Have we seen a date for the FMA v Hill case? Guess Covid, and his relocation to Sydney might have slowed the process.
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Have we seen a date for the FMA v Hill case? Guess Covid, and his relocation to Sydney might have slowed the process.
Don't be too worried - if you let them go - you should be able to replace them for a fraction of your
previous cost via Sharesies & be spared receiving all the NTL junkmail while held there as well ;)
Look at it this way - the entertainment will still be free, but you wont directly receive any further
requests for donations of ever increasing loose coin to be thrown down a bottomless pit .. ;)
Gee - are NTL canvassing their shareholders on the Share Register now - trying to drum up voting
in support of the Board's amazing pronouncements on who to not support / support etc etc ?
Two reported cases so far on here :)
must be a heap more unreported out there too ..
Is this a variation of some sort of Aussie under-arm bowling session seen across the ditch ? ;)
It's surprising that the Board's Antics haven't been reported to NZReg for NZX to consider
what sort of wet bus tickets they can throw / how many for the said conduct .. ;)
With the volume of issues coming out on NTL, NZReg should establish a separate desk & complaints line
to solely deal with all the NTL issues coming forth ;)
They rang me too.
I had to make a wyse decision, so I said I was in behind Udderfield.
They said that sounds like a cow that should be put out to pasture, lol
80% of the trades yesterday (just over 8 million) went through at 0.002c.
Traded in Australia as low as AUD 0.001c.
I thought about backing the truck up, but then realised I'd missed the record date for determining entitlements to the rights issue.
Very remiss of me ;)
It was those 'loyalty shares' I was really after too ;)
They've been a real winner in the past. So have those options. :scared:
So.......for all intents and purposes.......Has the mine at Karangahape now been abandoned!?
All them Loyalty Shares being offered for getting Consolidated on & Round after Round of being diluted down
At AU 0.001 - can it slide any lower in a crack in the rocks ? ;)
Rumour has it that there is a CEO's Office, Desk & Luxury Chair which is currently vacant somewhere in
Auckland after it's usual occupier fled the scene for Aussie in a hurry ;)
From this - everyone can use their own judgement on what is happening at Karangahape .. ;)
Did most guess @ SFA upon consideration that HILL is alleged to have run away & moved his A*S off to Sydney ? ;)
How much is NTL paying HILL while he is parked up in Sydney & likely SFA tangible development is happening here ? ;)
That must be why the Current Cap Raise is being done - to help raise coin into coffers to pay for a PART-TIME CEO on FULL PAY
to park up over in OZ ;)
It looks that way..
The Company could have disclosed what sort of Consolidation they are planning - that is before issuing more shares
raising coin off stakeholders
But that didn't happen either.
No matter what they consolidate by or to - it still wont change what is there, within the NTL Companies ; past track
record & distinct lack of tangible progress over a long period of time, a CEO being very well paid with little happening apart
from coming up with a further pile of dreams (who knows without further Cap Raises - the further dreams may
likely to turn out the same way as Karangahape - progressing nowhere fast, if at all) ;)
If you have been or are a holder in NTL then on what has been seen - you are justified in being a skeptic - right ? ;)
The Notice of Meeting notes that questions are best submitted by 1pm Monday at https://ntlagm2021.chimeagm.live
It says they "will try and address as many of the more frequently raised relevant questions" which is rather evasive in my view, However, the following questions may be of interest to shareholders
1. How is the CEO able to perform his duties from Sydney?
2. Why was the recent Placement described as being "on the same terms" as the Rights Issue, when the recipients of the new shares could not have been eligible for that same quantity of Rights?
3. Why has the Placement and Rights Issue been conducted at approx 70% discount to the previous 2019 SPP?
4. Does the Chair think the Company has been well served during his tenure, which has seen the Company Market Cap shrink by more than 75% since he became Chair?
If these concern you, ask them yourselves. The more people asking the same questions, more pressure they are under to address them.
I've added ~
"In what manner has the CEO been disciplined for breaching NTL's Shareholder Communication Policy? ("The Board has directed that no member of staff or the board should post on any online forum without prior board approval and anyone who represents the company must clearly state that they are a representative of the Company.")
