Octagonal Share Discussion Threads

[dave4545] 19/4/2022 13:20

Should relist

[festario] 19/4/2022 12:22

That's an amazing let off, from such a serious charge.Now it just leaves me seething that we got delisted.Come on Gunn, get a special dividend paid, and then offer us a fair price to take these shares into your own hands.

[ochs] 19/4/2022 12:05

Great, well spotted. So those who said this whole SEC thing would mean the demise of the company were a little wide of the mark.

So that's about £77k for Gunn, and £770k for the company.

[bedbel] 19/4/2022 11:51

Apparently there was a final judgment on 22/03/2022 in the SEC case with a penalty of 1 million $ for GIS and 100,000 $ for John Gunn.


That should be good news because GIS already provisioned for that same amount.
I guess and hope an update from the company will come soon.

[quazie12] 07/4/2022 11:59

I see from Companies House filings that JG is wasting his time arguing with the former auditors re the content of their resignation letter. For goodness sake just grow up and sort your company's clearly chaotic internal problems. A disgruntled and shafted shareholder

[heraldomaha] 02/3/2022 22:16

Octagonal Plc seems to be a potential free cash flow machine. It’s only issues are that nearly 80% of shareholding is with 5 shareholders, who would all likely be considered insiders. The corporate governance is also well below what would be expected of a business with outside investors.

It has been run as if the founder is the only shareholder, which is completely inappropriate for minority shareholders.

[ochs] 02/3/2022 21:26

Then again if things were going so badly surely there'd have been no dividend? Mr Gunn is the largest shareholder, so it's in his interests to keep the company going.

[quazie12] 02/3/2022 20:01

Fair comment Herald. Personally this auditor resignation appears to me to be a very bad sign for all concerned. It would be a miracle if the company survives and thrives and we are actually bought out. It is extremely serious in financial services for a well regarded firm of Chartered Accountants to resign in this manner.

[heraldomaha] 02/3/2022 15:55

@Quazie12 - If the low ball offer comes to pass (as I predict), I have already had it documented with the FCA.

The complaint is that Octagonal Plc should have made a fair market offer to minority interest owners prior to announcing the de-listing.

How long I have to hold out to obtain a reasonable price is a key constituent to the rate of return on an investment.

[quazie12] 02/3/2022 15:31

Why would you manage to join the dots from an auditor resignation to a lowball buyout as if this is part of an overall strategy ? Anyway you cannot be forced to sell so why undermine your existing complaint ?

[heraldomaha] 02/3/2022 11:25

I have added this information to my outstanding FCA compliant.

I am concerned this is a predication to a buyout of minority interest shareholders significantly below fair value.

[heraldomaha] 21/2/2022 21:52

Dave4545 - I’m not planning to wait years, just not accept a first low ball offer if it massively under-represents true value. I also support any efforts to challenge the efficacy of the actions that have led to the current outcome. I have an open complaint with the FCA.

[dave4545] 21/2/2022 21:15

Because I know I can make way more with the money trading elsewhere than waiting 20 years for 0.1p a year dividends and money back.

[heraldomaha] 21/2/2022 20:51

Dave4545 - He probably thinks he can sweat us all out……..

The company profitability and cash is only growing. I think it is worth >5p on current metrics, so why sell at 2p?

[dave4545] 21/2/2022 20:13

I do not get why Gunn does not buy us out at 2p a share, with all the cash the company has he would actually end up better off and we can move on and use the money to invest elsewhere.

[heraldomaha] 21/2/2022 19:09

A1samu - I understand your pain, but in your shoes, I would spend your time looking for an alternative broker if they are that bad. I’ve used AJ Bell, and on the whole they have been very good. I would advocate for engaging with the ombudsman regarding Octagonal PLC’s behaviour (where we don’t currently have an exit solution) where as the market offers multiple easy alternatives to IG.

[a1samu] 21/2/2022 13:05

I got £30 compemsation out of IG, after sending them 30 emails,to do with the delayed divi.

And I had a chance to tell them that they are an unprofessional, uncaring bunch of people.

And I may yet continue to the Ombudsman, because they blame staff shortages!

[dave4545] 05/1/2022 11:37

Could imagine if IG delay all dividend payments 2 weeks with false excuses they might make a fair whack in interest.

[r4inbow] 05/1/2022 09:18

Also now received dividend from IG.... same excuse "custodian had not received a valid SWIFT confirmation"

[gary1966] 04/1/2022 13:23

Pleased to hear. Got my AA4 capital reduction proceeds today as well from IG, three weeks after the event, one week later than other IG clients and they paid the wrong amount as well. Truly shocking.

[a1samu] 04/1/2022 13:08

Got my IG div this morning with the excuse "our custodian has not received a valid SWIFT confirmation. . . ".

[r4inbow] 01/1/2022 09:55

Yes, still waiting on IG