Octagonal Share Discussion Threads

[29palms] 24/12/2020 08:09

Yes @ 8.01 RNS
Sneaky on ex-div date IMO

However very interesting.

[dave4545] 24/12/2020 08:05

Suspended pending a announcement !

Blimey, if he offers a premium for stock he does not hold I'll go nuts given I hold a fraction of my original stock

[the explorer] 23/12/2020 16:38

Wetpantz, this is the email I received from Charles Stanley so I don't think that the shares need to be sold unless I'm reading it wrong?

Client account number: xxxxxx

Dear Mr xxxxxxx,


Octagonal Plc
Cancellation of Admission to Trading

Subject to approval at an AGM due to be held on 13 January 2021, Octagonal Plc shares are expected to be cancelled from admission to trading on the AIM with effect from 21st January.

Following this, the shares will no longer be eligible to be held within an ISA. If you still hold your shares on this date we will arrange for you to receive a share certificate for your entire holding.

Please do not hesitate to contact us if you have any queries.
Kind regards,
Sophie Shell
Deputy Administration & Corporate Actions Manager

[wetpantz] 22/12/2020 15:11

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.

[dave4545] 22/12/2020 14:17

I must have missed the bit where Gunn said he would offer 2-3p for stock he does not hold !

Are you one of his staff Wet ?

[wetpantz] 22/12/2020 13:41

The share price has gone no where for years despite paying a decent dividend. There's little liquidity in the shares and the spread is always huge. The company doesn't need to raise capital and ownership is already concentrated. If JG makes a fair offer to buy out those who don't want to hold delisted shares, I dunno what the fuss is about.

[bobby.ifa] 22/12/2020 13:33

It'll come back to haunt him, as he'll have little credibility in City & Institutions won't support him on any new fund raising for his tin-pot AIM stocks. He's just used Oct as his own private Pension fund.

[29palms] 22/12/2020 11:05

dave4545
He has also very quickly taken down from the Octagonal website the video interview where he extolled the virtues of being invested in OCT

Do wish I had captured that transcript!!!

Nothing more than a Modern Day Outlaw

[dave4545] 22/12/2020 10:55

29p

We should be able to sue Gunn for writing those words !

I for one believed that statement and was one of the main reasons I ignored the fact he held so much stock thinking he sounded genuine about delivering us a return.

[yump] 22/12/2020 10:49

If anyone thinks that they're going to get juicy dividends to their retirement once the company is delisted, think again. There are so many ways to reduce profits. AIM allows crooks to work without any real teeth being available to monitor them. Outside AIM you are totally reliant on the BOD's.

[29palms] 22/12/2020 10:45

From the Octagonal Annual Report and Financial Statements - 31 March 2019 published on 24th September 2019

Chairman, John William Gunn stated -
"the board remain very optimistic that the work to date will translate into rewarding value for all shareholders"
"I would like to thank... the entire team in the Group..in delivering these results and strengthening the business to deliver greater returns for shareholders in the year ahead"
Fast forward to 17th December 2020
PROPOSED CANCELLATION TO TRADING ON AIM

A Leopard Never Changes its Spots.
Gunn by name....Gun by nature.
IMO nothing more than a Modern Day Outlaw.

[dave4545] 22/12/2020 08:47

People are still chasing it.

Now 1.025-1.325p

So almost 3 times higher than the lows some people panic sold at last week (0.375p)

[darrindusty] 21/12/2020 20:37

How's ur unrealised capital loss looking though pal? Take many years of divs to recoup that! They are all crooks. Off to gallows ......

[wetpantz] 21/12/2020 19:20

Delisting doesn't bother me. Checked with my SIPP provider and the unlisted shares can still be held within a SIPP (unlike ISAs). Presumably JG will still want dividends so that means 10% yield (twice covered) at current share price Current enterprise value is less than the cash on the balance sheet. The business seems solid with exciting prospects in HK. Obviously not good for short term speculators but so what. JG is right, continued AIM listing is an expensive and pointless distraction from growing the business and making money for shareholders.

[dave4545] 21/12/2020 15:43

Not slagging off Wey just do not think it's cheap with the valuation v small profits
but at least they are not delisting so yep !

0.86-1.18p now

Buyers need a huge rise to make a profit but it's not putting them off, perhaps Gunn will do the right thing and offer a reasonable price for stock he does not have which will not go down well for all us that sold this low in the market now

Still holding but a fraction of what I had.

[wigancasino] 21/12/2020 12:31

Feel sorry for you dave4545, maybe not your wisest decision to come onto WEY board slagging it off and saying how much better OCT was. Hindsight is a wonderful thing and hate anyone losing money to shysters.

[darrindusty] 21/12/2020 08:42

John carnt and the nomad are all bandits. Storm this agm and call them what they are

[dave4545] 20/12/2020 20:08

I see UCG also decided to delist but had the decency to offer a premium for all shareholders to exit for.

[truckle1] 18/12/2020 15:51

This whole saga is deplorable.

[dave4545] 18/12/2020 15:39

I bet nobody knows.

I spoke to a staff member and they have no idea of what had happened to the share price or the delisting, most of them go to work, do their work and go home they know nothing of the shareprice or care as all of them hold no stock.

Gunn has won, mm's have bought a good 1-2% today for him around 0.9p