Stratex Share Discussion Threads

[romeike] 17/9/2017 12:27

Hopefully DH and PF can preserve/rescue as much cash as possible.

[youngharry2] 17/9/2017 11:41

Are we looking at part one of a three part move?

Part one: shareholders vote against the deal

Part two: significant changes at board level

Part three: STI taken out, David Hall will want STI's TS stake and cash

sp movements next week will give us a clue

[romeike] 17/9/2017 11:00

So it looks like everyone here is intending to vote against the proposal and for the requisition shareholders. Isn't there anyone prepared to speak up in support of it and tell us we are missing some important consideration that makes this a fantastic deal?

[tadtech] 17/9/2017 10:14

David Hall founded Stratex, I assume he was horrified by what the new CEO proposed, for a very long time it looked like the acquisition would succeed in the absence of objections from the major shareholders.

I have looked, in detail, at every aspect of the Crusader acquisition and my overriding concern is their significant cash burn, in the half year they lost £2.4m for example. Note how S.P. Angel drew attention to the high salaries as an example.

For the benefit of doubt I think Crusaders assets are good, the company seems undervalued but Stratex have clearly over-paid for the deal. The dilution was untenable and Stratex paper was not valued correctly, typical of a BOD with no skin in the game.

My concern is that Stratex will hand Crusader another £1.25m shortly, that WAS the intention according to the Crusader report announced last week.

I will be backing the requisition with my shares therefore. My only interest is to see the value of my investment rise, it always has been.

[ryanandbethanjones] 17/9/2017 09:48

Those numbers for director shareholdings are shameful. I want Marcus and the Crusader deal to be consigned to history sharpish and I will support the move to reject the deal 100%

[goldenshare888] 17/9/2017 08:28

Welcome back Shavian :))

This could possibly be a fantastic re-entry point/top-up point!

GOLD looks primed for a big move up also......$1500?

[shavian] 17/9/2017 07:49

After many years of pain I baled out of STI in disgust when Englebert sold Altintepe. Although a non-shareholder (atm) I'm delighted to hear of these developments and wish you all well. I said I'd be back when Thani Stratex flexed its muscles. Good luck all, watching closely.

[romeike] 16/9/2017 21:20

Yes it is a little ironic that the CEO and Chairman hold so few shares that together they couldn't even out vote a number of individual shareholders on this bulletin board.

[broken_arrow1] 16/9/2017 19:23

Quite disgusting how few shares the directors hold


Marcus Englebrecht CEO holding 0

Emma Preistly Non Exec holding 0

Chris Worcester Non Exec holding 0

Peter Addison Chairman holding 217,857

Perry Ashwood CFO holding 1,744,445

[exbiz] 16/9/2017 18:58

I believe Orion Trust are close associates of Bob and DH so I'm guessing you're G.P vested.

[exbiz] 16/9/2017 18:55

aircomm you say eight figure holding which means you must either be G. P. Jersey limited or Orion Trust Limited as the only other eight figure holders on the share register are AngloGold, BlackRock Investment Management, Teck, Antofagasta and Thani Emirates Resources ???Interesting.

[aircomm] 16/9/2017 17:26

I think a take out at 2.5p or 2.75p is not inconceivable, and we look to be very far from achieving that if the scheme of arrangement goes through. Had the numbers been different (e.g 5 Stratex shares for each Crusader share) we might have been in a different place.

My understanding is that an Australian scheme of arrangement is driven heavily by the target and that shareholders of the bidder can feel short-changed.

I have remained in the shadows, but hold a material (8 figure) shareholding in STI. I am watching keenly.

[dingo75] 16/9/2017 17:12

a takeover is not what we want as it would be maximum twice the current share price

What would be preferred is if Teck /Anglo etc voted out the board and they installed a temporary new Chairman then a new BOD installed, and built the company back up.

But good to hear a broad agreement from Pi's here. The Ozzie deal is a stinker for shareholders and overwhelming shareholder revolt should see it rejected.

[baner] 16/9/2017 16:02

exbiz

interesting thought . a takeover is not an unrealistic thought at all. maybe they see good value in the other assets - and as the cash position is approx equal to the market cap it must be rather tempting.

an interesting aspect here is that it seems Stratex has lent money to the aussies, secured by assets, presumably in Brazil. if and when the deal collapse, Stratex should be paid back and if the aussies cannot raise the funds for that........guess what: Stratex can potentially ask for a foreclosure..........voila!

[romeike] 16/9/2017 15:38

I can't blame the whole board. I am a fan of Emma Priestly and whatever happens I hope she is kept on.

[romeike] 16/9/2017 15:13

You know what I could stomach the 65% premium. What really got to me was when they put out the recent report boasting about how valuable Goldstone and ThaniStratex were as if these assets hadn't just been valued at ZERO in the deal.

[exbiz] 16/9/2017 11:08

I wouldn't want to be a Crusader shareholder right now. They've gone from discovery of the fabled 'Magic money tree' to now seemingly having the rug pulled from under them with their share price surely about to capitulate and a very dubious future with no funding.

[exbiz] 16/9/2017 10:49

Romeike I would imagine the plan is to kill the Crusader deal and reinvest the funds in TS where David has seen the potential through the recent drill success and shared it with Anglo and Teck to convince them that TS is where the action really is.

[broken_arrow1] 16/9/2017 10:08

I think this action has to be supported, anything is better than 400% dilution proposed by Englebrecht & Co to acquire a loss making company that has no cash.

No doubt Stratex management will do all they can to try and block and disrupt the move for change but shareholders need to make sure they get their acts in order when it comes to voting.

The share price was 2.5p a year ago it is now 1.3p, that shows how useless the new CEO has been since his appointment.

[soulsauce] 16/9/2017 10:03

Good to see shareholder action is not dead after all.

Hopefully this will succeed and be a shot across the bows of the many other CEO's making a very good living at the expense of the PI.

[corguv] 16/9/2017 09:45

Anglo pulled right out of the MENA Mideast
North Africa as part of corporate strategy leaving behind what is a residue shareholding for them. Since then the market has changed with increasing volatility. Thani-Stratex with Egypt and
Djibouti used to be Thani-Ashanti and Anglo's baby perhaps it will be again ?