Octagonal Investors - OCT

Octagonal Investors - OCT

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Stock Name Stock Symbol Market Stock Type
Octagonal Plc OCT London Ordinary Share
  Price Change Price Change % Stock Price Last Trade
0.00 0.0% 1.00 01:00:00
Open Price Low Price High Price Close Price Previous Close
1.00 1.00
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Top Investor Posts

festario: I never had the chance to vote, Interactive Investors never set up the corporate action.
gary1966: Festario, It will be if private investors just give up at the first hurdle. Have you contacted them to ask them why they haven't notified you of the corporate action and what are they going to do to make sure their clients can vote in a timely fashion? Instruction to vote must be emailed before 11am on Monday. Still plenty of time if they pull their finger out. Is there any reason you didn't contact them as soon as the RNS detailing the timetable was announced?
wetpantz: Maybe I'm being too optimistic but the reasons for delisting are not unreasonable. Being listed on AIM doesn't offer investors much protection from being fleeced by dodgy management in any case. The company cannot currently buy back shares so would need approval for this before setting out a tender offer. The timetable is a bit short notice and could have been communicated better. If the dividends continue I'm happy to hold the unlisted shares. JG could dilute out minority shareholders by issuing new shares but he could do that as a listed company anyway. He'd have to pay far more tax if he chose to hike his salary vs increasing dividends. I would be annoyed if I held the shares in an ISA though as they would need to be sold.
grahamwales: John Gunn recently won a vote on INSP, as someone was trying to get on the board there to find out what he was up to. He already knows he is going to win this battle so pointless fighting it. Best to move on and try and forget it otherwise it will eat away at you. The guy knows the system and has stole money from private investors and will get away with it.
johncasey: i noticed alot of investors are buying into his other company GUNSYND before the Rincon float on monday on the ASX market...seems strange timing by Gunn..is he trying to put folk off buying gunsynd?IF RINCON rockets sunday evening/monday then gunsynd will follow.dont forget they are just 10km from greatlands haverion find
terminator101: Doesn't just happen on AIM. Have a look at ALGW, ICON and BigDish which are all on the Main Market, yet their Directors are just as bad as Gunn. At least AIM provides a little protection to investors by requiring a Nomad that at least scrutinises some of the waffle that is put out to the market.
terminator101: Fatty boy Cornish was asleep. The exchange should have suspended trading under rule 40 to protect investors. 40. The Exchange may suspend the trading of AIM securities where:- trading in those securities is not being conducted in an orderly manner;- it considers that an AIM company has failed to comply with these rules;- the protection of investors so requires; or- the integrity and reputation of the market has been or may be impaired by dealings in those securities.Suspensions are effected by a dealing notice.
terminator101: Quite shocking what Gunn has done here. To claim that he has no immediate need to raise more capital and therefore doesn't want to stay listed is a total cop out. The whole point of AIM is to raise capital for early stage companies. Investors take a risk on those in the hope that ideas can be turned into cash making machines. So its high risk for high reward. Letting Gunn take this private as soon as it's cash generative is a total kick in the teeth for investors, but also totally undermines the market.
johncasey: Delisting from AIM Listing on a public market can be a part of the corporate story where companies see real growth achieved as a result of having access to the capital markets, an increased shareholder base, access to increased liquidity, the opportunity for diversification and an enhanced corporate profile. For some, delisting may also become part of the lifecycle. Delisting is the process used to describe either: a company choosing to leave one of the main markets and operate in the private domain; or a company moving from one market to another (for example, moving from AIM to the Official List). The rationale for initiating this process is different in each of the scenarios noted above and is looked at in greater detail below. A description of the process to delist from AIM is set out at the end of this article. Delisting from the markets altogether A decision to delist from the markets completely may be taken where the original rationale for listing is no longer relevant. Delisting may be a consequence of the company coming to the market too early buoyed by VCT capital which has since diminished, or of market conditions or lack of interest providing little or no appetite for its shares. Companies at times of low liquidity and restricted access to the benefits of a listing may find the cost of maintaining a listing, retaining advisers and complying with regulatory requirements administratively burdensome and not cost effective. The decision to delist may become an appropriate course of action allowing the company to reposition itself in the market place or unburden itself of costs and inconvenience which no longer generate sufficient benefit. Moving to the Main List The departure from AIM can often be part of a bigger success story where fast growing companies seek to move to the Official List in order to access a greater pool of capital, attract a wider investor base and improve their image as a more established investment proposition. A company must be accepted as being eligible for the Official List by the UK Listing Authority following which it must apply for admission and trading of its securities on the Official List. The process is not dissimilar to that which the company will have gone through when seeking admission to AIM, although the disclosure requirements are more stringent. The cost and expense of preparing for a listing on the Official List and the need to comply with strict corporate governance principles is high but may be mitigated by the benefit of attracting new investors and the prospect of increased liquidity. The Delisting Procedure Rule 41 of the AIM Rules sets out the procedure for delisting. In summary, a company that wishes to cancel the right of any of its trading securities must: notify the market through a regulatory information service of the proposed cancellation date; notify the London Stock Exchange (the “Exchange̶1;) of its intended cancellation and its reasons for cancellation including its preferred cancellation date; and obtain shareholder approval. The notification to the Exchange should be made by the company’s nominated adviser and should be given at least 20 business days prior to the intended cancellation date (the 20 business days’ notice requirement is a minimum). Any cancellation of a company’s securities on AIM will be conditional upon seeking shareholder approval in general meeting of not less than 75% of votes cast by its shareholders present and voting (in person or by proxy) at the meeting. The notification to shareholders should set out the preferred date of cancellation, the reasons for seeking the cancellation (for example annual fees to the Exchange, the cost of maintaining a nominated adviser and broker, professional costs, corporate governance compliance, inability to access funds on the market), a description of how shareholders will be able to effect transactions in the AIM securities once they have been cancelled and any other matters relevant to shareholders reaching an informed decision upon the issue of the cancellation. Cancellation will not take effect until at least 5 business days after the shareholder approval is obtained and a dealing notice has been issued by the Exchange. It should be noted that there are circumstances where the Exchange may agree that shareholder consent is not required for the cancellation of admission of a company’s shares, for example (i) where comparable dealing facilities on an EU regulated market or AIM designated market are put in place to enable shareholders to trade their AIM securities in the future or (ii) where, pursuant to a takeover which has become wholly unconditional, an offeror has received valid acceptances in excess of 75% of each class of AIM securities. The company’s Nominated Adviser will liaise with the Exchange to secure a dispensation if relevant. Download this Guide Now For further information on delisting from AIM contact our legal department on 020 7583 8304 or by email to Liam O’Donoghue, liam@oneadvisory.london This note does not constitute and should not be construed as legal advice. Specific legal or other appropriate professional advice should be taken before acting on any of the topics covered
elsa7878: FWIW: (I have no financial interest) Overall, it seems like the odds are stacked against retail investors when companies delist even if there is value left within the business. Share prices tend to plummet at the point when a company announces its intention to delist. Investors all rush for the exit to claw back any money before liquidity disappears. Deciding to sell shares in these circumstances is a tough one to make but might ultimately be the difference between salvaging some value from an investment that has not worked out and receiving nothing at all.
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