seakelp
06 Dec 2014
Read this - vote NO to all resolutions Beacon Hill Shareholders Action Group website...read this "A chat with Justin Farr-Jones (Chairman of BHR) today" at.....[link] back against the injustice of the proposals and vote NO to all resolutions as proposed in the RNS of 01/12/2014 (Beacon Hill Resources plc Financing and Restructuring Update). To do this contact your share broker by phone or email and tell them you wish to vote NO to all 4 resolutions as detailed in the above RNS. Hurry, do this now, or 1st thing next week as time is needed for proxy votes to be counted/processed before the 17 December. As PI's this is all we can do to have any bearing on this monstrous abuse of investors.
Escovido
05 Dec 2014
Re: Holders Please Read Urgently As I understand it:They are not allowed to go below nominal value and so the fear is that, post consolidation, they can over time, dilute to 1000th as currently they are stuck at .01p and can g no lower. As a result, after dilution they COULD go to .01p again, though nothing says they definitely would.
Snowii
05 Dec 2014
Re: Holders Please Read Urgently Hesaidshesaid you are confusing Nominal Value (0.01p) with Market Value (the share price). The nominal value of a stock is fixed but that's not the SP.
Gooffy
05 Dec 2014
Jindal Will be keen for BHR to continue.I have voted NO I just feel this deal is really bad for private investors, RK seems to have ignored them as seems to happen in AIM companies. RK says admin if no deal, well how would Jindal react as I assume admin would mean the sub lease is cancelled so the trains would stop running.Anyway I am sure Jindal would make an offer to exisiting shareholders rather than admin.
hesaidshesaid
05 Dec 2014
Re: Holders Please Read Urgently waytogoBelow is direct extract from RNS:Accordingly, subject to Shareholder approval, the Directors propose to reorganise the Company's share capital as explained below with a view to reducing the number of ordinary shares in issue by a factor of 1,000 whilst maintaining the same low nominal value.The terms of the proposed Share Capital Reorganisation are such that on the Record Time every 1,000 Existing Ordinary Shares of 0.01 pence each will be consolidated into one New Ordinary Share of 0.01 pence and one 'C' Deferred Share of 9.99 pence. Save as explained below with regards to fractional entitlements, following the Share Capital Reorganisation each Shareholder will hold such number of New Ordinary Shares as is equal to 1/1,000th of the number of Existing Ordinary Shares that he or she held immediately beforehand, but the nominal value of the New Ordinary Shares will remain as 0.01 pence. The above should be the only thing that concerns you as a current holder. Ask yourself why are Darwin excercising there right to more shares pre proposal vote if not to guarantee more 'yes' votes.Speak to your broker for advice. Time is running out.
waytogo333
05 Dec 2014
Re: Holders Please Read Urgently This is not consolidation - this is 'significant dilution'. These are the exact words used by the BHR CEO in announcement.You will be wiped out.---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---The significant dilution is from the loan notes and fund raising......................nothing to do with the consolidation.The SP has gone down to where it is now because of the upcoming 'significant dilution'. So it's already priced in to a large degree.It does not mean that your holding will be worth a 1000th of what is now, just because of consolidation.
hesaidshesaid
05 Dec 2014
Re: Holders Please Read Urgently Osammy This is not consolidation - this is 'significant dilution'. These are the exact words used by the BHR CEO in announcement.You will be wiped out.
