Stratex Share Discussion Threads

[romeike] 26/9/2017 11:40

Well if we are going to be shot at we at least have to have something.

[novicetrade68] 26/9/2017 11:00

Receiving a plastic bat is a reason in it self to attend ;-)

[romeike] 26/9/2017 10:57

By the way, I look forward to seeing people at the EGM. I will be at the entrance handing out plastic bats.

[romeike] 26/9/2017 10:50

It's still a huge diversion from their stated strategy and again is in the context that Marcus received but chose to keep shareholders in the dark about an approach from Thani Stratex.

As the share price Angel report pointed out, numerous companies have considered Crusaders assets and walked away. Personally I think Marcus methodology of peer review is extremely simplistic and I don't believe they have the skills to make the right call.

In addition any merger with Crusader in any context would render both Marcus and Chairman redundant in my opinion. I honestly cannot see the use for them in the merged entity as they bring nothing to the table.

[tadtech] 26/9/2017 10:32

I was trying to consider how the Crusader deal COULD have been delivered which would not have infuriated Stratex shareholders to the extent it has.



At the time it was announced Crusader share price was 12c - valued them at £22m

The last 18 months Stratex share price averaged around 1.9p - valued STI at £8.8m

It is clear that Crusader were strapped for cash and loss making, I account for this.

I believe an all paper offer something like this MAY have satisfied Stratex shareholders.


> Stratex to offer CAS shareholders a 10% premium making 13.2c

> Stratex paper to be valued at a premium to market at 1.9p (reflects £7m cash + equity stakes)

> Therefore Crusader equity valued at £24.25m

> Stratex offer 1.27b shares to CAS shareholders (4.2 for 1)

> Therefore Newco would have 1.74b in issue @ 1.9p - Newco m/cap £33m


Plus, more clarity on forward funding and how it would be achieved + firm commitment to cut G&A costs, directors packages to be clearly aligned to shareholder value targets.

Thoughts?

[romeike] 26/9/2017 09:36

Well you may notice that since the opposition was announced the shares have seen rises, though this also gives some holders more option for a dignified exit from this debacle. I don't think we can blame people for not buying into this company. If you were to assume the deal was going to go ahead there would be ABSOLUTELY no reason whatsoever to buy Stratex shares, you would buy Crusader instead to get Stratex shares on the cheap, cheap.

[gamesplayer] 26/9/2017 08:33

Surprised the 'rebel' shareholders aren't buying significant numbers of shares in the market.

[tadtech] 26/9/2017 07:53

I think it is essential for every investor to ensure they approach their nominee ASAP, the vote is crucial.

I recall around 5 years ago a company I was invested in proposed a transaction that required a vote. Certain shareholders nominees would not allow their investors to vote, they told them they needed to take their shares out of the nominee holding by getting them paper certified. The nominees said their block holding would not be used at all at the time of the vote.

The company CFO intervened directly with the nominees as he could not believe the situation, they would not turn.

My understanding is that the NO MERGER camp have increased their percentage quite significantly over the last week and are working hard to gather even more support.

[shoggoth] 26/9/2017 07:26

I've also written to my nominees. It's high time Marcus and Chris were kicked out. I've held these shares almost a decade now. My patience has run out.
If I had my way they'd be in prison.

[exbiz] 26/9/2017 07:11

That's what I've done with The Share Centre, just informed them that I have a large share holding in STI and wish to vote when the EGM and voting have been disclosed.

[romeike] 25/9/2017 21:24

There should be a form, or if you are using a big platform like Hargreaves Lansdown in might even be electronic. The first step would be a general help request to the broker to say you are expecting an EGM for Stratex and wish to proxy vote.

[novicetrade68] 25/9/2017 17:27

romeike, do you know how this normally works, would I just instruct my broker by sending a message or is there a form I should ask for? I know we'd have to await the date for the EGM first of course.

[tadtech] 25/9/2017 15:16

It seems investor support to abort the Crusader merger has grown fairly significantly over the last 7 days.

Any shareholder who wants to stop the merger can contact Paul Foord


[e-mail]

or

[e-mail]

[romeike] 25/9/2017 14:10

Don't really care where TS is based as long as Stratex remains UK registered if they merge which would seem entirely likely. TS is a private company and it likely makes sense for it to be in BVI.

[shoggoth] 25/9/2017 13:38

hxxp://www.thanistratex.com/contact/details/

[shoggoth] 25/9/2017 13:35

No thani stratex are based in the BVI.
Hold them to account over this.

[observer007] 25/9/2017 12:59

I am afraid to say that Marcus Englebrecht has been nothing other than a disaster for Stratex shareholders since his appointment.

It could argued that he was left a poor deck of cards but he really has failed to deliver anything positive since his appointment 1 year ago. The share price has crashed from over 2p to 1.1p at one time - a terrible performance.

I think he is clutching at straws now the powerful Anglogold Ashanti and Teck are seeking his removal.

[shoggoth] 25/9/2017 12:47

Better to vote for disruption. At least they are real shareholders.

[shoggoth] 25/9/2017 12:46

New stratex also a BVI company. Directors domiciled in the UK though.

[romeike] 25/9/2017 12:08

This rerate of the new co is a fantasy Marcus is peddling to push the deal.

The FACT is that if this deal goes ahead I guarantee you the share price of the new company will bomb as major shareholders and private investors like myself dump our holding. None of us wants anything to do with this $100 million hole and all the other capital raisings they will do to turn investors hard-earned money into salaries, pensions and bonuses for failure.

New Stratex will have several directors with unclear job roles, all "working from home", distributed across three continents. Where is the accountability, where is the oversight, where is the value?

Make no mistake this Stratex New Co post deal has "lifestyle company" written all over it.

[tadtech] 25/9/2017 11:31

The question that Stratex PLC refuse to answer is why such a good deal for CAS shareholders. Why offer 18c a share when CAS stock sells at 9.8c in the market.

Without Stratex cash what price a CAS capital raise, they would need at least A$3m, could they raise that at 8c I wonder?

No responsible CEO would propose an all paper deal when your stock price is totally bombed out, the dilution is penal, from 467m to 2.5b shares, that is why Marcus Englebrecht and two other board members (3 from 5) hold no Stratex shares.

The only sensible action, unless the deal can be renegotiated on significantly better terms for STI shareholders, is to back the requisition and vote to reject the deal in my view.

It is hard to believe that the relatively newly appointed CEO of Stratex did not approach the major shareholders (Teck, AngloGold, & Blackrock) to seek their views beforehand.

[bastiat79] 25/9/2017 11:09

I think it was a good interview with Marcus Makes the case for just how undervalued the Crusader assets are considering their size and how advanced they are. I have been in contact with some members of the Crusader Board who are very helpful in giving an understanding of the progress they are making. Targeting an ASIC of $700-800 an once I think there will be a significant uplift in the share price should the merger complete.

[romeike] 25/9/2017 09:42

If any of you use Twitter I would encourage you to tweet your own responses to the news/comments being posted on the Stratex twitter feed. Even if you just like my tweets that would help make those more prominent.