Sunkar Share Discussion Threads

[the skipper] 10/7/2014 11:14

They say it ain't over until the fat lady sings and looking at level 2 it seems that they are very keen to acquire more in the market. I was quite staggered just now when I fired up level 2 and saw the order book standing at 2.95m against only 540k available on the other side of the book and only 25k sales on Aim today and 69k on ISDX. Seems to me that if people hold their nerve they might just get a bit more cash for their shares than the paltry offer from SAPC.

[augustusgloop] 09/7/2014 23:02

Does anyone want to hold shares in a delisted SKR?

No RNS updates.
No way to sell.
No dividends (ever).
Directors issuing billions more shares to SAPC at 0.000001p each.

Its a dreadful situation.
They sold the shares initially @120P now they buy back at 1.8p
That's quite a profit.

[one day soon1] 09/7/2014 20:34

the offer is unconditional until they can achieve the required %, looks like they are short at present. If they achieve the 90%, from memory, the offer then becomes conditional and they compulsory purchase your shares....or let the company fold...cant see them doing that. That's my take to date

The above from surprised on lse

[paulb10] 09/7/2014 20:25

Plasybryn Why not continue to reject the offer IF THEY DO HAVE 90% then you will be forced to sell at this offer price. IF THEY DO NOT HAVE 90% then you will keep your shares. If what I said was correct in my my last post that they only need 75% of the company to delist it from the AIM then as they have said they will do that then I would assume that they have at least 75% of the shares because of the ones they had before and the number they have accumulated from people who have accepted their offer. THEN WHAT NEXT???. I guess they will take the company private in august and apply a number of dilution strategies on the shares.

[plasybryn] 09/7/2014 20:03

So we continue to refuse the offer.

[paulb10] 09/7/2014 20:01

I think you may be right dan they said that they have received acceptance offers in respect to the 29% of shares but they do not state how many offers of that 29% were accepted. It only firmly states that they have 61% HOW MUCH DO THEY NOW HOLD THEY DO NOT SAY. They do state however that they will apply to the LSE to get the company delisted. This may be wrong but I seem to remember from other post either here or on the LSE that they only require 75% control to do this. SO the question is HOW MUCH OF THE COMPANY DO THEY NOW OWN.

[one day soon1] 09/7/2014 19:26

Hang on a minute they have only 80.5% not including the loan notes.
A poster on LSE Writes that It is a cleverly worded statement enticing us to sell!!!!

[one day soon1] 09/7/2014 19:17

That would appear to be the case Dan. But at what point does it become not valid How can they buy up the company without buying al of the shares?

[daru57] 09/7/2014 18:55

If a shareholder does not accept an offer for his/her shares and the offer goes unconditional, does the company have to pay the same price as offered to those who did not accept. I assume that the offer has gone unconditional because a sufficient number of shareholders have accepted or by one means or another the company has control of over 90% of the shares and those who did not accept have no further means of negotiating a higher price.

[rob100] 09/7/2014 18:32

so sorry for all you guys,probably lost a lot more than me here.
started to rebuild my portfolio with REM (RARE EARTH MINERALS),CTP.(CASTLETON)
check them out,
best of luck to all.

[danandrews] 09/7/2014 16:50

Indeed and while the UK AIM is at times ruthless to the investor, in reality at least it is governed by rules/regulations unlike the would be private SKR based in Kazakhstan.

Seek advice from your brokers.

[one day soon1] 09/7/2014 16:10

An Interesting point bogeybazaar,but wont the share certificates of a no longer trading on aim share become worthless once it is withdrawn from the AIM?

[bogeybazaar] 09/7/2014 15:54

Thanks for your view, augustusgloop. I'm just trying to gauge whether it could conceivably be a good risk to turn down the offer and just hang on by my fingertips as a very small minority PI in his newly-private corporate fiefdom on the off chance a serious and respectable global player makes him an attractive bid!

[augustusgloop] 09/7/2014 15:26

bogey,

no way to tell.

They promised a BFS and delivered a DFS.

What's the difference?
B=bankable
D=definitive

Bankable means that the company that produced it stands behind its validity - they thoroughly checked the validity of the input data.

Definitive means that they worked out all the figures - but took much of the data provided by the management at face value (with only cursory validity checks).

So, if the management provided false data to the report company, then the report itself is useless.

The management were working with SAPC all along - so there is no independent evidence as to the quality of the asset - since taken on by SKR.

Prior to this, its owner was willing to sell for $1m ???
And the Soviets thought it to be effectively worthless.

[bogeybazaar] 09/7/2014 15:12

Does anyone have a view as to whether SAPC thinks there is imminent huge potential and intends to make the company really rock (sorry about the pun) and rake in a huge profit after we PIs have been shaken out for peanuts, or, now that a lot of money has been creamed off and salted away whether they're just as likely to mothball the whole thing and let it all go to dust and rust?

[danandrews] 09/7/2014 13:25

So with less than 90% SAPC will use the new convertible loan notes to take over?

[one day soon1] 09/7/2014 12:10

If this goes through there are many of us who have lost large amounts of hard earned money. Is there anything else we can do?

[augustusgloop] 09/7/2014 11:49

A lot of the information that you would need to see what really went on here is on the other SKR BB (unionhall).
From mid 2011.

This BB was actually moved to at that time to provide a platform for rampers without interference (now known to be the truth) from me (ELBAN) or RED IS IN.

[the_doctor] 09/7/2014 10:26

It seemed obvious a long time ago that Sun would get this for nothing

The big question IMO is - did management deliberately allow the company to appear to fail for this to happen?

[plasybryn] 09/7/2014 10:25

Wholly unconditional. Should we now accept matters & accept the offer, or is it worth holding on further? Anyviews?

[dvsfm] 09/7/2014 10:03

where did the 29% come from?, no holding RNS over the period, you have to declare if you hold 1% in a takeover situation. some of that 29% must have come from one or more parties surely