Discussion of the proposed Cashback Investment Club
Moderator: CIC officers
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Boro Boy
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by Boro Boy » Wed Jun 24 2020 2:01pm
garindan wrote: ↑Wed Jun 24 2020 12:41pm
Boro Boy wrote: ↑Wed Jun 24 2020 11:52am
his is of course untested in open market where they may be worth more/less/the same
So you agree with me that we have no idea what the shares are really worth. Anyone can make up a figure of what their company's shares are worth. It doesn't mean it is true.
No... I don't think they "made up" a figure at all; I'm sure you should be aware that the figure of
£441.62 for each new ii share, is a figure calculated by a highly qualified team of accountants and submitted to the Courts by ii along with the offer documents for scrutiny as part of the take over procedure. I am however quite sure that had this figure (for what the new ii shares are "worth") would not been accepted as a true figure (along with the number of new issue shares) otherwise the Courts would have had the figures altered in the Offer Document and reissued or the take over would not now be proceeding.
I am however, saying that we do have a value of "worth" for the new ii shares and that your suggestion that some "wheeling & dealing" on the worth of the shares by ii is very far from the truth or we would not be at the final stage we are now.
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garindan
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by garindan » Thu Jun 25 2020 1:32pm
Boro Boy wrote: ↑Wed Jun 24 2020 2:01pm
garindan wrote: ↑Wed Jun 24 2020 12:41pm
Boro Boy wrote: ↑Wed Jun 24 2020 11:52am
his is of course untested in open market where they may be worth more/less/the same
So you agree with me that we have no idea what the shares are really worth. Anyone can make up a figure of what their company's shares are worth. It doesn't mean it is true.
No... I don't think they "made up" a figure at all; I'm sure you should be aware that the figure of
£441.62 for each new ii share, is a figure calculated by a highly qualified team of accountants and submitted to the Courts by ii along with the offer documents for scrutiny as part of the take over procedure. I am however quite sure that had this figure (for what the new ii shares are "worth") would not been accepted as a true figure (along with the number of new issue shares) otherwise the Courts would have had the figures altered in the Offer Document and reissued or the take over would not now be proceeding.
I am however, saying that we do have a value of "worth" for the new ii shares and that your suggestion that some "wheeling & dealing" on the worth of the shares by ii is very far from the truth or we would not be at the final stage we are now.
The fact remains that the shares cannot be traded in the open market and the value is, therefore, only as good as a paper calculation now, which may be very different if/when the company is listed. That's the crux of the issue for us as a club. I'm also always skeptical of paper valuations - they can still be "worked". Any accountant knows this. The difficult bit is arguing the figures are wrong, if they have been presented in a legal way. All this is arbitrary though, as the figures were accepted and the offer is what it is.
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BeautifulSunshine
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by BeautifulSunshine » Fri Jun 26 2020 9:14am
Nine votes cast, please vote if you haven't already done so.
[imutual Cashback Investment Club]
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Boro Boy
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by Boro Boy » Fri Jun 26 2020 4:34pm
AAAlphaThunder wrote: ↑Fri Jun 26 2020 9:14am
Nine votes cast, please vote if you haven't already done so.
Haven't you ran out of time to do anything? Did no one set a voting dead-line?
Looks like you may have missed out on free money by leaving it until the last minute, or have you...?
Last edited by
Boro Boy on Fri Jun 26 2020 4:39pm, edited 1 time in total.
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Boro Boy
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by Boro Boy » Fri Jun 26 2020 4:40pm
Richard Frost wrote: ↑Fri Jun 26 2020 4:38pm
Deadline is the 30th, 4 more days.
It takes 3 working days to register a shareholding...!
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Richard Frost
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by Richard Frost » Fri Jun 26 2020 4:52pm
Boro Boy wrote: ↑Fri Jun 26 2020 4:40pm
Richard Frost wrote: ↑Fri Jun 26 2020 4:38pm
Deadline is the 30th, 4 more days.
It takes 3 working days to register a shareholding...!
Well if what you are saying is correct, then the dilemma is over and it is all sorted.
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Boro Boy
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by Boro Boy » Fri Jun 26 2020 4:57pm
Richard Frost wrote: ↑Fri Jun 26 2020 4:52pm
Boro Boy wrote: ↑Fri Jun 26 2020 4:40pm
Richard Frost wrote: ↑Fri Jun 26 2020 4:38pm
Deadline is the 30th, 4 more days.
It takes 3 working days to register a shareholding...!
Well if what you are saying is correct, then the dilemma is over and it is all sorted.
The words "piss-up" and "brewery" come to mind...!?!
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Richard Frost
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by Richard Frost » Fri Jun 26 2020 5:05pm
Boro Boy wrote: ↑Fri Jun 26 2020 4:57pm
Richard Frost wrote: ↑Fri Jun 26 2020 4:52pm
Boro Boy wrote: ↑Fri Jun 26 2020 4:40pm
It takes 3 working days to register a shareholding...!
Well if what you are saying is correct, then the dilemma is over and it is all sorted.
The words "piss-up" and "brewery" come to mind...!?!
As you are not a member, I am not sure why you find it so concerning. None of the members seem to be that bothered about it.
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Boro Boy
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by Boro Boy » Fri Jun 26 2020 5:21pm
You may be lucky but wouldn't waste time, don't hang about...
Event Time and/or date
Court Hearing 30 June 2020
Last day of dealings in, and for the registration of transfers
of, Share plc Shares
30 June 2020
Last day of dealings in, and for the registration of transfers
of, and disablement in CREST of, Share plc Shares
30 June 2020
Scheme Record Time 6.00 p.m. on 30 June 2020
Dealings in Share plc Shares suspended 7.30 a.m. on 1 July 2020
Last time for Nominee Shareholders to notify Registrar of
Underlying Holders
Noon on 1 July 2020
Effective Date of the Scheme 3 July 20201
Cancellation of admission to trading on AIM of Share
plc Shares
7.00 a.m. on 6 July 2020
Latest date for (i) dispatch of cheques or settlement
through CREST in respect of the cash element of the
Offer Consideration; (ii) dispatch of share certificates in
respect of New ii Shares; and (iii) payment of Share plc
Share Schemes Offer Consideration
By no later than 17 July 2020
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