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Is there a pre emption right on issue of shares?
There is a statutory pre-emption right contained within the Companies Act 2006 which states that on an issue of shares, all existing shareholders of the company will be entitled to purchase a number of those new shares which are pro-rata to their existing shareholding.
What does it mean to have pre emption rights?
‘Pre-emption rights’ are a shareholder’s right of first refusal over the issue of new shares in the capital of a company (or, if provided for under a shareholders agreement or the company’s articles of association, the right of first refusal over the transfer of existing shares).
I'm not sure Longlad , others have so can ffwd.
Shareholders can vote against it unless the company comes out with their intention prior.
All very confusing as Ed was frustrated at it being below NAV , Chairmans statement unclear, no RNS or interview to clarify in the next couple of days and it is time to ring them eh?
Are you sure about not being able to issue shares below Nav?
The last raise was in January at 8.5p which was 10% below the Nav at that time.
Has there been any further light as to what ‘resolution 5’ means?
‘ Resolution 4 provides authority for the Company to issue new shares representing 100 per cent. of the Company's issued ordinary shares as at today's date, while Resolution 5 (a special resolution) provides that equity securities issued in accordance with Resolution 4 may be issued free from the rights of pre-emption contained within the New M&As (if adopted).’
Thanks lucky orange. I didn’t realise he can’t raise below NAV. That’s great news tbh. The potential raise was a worry for some but by them saying they’d like to is effectively them saying they expect to be, as a minimum, 50% up in the near term. Leap could be great. I expect it will be. All good here
Cheers Lucky Orange. A good part to the SEED family :)
Longlad.
I guess it all depends at what price the shares are issued at?
If they are issued around our NAV say 11-5p ish then ok,or even better it coincides with sale of leap and we can then maybe issue shares from 15-20p.it would also allow thoses of us that wanna take some share of the table but also keep some here.i really like the direction of being a canabis fund but to be realistic it will probably take 5 years or so to be really making headway,which for me is worth the wait to get a good % of in quality comapnies.Unfortunately its all ifs and buts at the moment,Like a lot have already said i would like ed to be in this together with us and buy some shares,we have heard his reasons/excuses but the question will not go away until he does.
Being in FFWD is like waiting for the proverbial bus,we wait a long time and hopefully the good news comes in droves.
https://walletinvestor.com/lse-stock-forecast/ffwd-stock-prediction I know that there research might not be good but this is what some may thing of FFWD, I’m sure there not alone, now is the time to put your stamp on FFWD/SEED but like others I’d like to know your plan , should be very easy for you to come out and explain, if not like many others I find it very hard to trust the board, I wonder if FFWD still hold Portage ?
is Ed’s ongoing position of ‘being inside’ actually an endorsement of his inability to progress a project? There is this blind faith that Ed will deliver although there is nothing to show he can. Was expecting an explanation on why they want to double the shares but I guess the real bosses haven’t told him yet.
All set for another tantalising week watching ffwd paint dry
If he thinks ffwd has a wonderful future and is senior Director at R&M which invests in small caps under £100 mill the question is why wouldn't they want to be in on it?
Just putting it out there 2+2 there are a lot of incestuous relationships (financially) that have existed will exist in the future with ffwd (which seems to be a winning combination for those involved), it is a money making vehicle for them as a stepping stone to other things which Ed recently proved.
As someone pointed out they can't do a fundraise at a discount to nav, anyone else's opinion appreciated.
Why do you think this lucky orange? And what’s the significance?
Still trying to work out what they are up to barwickman , it usually involves filling their own pockets , have a peek at the ones invested in River and Mercantile , it shows it on stock screener.
I have a lack of trust in CEO's , brokers , nomads et al, it is a healthy position because it makes you look deeper into what the buggers are up to .
good find Lucky.
Hence the request for issue of shares? https://www.marketscreener.com/quote/stock/RIVER-AND-MERCANTILE-UK-M-122419162/
https://www.marketscreener.com/business-leaders/Ian-Michael-Burns-0BT6XR-E/biography/
wonder if Ed's thinking not cheap enough for me
Actual bid - offer
8p - 8.04p
It's getting crazy cheap.
Funny time of day to drop the Bid price after the last trade at 16.26, yet leave the Ask price the same, making a 0 .7p spread (for Monday morning). Looks like they want to get more Shares as cheap as possible while keeping their ASK price at 8.5 giving themselves a big leeway. We do appreciate they traded on a very small spread today. Go much lower and we may even come in again.
Yet there were approximately 175k sold and 187K Bought so why the big drop or will we see a late very high sale
it may well be normal but there past record don't look that good does it, id say every placing is less than the last one, maybe the next one will break there duck, well it should do surely.
It is normal to have the ability to issue new shares and it is necessary to create them at an agm or egm. I would speculate based on what the Chairman said that they will only look to issue new shares when the NAV gets to £50 million+. So essentially when Leap has been sold and the sp will be say 25p. The new shares will be issued at that price to create a fund of circa £100 million to make serious investments in the Cannabis and wellness sectors. That would allow investors to get out at a good profit if they choose when the Leap money lands. Just my thoughts if I was sitting in Ed’s shoes.
LEAP has been going to IPO OR sold in the next Q something or other for a very long time. Tomorrow has always been a very strong promise for years.
So just forget it and wait until something actually happens .
Big boys are not interested, yet, until some firm news and a rise in the NAV occurs SEED will fiddle along.
Six years we have been hearing the same old promises and upbeat statements from some of you who would have been better occupied living instead of posting any little news you spent hours searching that is relevant to FFWD / SEED. Whatever good things you post do not do the slightest good to the SP and read by very few at a guess.
You either feel it is worth investing in SEED or you sell up. We own a few hundred thousand shares and do not intend to increase towards the million mark.
WE DO THINK IT IS WORTH HOLDING ON TO THE SHARES WE HAVE, AS WE MAY DOUBLE OUR MONEY, PLUS. Doubling we could have done investing elsewhere over the last six years. But we fill our ISAs with them just incase there is a massive breakthrough
yes he did say 50mill, don't forget the possible 100% new shares now, why rush that if he thinks we get loads for Leap, no good being awash with cash if you don't put it to use.
But he has given a very big hint that Leap is worth a lot of money by saying we will have a £50 million + market cap by the end of this year. The only way that will be achieved is Leap bringing in a very large sum. I believe we are in for a very pleasant surprise. Remember Ed will have a very clear idea of that sum as he is involved in the process as a Director of Leap.
I'm sure its calendar, Ed been working with Leap nearly 7 months now on IPO/Sale, no feedback on how its going but that's no surprise really
Does anyone know when Ed mentioned Q3 IPO - is he referring to calender Q3 or financial year Q3?
Do we think South West Brands have been retained by FFWD in connection with the rebranding to SEED?
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