Octagonal Share Discussion Threads

[dave4545] 13/8/2021 10:50

Think I would leave mind around 1p, well below NAV but happy to recover something and move on but would anybody else want to take the risk buying it at 1p I doubt it

[a1samu] 13/8/2021 10:46

Yea, I would be a buyer @.25p for I cannot resist a bargain!

[dave4545] 13/8/2021 10:18

Gunn holds over half the stock.

Whatever cash is left should be divided between remaining shareholders and we get bought out and can move. Leave Gunn with the company but no cash.

[a1samu] 13/8/2021 10:16

Mention of a share buy back program is also positive.

[dave4545] 13/8/2021 10:12

Problem with a matched bargain service is trying to find somebody who wants to buy these shares.

I can see it like Sets with buyers going 0.25p and sellers at 1.5p and nobody wanting to budge.

[a1samu] 13/8/2021 10:04

Great. The covering letter is also positive about the progress of establishing a matched bargain system!

[the explorer] 13/8/2021 09:49

Yes, saw that although the covering letter also said "Subject to liquidity, capital adequacy and normal working capital considerations, once Octagonal has published its audited group accounts, it is the Board's intention that Octagonal will continue to maintain its annual dividend policy"

[a1samu] 13/8/2021 09:27

I just received this morning, a copy of the GIS accts to 31.3.21 showing no dividend on page 2 saying " The directors do not propose to pay a dividend in respect of year ended 31 March 2021."

[29palms] 09/8/2021 23:00

Like I have previously stated ...nothing more than Modern Day Outlaws.

From GIS accounts at Companies House-
Remuneration to the highest paid director - £557,780 prob John William Gunn
Cash at bank - £6,280,643 circa 25%+ yoy

Still no mention from OCT regarding "Matched Bargain" facility to trade OCT shares.
I wrote my holding off on 21st Jan 2021 on AIM Cancellation

..once again, nothing more than Modern Day Outlaws and I am patiently waiting with interest for the update/outcome of the might of the SEC coming down on them.

[truckle1] 01/8/2021 21:30

I don't think Gunn will want to return to the market - too much scrutiny and frankly hard work. He will build up the EBITDA and sell with all that cashflow to a third party.

[dave4545] 01/8/2021 21:08

Yep, best to go in thinking it's a total write off.

The only thing going for us is dividends, if Gunn wants money out he has to pay a dividend which means we get a dividend.

I wonder if they will return to the market if the SEC thing gets cleared up even with a massive fine.

[festario] 01/8/2021 16:28

Fat chance of that, but yes, fingers crossed.

[dave4545] 01/8/2021 10:16

Thanks Bedbel.

I'd be happy if Gunn just bought us out for a fair price and we can move on.

[bedbel] 01/8/2021 10:00

Gentleman,

The AR is from GIS, it is not from Octagonal.
They paid a doubled dividend to Oct, maybe to make sure that Oct can pay the same dividend this year.
In note 25 they state they made a provision of only $1,000,000 for the SEC action. Even the auditor makes no mention of it, so it seems business as usual.

So we have to wait for the final outcome from the SEC case and probably the ongoing business will be a lot less profitable. I think Synergis will be written off.
But after all it does not look that bad.

[dave4545] 01/8/2021 09:21

"day of reckoning"

I'll save others the bother of checking but I went through both Hargreaves and iii and both had their 0.1p dividend paid in mid Jan as promised by the company.

Now that is £568k as 568 million shares in issue.

But according to these accounts £1.2 mil has been paid, lets assume the £32k extra is admin charges they are saying they have paid another 0.1p but there is nothing in either account.

Very very dodgy this.

[truckle1] 01/8/2021 09:12

There will be a day of reckoning.

[festario] 01/8/2021 02:30

The Directors do not intend to pay a dividend in respect of the year to May 2021.Despite an increase in revenue of 46% ?So, there is no point in holding these shares, nor is there a mechanism to sell them.This appears to be the biggest con job I've ever come across.

[dave4545] 31/7/2021 21:00

Something is not right ?

Section 11 dividends says £1.2 mil has been paid in 2021.

Well that is 0.2p per share

I got that 0.1p in January but will total shares in issue under 600 mil that is half of what they are saying. I've just logged in my Isa just to double check that another dividend has not been paid and there is no second dividend.

Have I made a mistake reading the PDF ?

[bedbel] 31/7/2021 20:43

Annual report GIS
Interesting reading

[truckle1] 07/7/2021 12:22

Still no news on the SEC?

[epo4eva] 07/7/2021 11:47

It's under Octagonal Limited companies house.

[epo4eva] 07/7/2021 11:46

Has anyone seen the list of shareholders on Companies house in the latest conformation statement.
It looks like Pershing nominees or holding all 326,755,310 of Gunns shares.

[truckle1] 19/6/2021 11:10

Does anyone have a date for the trial?

[festario] 19/6/2021 10:27

That's about the ratio I work on.The latest of several write offs for me.Frustrating to see it sitting there reminding me in my trading account.However, is a final dividend not due to us around now?