Thank for replying and I have no reason to think they won't act in all shareholders best interest. Have spoken to Company Secretary (Amanda) and she sounded strait up.
I am based in NZ so little harder to contact the company given the 4-5hour time difference.
Some numbers below as I see the final washup at delisting- any errors or omissions are mine. According to me Evolworld average entry price is around 35c against cash value of 39c- doubt they distribute as the holding cost would be greater than the payout. Worst option is the simply do wealth transfer over time from non Evolworld shareholders to Evolworld by inappropriate salaries, fees etc or buy an investment from associated party that is not at arms length(I have no reason to suspect or believe this would happen)
Hold with another party little over 550,000 NEN shares so am just a little bit interested on how things go.
Column 1
Column 2
Column 3
Column 4
Column 5
Column 6
Column 7
0
Action or event
Date
Shares
Price/Value
Buyback
Total NEN Value
1
On Issue Prior to buyback
2/12/2016
52,201,221
0.375
$ 19,575,458
2
Shares bought back to and price
22/02/2017
4,793,664
$ 0.2200
$ 1,054,606
3
Shares that will be in issue after buyback
47,407,557
$ 0.3907
$ 18,520,852
4
5
6
7
8
9
Evolworld stake build in NEN
10
Action Date
Buyin Date
Number Shares
Cost
% of Total
Total Cost
11
Initial stake
3/09/2014
55,300,000
0.033
10%
$ 1,824,900
12
On Market
15/09/2014
55,000,000
0.035
20%
$ 1,925,000
13
Buy offer
9/04/2015
106,000,000
0.038
37%
$ 4,028,000
14
216,300,000
0.036
37%
$ 7,777,900
15
Evolworld share number after 10:1 consolidation
16
New Evolworld holding
21,630,000
$ 0.36
$ 7,777,900
17
On Market buys
1,610,378
$ 0.25
$ 402,595
18
Buys shares on market
2/12/2016
23,240,378
$ -
$ -
19
No. of shares held by Evolworld
23,240,378
0.352
0%
$ 8,180,495
20
Current Evolworld share of Neon
49.02%
21
Delisted for awhile and relisted as Listed Investment Company (LIC)
22
Upon relisting
6/04/2016
Relisted on ASX
23
Shares consolidated on basis of 1 new share for 10 existing
24
13/01/2016
522,007,968
10
52,200,797
25
26
Evolworld stake and the option of acquiring other shareholders value in NEN
27
Current Evolworld share of Neon
23,240,378
$ 0.3907
$ 9,079,388
28
Value held by Non Evolworld
24,167,179
$ 0.3907
$ 9,441,464
NEN Price at posting:
22.0¢ Sentiment: Hold Disclosure: Held