Superscape Share Discussion Threads

[hamsterwheel] 17/4/2008 13:23

naed - they have a duty to try and distribute the money, but ni strict time limits to do so. A few weeks sounds very reasonable.

[naed] 17/4/2008 12:59

Dear Mr Bacon

I have spoken to the registrars today and they confirm that they have received your paperwork.

However, as you did not reply by the last "closing date" you are now on the list of dissenting shareholders. This means, unfortunately, that they will sit on your money until they decide to review the list of dissenting shareholders. The person I spoke to was quite confident that this would be resolved in the next couple of weeks, so if it is alright with you, I will ring them in a fortnight and let you have an update then.

Kind regards.

ANYBODY ANY THOUGHTS ON THE LEGAL SIDE OF THIS?

[naed] 17/4/2008 12:57

Dear Mr Bacon

I have spoken to the registrars today and they confirm that they have received your paperwork.

However, as you did not reply by the last "closing date" you are now on the list of dissenting shareholders. This means, unfortunately, that they will sit on your money until they decide to review the list of dissenting shareholders. The person I spoke to was quite confident that this would be resolved in the next couple of weeks, so if it is alright with you, I will ring them in a fortnight and let you have an update then.

Kind regards.

ANYBODY ANY THOUGHTS ON THE LEGAL SIDE OF THIS?

[helen troy] 16/4/2008 15:05

Cheers naed. I made a lot of money in PIC. Averaged down to 42p. The disaster was coming out and putting the profits into SPS! But I think PIC it will come good over the next few years. Yes, banks look interesting. Was tempted with BARC but the funds weren't available.

HoT

[naed] 16/4/2008 14:51

Thanks HOT,
I've emailed my broker with the enquiry also. I'll post back my results in-case there are others in the same predicament as myself. Good luck with PIC, held for a long time......another disaster, now's probably a good time though. RBS seem a good bet to me maybe next month pending no more disasters.

[helen troy] 16/4/2008 14:28

Been in and out today figure6 and made just over 2p a share. Solely based on the way the trading was going.

I wouldn't touch this one with a bargepole. It looks very similar to SPS, MDY, and I suspect OMH will go the same way. There is nothing to stop MDX going for an approved price and the directors lining their pockets liked they did in SPS.

I'm into PIC and expect to do well there.

Good luck.

HoT

[figure6] 16/4/2008 14:12

MDX now 77p,still time to buy before the big offer Hot.

[helen troy] 16/4/2008 14:09

I'm no expert naed, but have a read at the RNS of 25th March.

On 7 March 2008, the directors of Glu declared the offer unconditional in all
respects and announced that the Offer would remain open for acceptances until
15:00 (London time) on 21 March 2008. Accordingly, the Offer is now closed and
is no longer capable of acceptance.


On 20 March 2008, the directors of Glu announced that as soon as reasonably
practicable Glu will apply the provisions of sections 979 to 991 (inclusive) of
the Companies Act 2006 to acquire compulsorily all remaining Superscape Shares
on the same terms as the Offer. Accordingly, in due course Glu will be posting
formal notices pursuant to section 980(1) of the Companies Act 2006 to all
Superscape Shareholders who have not yet accepted the Offer. Superscape
Shareholders who have not made an application to court under section 986 of the
Companies Act 2006 within six weeks from the date of the formal notice will have
their Superscape Shares transferred to Glu pursuant to the compulsory
acquisition procedure under the Companies Act 2006.


Settlement of the consideration due under the Offer will be effected on or
before 4 April 2008 for Superscape Shareholders who have already validly
accepted the Offer.

The first para states the offer is now closed and not capable of acceptance.

I presume they are now operating the process in the second para, where they will compulsorily acquire your shares from you. It does seem to give a six week date for you to raise a legal objection, so probably you are in that period. After that six weeks is up, they will acquire your shares and settle with you.


Anybody more expert care to correct this interpretation?

