|I have forgotten all about LATE but interesting the Rowland's connection as I have just finished reading an article in the FT on Rowlands and Falkland Islands Holdings-in which I have no interest.|
|Jonathan Rowland's family muscled in around 2005 and made an offer which was just enough and better than the alternative of being a minority shareholder in an unlisted company. Probably made zillions knowing our luck.|
I have no info for you but just to say that i lost so such money on Ofex companies, but LAC was one of the few i ever got a profit from. A fund raising comes to mind.
Edit; i have just noticed i said the same as the above in a post so many years ago.
|Thought of Latitude this evening for the first time in a long time.
From my post 965
"Wonder what has happened to LTR's old assets"
Has anyone kept tabs on things? My memory of events is a bit hazy now - but do remember feeling that we had been ripped off.|
|"I lost more than i ever made there "
I'll drink to that!
The city spivs were queueing up back then to part people from any money they had made from privatisations etc by floating useless companies run by people either useless or bent.
Jabadaba, LTR still seem to be registered in UK. Worth a couple of quid to get a report from Companies House. Maybe a shareholder list and see if you can find a buyer.
Edit Had a look this morning and it looks like LTR been liquidated. Maybe something for you if the greedy ones didn't empty the trough first.
|I had always wondered what had happened to LAC !. They were one of the few Ofex companys i made money on. I lost more than i ever made there and half regret ever finding Ofex now Plus Quoted.|
|I am still sitting on 400,000 shares of Latitude Resources, which are now showing as worthless in my nominee account. Am I the only one who did not accept the offer?|
|"Will keep pushing regulators and see what drops out from the tree after a good kicking."
Hello John and fellow shareholders
The best part of 2 years have now passed.
I assume that there is not and there is not expected to be anything to report.
Wonder what has happened to LTR's old assets.|
I had high hopes for it too - my bullish comments at general meetings, in press releases and on the phone were not smoke and mirrors. The Company had 3 or 4 points where it was on the verge of being able to do something really special, but some idiot always seemed to peek out from round a corner and derail things. I found that in a public company, even a small one, there was always a but.
That is whay I work for one shareholder in a company where the only buts are "but is it legal?" and "but is it within the scope of my contractual obligations?". If the people I do business with waste their resources, it aint my problem; if they waste mine, I invoke the termination clause.
Will keep pushing regulators and see what drops out from the tree after a good kicking.
Merry Christmas all
|Thanks Rickus beginning to get a bit quesy about the delay|
|The proceeds were added to my TD Waterhouse account yesterday.
Have been invested here since, I think, 2001. Had high hopes at some stages.
Only further hope is for some success in JM's activist endeavours. Good luck with it John.|
|This from the Nopv 17 RNS suggests to me you get your money within a fortnight of sending your shares in
Settlement of consideration
Settlement of the consideration due under the Offer in respect of acceptances, which have been received and are valid and complete in all respects, will be despatched by first class post (in the case of certificated holders) or credited to the relevant CREST account (in the case of uncertificated holders) as soon as practicable. Settlement of the consideration in respect of further acceptances, which are valid and complete in all respects, will be despatched as soon as practicable and in any event within 14 days of receipt.|
are you still looking for copper and gold in chile?
i dropped by to interview you eight years ago, if you remember....
The offer was extended to the 10th, you would expect to get the cash on Xmas eve, unless it is extended further.
|Have any of you actually received the cash in your account yet??..not sure if my brokers are being inefficient but they do not appear to be paying within 14 days|
I am in the process of sending this email:
To all my valued contacts
As those who have been reading my missive, and those who have logged onto the LTRaction.com
website, will know, I have been and continue to be, bitterly opposed to the Clos du Mesnil offer for Latitude Resources plc.
However, although the offer is an outrage, my personal take is that to be a minority shareholder in a company completely controlled by Clos du Mesnil would be worse.
I am not licensed to give investment advice, and will not do so. It is for your directors to advise you on the merits of this offer. However, there is nothing to stop me telling you how I intend to respond to the offer, whilst noting that this is not investment advice.
I have decided to accept the offer and will do so in the next week.
Despite this, I will continue to exert pressure on regulatory authorities and others with a view to enabling the shareholders of Latitude to obtain some measure of civil redress. I would urge all readers of this missive to log onto
and to register complaints with three regulatory authorities and, if UK resident, with their MP.
A random musing.
Something I have been doing this evening is reorganising my LTR filing system.
The following is copied from the LTR AIM Prospectus 2005
Conflicts of interest
Certain of the directors and officers of the companies in the Group also serve as directors and/or
officers of other companies involved in natural exploration and development and consequently
there exists the possibility for such directors and officers to be in a position of conflict. The
Group expects that any decision made by any of such directors and officers involving the Group
will be made in accordance with their duties and obligations to deal fairly and in good faith with
a view to the best interests of the Group and its Shareholders.
I draw your attention to the second half of this para.
|As a complete non expert, my understanding is that it is X (I would guess 14 or 21) days after the offer closes. You might need to read the takeover code to find the number - good bloody luck - my recent reading needed several colours of highlight pen and a hard copy to follow the cross references. So, probably after Christmas, but in time to pay the December credit card payment LOL.
I tend to agree with your POV vs your MP, but then I would, wouldn't I? My guess is that you aren't in a swing seat!
|Response received from my MP - inappropraite for him to get involved but feels I have done the right thing contacting the FSA who are more than capable etc etc.
Not sure I see it the same way|
|Original post 950 - courtesy of NewsMon
"Latitude Resources (formerly Latin American Copper on OFEX)
I know I shouldn''t be asking this question, but anybody know when we get our money? (ie. the 4p) ASAP would be nice, but the RNS gives no info (that I could see)"
I've been wondering about the date too.|
Excuse my absence, was in the mountains looking for gold.
Adam, it seems unlikely to me that legal counsel would be of much use today. If a regulatory body finds against either Rowland or the other directors; any advice that I receive today would need to be re taken in the light of that event. Conversely, if not, any competent legal advisor would tell me that there is no chance of redress.
I am aware of at least three MPs who are taking an interest in this. Whilst we may have to agree to disagree on the value of the press, an MP asking questions helps tip the priority scales in our favour.
The LTR tax losses have been consumed to offset the trading profits on the plc's share portfolio. From the balance sheet, we can see that net assets are 5.38p per share.
Anyone know what dcomd99 had to say?
|>The best way to keep the regulator's interest up is publicity and MP pressure
I doubt it.
My MP R.H Joan Ryan wrote back and noted that I had written to other agencies, and to keep her informed, which I will. She's very pro-consumer
I still think you should take legal council.
How much are the LTR tax losses worth?|
A question I have asked myself when they went over 50 and 75%!
In theory, if they are the subject of a preliminary investigation by a regulator, and that regulator finds something, they will investigate further.
However, if Mr Rowland were to explain that he is inexperienced in these matters and that anyway he is willing to up his bid, the regulator may decide that it is better to spend his limited resources on people who are stealing billions rather than a "mere" 2.7M.
The best way to keep the regulator's interest up is publicity and MP pressure.
So, my goal is to pressure the regulator to pressure Rowland to give the shareholders what is theirs. There is no certainty that this will be succesful, but if I just sit around feeling angry, there is certainty that it will be to no account.
As for embarassment, that is a task which I suspect is beyond my modest means.