1¢ Magenta Anyone??



  • 60% of the 51% maybe?
  • The 60% thing is totally misleading. Firstly, the debt loan agreement states that Phoenix need to give the approval for the stamp to sell (removing voter rights to choose to accept an offer). The PDS by Showpiece state that Stanley Gibbons will determine which offers are presented to voters (indefinitely). So basically, anyone who bought this dud, will only get to vote once a decision has already been made.

    Of course, nothing in any of the clauses as to what is considered a reasonable offer in which shareholders will get to vote.

  • It seems this is a lot of verbiage about whether or not a duck is a duck. Gentlemen, this is a duck, and I will happily wear my hat another year.
  • And a nice hat it is I'm sure! :smiley:
  • Phil, your hat is in no danger for another decade I would venture...
  • Hmmm....nearly 50000 out of 80000 shares sold....to only 1100+ collectors.

    So...the "average" buyer is laying out about $50000.

    I finally took a close look at the numbers and the only way an owner makes any money is If the stamp sells for more than $20 million.

    But if someone ever offers that much, the shareholders (not SG) decide whether or not to accept.
  • Kris, your numbers are slightly wrong...

    80,000 fractions total are available. SG withheld (not purchased) 39,200 of those (49% of available fractions). Its in the fine print under the 'amount owned.' That means only 40,800 are available for purchase by the general public.

    Out of the 40,800, 10,308 have sold in just over a week.

    8115 were sold in the pre-release period of 48hrs. 2185 since public launch over the last five days. And this figure has died off very quickly.

    This leaves 30,492 available - just shy of 13% sold.

    A total dud.
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