the AIM either.

I won't be as I'm suffering big time at the mo, but a few savys and friends of mr s probably will be in once the peole who want out are gone cheaply

I won't sell as I do not see the point

and people may feel different after the agm.

[lord gnome] 05/9/2008 15:27

You definately are mad Fin Man - throwing good money after bad is no way to invest. I've written off what remained of my 'investment'. Put your money in something that has a fighting chance of making a few bob for you.

[fin man] 05/9/2008 15:25

Re:potential future sale - As my shareholding is shrinking by the minute, does anyone know the likely cost of selling post buy-back with one of these matched-bargain firms.

Believe it or not I am thinking of making a small purchase to hopefully dilute my average price, and make this a medium term holding ! I must be mad

[fatfish] 05/9/2008 14:37

they sure are getting cheaper

[bsg] 05/9/2008 14:35

Taking a long term view it may be worth buying some ...

[scrapheap] 05/9/2008 14:15

another bet - will interims be out before the agm? I don't think so.

We now have a market cap of 0.8m at 3p mid, if we make the 1p then we'll have a cap the same as our annual ebitda. Annual turnover will be nearly 7x market cap.

If anyone is looking in from the company, thank you so much.

[scrapheap] 05/9/2008 14:11

it also looks like the BB will never reach 7000.

[fatso] 05/9/2008 14:05

then I might buy some more.
Seriously, the model is good ,Co in profit.
What can I lose? I would have blown it anyway.
Cushy private pension might be a better option for me.
So 200K at 0.5p please!

[scrapheap] 05/9/2008 13:40

Betting time - what will be the lowest ridiculous price that someone will sell for prior to delisting?

My guess is 0.5p

[scrapheap] 05/9/2008 13:25

and yet the charge made for them went up in the accounts.

[james 2] 05/9/2008 13:18

Over 3.3m of the share options were cancelled or lapsed.

As for the AGM I am gutted as I won't be able to make it - my financial year end is 26th September so day 1 of closing for me is the 29th !

[scrapheap] 05/9/2008 13:04

I'd love to think so but with the board wielding nearly 70%, they can and are doing what they like. I'm agog that buyers still exist it seems even though the p/e is sub 6 now (excluding the non-money options).

[fatso] 05/9/2008 12:39

Just bought 10K IIR at 6p. It might make a difference when the
roll call of shareholders is made during AGM against the nefarious
designs of the old Smithy.
Anyway, if there are any predators, they better start moving on this Co now.

[scrapheap] 05/9/2008 10:22

I really genuinely hope your ongoing faith is proved right James - as it might mean not all of my money has gone down the drain.

I personally have minimal hope/faith of any return in future now and fully expect to be diluted away in to worthlessness once we are off market or the business closed down (remember the ongoing concern issues) and phoenixed up next day as another entity with the same directors and having bought everything for tuppence halfpenny from the receivers.

On that happy thought, I'm off now, where's my umbrella?

[james 2] 05/9/2008 10:08

I would bet against that.

[bsg] 05/9/2008 10:07

This 200k they're 'saving', I bet that goes on salary increases.

[garbut] 05/9/2008 10:04

For what its worth,you can neither buy or sell online through TDW.
Im not a big holder like some of you other guys on here but I did
"Invest" 2K of my hard-earned which I have now consigned to the bottom
drawer.
If a company voluntarily delists then they should be obliged to purchase
your shares for at least the pre-suspension price.
Rant over.

[james 2] 05/9/2008 10:02

Who were the shenanigans as you suggest caused by :

From January 2008 senior executives have again been significantly
diverted, as a result of the replacement Nomad reviewing and adopting a
different position in respect of certain strategies previously adopted by the
Group and agreed with its Nomad during 2007, most particularly a scheduled
acquisition by the Group of the intellectual property owned by the Smith Trust.

There was already a schedule in place to buy the IP rights according to the above but the new nomad presumably put a spanner in the works, I mentioned before we didn't have the cash to pay for it when it was due for renewal last year but we should have issued shares - clearly the latter was not an option at the time.

[scrapheap] 05/9/2008 09:45

james - I'm sorry, I can't possibly agree with that last sentence of yours not after the shenanigans with the trust vs the company over the google money and the sudden exit from AIM after that, the contradictions in their statements for doing this and the timing with the LSE deal about to kick-off.

I'm prepared to bet Ledsham wasn't in favour of delisting and certainly the new NOMADs wouldn't have been as they'd only just taken on IIR and presume it was never mentioned as an option to them that IIR were thinking of - probably as they weren't.

[scrapheap] 05/9/2008 09:37

my point is you think they are bad now, just wait.

[james 2] 05/9/2008 09:36

fatfish - My understanding is they will provide a matching service, see the details & info on the jpjenkins website supplied yesterday as an example. Also if they do as well as expected I would expect to see a return in the form of dividends - I have only ever worked for 1 private company and there annual dividend reflected a very tasty return.

Also we are not alone in delisting as a number of companies have started delisting \ announcing there intention to for the very same reasons we are - there is nothing underhand in the actions of the board & smiths trust, that I feel certain of.

[gimme sunshine] 05/9/2008 09:31

corporate governance!

stop it please,..

ouch

just cracked a rib