Scotty Group Share Discussion Threads

[minerve] 10/3/2011 22:36

The graph
On the wall
Tells the story
Of it all
Picture it now
See just how
The lies and deceit
Gained a little more power
Confidence
Taken in
By a sun tan
And a grin

Depeche Mode (Everything counts)

[scotty tsquared] 10/3/2011 22:04

leeds1,

I think you, Minerve and hal5 should get a room.

LOL

[scotty tsquared] 10/3/2011 22:03

leeds1, I have Dorothea Complex.

[leeds1] 10/3/2011 20:09

St2
Why do you carry on gloating you have proved nothing? why is it that you want the share price to plummet if you own shares in this company ? - I think you should take a walk up a HILL which ever hill is near to you sit on a bench and work out how other people enjoy life - really its free and LIVE you may find it WORKS.
Get some fresh air instead of sitting around a pc all day - try it , its good for your health.

[ladybird1] 10/3/2011 16:03

Indeed, ST. Excellent. 100k @ 5p will be worth a punt on either option.
As you note, still inevitably got further to go down.

[scotty tsquared] 10/3/2011 15:26

this share price is heading down to 5p nicely ..... for the meeting in late March.

[minerve] 10/3/2011 14:07

...mmmmm.....

[minerve] 10/3/2011 14:04

'Unlikely'

[scotty tsquared] 10/3/2011 13:55

"Another thing, Mr Wustinger is unlikely to vote for Plan A."

why not ????

The double bluff

[minerve] 10/3/2011 13:41

Ladybird1

Yes, I am aware that they can issue more shares. They have had this option, as it stands, for almost one year and they haven't used it. Why not? I think if Plan A fails the same issues, whatever they are, will still exist going forward and this will limit the amount of money invested and the number of further shares issued. I could be wrong, but I still favour a continuation of the company without committing fully to any particular solution until further is known.

The board obviously favour Plan A, they therefore would like to paint a fairly bleak picture of plan B, but it may not be as bleak in reality. Mr Wustinger is prepared to invest money, he knows the business, he doesn't want to lose money, he thinks it is worthwhile investing and he cannot just de-list without our approval. Mr Wustinger will need an exit plan for his investment and so a listing is still attractive for him, whether it is here or in Austria. I personally don't care where they are listed, as long as there is a ready market for me to sell into that is liquid.

Another thing, Mr Wustinger is unlikely to vote for Plan A.

IMHO

[ladybird1] 10/3/2011 11:50

abrahe I'm not aware of that restriction, which seems a rather perverse limitation if you're a struggling company needing to generate some cash, but that by no means says you're wrong. Is anybody sufficiently clued up to help us with chapter & verse?

As to ultimately forcing through a course of action, we don't disagree; the Board is clearly in a corner. I can well imagine, as somebody posted earlier, the Austrians are thoroughly brassed off with exposure to the UK & very much want to repatriate to their own culture.

Whilst the Board's continued optimism over a long period in retrospect looks very shaky, to their credit they seem to me to have put a deal of effort into mapping out ways forward. Equally, the Board's idea of a pre-GM is imaginative as opening a line of two-way communication with shareholders at an early stage. An unusual procedure.

My basic point is there's nothing to be lost by taking the initiative seriously. Nothing to be gained, beyond emotional therapy, from simply turning the meeting into a bear garden.

[abrahe00] 10/3/2011 11:22

LB1: I could be wrong but I thought they are limited to how much they can raise by virtue of the difference between the share price and the nominal value of the share. So, by my calculation: 6.75p - 5p = 1.75p x 20,210,000 = £354k or thereabouts. i.e. they can only issue an additional 7m shares at 5p.

As for the EGM... As I said, I believe this will just be a charade to meet their statutory obligations. The sharehoders can say and propose what they like. I believe the board will in the end force through their preference by using the proxy vote.

AIMHO etc etc...

E.

[hal5] 10/3/2011 11:16

Yeah, and wear something that can identify you, perhaps a daffodil!

[ladybird1] 10/3/2011 11:08

Nice one, ST!!!

Why not attend? The past is gone & the only point of attendance is to understand as fully as possible Scotty's present position & the options.
Your knowledge & focus on the Company could be an unrivalled forensic tool to these ends.

[scotty tsquared] 10/3/2011 10:43

" ....... I hope, in the end, you will not attend the meeting simply to have a rant........"


Now that gives me an idea.

I should attend ......... and declare myself.

That would cause a riot !!!!!

[share_shark] 10/3/2011 10:42

Dont forget if the shell becomes just that, it will have a very useful rental
income.

[share_shark] 10/3/2011 10:40

KK and Wurstinger own 5.5% together.

[scotty tsquared] 10/3/2011 10:38

abrahe00 - 23 Nov'09 - 14:38 - 5 of 152

......I guess the decision comes down to whether you can afford to take the hit. Like most SCO investors, I'm sitting on a sizeable loss with break even at 52p. .....


Instead on filtering me .... and requesting others do the same ...... you should have tried listening !!!

[4gazza] 10/3/2011 10:28

Anybody know when the AGM/EGM docs get posted?

[ladybird1] 10/3/2011 10:24

abrahe
- I think 10m. shares @ 5p made £500k. I think you are wrongly calculating the maximum issue as 33% of the shares in issue, whereas the Board can issue up to 50%, thereby creating a holding equivalent to a 33% stake in the company. An issue price of 5p, as you note the minimum, would thus neatly hit the £500k.
- I hope, in the end, you will not attend the meeting simply to have a rant.
As Minerve points out, information is what's useful and the opportunity is lost if all we get is disruption.

[scotty tsquared] 10/3/2011 10:16

" .... I'm kicking myself for not getting out of this dog much earlier......"


You had the opportunity and the information I supplied.

With my track record ..... why didn't you ??

[northwards] 10/3/2011 09:59

looks like some one is accumulating...

[share_shark] 10/3/2011 09:09

Rule 15 does not apply until the second GM and they are therefore largely free to add as much or as little as they can get away with,INMHO.

[ladybird1] 10/3/2011 09:05

Minerve, in your speculations are you not forgetting what the Board have been very clear to spell out? They have power, without further recourse to shareholders, to issue a further c.10million shares. This course will be followed in the event of Option A's rejection, to raise £500k.

These shares would immediately give up to 33% of the equity(in practice up to 30% to avoid a trgiggering situation, I assume)but anyway more than enough to give voting control. Most holders in a fragmented share register like this one won't be paying any attention anyway to long dead holdings, so control will, in practice, be absolute.