GeoJunxion Delisting before January 18th 2024

https://www.geojunxion.com/wp-content/uploads/20231026-Shareholder-Circular-final-version.pdf

Takeover for EUR 4,6m. Distribution of EUR 1,1 per share without dividend tax. 

Share price today EUR 1,03  => 6% workout result (in 3 months? I am not 100% sure about the payment date.) 

"GeoJunxion N.V.’s entering into the SPA followed the earlier announcement of Euronext Amsterdam N.V. (Euronext) that it would delist the Listed Shares from Euronext Amsterdam, due to GeoJunxion N.V.’s recent annual accounts not having been audited by an “OOB” certified auditor."

Previous analysis:

Thursday, October 21, 2021

GeoJunxion formerly known as AND (Automotive Navigation Data) International Publishers

Conclusion 2019: The company with dozens of employees and sales of EUR 1 million (with an m) is burning through cash. It can't find a new auditor, it legally has to switch every few years... It is difficult to say how the company will do in the future. Still not an investment for the Graham Defensive investors even if the share price falls further.

Too difficult pile. Making a relatively large loss, so Graham Value could be considered to be 0. 

Book value EUR 2 including a lot on intangibles..  

Market cap roughly EUR 4m ... Loss EUR 2m.