Natasa Min Share Discussion Threads

[daytraders] 17/8/2011 08:59

HugePants- i know what your saying, but it would be like 21p off of the then 57p sale wouldunt it ? anyway cheap how ever you look at it i suppose, maybe it was not meant to be marked down, maybe the payment was to make the nav more right ?, but it did say in there rns that the share price would be adjusted on the 17th or to that effect, either way all good i suppose.

and the shares will be quoted ex-capital repayment on AIM on 17 August 2011.

[jay083] 17/8/2011 08:52

HP, still - very surprised not to see an initial mark down

[hugepants] 17/8/2011 08:50

Daytraders - 17 Aug'11 - 08:15 - 826 of 829

wow, cant believe it, sale price should be like 36p, they forgot to make adjustment it seems ? or am i missing something.


But if it went to 36p the discount to NAV would be something like 70% whereas before the distribution it was about 45%. (based on a 105p NAV). Remember there is also the UEP stake which is currently worth about 25p.

[jay083] 17/8/2011 08:35

hope so.. cos i'm out

[horndean eagle] 17/8/2011 08:18

Its official as I checked the LSE website and there is a marker next to it. Sell now given the chance. Worse that can happen is the trade is reversed.

[jay083] 17/8/2011 08:16

thats how i understood daytraders

[daytraders] 17/8/2011 08:15

wow, cant believe it, sale price should be like 36p, they forgot to make adjustment it seems ? or am i missing something.

Accordingly, the record date to determine shareholders entitled to participate in the capital repayment will be 16 August 2011 and the shares will be quoted ex-capital repayment on AIM on 17 August 2011.

[daytraders] 16/8/2011 12:44

and while we lent them the money we loose interest on it, let alone get interest back off of them.

[adam] 16/8/2011 12:31

Sent to Strand Hanson


Dear Sir(s)

Re: Natasa Mining - Issue of debt

I am a shareholder in Natasa Mining ("the Company") of long standing

On the 29th June 2011 an announcement by the Company was made on the London Stock Exchange's regulatory news service that they were to make a secured loan of $6,827,838.50 to Murray Morgan Investments Ltd ("MMIL"), a related party, on a non-interest bearing basis.

The announcement stated that it was considered by the independent directors after consulting with your firm Strand Hanson Ltd that "the terms of the Loan are fair and reasonable insofar as the Company's shareholders are concerned"

I find this statement surprising as there is clearly no commercial benefit to the Company for making the loan, whereas the company is clearly exposed to the risk of default. It does not appear to me that the Company is acting in the best interests of shareholders.

I would be grateful to know on what basis you considered that the terms of the Loan are fair and reasonable as far as the Company's shareholders are concerned?

I would expect the decisions made by the directors of the company to be in accordance with their fiduciary duties and, where consulted, that the Company's Nominated Advisor should ensure this is the case.

What checks did Strand Hanson make to ensure that shareholders were not exposed to undue risk?

As there is no potential commercial gain, what level of risk did Strand Hanson consider would be fair and appropriate for shareholders to be exposed to in making the loan?

My concern is increased as I cannot find and mention of MMIL at Companies House. I therefore presume it is not a UK domiciled company. Did Strand Hanson consider this increased the potential risks to which shareholders would be exposed in making the loan?

The Company claims that the loan is secured on the shareholding that MMIL owns in the Company's shares. Did Strand Hanson confirm that the MMIL shareholding is unencumbered and free from lien?

I look forward to your prompt response on this matter.

Yours sincerely

[adam] 16/8/2011 11:54

They made a loan of to Murray for no interest at all. Apparently this was secured on the shareholding of Murray Morgan Investments



I do not see them listed as a major shareholder.

What is going on?

---
Natasa Mining Ltd
("Natasa" or the "Company")
Provision of short term loan
Natasa announces that it has agreed to provide a short-term secured loan of US$6,827,838.50 to Murray Morgan Investments Ltd ("Loan").
The Loan, which is repayable by not later than 27 August 2011, is non-interest bearing but will attract a drawdown fee of US$15,000. In addition, as security for the Loan, Murray Morgan Investments Ltd has pledged its shareholding in the Company and the Loan has been guaranteed by Mr C Kyriakou, a Director of the Company.
Murray Morgan Investments Ltd is a significant shareholder of the Company and accordingly, the Loan, as set out above, is considered to be a related party transaction under the AIM Rules for Companies. Mr Kyriakou has no connection with Murray Morgan Investments Ltd, however in light of the provision of the above mentioned guarantee, has taken no part in the deliberations in connection with this related party transaction.
Accordingly, the independent Directors of Natasa consider, having consulted with Strand Hanson Limited, the Company's Nominated Advisor, that the terms of the Loan are fair and reasonable insofar as the Company's shareholders are concerned. In providing its advice to the Independent Directors, Strand Hanson has taken into account the commercial assessment of the Independent Directors in respect of the transaction.
Enquiries:
Natasa Mining Ltd
Chrisilios Kyriakou, Executive Chairman
Telephone: [phone]
www.natasamining.com
Strand Hanson Limited
Angela Peace
Tel: [phone]

[daytraders] 16/8/2011 11:53

cheers lr2

[lr2] 16/8/2011 11:13

No. It's a capital repayment so will have no deduction of tax.

[daytraders] 16/8/2011 10:43

so will this be taxed like a dividend ?

[happygolucky] 16/8/2011 10:17

At last - confirmation that capital is to be returned by the end of August. Ex-cap tomorrow - will be very interesting to see just how far the price gets marked down at open....

[hugepants] 08/8/2011 21:48

I see no news yet on the 21p cash return.

In theory this market sell-off should be great news for NSN who have $50M to invest.

[lr2] 04/8/2011 23:46

Last trade was 90k at 57.5p.
Penultimate trade was 90k at 59p.

An exact four minute gap between the two trades.

[b2l] 04/8/2011 23:02

Last trade: 57,50
vol 180 k

[b2l] 02/8/2011 22:04

Chris ..... would you please hand over the monies ....

[jul1ano] 28/7/2011 13:09

I bought 2k of NSN a few years ago and it's now worth a few hundred. Should I cut my losses and sell now? The company sounds dodgy and like it's going down the pan, but any advice appreciated.

[b2l] 25/7/2011 06:36

"The Loan, which is repayable by not later than 27 August 2011, "
maybe after this date ..... ??

[lr2] 21/7/2011 09:56

No date set yet. Awaiting court approval.

[liarspoker] 21/7/2011 08:26

Has a date been set for the capital return ?

Sorry but haven't followed this one in a while though I still hold.

[jay083] 19/7/2011 11:06

Assuming a capital return of 21.5p and that the share price moves accordingly xd (31.5 - 41.5) on a 41.5 offer gives a mcap of £12.13m, by my calcs this would give a 55% discount to NAV exc UEP stake and a 64% discount to NAV including UEP stake!

[b2l] 07/7/2011 19:01

last year money was in my account 2 weeks after AGM
so i think end of next week may be ...