Octagonal Share Discussion Threads

[quazie12] 15/1/2021 15:14

Im the same nothing yet

[beauuk] 15/1/2021 13:25

I've still not received my divis (2 accounts)at HL.
Has anyone at HL had their divi yet?
Or should I be concerned?

[gary1966] 14/1/2021 10:44

If it wasn't for SEC and delisting business then I would have said 5p. Now it is a buyers market which is exactly what they want and not enough info out there to make an informed decision.

[mick1909] 14/1/2021 09:37

What would you say fair value for an offer is 1.5p a share?

[ochs] 14/1/2021 08:17

On the surface those half year results look great and would normally have dave4545 moaning repeatedly that the shares are undervalued/overlooked/everyone else is crazy not to buy them. However they've not reached a settlement with the SEC yet. Despite saying they'll stop all the business the SEC were 'unhappy' with they may have to pay some sort of fine - and we don't know how much that'll be yet, so the £6.84m cash pile could reduce significantly. Plus there will be legal costs incurred.

We also don't know how profitable the ongoing business will actually be? Plus we will have no say in what Gunn eventually decides to offer shareholders. Finally our hands are tied as the shares have been suspended since the xd date and will soon be de-listed!

[epo4eva] 13/1/2021 21:24

This must be worth 3p plus after those results today.

[quazie12] 13/1/2021 16:48

Is anybody on here an expert in RNS statements. I take very strong issue with some of the content in the update on 11th January. It states:It remains the intent of the Board to offer shareholders a scheme to buy back shares from those who wish to dispose at fair market value

[quazie12] 13/1/2021 16:42

I contacted HL and they did it no problem

[ochs] 13/1/2021 14:49

As far as I know once delisted they can't be held in an ISA. (SIPP is ok, but ISA not - that's a quirk of HMRC rules).

HL have already said that once delisted they'll have to move the holding into a Fund & Share account.

[gary1966] 13/1/2021 14:39

Decision about buyback not until after the year end accounts per the RNS on Monday and so no surprise that nothing said today. My concern is what they regard as a fair market rate to buy back at and how much cash above regulatory capital they will have by then. I also want to know how they are going to be able to structure this so that they can still be held in an ISA and any future dividends being paid into the ISA.

[29palms] 13/1/2021 13:25

....and no mention of any buy back.
As commented yesterday - not to be trusted, Modern Day Outlaws.

[ochs] 13/1/2021 12:14

All you had to do was send them a secure message, would have taken you less than 10 mins! I guess many ii holders also did nothing :(

Perhaps Roger Barby didn't vote either?

[festario] 13/1/2021 12:06

I never had the chance to vote, Interactive Investors never set up the corporate action.

[quazie12] 13/1/2021 12:03

Yes it is % of votes cast

[quazie12] 13/1/2021 12:03

Personally I just don't understand minority shareholder apathy. Assuming the non board member who owns almost 10% has voted "for" today, even if you reverse his vote to an "against" instead, that would have resulted in a 81%/19% and means if only an extra 30m shares had voted against then the resolution would have failed.

[dave4545] 13/1/2021 12:01

I never knew that ?

So it's just the % of those that vote matters.

When you said 93% I was thinking 500 mil shares voted for the delisting and again I was how the hell is that possible but you have answered that question.

[quazie12] 13/1/2021 11:47

Yes from a total of 568m shares issued 397m voted in favour of delisting and only 33m against. So less than 6% of the shares in issue bothered to vote against. Of the votes actually cast it was 93% for and just 7% against.

[29palms] 13/1/2021 11:35

Nothing more than "Modern Day Outlaws"

[dave4545] 13/1/2021 11:26

92% in fav of delisting ?

Is that correct !

Hopefully they will do the honourable thing and give all holders 2p or more
for their stock.

[quazie12] 13/1/2021 11:21

A total of 14 participants which included John Gunn, Nilesh Jagata and the nomad. NJ the only one who spoke.

[quazie12] 13/1/2021 11:20

Agm was pathetic. Chaired by CFO. All resolutions passed so that was the entire substance of the meeting, him reading out votes for and against each resolution. Basically everything was carried roughly 96% for and zero against. John Gunn said nothing, there was no discussion about anything and due to it actually being impossible for minority shareholders to table questions in advance none were asked

[gary1966] 13/1/2021 11:19

Jeez, talk about turkeys voting for Xmas. Mr 9% either didn't vote, which I struggle to believe when you own that much of the company, or he was swayed somehow. I have to assume he can afford to lose all the money he invested here, sadly most of us can't.

RIP

[quazie12] 13/1/2021 11:10

92% in favour of de listing