Sunkar Share Discussion Threads

[paulb10] 16/7/2014 20:43

Can anyone post a link to the skr share price on the KAZ exchange.

[oilbethere] 16/7/2014 17:53

IG are now offering option of declining the offer.

I will be doing so with my 300,000 shares.

Already refused offer for fully paid up 125,000 shares.

[miss ann thrope] 16/7/2014 16:13

mike1962


Do NOT accept is the default action if ignored, how can they have removed your shares? Whomsoever "they are?"

[danandrews] 16/7/2014 15:23

Mike i have found the following rather helpful.

[e-mail]
[e-mail]

[mike1962] 16/7/2014 14:19

The scam was a long time in the making that is clear.
I dont look at my shares account that often [my fault I know] as I only have SKR left but I was shocked to see today that my shares have been removed and I a wait a token of the original value ?.
I will be writing to the FCA [formally the FSA] although I dont hold out much hope as my previous dealings with them were a complete waste of time ?.
I am disgusted with these actions and feel there is no one who I can turn to ?.

[one day soon1] 16/7/2014 13:52

Totally Agree Mike! It is so obvious that they are in collusion together to sweep up the shares at 1.853p.

Send an email to the fsa Many have already and just pray that they look into this blatant scam of vast proportions.

[mike1962] 16/7/2014 13:45

What a disgrace by the Sunkar board of directors ?.
How can they be allowed to get away with what has happened.
This company have done nothing other than string us all along for a long long time only to find we have lost a small fortune.
Absolutly disgraceful.

[vikingwarrier] 16/7/2014 12:53

I think its best to take your losses and get out of here really. :-(

[augustusgloop] 16/7/2014 00:47

Gekks

Most IIs use stop losses and so will have cleared out long ago.

Those with very large holdings (VGM = Sprott and CNZ) I assume will take any get out option that is available to them.

For VGM, I doubt a miracle - and you know how much money they need - so expect massive dilution.

For SKR, I wouldn't trust the new owners and the directors one bit.
I doubt that you will get more than what you are offered now.
Plus, later there may be fees and very large currency exchange costs.

[gekks] 15/7/2014 23:55

Elban, With both VGM and SKR delisting - do you think the II will still hold if they think they are likely to be shafted, I hold both and not sure whether to stay in case a miracle happens - rather than get a £2k return from £50k .

[augustusgloop] 15/7/2014 23:50

paulb,

you will have currency charges - plus I very much doubt that you will find a broker that deals on the KAZ exchange.

And they will not be on the KAZ exchange for long - they will take it private soon.

Plus with SAPC holding nearly 90% of the shares, where will be the liquidity? -- expect a massive spread.

Do they even have proper MMs over there?

If you look at the MML thread when they delisted a couple of months ago - you will see the difficulties -- and they were dual listed with the ASX.

[paulb10] 15/7/2014 22:14

OK thank you DAN now we are getting somewhere. The difficulty of finding a broker who deals on the KAZ and transfering your shares to them is no problem if you hold an international account with lets say a major bank, then I would assume its basicilly automatic IS THIS RIGHT ?. Assuming that your personal broker does not deal with KAZ and you do not hold an international account, then I would assummme on issue of your shares certifificate you transfer your shares to a broker who does deal with the KAZ exchange and open up an account. It is not beyond the WIT OF MAN.

[danandrews] 15/7/2014 20:52

I believe the shares will transfer to certificate form, the difficulty is finding a broker that trades on KAZ exchange. Also be wary of the threat of further dilution which is inevitable.

The addition to the Kaz was a pre-condition to the conversion of SAPC investment into equity, details below. You could suggest that this was key to SAPC overall plan of takeover, as taking SKR private rather than the current likely outcome would have cost more.

Sunkar Resources plc. (AIM:SKR) is pleased to announce that, following the Kazakhstan Stock Exchange (KASE) Listing Commission's decision on 30 November 2012, to accept the listing of Sunkar's issued share capital to KASE (the "Listing"), the Company's ordinary shares of 0.1 pence each ("Ordinary Shares") (GB00B29KHR09) were listed, effective as of today, to the third category of KASE. The Listing was a pre-condition to the investment by Sun Avenue and Partners Corp ("Sun Avenue").

