Octagonal Share Discussion Threads

[ochs] 17/12/2021 22:13

Nothing so far with HL - so has a divi been declared Gary1966?

[gary1966] 17/12/2021 15:57

Could people post when they have received their dividend please and whether they were holding shares via a nominee account or in certificated form.

TIA

Gary

[gary1966] 17/12/2021 15:31

Could people post when they have received their dividend please and whether they were holding shares via a nominee account or in certificated form.

TIA

Gary

[bedbel] 05/12/2021 11:18

Gary,

Very true, that's one of the reasons I'm optimistic.

[gary1966] 05/12/2021 11:15

Listing costs as well

[dave4545] 05/12/2021 11:12

Lots of cost cutting which is usually job losses but one person paid themselves over £500k !

[gary1966] 05/12/2021 10:56

Bedbel,

Remember those profits are after a lot of legal fees that won't be recurring.

[bedbel] 05/12/2021 10:26

Thank you a1samu.

A lot of information in the letter but no mension of a settlement with the Sec, although he hopes to update soon. That outcome is crucial because it can take a slice of the cashpile.
We see the remaining business is a lot less profitable but still viable.
Hong Kong is doing ok and probably soon a solution for Synergis.

I'm cautiously optimistic.

[dave4545] 05/12/2021 10:09

oh the old matched bargain system promised again nearly 1 year on.

[gary1966] 05/12/2021 09:59

a1samu,

Many thanks for taking the time to type the letter up. I am transferring my holding into certificated form so that I can receive the limited correspondence from the company.

Festario, personally I was very pleased and surprised with the 0.1p dividend. This is something they said they would do when delisting, that pretty much everyone, including myself, thought was a load of hot air to get the vote through. For once they were true to their word and I hope it continues.

[festario] 05/12/2021 04:02

Over £7m in cash and more being generated all the time.A very poor level of dividend based on that.However, they intend to make us grateful for any crumbs.

[a1samu] 04/12/2021 23:17

Letter from Octagonal received on 3.12.2021

HEAD OFFICE 200 Aldersgate Street, London EC1A 4HD
octagonal
Tel [phone]
Octagonal Ltd (“Octagonal") Shareholder update and payment of interim dividends.

02 December 2021

Dear Shareholder,

Octagonal is pleased to announce its unaudited half-year results for the six months to 30 September 2021.

These include the trading results for Octagonal's principal trading subsidiary Global Investment Strategy UK Ltd ("GIS").

Summary of Octagonal group's consolidated financial highlights for the six months to 30 September 2021:

Unaudited revenues for the six months to 30 September 2021 were £3.5m (September 2020: £4.79m)

Unaudited operating profit for the group for the six months to 30 September 2021 was £0.47m (September 2020: £1.86m)

The group cash balance as at 30 September 2021 was £7,113m (September 2020: £6.84m)

Earnings for the half year declined significantly as GIS exited certain client services following the complaint filed by the Securities and Exchange Commission (SEC) in December of last year. The past 6 months have be transformation as GIS sought to strengthen its compliance function including engaging third-party compliance specialists to review the business's current activities and client base, to identify any remaining material perimeter risks, particularly in connection with non-UK domiciled clients. GIS is confident that through that process it has addressed and mitigated those risks. GIS further undertook a cost cutting exercise to reduce operational overheads to compensate for the lower revenues.

The results represented in this update show the current known impact on revenue, but also reflect the considerable legal costs the business has had to meet in respect of the SEC's complaint. Separately, we hope that we will be able to update you in the near future on the developments made with the SEC.

Our HK subsidiary has performed well during the first half of the financial year, and we are optimistic that the business will continue its trajectory. We have made a key appointment in sales and relocated staff from London to support the activity. The HK office made a profit of £127,000 for the 6 months to September 2021 (2020: loss of £155,000). Net cash in this division stands at £613,300 in line with business needs and regulatory obligations.

As regards to Synergis Capital plc, following the COVID 19 pandemic, where there had been a considerable amount of uncertainty in the financial markets. This caused depositors to become more risk adverse and revert placing their deposits back to financial institutions that have been around for years such as established mainstream banks. This potentially had a negative impact on the challenger banks and start-ups similar to Synergis. Additionally, the lending markets had also been challenging where we had seen increased amounts of defaults on commercial and property loans over the period of the pandemic.

GIS has further been working with its regulator, the Financial Conduct Authority, to ensure that it has all the competencies and has the necessary liquidity to launch and maintain such a business during both normal market conditions and periods of stress. Synergis is at present undertaking an evaluation of both market conditions and the requirements needed to launch and maintain this business. It is further reviewing opportunities to work in partnership with a larger financial institution or to license or sell its operating systems.

Octagonal has recently published its consolidated results for the years to March 2021. A dividend of 0.1p a share has also been declared, with a record date as 3 December 2021 and pay date 17 December 2021.

Thank you for your continued support and Octagonal will in due course provide further updates, including in relation to any implementation of the "Matched Bargain" share trading facility that may enable shareholders to trade their shares amongst themselves and external buyers.

Yours faithfully,

John Gunn Chairman

[gary1966] 03/12/2021 11:08

Thanks a1samu, I assume you hold your shares in certificated form?

[bedbel] 03/12/2021 10:20

That's good news a1. By coincidence I have tried to call John this morning without succes. Can you give more details from the letter? Any news of the AGM?

[dave4545] 03/12/2021 10:13

Woo hoo in 20 years time if I'm still alive I'll have my money back

[a1samu] 03/12/2021 10:07

Just got a letter dated 2nd December 2021, from John Gunn saying amongst others " a dividend of 0.1p a share has been declared, record date as 3 December 2021 and pay day 17 December 2021." Nice Xmas present!

[29palms] 19/11/2021 09:25

"During the year..... The highest paid director received remuneration of £554,317 (2020 - £432,118)"

Nothing but Modern Day Outlaws

[dave4545] 19/11/2021 08:51

What do they need to "review" when it comes to a dividend when cash has jumped to £7.5 million

Whatever the Sec result this business rakes in the cash.

[the explorer] 17/11/2021 12:03

Group of companies' accounts made up to 31 March 2021
This document is being processed and will be available in 10 days.

Registered office address changed from 2nd Floor 2 London Wall Buildings London EC2M 5PP England to 200 Aldersgate Street London EC1A 4HD on 17 November 2021

[swiss paul] 16/11/2021 13:16

Thank you Herald

[festario] 09/11/2021 11:46

It's on ADVFN, it's just called Octagonal Plc

[landay] 09/11/2021 11:44

Which is the other board? I cannot find anything on London South East.

[dave4545] 09/11/2021 11:41

I hope they force a sensible outcome for you festario

I did have a huge holding but when the price recovered to near 1p before the delisting I reduced and took the hit but it would still be nice to get back what I paid for those shares I have left.

I seriously do not know how people like Gunn how just go about their normal life every day when they do this to so many people.