Bantam Spirit
05 Dec 2014
Re: Holders Please Read Urgently I would rather have a little bit of something (the company carries on as a going concern)rather than a large amount of nothing (the company goes into administration - assets will be sold for a song and will only just cover costs so shareholders will get ?% of nothing)Bantam...been there and done that ...both in real life as a BOD member as well as an investor/shareholder!The only way is YE
osammyboy
05 Dec 2014
Re: Holders Please Read Urgently Consolidation does not immediately affect the value of your holdingPre consolidation sp .02ppost consolidation sp .02p x 1000 = 20pBefore: 100000 shares @ .02p value £20After: 100 shares @ 20p value £20 No ChangeHowever in my experience after consolidation the sp will fall so there will be some loss in value
Hoppel
05 Dec 2014
Re: Holders Please Read Urgently Typo correction: 11.5bn shares, not 1.5bn
Hoppel
05 Dec 2014
Re: Holders Please Read Urgently Great to see that you see the asset value of the firm at GBP60m. Then, post restructuring, the share price should be near 0.35p: GBP60m less restructured debt as follows US$23.5m - US$12m + US$20m divide by new number of shares of c.1.5bn = c.0.35p. But I don't think the assets (on a going concern basis) are worth GBP60m, maybe GBP25m in the currently depressed market environment...which again would mean that immediately post restructuring share price should be c.0.04p, ie. around double what it is now (or equivalent to 40p on a basis of the consolidated share capital by a factor of 1,000). So market is currently discounting the risk of restructuring going through (lots of things need to happen). A revolt will certainly not help!
hesaidshesaid
05 Dec 2014
Re: Holders Please Read Urgently Read the RNS - the price will open up the same as the previous day.You will be diluted by 1000. You will hold 999 worthless shares and 1 worth whatever the current share price is.THE SHARE PRICE WILL NOT CHANGE TO REFLECT DILUTION !!!!!!!!!!!!I guarantee you that you will no be in the same position after the proposal goes through.I am offering this as it is now very clear not all holders understand and may be in severe shock when they see their account value after the 'significant dilution'.The only benefactors will be Darwin et al.If you cannot take my advise then please speak to your broke now who will be happy to walk you through this and also be happy to cast your vote.Either way do not sit on your hands and hope for the best.
NevilleDeVil
05 Dec 2014
Re: Holders Please Read Urgently I don't think I follow on the £1,000 to £1 point you make...I assume you are talking about the share consolidation which is 1,000 to 1 share. But doesn't that mean that shareholders will receive 1 share for every 1,000 that they did have, but it would be worth 1,000 times more - so essentially shareholders haven't lost anything? i.e. if the consolidation is done at 0.01p, you will get 1,000 times less shares but they will all be worth 10p. Isn't that right?
waytogo333
05 Dec 2014
Re: Holders Please Read Urgently Not sure you're quite right in saying that the consolidation will mean the share price will follow the same perecentage decline.The SP drop is due to the dilution from converting the loans to equity and the separate fundraising with Darwin for working capital.Theoretically the SP should be around 10p after consolidation (0.01 x 1000), but in my experience the SP quite often ends up being lower than it should. Still a horrific drop, essentially 0.08 to probably 0.01 following the RNSs.Still bothers me that by voting 'No', it will just result in winding up the company at fire sale prices and PIs ending up with nothing.If the overall vote is 'Yes' AND the restructuring elements and senior debt are all completed - will BHR be a candidate for investment by PIs. In other words, what are the prospects for the SP following successful reorganisation, bearing in mind that it will be 2016 before any cash starts to come back in?
hesaidshesaid
05 Dec 2014
Holders Please Read Urgently Good Morning All,If you are a holder you need to take immediate action and cast a 'No Vote' to all 4 resolutions. Failure to do this will result in the resolutions being passed - if they are passed then your current share value will be practically worthless.For example if even at today's market price your shares are worth £1000.00. After the passing of the proposal they will be worth £1 - Yes a quid.Voting 'no' may result in the company going into administration which means there may be a chance of shareholders receiving something back after £60m asset sales and debts paid. Alternatively the comapny may seek alternative funding which will benefit the the shareholders.PLEASE UNDERSTAND - if you do not vote, you may as well sell now as the pittance your portfolio is woth will be worth 1/1000th after the proposal.I write this as it seems some share holders do not fully understand the implications of this proposal.I quote this from the CEO of BHR:"We are cognisant of the fact that these proposals will result in significant dilution for the company's existing shareholders.If you hold shares you need to speak to your shareholder and ask them to register your vote. If any holders are unsure and are looking for more advice the BHR board on LSE is very active and has information which may assist you further.No one in their right mind should invest in this company even as a punt at todays price. You will lose it all if the resolutions are passed !!!!!!Please feel free to ask questions if I can help I will.HSSS
