Reflec Share Discussion Threads

[man1] 13/12/2021 22:46

Well tomorrow is pension day for me .......

So if anyone want to sell early let me know ....

Looks like the price is £50...

[man1] 13/12/2021 22:37

Evening all,
Received my EGM resolution in the post today and like others have spread my holding out to my partner and other . Look like i may have to re consolidate .
On reading the documents it could be that you can buy a partial holdong for m the EBT , but dont take my word on it . I will try and clarify .

[twodegrees] 13/12/2021 14:37

Guess that might be me.

[philmac56] 13/12/2021 14:05

Counter shows 2 online.

Me and who else?

[philmac56] 13/12/2021 14:04

I was in here years ago, sold up.

Bought a few a couple of months ago, I will see that value halved.


No doubt, those that lucky? enough to remain should see a good Divi return, as less holders to share the pot around with.

But I see a share price of £2,500 hard to trade, if at all.

Why not put the company back into the open market, that may make it easier to trade shares, but add to the costs that are incurred!

[philmac56] 13/12/2021 12:46

Postman arrived with a pack to read and vote.

2 deg sent a pm reply

[philmac56] 13/12/2021 12:11

Two degs..
Assumption is that the pack will need to be sent out to every shareholder.
So expect something in the post!

Well the Board used to monitor this BB in the past, I assume, they still do

[twodegrees] 13/12/2021 10:24

On the website it says

From the date of this announcement the directors we will treat the period as a closed period. For
fairness the Directors have decided that the AGM voting will be by way of a Poll
Enclosed is a resolution pack for an EGM which will be held at WR Partners, Drake House, Gadbrook
park, Northwich, Cheshire CW9 7RA on the 7th January 2022 at 10-30am subject to potential Covid
19 restrictions..


Has anyone seen this resolution pack, as I cannot find it.

[clocktower] 13/12/2021 10:10

LOL - This is not the first time the BoD have done this sort of thing and is nothing more than another step in the direction they took last time around.

Good Luck but as I have not kept up to date, what sort of value would one of the original shares be worth today (i.e. the price they were say a month before de-listing)

[twodegrees] 13/12/2021 10:01

I do wonder if the board ever look at the postings here...If they do I would love for them to answer if those who do not have the full 50 shares will have an opportunity to buy in order to have the 50 required for the consolidation.

Long term holders surely must be given some chance to continue to share in a company they have stayed with for many years.

[philmac56] 13/12/2021 07:22

Two
Reply sent 2u

[twodegrees] 13/12/2021 06:58

philmac56. pm sent to you.

[philmiboots] 12/12/2021 22:32

Actually rereading that “notice” I’m not sure that this is even being put to the vote - it sounds/looks like it’s a “done deal”.

[philmac56] 12/12/2021 22:25

2 degs..
Sent to you a pm

[philmiboots] 12/12/2021 22:19

So if this is a “special resolution” does it need a 75% majority to pass, or more or less? Who sets the % in this situation?
Given who owns most of the shares I think the “vote” is a forgone conclusion.
Anyone watch the F1 this afternoon?

[twodegrees] 12/12/2021 22:10

philmac56, where's mine.

[philmac56] 12/12/2021 21:19

Villy, I have sent you a pm

[twodegrees] 12/12/2021 20:49

Villyvilson, I have sent a polite e-mail to Reflec, and pointed out that recently the cheapest quoted option to buy was £195. The sale of 2 shares suggests that the valuation of the company has crashed from over £200 down to £50 a share when in fact no profit warning has been given and they paid out at least one dividend in the last 12 months. This is so unfair to shareholders who in the first place lost thousands when the share was consolidated when they moved to a private company....and now we are kicked again with a valuation that stinks in my opinion.

I am fuming....

[villyvilson] 12/12/2021 17:24

Convenient that 2 shares were sold @ £50 in Sept!

[twodegrees] 12/12/2021 16:48

Ok Philmiboots I see your points, but surely those who want to stay should be given an opportunity to buy small amounts to make up an opportunity of still being within reflec. Those who want to sell should be allowed to do so, but fairness states we should each be given an option.

[philmiboots] 12/12/2021 12:10

My "understanding",FWIW (and might be wrong), from the info on the Reflec website is that you might expect to receive £50 for each of your existing shares "lost" in the "fractionations". ie £100 for 2 shares or £2,450 for 49 shares and a "goodbye, it's been nice knowing you" card.

No idea what % vote is required to get this through - anybody?

I reckon the vast majority of the current shareholders own 5 or less shares, which represents a little below 10% of the 14,601 shares.

The majority of shareholders own only 1 or 2 shares, so you can see where they are coming from (reducing the costs of managing all these tiny shareholdings).

[villyvilson] 11/12/2021 23:10

I will be appointing the chairman as my proxy and vote in respect of my full entitlement against the resolution. I'm disappointed at the proposal to wipe out shareholders in this way.

[twodegrees] 11/12/2021 22:43

Excuse my ignorance Philmiboots, but as I have less than 50 shares, does this mean I receive nothing and am no longer classed as a shareholder in reflec.

What a way to treat shareholders , who already suffered as a result of a consolidation before this went private.

What a way to treat people who have stayed loyal to the company regardless of how many shares they have.

Seems this just lines the pockets of those who have many shares.

[philmac56] 11/12/2021 18:55

£2500 per new share!
A mini, mini trading market then

[philmiboots] 11/12/2021 18:37

"Interesting".

By my rather crude reckoning I reckon that probably wipes out about 95% of the 791 current shareholders, with about 5% having over 50 existing shares, leaving about 40 shareholders in the new arrangement holding the 292 "new" shares, give or take.

Are existing shareholders going to be able to "top up" (or sell some of) their shareholdings to be divisible by 50, or are all the "fractions" (3-4k of shares) going to disappear into the EBT at £50.00 a pop, give or take?