Could you offer some possibilities why the price dropped from the initial offer price of 0.001BTC to 0.00015BTC, a whopping -85%? As an investor, it really pained my heart to see the price of such a good security dropping so much.
I think a full refund is the only acceptable buy back price but even that I personally wouldn't want to sell back at due to my valuation of the shares.
Thank you for making comments worth reading. However you should realize that 'full refund' IMO is not the right wording here; no one is refunding anyone, this is a buy back process and although you and some of the investors and/or outsiders to this process may feel the pricing is low please consider that there is no obligation for anyone to 'refund' nor to buy any of these units at a higher price than the last seller's price previous to our first information re. to a potential buy back.
I do not think any investor on Havelockinvestments.com is asking any fund to 'refund' their units based on the original IPO price, this would seem a dangerous precedent and in disregard of basic fundamentals of the investment process. SF1 Funds have been raised (back in January) and invested, any other operation such as this buy back process is a completely separate process, made with privately raised funds which could have been used for any other operation.
Well you have to understand from the communities perspective you provided the fund per the terms of the prospectus. A buy back while indicated in there required a liquidation, accusation or other major event affecting share holder structure then the fund may be closed. The only event I can see was poor performance of the pricing which did not affect shareholder structure. People bought in at 0.001 then just under a year later are being forced to be bought back at 0.00045 for no real reason. Many including myself want to keep this regardless and as stated before I do hope to be able to convert. Many may still feel this way but can't convert.
Like you said the value of the shares are much higher than the prices being bought back at. Whose the one profiting from this transaction? The company buying back is getting the identical shares everyone paid for at a dramatically reduced price. If people felt the security was worth 0.00045 they would have placed sell orders at that price.
The issue isn't that your closing down the fund on Havelock. It's that your forcing people to sell something they don't want to sell at a huge reduced price because others have sold at that price or lower previously.
If I sell you a security at 0.001 and the companies are doing well and growing then I shouldn't be forced to sell back to you at 0.00045 because someone else sold for cheaper than that. As a venture capitalists what would you do if you invested money and had the same thing happen to you?
As well I would really like an answer about conversion of US shareholders to SHL holdings.