U.k. Spac Share Discussion Threads

[masergt] 01/2/2022 18:01

ashleyjv. Go on then. Bid me on c.2.4m.

[ashleyjv] 01/2/2022 16:56

masergt.
I'll buy your holding off you if you like, from reading your posts you obviously won't want that much money for them as you have already written them off

[bossyboss] 01/2/2022 15:53

Guys , I've tried to post this before but it won't load.I spoke to Peterhouse last week who advised deal will take 3-4,weeks more to close .. no need to worry .

[threeputt] 01/2/2022 13:00

Discourteous indeed, I was fortunate to have had some good shares recently to mask the small loss I've been forced to admit here.
Poor show

[puzzler2] 01/2/2022 08:00

The deadline of 31 January has come and gone, but no comment from the directors prior to this morning's opening? Discourteous to say the least.

[masergt] 31/1/2022 23:17

furry - been a bad few days all round with governments home and abroad playing with fire for personal gain. Too much high level brinksmanship; sod the voters, I'm still in charge kinda thing. Not good for any markets.

mucho - UK Spac Plc will not be wound up as a result of delisting though I'm not sure what their official status will be once they're no longer "Public". They will continue as a private limited company of which we will remain shareholders until such time as a new deal emerges and the BoD successfully applies for a new listing or they decide to dissolve it. A dissolution requires the BoD to propose an equal distribution of all remaining cash and assets to all shareholders (after expenses, mind you!) and for us all to vote on it at a GM.

I'm curious as to our founding investors positions - Messrs Raglan Road Capital, Christopher Potts, Richard Edwards and Sanderson Capital Partners - who between them coughed up for ~17% of SPC. Potts had already cashed in half his 4.98% investment on 25/03/21 and Edwards sold his 3.78% down to below the 3% reporting threshold on 09/04/21 which means he may have cashed out completely but we won't know. There are no TR-1's from Raglan or Sanderson so I assume they still hold, but Peter Jay has refused to say.

It is, however, reported that on 26/03/21 our esteemed Exec Chairman gifted his 18 million free shares in equal parts to three family members at no cost. He'd held them for precisely 23 days but fortuitously was just in time to suitably account for them before the 2021 tax year end. These family members are now in the same boat as us. "Ah, diddums" I hear anyone say? Not if they were likewise fortuitously monetized prior to suspension.

Not to worry either way though; PJ held on to the 46.3m options granted him by the BoD (ie., himself + his two non execs) as did those same two non invested toxic (see previous) non execs hold on to the 32.4m options that they each received. As per the 03/03/21 RNS: "The options granted are exercisable at the a price of 0.1975 pence each, vest immediately and may be exercised prior to (and including) the day falling on the first anniversary of grant. If an option holder leaves the Company, such option holder may, at the discretion of the board, retain any vested share options."

So if there is a bright side to any of this they've got until 3rd March - precisely 31 actual or 23 business days - to pull something out of the bag and save their options before they expire. Unless, of course, "at the discretion of the board", as they say, they decide to extend them.

I'll not be holding my breath on that one either!!

[muchodinero] 31/1/2022 22:07

As I said weeks ago, shareholders have in all likelyhood been screwed over one has to assume, despite boxerdogs eternal optimism?

[furryguy] 31/1/2022 20:58

Thanks masergt - clear and unbiased answer. I've not had a great week last week and this just about sums it up! Oh well, possible taught me something.

[muchodinero] 31/1/2022 19:08

Hi Furry… you won’t get a sensible answer here. I don’t see either how they will keep in touch with existing shareholders once the UK Spac is wound up in the coming days. They might just start a new company with new money so existing shareholders may get nothing by the look of things, who knows?

[furryguy] 31/1/2022 19:01

What a freakin weird board...So can anyone answer my question. What happens to our shares on delisting (today or whenever)?

[boxerdogz] 31/1/2022 18:48

Yep it's Muncho all right , what a toolz

[furryguy] 31/1/2022 17:45

You are weird.

[furryguy] 31/1/2022 15:45

Ash, with respect, it does not seem that unlikely since the delisting date has been given and they have suddenly been moved to zero value. I meant what position are we in re. a future company, not will we get an RNS!

[ashleyjv] 31/1/2022 15:42

If in the unlikely event that they do de-list, you will see an RNS, they don't just switch the lights off and go home

[furryguy] 31/1/2022 15:39

Yes, but they had a value. Today that moved to no value.

[ashleyjv] 31/1/2022 15:37

They have been suspended for months

[furryguy] 31/1/2022 15:14

they are showing as delisted in my account.

[ashleyjv] 31/1/2022 14:55

Why do you think they are delisted?

[furryguy] 31/1/2022 14:50

Masergt (or anyoNE)...since the shares are delisted do we all lose our money or if the new company lists eventually will we still be shareholders in that company? Thank you.

[furryguy] 31/1/2022 14:09

jones2810 have you emailed Jay again?

[furryguy] 31/1/2022 11:22

What info does the guy running the Telegram group have to share with the rest of us?