Sovereign Share Discussion Threads

[skidaddle] 05/7/2017 12:28

I see you are putting the rumour around, but where did you get it from?

Or did you just start it?

[flavio_monteiro] 05/7/2017 11:17

Rumours are that the RTO is sorted awaiting sign off by solicitors...

[squiresquire] 27/6/2017 19:10

Looking forward to hearing who will run the Indian office, could be a 'brahma'

[georgia1972] 27/6/2017 12:10

Agm today 3 o,clock

[georgia1972] 07/6/2017 15:58

Nice bit of volume in the last couple of days Hopefully a good agm coming with maybe an insight to some of their plans

[pranchalee] 05/6/2017 09:20

Correct SQ deal will be done but may take a few more months yet

[squiresquire] 05/6/2017 08:35

In the last RNS the company says below about suspension, but my understanding is that they can lift the suspension any time before the shares get finally cancelled provided they have completed the reverse takeover. So it leaves until 21st July which gives us, by my reckoning 33 days until suspension.


Suspension of trading in the Company's shares is scheduled for 21 July 2017, if the Company's shares remain suspended for six months they will be cancelled from trading on AIM on 21 January 2018 pursuant to AIM Rule 41.

[pranchalee] 01/6/2017 20:56

What ramping there was 50m traded today hardly a big sell off considering how many buys there was but people get desperate and they lose money,Giles will pull this off no doubt about that but the new CEO hopes to be in place by next weekend

[grlz] 01/6/2017 20:35

funny how the ramping stopped after 14m shares where dumped....guess not all ramps work out

[gaddy88] 01/6/2017 16:09

14 mill sell...

[pranchalee] 01/6/2017 12:30

god they are going to squeeze the life out of weak holders today

[pranchalee] 01/6/2017 11:58

%25 drop on minimal selling

[pranchalee] 01/6/2017 11:36

Good gamble at this price

[2magpies] 01/6/2017 08:01

Squire

Tks

Also, the fact that they have said the new CEO will be based in India, suggests, imo, that the discussions are more than just preliminary, given that Rupert has already left.

Appears fairly definite, to me.

[squiresquire] 01/6/2017 07:56

magpie

Yes as far as i can see it is correct, Vocanic could have an excellent future there, they raised their initial money to get started on testing etc but that Mandiana area is serious gold country make no mistake about that whatever. They counted over 9,000 different artisan workings, ie small guys looking for gold by paning etc, in one survey. People dont go into the bush for fun looking for gold, its a serious attempt to get a decent amount of cash. 9,000 is a lot of people so they were not all wrong.

As for SMA, india is vast, the young middle class dynamic is really huge, i would not be at all surprised to see Clarke aiming at that age group.

[2magpies] 01/6/2017 07:43

Squire

Interesting, and intriguing change.


Also, Volcanic Metals (Now Volcanic Gold Mines) share price is now CAD 0.58, which would value SMA's stake at CAD 1,451,443 = £836,787

Is this correct?

[squiresquire] 01/6/2017 06:21

Very interesting RNS, so now Giles Clarke is going to go for consumer goods in India. Clarke was chairman of Majestic Wine Corporation Inc, a United States company which owned a chain of 104 stores trading as Liquor Barn in California and Arizona.

Clarke founded Pet City, where, as CEO, he built it into a chain of 94 stores (also dressing up at Xmas in the Swindon Store). After making the business public in 1995, he sold the business for £150 million in 1996 to US based PetsMart.

Clarke founded Safestore, building it into the UK's third largest self storage company, selling it to Bridgepoint Capital for £44million in August 2003.

Now he is in India pursuing something there for SMA. It makes sense for Rupert Street to go as his experience was in Hong Kong and Clarke will need someone from India.


Having previously pursued a wider strategy of targeting assets in a number of sectors, the Company is now pursuing a more targeted strategy, including pursuing acquisitions in the Indian consumer goods sector. The Board is actively assessing acquisition opportunities and is in preliminary discussions to acquire a business operating in this sector. There can, at this time, be no guarantee that any acquisition will complete. Further announcements will be made in due course.

Finally I would like to thank Rupert Street for his service as CEO of the Company. Rupert has today stepped down as CEO and resigned as a Director of the Company. The Company intends to appoint a new CEO in due course who will complement the anticipated new direction of the Company and who it is planned will be based in India.

[squiresquire] 31/5/2017 07:25

Another point is that during the negotiations and expediting of the RTO Clarke and co will have an exact date in mind as to when they have to complete the paperwork and they will be working to that. I honestly would not be at all surprised to see them announce what they are doing on the last day, or close to it, that is possible.

Whatever it is i really dont think they will have any real option to run this through at a mad speed due to the time these things take especially in many of the countries that have large quantities of precious or rare, earths or metals.

[georgia1972] 31/5/2017 07:20

Cheers SquireMy average is .54 so would be negative I thought we had 6 months to complete RTO. We must be close to that?I do agree there will be some considerable upside but the suspense is squeaky bum time !!!

[squiresquire] 31/5/2017 06:36

georgia

I strongly suspect they will combine update on progress with results. They still have a long time to go, we dont know if the reverse takeover involves government level discussions which could take time or if discussions are involving several parties which could also take a long time. As for brokers well ime sorry to say they are a totally self serving lot who think talking to the public is too humiliating a task to undertake. If you are scared of your investment though, sell out.

What we do know is that the team of Giles Clarke, Jeremy Sparrow and Rupert Fraser are all genuinely top line businessmen with their own money in the game. These are really top guys with a load of experience, contacts, skills and money, whatever you do dont take these guys lightly. They mean business, but maybe they are still intending to reverse into some company or business in Africa where getting paperwork notarised and formally committed to in court does take a long time.

[georgia1972] 30/5/2017 18:57

I'm getting a bit jittery now May is nearly ended !!Plus I have tried to call their brokers to ask about results and for other information and keep being told that someone will call me back and a week later four times told,l have still not had a call back, worried I should say so !!

[thelung] 26/5/2017 16:26

News on Tuesday then?

[gaddy88] 26/5/2017 12:18

Did anything happen in the end with this?