Superscape Share Discussion Threads

[gmb] 02/6/2008 21:19

Thanks naed.
There must be a time limit surely!

[naed] 01/6/2008 22:28

GMB:- Reply i received late last week. Still waiting on other advice!

I too have spoken to Capita Registrars today - and it's rather like banging your head against a brick wall I'm afraid.

They informed me that the "Dissenting List" has not gone "live" yet and no plans have been made for outstanding payments to be made.

Unfortunately the term "Dissenting" is standard to all shareholders who do not get their paperwork in on time in all takeovers, so please do not be offended by the term. Take-over timetables do not take account of exception circumstances such as yours.

I will keep on at them and as soon as I hear anything, I will let you know.

[davemake] 27/5/2008 09:54

64,991 shares - still waiting for a cheque (I'm with Selftrade)

[gmb] 26/5/2008 11:05

Hot

Like you when it hit 90% I sent my shares and documentation back, but unfortunately because of no post on Good Friday they didn't receive my letter until the Tuesday after Easter Monday, missing the dead line. Although they admit they have my correspondence I am still classed as a dissenter and have to go onto the list. At least that is what I have been told now.
Mind you when I phoned after Easter to see how things were, I was told that they had received my shares and paperwork and I would receive my money within 14 days!! That was misleading as well.

[naed] 25/5/2008 19:49

Can all dissenting shareholders who have not received payments please let it be known on this board, also amount of shares held? Not sure yet what I can achieve from here as I'm in Africa for a while but I'll make contact with a few legal personnel who should be able to advise the best solution. For me this is response gmb is one I received about 5 weeks ago and I complained at the time it could just gone on and on.

[helen troy] 25/5/2008 12:37

I'm reading it with interest. Doesn't seem right. I was quite happy to put up a fight, but once they had hit the 90% it was a fait accompli and I threw in the towel.

HoT

[gmb] 24/5/2008 14:18

naed

Phoned Capita friday afternoon after posting message 21215.
Was told that all dissenter's are being put on a list by Glu!
Then when Glu decide they will work through the list and send payments.
I was advised that if I have heard nothing in 3 weeks, to phone again!!

Don't know how many people are in the same boat!
Or how many people still come onto this board to read this!

[naed] 23/5/2008 20:42

Nothing gmb,

waiting for this said two weekpriod then no choice but to seek legal advice.

[gmb] 23/5/2008 14:29

naed

Haven't heard anything and not received a penny yet.

Don't know how many have received payment, have you?

[naed] 22/5/2008 12:51

Any of you guys received your late payments yet?

[knowing] 13/5/2008 22:33

Interesting read

[abc125] 13/5/2008 22:20

From Glu's Q1 earnings release today:

First quarter 2008 non-GAAP net loss was $(42,000), or $0.00 per basic share, which excludes amortization of intangible assets of $1.8 million, stock-based compensation charges of $2.0 million, the non-equity component of the MIG earnout of $622,000, an impairment of investments in auction-rate securities of $235,000, transitional expenses of $240,000, restructuring charges of approximately $75,000 and a $1.0 million charge related to acquired in-process research and development for the acquisition of Superscape

- That $1m should have gone to sps shareholders, not Kevin Roberts!

[gmb] 13/5/2008 20:15

Thanks naed,
So 14 days and counting! From today as well! What a coincidence!

[naed] 13/5/2008 19:46

After talking to the registrar today I was informed the 13th May was the day all shares were legally bound to be purchased by Glu. It should take approximately two weeks from now to receive any funds due!
Time will tell.

[naed] 12/5/2008 22:01

I'll give them a call in the morning if I can get a line from here and let you know any result

[davemake] 12/5/2008 10:32

Here's the telephone number 08716640300

I'm a dissenter too :-(

[naed] 12/5/2008 09:44

GMB


From my broker today.

"Dear Mr Bacon
I have spoken to the company registrar again today, but they are no further forward I'm afraid with regard to dissenting shareholders (those that missed the deadline).
I will keep badgering them and will let you know if any thing changes.

Do you have a telephone number of the company registrar?

[gmb] 11/5/2008 08:14

naed

No! have not received a penny. I Was told it would be May due to the fact that I didn't accept by the 21st March

repeat of my earlier note:
I posted my acceptance in good time for the 21st, but due to the 21st being Good Friday I am told that they did not receive my paperwork until the 25th the Tuesday after Bank holiday Monday.
I was told that I would receive my money 14 days from the 25th.
I was then told that I would not get my money until May as I didn't get the paper work to them intime for the deadline.

Think its a bit much having to wait so long. Its over 6 weeks now!

[naed] 08/5/2008 18:14

GMB, have you received your share money yet? As yet I'm still owed

[abc125] 25/4/2008 14:41

Guys, I put the post below up on the 100% thread. I think this share has the potential to double in the short term.......and I would like to see other sps investors who lost money like me regain some of their losses. A note of caution however; small caps are out of favour at the moment so their are no guarantees.




Litcomp (lin). Mid price 42p. Market cap £2.5m. Sector : non life insurance.

This aim listed personal injury insurer has been mentioned b4, but I think it is worth re covering. It moved up from ofex in march 2006 with a list price of 80p. Initial bullish growth targets were not met, hence the fall in the share price One major legal issue was beyond its control however. This has now been resolved. The headline market cap is a bit misleading. Once the £3.5m convertible bonds are exchanged for ordinary shares, the market cap is closer to £10m at current prices (21m shares in total)

Fully diluted EPS were 3.2p last year and the YE results to march 31 are expected to show EPS of 5.68p, a 75% increase. (2008/9 forecast EPS 9.84p +73%). Litcomp issued an 'in-line' trading statement in Jan and directors have been buying so I expect current targets to be met. The shares are currently trading on a multiple of 7.5 falling to 4 for 08/09. That is low for the growth they are now delivering. Cautious investors might want to wait until the results in late June/early july, the share price may have doubled by then however. Last year they issued a trading update on the 29th of May and the shares shot up 34% on the back of a £0.8m pre tax profit; £1.5m expected this year.

The shares are quite illiquid, but a good broker can pick up stock within the spread so don't overpay. Some background info:



p.s. LIN will be at the Master Investor Show tomorrow.

[hamsterwheel] 21/4/2008 09:58

You'll be unlikely to get interest.
They are supposed to give interest, but are allowed (quite rightly) to deduct the costs of trying to hunt down the dissenting shareholders from any interest that accrues on the monies held.
After 10 years, any unclaimed amounts are paid into Court and it becomes a Govt problem to chase the shareholders (they of course don't).

[naed] 18/4/2008 23:04

Good luck gmb,

i was advised as below:-

Dear Mr Bacon

Depending on the amount of money due to you and how long it is held up by the registrar, sometimes they do pay interest, but not always.

For the complete answer to your questions, I think the easiest thing is to direct you to

I will be in touch again when I have more information for you.

I've done this and will let you know.

[gmb] 18/4/2008 22:08

naed
I posted my acceptance in good time for the 21st, but due to the 21st being Good Friday I am told that they did not receive my paperwork until the 25th the Tuesday after Bank holiday Monday.
I was told that I would receive my money 14 days from the 25th.
but now I am told that I will not get my money until May as I didn't get the paper work to them intime for the deadline.
So like mr Bacon, I too will have to wait!

[edmondj] 17/4/2008 13:30

Thankfully I exited by selling in the market on Monday 7th, the last day of trading, thereby booking the loss in the tax year I want and switching into CBM first thing, which is re-rating. Scope for 200p (or better) if coal prices stay firm:



Good luck to all, utilising SPS losses against the various opportunities to profit!