As announced on 15 October 2012, the Company will now seek permission from the National Bank of Kazakhstan to issue 174,476,283 new Ordinary Shares ("New Shares") to Sun Avenue upon the conversion in full of the US$12.8 million convertible loan notes ("Convertible Loan Notes") held by it.

[paulb10] 15/7/2014 19:52

IF they delist, from the LSE, which I believe will happen. Then what does this mean for the remainder of the shares that were listed on the LSE that SAPC have been unable to purchase, assuming that SAPC do not reach the 90% compulsiory purchase figure. Ive read on lse that they will not delist from the KAZ exchange (I suspect for political reasons) I seem to remember from the past that they had to be listed on the KAZ for whatever reason. QUESTION WHY ??????. WHAT does this mean for LSE holders in terms of the liquidity of their shares.

[j0no5] 11/7/2014 13:08

SAPC do not have enough to make anyone sell.
They have "applied" for de-listing, which has not yet been confirmed by LSE.

I am waiting and holding to see hoe things play out..

[chway14] 11/7/2014 09:01

How ironic is this.
A few months ago when the share price was around 5.5p and falling daily,I e-mailed Nurdin and told him I had sold 50% of my SKR holding and invested it in REM.
I also gave him the facts about REM saying that he could recover some of his losses by investing in REM.
He replied back saying he was pleased that REM was doing well for me and wished me good luck.
Now wasn't that odd coming from a BOD member being pleased with my REM investment.
One would have thought that he would have said that I was possibly missing out on SKR's potential but he didn't.
I took that to be a negative sign and thankfully I sold out my entire holding of SKR a couple of weeks later.
Glad I did as to what has now happened and the best of it is that REM has gone up from 0.82p to 1,81p and still climbing.
I hope that SKR holders get a better price which is what you deserve for being faithful over the years.

[miss ann thrope] 11/7/2014 08:35

What an absolute disgrace

[augustusgloop] 10/7/2014 21:38

And anyway, once delisted, they could issue shares to the directors (as a 'reward') and again they have over 90%.

The whole system stinks!

The odds are stacked.

[augustusgloop] 10/7/2014 21:36

dan,

they will have about 85%.

they are probably mopping up in the market now.

Add in the ones that sell just prior to delisting - surely taking them above 90%.
All they need to do then is make a low offer after delisting - and there is no longer 10% free to oppose.

[danandrews] 10/7/2014 21:24

Thanks j0no5 - So even with the loan notes converted, this would increase the holding agreeing to the offer price from 80.96% (RNS 7894L) to 82.69%?

[danandrews] 10/7/2014 19:47

Question

I refer to the RNS dated 7th April 2014 – RNS number 1556E

Within which the following;
The CLN may only be converted in the event that the MINT waives its rights to acquire the Ordinary Shares arising on conversion of the CLN. The CLN is convertible into a maximum of 34,065,202 ordinary shares of 0.1p each in the Company ("Ordinary Shares") at a price of approximately $0.0376 (approximately 2.2p) per share. Conversion would increase SAPC's interest in the Company's share capital as enlarged by the conversion from its current 51.15 per cent. to 55.59 per cent.

This outlines that the proposed loan may be converted to CLN increasing the holding of SAPC from 51.15% to 55.59%.

I now refer you to the RNS dated 9th July 2014 – RNS number 7894L

Within which the following;
In addition, SAPC owns US$1.28 million of US$1 convertible loan notes which, if capable of conversion and if converted, would equate to 34,065,202 Sunkar Shares, representing approximately 9.08 per cent. of Sunkar's issued share capital as enlarged by such conversion.

There appears a difference in the potential impact of the CLN, the initial being an increase to SAPC holding of 4.44%, to the second which increases this to 9.08%. The Shareprice certainly does not reflect this large disparity.

Am i missing something?!

[one day soon1] 10/7/2014 12:04

Thanks for that Skipper very Interesting. I am holding on for a bit longer hope something might change here! Many Investors seem to be contacting relevant Authorities over this too!
Please keep us informed!
Cheers!