Excellent point Weta.
fiefdom /ˈfiːfdəm/
noun: fiefdom; plural noun: fiefdoms
1. territory or sphere of operation controlled by a particular person or group.
"a mafia boss who has turned the town into his private fiefdom"
In a fiefdom the boss or bosses just do whatever they want. They don't explain themselves to anyone, and they protect the trough to the best of their ability so as to feed regularly from the said trough while all others regularly replenish the trough, and who are ultimately nothing more than pawns in the exercise.
I'll be surprised if NTL supply an answer to your question Weta. If so, they'll fudge it by using words like 'before the courts' - 'sub judice' - 'inappropriate to comment' - 'allegations are unproven' etc.
I'll be surprised if they answer Jonus questions above too, but if they do, it'll just be rhetorical spin designed for those who still hold on to the dream.
At all costs.....that fiefdom trough has to be replenished!! :cool:
And just whom does everyone think wears the pants on NTL's Board - obviously it wont be the fill in Tea Lady,
a Hobby Miner's son, or a stand in Finance-O hailing from Oz sitting on the sideline in case someone else
gets knocked out of the play .. ;)
Who is governing who ?
Perhaps they thought no-one would notice a small policy change after the event ? ;)
Good questions Jonu btw
I figure the consolidation will be 1:10 bringing total issued capital back to 500m shares post capital raise (if fully taken up - I leave you to decide whether or not you think that is likely). This would take the SP up to 2c
Anything greater than a 1:10 would make the consolidated SP too high for a company essentially doing nothing. At 1:100 (leaving just 50m shares on issue), the SP would be 20c. No-one will pay 20c for these shares as they will soon be worth just a fraction of that, and the value of the company will decrease dramatically (market cap that is, not real value which is pretty much NIL anyway - maybe NIL would be a better ticker code going forward than NTL ?)
With a consolidation of greater than 1:10, the number of shares held by many shareholders, once the SP continues to drop, would leave them with unmarketable parcels. Would these shareholders continue to consider supporting future capital raises if they only owned 10,000 shares worth (consolidated) 5c or less ? The company cannot risk that, or risk the 'value' of the company falling to insignificance. Remember a few years back (2017) when the SP spiked to 2.5c - there were 2b shares on issue after the 3:1 issue at .005, giving the company a market cap of $50m. Now with just over 3b shares on issue the market cap is just $6m or $9m (or A$3m as of last Friday if you have shares on the Ozzie exchange) If you participated in that capital raise in 2016, you have now lost 60% - 80% of the funds you 'gave' the company. It could yet get worse after the consolidation.
So any consolidation has to take into account a realistic consolidated SP post consolidation, a big enough capital base for the company to work with for future capital raises, and also leave shareholders with enough shares that they don't consider the number they are left with as so insignificant such that they give up on the company altogether. (An owner of 5m shares being reduced to 50k, 100k or even 200k post consolidation would be pretty p***ed off as they watch the SP sink from its theoretical adjusted price). I am talking about those shareholders here that aren't regulars to this forum, i.e. those who fall into either of the 2 camps of either being 100% sceptics who have already given up, or the eternally and misguided Hopefuls watching their 'investment' $$ evaporate.
A consolidation factor too small (such as 1:5) still leaves 1b shares on issue and the SP at an unattractive 1c, so future capital raises will still have to be pitched at the sub .01 level, just hastening the SP decline back to where we are now, and making it impossible for significant sums to be raised from shareholders at subsequent capital raises. But it really doesn't matter, the decline from 2c ( @1:10 consolidation) will still happen - it will just be a more slow, lingering death, but provide the company with more headroom to continue fleecing shareholders over the medium term with more capital raises.
What value the 'loyalty shares' once consolidated ? The company proudly reported after the last loyalty scheme that holders had made 20% - 40% on their loyalty shares. Now they have lost 60%+ and will lose even more post consolidation.
Continue to give this company a wide swerve.