Mwana Africa Share Discussion Threads

[jacks13] 15/9/2015 10:27

Have you any knowledge of this being done elsewhere, gfrae?

[gfrae] 15/9/2015 10:15

If the NOMAD were to discover,or suspect certain AIM rules were not being followed then they might resign, as presumably did Peel Hunt. If Cantor Fitgerald were to resign,and they were unable or uninclined to find another, they would be de-listed a month later.

[jacks13] 15/9/2015 09:46

gfrae, how would they go about delisting. I'm not asking this to be confrontational, I'll really like to hear an informed opinion on how this is to be achieved.

jacks

[gfrae] 15/9/2015 08:23

With a NOMAD they can raise £3.6m in a new issue on AIM. Which they need partly to pay off Kalaa.
They can always de-list at a later stage,if they do the shares would have negligible value,allowing the majority shareholders to buy the rest of the company cheaply and even the new shares at a fraction of the issue price.
Clever ?

[juju44] 14/9/2015 19:36

If they wanted to delist they could have easily worked it when the Nomad was in question. So they do not want to delist. When yanks stop their fraud in PM's and gold takes of so will MWA

[jacks13] 14/9/2015 18:40

I've taken up my rights and I wouldn't have done so if the fundamentals weren't promising. The price to book and the ev/ebitda are outstanding, always provided the share price eventually reflects this!

If the majority owners were of a mind to delist wouldn't they attempt this by a scheme of arrangement; needing 75% acceptance among holders excluding themselves?

[gfrae] 11/9/2015 09:24

Chinese companies on AIM have an appalling reputation of stitching up their investors. There are many examples.
Of course this one might be different ?
Fundamentals are probably academic here.

[ceaserxzy] 10/9/2015 22:24

I will not put new money in. If one is not sure, it is better to be cautious. After all if it does go up, at least it means my current holdings is going to be worth more.

The company has to be run better and leaner to first be cash flow positive and then make some profit. With the current commodity price this is a tough order.

The current management is doing the right thing to manage the cost as well as the CAPEX. After all even the Chinese don't have a bottomless pocket or willing to be a sucker forever to just put money in and see no return.

[fez77] 10/9/2015 22:03

Need to keep a very close eye on the share price for next 10 days. I just don't know whether to gamble on it or not. Dreadful feeling of possibly throwing good money after bad! In the long term I'm sure the Chinese economy will demand more minerals - but for the short term, who knows!

[ceaserxzy] 10/9/2015 20:47

Exactly, it is not like the Chinese robbed anybody. If it is such good value and anybody can manages better to get a great return, why don't anybody buy a bigger stake than the Chinese or even buy the Chinese out.

The truth is that this share has not made any return in the past 15 years or longer, so don't just always make a scene about the Chinese.

The Chinese has put a lot of money into this, without them maybe this has gone belly up a long time ago. They have a right to like us small punters to demand a return. Perhaps they are in for more longer term than some smaller punters who got upset just because the management don't say or do something so that they can make a quick buck.

This is a share having high risk, no matter if it is Chinese running it or not.

[gwr7] 10/9/2015 20:11

One thing I would add, if you don't take up your allocation, do not complain about the Chinese increasing their holdings.

[fez77] 10/9/2015 13:31

Thanks gfrae. That's a very difficult one to call without a crystal ball. The market may give us some indication by the share price either rising above 1p or remaining below it as we approach the deadline.

[trevorm2] 10/9/2015 12:27

Nickel on the rise!!!

[gfrae] 10/9/2015 09:52

It depends on how you think the Chinese majority shareholders intend to treat other investors.

[fez77] 09/9/2015 21:37

Any chance of some incisive comment from "those who know" (or "those who know more than me") as to whether we should be thinking of taking up this share offer or not? I am of course aware that the current price is lower than the offer price which clearly makes it somewhat unattractive at present. However any comment or sharing of knowledge would be welcome??

[gfrae] 09/9/2015 12:57

If you look at the RNS statements at the time of the "sale" its clear that Mwana did not believe he had sold his economic interest either.

[gwr7] 08/9/2015 09:10

You would assume something written in the Zim press is true? Their reporting standards are garbage.

[gfrae] 06/9/2015 20:28

Interesting,Caedwala that your Indy article says that Ning already has 29 % of Mwa shares,which I assume to be true,rather than the amount in the latest document.

[caedwalla] 05/9/2015 00:00

BNC board changes: hxxp://www.theindependent.co.zw/2015/09/04/cimg-tightens-grip-on-mwana-africa/

[trevorm2] 04/9/2015 23:39

Changing they name to ASA resource group plc. Mwana web page on their proxy form.

[tightfist] 04/9/2015 19:16

Caedwalla,

I have a different guess regarding the (temporary) shareholding reduction - Ning needed assured votes from an unrelated party.

I don't understand the advisor world, but I wonder how much depended on MW-W to secure and retain the new Nomad, Financial Adviser and Corporate Broker? And how does the non-Underwritten Placing fit within those new relationships?


Jacks13, I have seen far worse skullduggery than that......

[caedwalla] 04/9/2015 15:57

On the other hand, just to balance some of the doomsters, the Chinese have just declined to take advantage of a prime opportunity to delist. My guess re Mr Ning is that he had to substantially reduce his holding when he became CE to comply with the legal agreement signed when he first bought in to MWA.

[gfrae] 04/9/2015 14:50

A de-listed,company would trade at whatever price someone is prepared to pay. In the case of Mwa, I would think 0 plus 5% at the most.
It appears that the directors elaborate and well planned strategy,dating from at least last year's AGM is working like clockwork.
All of course facilitated by dodgy Non Execs and the Northern ambulance chaser, plus his badly advised (or stupid)supporters.

[jacks13] 04/9/2015 12:34

Thanks for the reply tightfist. I've had experience of holding a Chinese company that was taken private so I now understand what you meant.

jacks