Gooffy
18 Dec 2014
What Now? So we got the no vote.Locomotives must be worth something[link] everything goes to auction.OrVitol make an offer?
Gooffy
18 Dec 2014
Trouble with RK He only had ears for the institutional investors, like many I had lost so much another year of maybe's hardly seemed worth it.I will avoid aim like the plague in future, lesson learned and back to work to get my savings back.If RK had made a serious attempt for private investors then perhaps he might not have to call administrators in.I did write to him but totally ignored.There ought to be a register of directors that are not fit for purpose I have two on my list.
retirefromshelfstacking
18 Dec 2014
Re: A shame..... Absolute rubbish!
clockwurktangerine
18 Dec 2014
A shame..... Many PI's who were dragged into voting no are realising the error of their ways. The NO vote now = NOWT FOR ALL PI's, no matter how low/recent they bought in.3p - 8p ignored fired those who did not sell at those levels to now sabotage all PI's chances of a return.....
dwiggy
18 Dec 2014
Re: From Share Prophets this had occurred to me also, when you think about it, the II also have much to loose. Can't believe that that 12.5% didn't have the sway here, and they swayed it to no..
suki the dog
18 Dec 2014
Re: ....sorry for suki.... oh well, life continues yes youre right , need to of done more researc
harpmandoodle
18 Dec 2014
Now there's a teasey weasey if ever I heard one! Youngsters look it up!
CStallion
18 Dec 2014
Re: From Share Prophets What if it was a plot to ensure the EGM vote was - NO?Farr may have been backed into a corner regarding funding & dilution by the debt financing. He cant tell the shareholders to vote "no" & had to issue the RNS of the proposal offered to him?Just a thought.Maybe Farr has been offered a back hander to put the company in administration.
dwiggy
18 Dec 2014
Re: ....sorry for suki.... Damn,I feel for you Suki,That's not the right lesson to learn here though, averaging down is the perfect thing to do if your long and fundamentals are solid. Of course fundamentals are not solid here...A good example is HGM, and FXPO, which have been dropping but the companies are sound fundamentally, ATC is looking pretty good in the same sector but actually selling coal at premium prices, and looking to buy another asset because demand is great... (hmm why don't they buy BHR!)My experience is to drip feed small amounts in to a company with strong fundamentals (on the dips). I only have £650 in here at 0.05p, pure small punt but I will still be interested to see what all the assets sell for, I will be surprised even in a quick fire sale this won't be worth £4-5m cash (0.1-0.12p) after flogging everything but its only speculation.Could well get zilch, time will tell.dwiggy
JamesBZ
18 Dec 2014
From Share Prophets Shares in Beacon Hill Resources (BHR) are suspended now after an EGM yesterday failed to vote through resolutions allowing dilution to oblivion. The company will probably go into administration. But now I ask Chairman Justin Farr-Jones some questions about his friend the hairdresser.I flagged up in a Bearcast the other day how a Mr Daniel Lark had invested c£56,000 last week at just 0.01p to get a 12% stake in the company. Why had he paid a premium to the price new investors would be paying if the EGM had voted yes? Who asked him to invest? Was this just a plot to ensure the EGM voted yes? Beacon refused to say whether Mr Lark had any business dealings with board members.I have tracked down a Mr Daniel Lark who has had dealings with Chairman Justin Farr-Jones. He is a hairdresser who runs the Toni & Guy salon in Bromley Kent. I spoke to him earlier – pretending to be a university mate of Farr Jones – and he confirmed that he knew him and was in regular touch.So Mr Farr-Jones, given that your pal, the hairdresser Mr Lark has lost £56,000 in a week would you answer the following questions: Is this THE Daniel Lark who owns 12% of Beacon Hill? If the answer to Q1 is YES: Did he invest his own cash to lose £56,000 in a week or did you loan him the cash or advance him the cash or agree to underwite his investment in any way? Was it the understanding that he would invest so he could support the board at the EGM? If the answers to any of the above are YES will you apologise to investors, resign at once and report yourself to the FCA for undeclared related party/concert party transactions and market abuse? If it is a different Daniel Lark who is the Daniel Lark who invested?And for Nomad Strand Hanson Ltd:1. Did you verify who Mr lark was and that this investment was kosher in every way?Merry Christmas one and all
KNEES
18 Dec 2014
Re: Its a no! you can ask KIBO for some,although they do seem to have a good home tons of the stuff, our BOD have fannied around far to long milking the market, ( 9 bob note springs to mind )
Bantam Spirit
18 Dec 2014
Re: Its a no! Sorry for everybody thinking that getting the business closed will give them some money...but no you won't get anything back now..Assets are valued based upon the company being a going concern...hence the reason why the question was not answered.Once a company goes into administration the assets are only worth what somebody will pay for them...the administrator will sell them as quick as he can to complete the liquidation and will get as much as he can. It certainly will be nowhere near what they have been valued at!. What is banked is then paid out to all creditors in a legal sequence....owners (us PIs and other investors) are the last to receive any share of the pot. All other creditors get paid first, including any outstanding salaries.So guess what....we'll get nowt!A YES vote would have been much more sensible...as I said before I would at least have got a small percentage of something and would still have been able to trade what shares I do have....there would still have been potential to get the right finances to ride out the storm and get the company eventually on to it's feet.Thank goodness the rest of my portfolio is healthy as both ACTA and BHR have hit me in the last couple of weeks...the only upside is reducing my CGT by the losses I make on those two.Merry Xmas everyone....that's a few beers less I will be drinking this year!Bantam...off out to get some coal now.
drunkasaskunk
17 Dec 2014
Re: PI Power Well said DB - AIM slackers and shysters take note!
harpmandoodle
17 Dec 2014
Thanks again
Level2
17 Dec 2014
Thanks Andy for all effort you have put in on our behalf as ahare holders. Much appreciated hope there is light at the end of a very long tunel that your efforts deserve. Cheers fella.
