SMW rebirth from AOR.

[whatsup]

A back door with only 400,497 shares on issue, any info out there?

[Joshuatree]

Yep history repeats

AOR will also be undertaking a 4138.489605 : 1 Share Consolidation.

Listing number 8
https://businessdesk.co.nz/article/b...e5Mqyu4qguQDiI (https://businessdesk.co.nz/article/brian-gaynor-backdoor-listing-no-8-chris-castle?utm_source=facebook&utm_medium=social&utm_campaign=gaynor-castle&audience_name=BRIAN+GAYNOR%3A+Chris+Castle%2C+who+ has+been+involved+with+NZX+companies+for+nearly+45 +years+with+little+success%2C+is+participating+in+ another+complex+backdoor+listing.%0A%0Ahttps%3A%2F %2Fbusinessdesk.co.nz%2Farticle%2Fbrian-gaynor-backdoor-listing-no-8-chris-castle%3Futm_source%3DFacebook&fbclid=IwAR1zNLhv1FvUkYycCB5Olz_W5qVt1JYiqQ1OOVtif CqXxe5Mqyu4qguQDiI)

[kiwidollabill]

Who buys this stuff? Surely CC has run out of Friends Family and Fools?

[Joshuatree]

He keeps finding them Beware imo.

[Sideshow Bob]

Probably seen the rise of Sharsies……..;)

[NeverQuestion]

Who buys this stuff? Surely CC has run out of Friends Family and Fools?
We need to report this guy Seriously.. CC needs to be next for an investigation I think.

[blackcap]

We need to report this guy Seriously.. CC needs to be next for an investigation I think.

As much as I loathe his modus operandi, (and to be fair he has had some rotten bad luck too) there is nothing illegal in what he is doing, it is reasonably transparent and if you don't like it, don't buy the shares :)

[percy]

As much as I loathe his modus operandi, (and to be fair he has had some rotten bad luck too) there is nothing illegal in what he is doing, it is reasonably transparent and if you don't like it, don't buy the shares :)

He is like the cartoon character in Energiser Batteries ads.Just keeps bouncing back.Don't think any of his companies have ever made a profit,but this time it could be different.,.lol.
Always fun to watch from a save distance,with no capital at stake.

[whatsup]

So already a T O offered .

[nztx]

$4.30 adjusted SP value must be a good $1 Aussie buy after all for the major stakeholders

With this nonsense & just 400k or so adjusted reconstituted reorganised shares on the board - why did anyone bother doing a reverse listing anyway for the outfit that got backed into the listed shell ?

[Snow Leopard]

The only questions that needs asking (and answering):
What is SMW actually worth per share;
Do you want to buy any at that price.

Although Chris is an independent director (as is Jill) it is now not a Chris Castle company.

Q. What is it worth?
A. I reckon no more than $0.75 a share at present, based on sketchy information.

Q. Will I buy any at that price?
A. No. If it becomes sufficiently liquid then I would look at it again, but until it does I am not interested.

[whatsup]

The only questions that needs asking (and answering):
What is SMW actually worth per share;
Do you want to buy any at that price.

Although Chris is an independent director (as is Jill) it is now not a Chris Castle company.

Q. What is it worth?
A. I reckon no more than $0.75 a share at present, based on sketchy information.

Q. Will I buy any at that price?
A. No. If it becomes sufficiently liquid then I would look at it again, but until it does I am not interested.

Snowy, but its under a T/O at present ?

[Snow Leopard]

Snowy, but its under a T/O at present ?

Whether it is a reverse takeover or a normal ( forward :confused: ) takeover once you get to owning 90%+ of the company you have an obligation with an option.

The option, which is usual taken during a normal takeover, is to compulsorily acquire the remaining shares at the takeover price.

The obligation, which is what this recent takeover notice is, is that the dominant owner will buy at the takeover price any shares that the minority shareholders decide to sell.
The intend outcome is that this 'takeover' fails and the company has a number of shareholders.

I note a current bid of $1.10 and a current sell of $1.50. Let us see where it actually trades, if it ever does.

https://www.thehindu.com/sci-tech/energy-and-environment/5h5p8v/article29779617.ece/ALTERNATES/FREE_660/24TH-LEOPARD

[tim23]

Whether it is a reverse takeover or a normal ( forward :confused: ) takeover once you get to owning 90%+ of the company you have an obligation with an option.

The option, which is usual taken during a normal takeover, is to compulsorily acquire the remaining shares at the takeover price.

The obligation, which is what this recent takeover notice is, is that the dominant owner will buy at the takeover price any shares that the minority shareholders decide to sell.
The intend outcome is that this 'takeover' fails and the company has a number of shareholders.

I note a current bid of $1.10 and a current sell of $1.50. Let us see where it actually trades, if it ever does.

https://www.thehindu.com/sci-tech/energy-and-environment/5h5p8v/article29779617.ece/ALTERNATES/FREE_660/24TH-LEOPARD

Thanks - so are you saying the takeover was triggered as a requirement by virtue of the listing process?

[Snow Leopard]

Thanks - so are you saying the takeover was triggered as a requirement by virtue of the listing process?

Yes, that is correct.

[whatsup]

Yes, that is correct.

Soooooo, what/where is the future of this out fit ! ?

[Snow Leopard]

and it trades :eek2:

242 @ $1.10 - Like wow :ohmy:

[whatsup]

and it trades :eek2:

242 @ $1.10 - Like wow :ohmy:

and I thought that the minimum trade was Au $600-00 ?

[nztx]

De-listing Application

https://www.nzx.com/announcements/389960

Things don't look too inspiring from the announcement ;)

A sneaky 4.55pm Friday Announcement many will have missed

but wait - are many interested in or following SMW at all ? :)

Hopefully Mr or Ms 242 minority holder gets out in time so as to not be a locked in
captive holder with no way out, aside from donating the holding onto some other
lucky holder (No fun in being Qexed in, is there ? ;) )

[Grimy]

Thanks NZTX, I certainly missed that-but with only 145 shares I try not to think about it much.......

[Grimy]

And as there are no bidders I think I will continue to not think about it much!