Does the extract mean that ordinary shareholders will receive €.05 for each share?

J

Jerry27

Guest
Hi All,

This would be my first post so i am hoping someone can clarify.

Does the below extract mean that ordinary shareholders will receive €.05 for each share when company delists.

I have deleted the name of the comapny etc...just need clarification of what people think.

My opinion is one will get nothing but after discussing with a few friends they believe one is entitled to €.05 for each share

"?announces that, following the passing of all resolutions at an
Extraordinary General Meeting of the Company , the
cancellation of admission of the Company's ordinary shares of EUR 0.05 each to
trading on AIM will take effect from 7.00am on

The Board believe that it would not be suitable for the Company's
shares to be admitted to trading on AIM following the imminent disposal of the
business, assets and liabilities

Following the cancellation, the Company's shares will not be traded on an
exchange and there will be no formal mechanism for carrying out transactions in
the Company's shares."

Please advise
Thanks

Jerry
t
 
Re: I dont understand this report.

It sounds to me like the shares were due to be listed on AIM but that the listing has been cancelled?

I don't think you get anything until the business is sold.
 
Re: I dont understand this report.

They are currently trading but will be be delisted in the near future...i had a punt but looks like i will be burnt...?
 
Re: I dont understand this report.

Sorry-I'm not sure what happens in the case of a delisting-it would appear that you will still hold shares-but you won't be able to trade them other than through a 'grey' market.
 
Re: I dont understand this report.

I appreciate the reply Ccovich....was hoping to hear the magic words

" yes you will receive 5 cents per share"

My return would have been 10 fold....

Sit back and see what happens i guess.

Thanks
 
Re: I dont understand this report.

"Shares of €0.05 each" just describes the original shares issued and does not relate to any payment for same. The delisting in itself should not affect your shareholding - i.e. you should still hold the same number of shares. However it may have some impact on its value and will most likely make it more difficult to trade.
 
Re: I dont understand this report.

So at it stands i bought these shares at .007 cents......threw in about a grand..

So when it delists your opinion is that i still hold onto my share amount but the value per share will not necessarily be .05 but some other amount (up/down)?

I am not the most informed when it comes to shares....lost my saving when i was 17 with Eircom and this has been my 2nd venture...not very successful..


Thanks for the reply by the way
 
Re: I dont understand this report.

€0.05 per share relates to what portion of the original share capital each share represents. It has nothing to do with the market value of the shares now. The shares will be worth whatever a buyer is willing to pay for them at any point in time. When they are traded on an open market/exchange this is easy to determine but when they can only be traded privately it's more difficult to put a realistic valuation on them.

Why did you invest in this company when you seem so unsure about direct share investments?
 
Re: I dont understand this report.

I had an idea alright....this share is very volatile and in one days trading alone there was a return of 80%. I got trigger happy and bought a little too high..Shares stayed static for a while and have since declined.

A friend invested 2k last Nov and cashed in 18k aftte 3months...so went on his advice also...

You win some you lose some.......still good rush all the same...
 
Re: Does the extract mean that ordinary shareholders will receive €.05 for each share?

Jerry27 said:
The Board believe that it would not be suitable for the Company's
shares to be admitted to trading on AIM following the imminent disposal of the
business, assets and liabilities t
Click to expand...

I would think as an ordinary shareholder you would be at the end of the long queue of debtors looking to get their money back as this company from the above is going into liquidation?

However having said that, this seems to state that the company was only about to go public at the ordinary shareprice of €0.05, so not sure what status the shares you own are.

can you confirm through what mechanism you purchased them/where they are trading as you mentioned below.

Paddy
 
Re: Does the extract mean that ordinary shareholders will receive €.05 for each share?

Am i allowed name the company?

Bought them through BOI .....Brother works there so got discount whhen purchasing the shares..

Company is going private and are not liquidating as they have new investment in place......
 
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