Pv Crystalox Solar Share Discussion Threads

[konradpuss] 25/7/2020 18:06

zcaptd7, I think that a bit of 'covering some downside' is required.

I agree that tendering zero is very logical, however what happens if after de-listing the directors decide to invest in a 'duffer'.

I hate it but logic says tender 50% of your holding.

[zcaprd7] 23/7/2020 20:42

Well, on the basis the shares are actually worth about a quid, with the cash, I shouldn't tender any?

[dgdg1] 23/7/2020 16:42

If anyone has copies of schimanski's posts could they please repost them here? Thanks

[konradpuss] 23/7/2020 15:59

zcaprd7, I agree, however what I don't want is to vote against it, tender no shares and it goes through.

A very difficult decision.

[zcaprd7] 23/7/2020 15:55

Well, it's frustrating, because they know that's what everyone will do, and I don't want my simply attempt to get some money back, to look like I accept everything else they're proposing...

[zcaprd7] 23/7/2020 15:54

Probably been fired... I guess management read this thread.... if so:GIVE US ALL THE MONEY

[dgdg1] 23/7/2020 15:09

It looks like nearly all Schimanski's posts have been blanked out/replaced with "..." - what is going on?

[dgdg1] 23/7/2020 13:54

Schimansk, that post just reads "Hello everybody" - not sure I get your point.

[konradpuss] 23/7/2020 13:24

zcaprd7 I am planning to tender half my holding.

What swung it for me is the answer about the honesty of the management.

What are you planning to do?

[zcaprd7] 23/7/2020 13:15

What is the consensus here then, take up the offer, and then moan afterwards, or kick up a fuss before?

[konradpuss] 23/7/2020 13:14

Schimanski1, so keeping the German operation running is politics with the tax authorities.

Thank you for your input.

[dgdg1] 23/7/2020 09:07

Schimanski1, your posts are very informative. In your opinion, how likely do you think it is that the business will become profitable and be possible to be sold to management or someone else? (And if so how long would it be likely to take?) Also, do you have any idea how much it would cost them if they decided they had to close down the whole business? Thanks.

[zcaprd7] 23/7/2020 09:06

Thanks for that.Yes, the German workers are supported by the state, the thrust of my question is, has the Germany operations burnt less cash during the lockdown...

[zcaprd7] 22/7/2020 10:06

@schimanski1 but did you get any German government support to cover the workers on furlough? As we did in the UK...

[zcaprd7] 22/7/2020 10:03

Indeed, you don't repay a grant, so I don't understand the German tax issue, as they refuse to explain it. I can understand why you would save a few quid by cancelling the listing, but unfortunately there is unfinished business, so they shouldn't. It looks like they are playing a fast one to me. Either a) return all the money, wind up the German operations and delist or b) return all the money and mbo the German operations and then delist. Current shareholders don't give a hoot about your transformation of the German operations, so dispose of it or sell it to someone who does!

[konradpuss] 20/7/2020 04:25

skimanski1, a question. Did the company take grants from the German government? If so I wonder whether the tax issue on the distribution has something to do with their repayment? i.e. the money was distributed and the grants not repaid?

One final one, are the management honest? O.K. we know they move at a snail's pace!

[zcaprd7] 19/7/2020 23:20

Yes, I have a question, was there a covid lockdown in Germany, a did any workers get furloughed?

[konradpuss] 17/7/2020 19:25

Good evening 30, 50, 20. I always like to invert, invert, invert as Charlie Munger always advises.

Now why did the directors not fully distribute and buy the 'business' for shirt buttons?

I think if their circular had that content we would have not batted an eye lid and signed up pronto.

I wonder what the ramifications are of the tax investigation in respect of the last distribution and if this is a genuine reasons not to fully distribute due to a contingent liability?

Looking at track record since I 'came aboard' around two years ago, the management have been slow but have eventually delivered.

I can understand them de-listing due to the cost of the listing. O.K. it suits them but not us.

I find Simon Thompson quite annoying although why not?

I think it also worth an email to Schroders who I remember hold 7%. I guess you would need to find out which fund manager has the holding - I am happy to do this.

All in all, as long as the 'dosh' is still in the bank, there is all to play for. Let's hope it is not a 'Wirecard'!

[thirty fifty twenty] 17/7/2020 18:29

hi Konrad.... yes agree that at the end of the day if you taking a 3 year view,
and you don't mind the risks of holding an unlisted company where the directors have effective control then the tender does not matter. in fact it improves the position of any holder.

however I think the 'offer' of the majority who bought shares in a listed vehicle it is not ideal to be listed thus one would think that the deal should be equitable whilst also recognising the risks.

I feel I don't have the full information.....
what are the german tax scenarios... is if goes wrong is the bill 500k or 4m?
what did the plant and machinery cost , that is no valued at nil?
how the board tried to get quotes for this?
they said at a previous AGM that it is definitely NOT all be used by the current german operations - i.e. there is clearly surplus assets valued at nil in the books?
surely the German mgt have refused to buy the business - what is the story? what circumstances are the directors waiting on to happen which will enable a sale.

I am a shareholder and I dont feel the directors have tried to give me the full information to make my decision.

lets see what we think over the weekend. maybe Simon T in the ic would be interested as excessive director salaries are always of interest.

best wishes