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Re: imutual PLC 2011 results and AGM details
Posted: Sat Nov 12 2011 12:42pm
by BeautifulSunshine
Squire wrote:I went to the vote page and it said I cannot vote until I complete the shareholder registration.
However, I am not willing to do so yet, until I get a clear explanation of the "Call on Shares" that I wrote to you about.
It is not that I distrust you, but I remember being called on by one business a long time ago, out of the blue, and I do not want to worry about Bailiffs and compounded accrued interest, and all the other legal malarkey that I might or might not, become legally liable for.
Without some hint as to what the actual intentions are in this clause in the Articles and what might be theoretically possible in the worse case (like if the site goes bankrupt).
I cannot remember now if I saw that the maximum liability of each shareholder is confined to the nominal value of the shares when called on, or face vale, whichever is the case. That limitation would be acceptable in the case of only a few pounds or so.
Over to you Richard.
i don't know much about shares but this is worrying.
Re: imutual PLC 2011 results and AGM details
Posted: Sat Nov 12 2011 1:20pm
by kevinchess1
if this site goes bust then shareholder will not be liable same as if any company goes bust.
Re: imutual PLC 2011 results and AGM details
Posted: Sat Nov 12 2011 2:30pm
by happyshopper
kevinchess1 wrote:if this site goes bust then shareholder will not be liable same as if any company goes bust.
Is it the same for PLC's?
Re: imutual PLC 2011 results and AGM details
Posted: Sat Nov 12 2011 2:39pm
by Bruce
happyshopper wrote:kevinchess1 wrote:if this site goes bust then shareholder will not be liable same as if any company goes bust.
Is it the same for PLC's?
I'm no expert, but if I invest in (for example) Centrica plc and they go bust, the shareholders won't be liable for anything as the shares are "fully paid up" (i.e. the nominal value has been paid).
The shares we are given in imutual plc are also fully paid up. In the company's last annual report to Companies House (dated 25/06/2011), all the shares held by members are fully paid (IMUTUAL WORLDWIDE LTD and IMTL MEMBER SHARES LTD still have some part paid shares).
As I say, I'm no expert on this but talking from my limited experience of investing in the stock market. I'm sure Richard will clarify.
Re: imutual PLC 2011 results and AGM details
Posted: Sat Nov 12 2011 3:20pm
by cccashbacklover
myfyr wrote:Is there an estimate of what these shares may be worth, e.g. net asset value per share?
Presumably not very much as 100% of cashback is paid to members?
I have suggested that a 50% site gets run in parallel to the 100% site as I believe that many members would also do certain offers at 100% and 50% rate thus giving the company a nice reward for certain offers it adds to both sites, the idea would be that all offers go on this site in the first instance and that they would also get added to the 50% site should the merchants approve the offers for both sites.
Re: imutual PLC 2011 results and AGM details
Posted: Sat Nov 12 2011 3:21pm
by Bruce
cashbacklover wrote:I have suggested that a 50% site gets run in parallel to the 100% site as I believe that many members would also do certain offers at 100% and 50% rate thus giving the company a nice reward for certain offers it adds to both sites, the idea would be that all offers go on this site in the first instance and that they would also get added to the 50% site should the merchants approve the offers for both sites.
A bit like the Fatcheese/Thincheese setup?
I quite like the idea, although it would have to be worked out whether this would bring in extra income or just end up costing more money.
Re: imutual PLC 2011 results and AGM details
Posted: Sat Nov 12 2011 3:23pm
by cccashbacklover
[quote="Bruce]
A bit like the Fatcheese/Thincheese setup?
.[/quote]
Yes but with a lot more no-spend offers so I would compare idea to Getpoundsback/Crunch Cashback
Why would it cost money after all Richard has proved he can create websites on the cheap and how much a year do they cost to host
Plenty would click for 1p as well as 2p just for starters
Could make it a points site so as to get offers that arent available to Cashback Sites
Re: imutual PLC 2011 results and AGM details
Posted: Sat Nov 12 2011 5:49pm
by superman
cashbacklover wrote:myfyr wrote:Is there an estimate of what these shares may be worth, e.g. net asset value per share?
Presumably not very much as 100% of cashback is paid to members?
I have suggested that a 50% site gets run in parallel to the 100% site as I believe that many members would also do certain offers at 100% and 50% rate thus giving the company a nice reward for certain offers it adds to both sites, the idea would be that all offers go on this site in the first instance and that they would also get added to the 50% site should the merchants approve the offers for both sites.
good idea. maybe offset with shares instead of points?
Re: imutual PLC 2011 results and AGM details
Posted: Sat Nov 12 2011 6:01pm
by Bruce
Also whitelabel sites.
Many cashback sites run branded cashback websites on behalf of large organisations (e.g. VAC run the Mirror cashback website) which typically run on a revenue sharing model. If imutual could run one (or even two) whitelabels on a 50% basis (offering no shares), then this might provide additional revenue for the shareholders. Anyone have any contacts at media companies?
Re: imutual PLC 2011 results and AGM details
Posted: Sat Nov 12 2011 6:24pm
by cccashbacklover
[quote="superman
good idea. maybe offset with shares instead of points?[/quote]
That would be a nono from me
I like I suspect the majority of members here are only interested in the cashback rewards not the slightest bit interested in the shares which are neither worth anything ( nore I dont believe will ever be) nore arent paying any dividends.