HoT

[naed] 16/4/2008 13:39

I posted my shares late(179,000), as I'm working overseas. The share certificates were sent registered mail and arrived on the 27th March 2008. As yet I have received no payment, can anybody advise or give telephone numbers so I can chase this??
Thanks

[helen troy] 15/4/2008 14:52

MDX are now 70p

HoT

[trojan] 02/4/2008 10:08

I know what you mean and I have to say that my instinct tells me that it won't make much of a difference at all but if I come across any one that trades more frequently using it I'll let you know their thoughts.

I have only been away from the screen for 7 weeks but it feels like 7 months!!!

I hope we get some stability back soon in the markets and hope that this year we don't see the usual sell off around May time as I have some ground to cover after my brief spell away.

[edmondj] 02/4/2008 09:59

I am weighing up whether DMA via idealing really makes much difference; I already have three brokerage accounts and don't want to keep adding unnecessarily; but iDealing seems to get good remarks.

[trojan] 02/4/2008 09:55

EJ..

I have to say that they have been bloody good for me over these past few years with no problems at all and there is a number to call them on if you need some help or wish to trade outside the NMS etc.

Re the direct access, it's hard for me to comment too much on due to not trading as much as I used to as I have just had a brief spell back in the real world, collecting a pay packet!! That said I am now back in front of the screen again and will see what difference it really makes if anything at all.

[edmondj] 02/4/2008 09:49

Do you find the Direct Market Access via iDealing really makes a difference for you?

[trojan] 02/4/2008 09:48

Yep my money now all in the bank and the last lot was only accepted by me less than 10 Day's a go (iDealing.com)!!!!

[davemake] 02/4/2008 09:43

Thank you for your recent message.

We expect the proceeds from Superscape to be credited to eligible account mid April although no definitive date has yet been announced by the company or the company registrars.

If you have any further queries please do not hesitate to contact us.

Regards

xxxxx
Selftrade Customer Services

[d57] 01/4/2008 23:29

I capitulated on 14/3 (see post 1109) and received my money (via Selftrade) on Friday 28th...... so the 14 day acceptance/payment period seems to be working.

[gmb] 01/4/2008 22:15

Glad you got your money nicandy, I phoned CREST to see where my small return was, and was told by the lady on the phone that Glu hadn't declared unconditional yet!!!! I informed her that the BB stated that Glu had made a statement that it had over 90% of the shares and had delared unconditional.
Strange that the share dealer didn't know that don't you think!!!

Having informed her of the situation , she then said that I would receive my money in 14 days following the 25th March.

Have we all been conned I wonder!!!

[nicandy] 01/4/2008 18:30

I think you'll find it was a few years back....correct me if i'm wrong.

[edmondj] 01/4/2008 17:42

It was CCS (Country Club Stock)

Moral!

[ride daice] 01/4/2008 17:32

SPS was not aim.

[nicandy] 01/4/2008 17:30

Well I've got my money but made a loss in total.....7 years of investing in this company.... was told so many lies & false hopes just to keep us giving them money to waste & just when a glimmer of hope that after all that time some rewards might be coming the thieving directors sold the company on the cheap to full their own pockets.....lessen learnt here....if you invest in AIM stocks like this then don't invest money you can't afford to lose!!!!!

[abc125] 01/4/2008 16:49

Paul...sps had a 187 employees if I remember correctly...quite a few lay offs then. Glu are gonna be quids in, on a medium term view.

[ride daice] 01/4/2008 15:14

Well Paul,

I'm not convinced about it being fun....with hindsight it's been a total waste of time and effort. I'm sticking with my oil investments for the time being.

Having said that i've got my eye on a very promising tech minow. They are currently making a loss, but they could have a bright future in a decade or so. They need to raise some more funds in the market soon so I am thinking of subscribing for a few.

I am particularly encouraged since analysts reckon that the market for anti-gravity hover boards could be worth $4.6 trillion dollars by 2020 and we only need 5% market share of that.......

;-)