"Will Daniel Stewart relist? Following consultation with key advisers and major shareholders, the Board of Directors concluded that it was in the Company’s best interest to cancel its AIM listing and this took effect in January 2016. We are aware that a number of smaller individual shareholders are keen to have some form of dealing facility in place in order to facilitate a level of liquidity. However, in the short to medium term, becoming a private company will give us the breathing space to put in place plans for the future development of the business and allow us the time to determine the optimal listing or dealing status for our shares. The Board continues to assess the options available in this regard and will be exploring a number of possible solutions including creating its own private trading facility and joining an established platform for trading shares in private companies, although no definitive time frame has been set for this. Concurrently, the Board will assess the merits of re-listing the Company’s shares on a publicly traded market, although this option is not under active consideration at present. In the longer term we wish to help all shareholders receive value for their shares and as our plans evolve we will keep shareholders informed. Thank you for your patience and your continued support."
quob wants (needs?) to raise money and also dan needs to raise money.
so quob, which needs extra cash, offers to lend cash that it's already a bit short of, to dan, in order that dan can use that money to buy extra shares in quob so that quob then gets that as extra funding... tad incestuous...
"in addition to the funding options outlined above, QPE has discussed with DS&C a £2m bond that can be converted into DS&C equity at any time over the next 5 years. This conversion is proposed to be at a price of 1p per share, or lower if further equity is raised by DS&C at any time during this 5 year period. FCA approval would of course be required prior to any conversion, but not prior to issue of the bond. The bond may be combined with either of the other two funding options or can stand as an independent deal. The bond would be for the sole purpose of enabling DS&C to take up their previously agreed option to purchase QPE shares at a price of £10 per share, to a total value of £2m. Considering that the most recent circa £4m of equity released by QPE is priced at £15 per share, to not take up this option to purchase at £10 per share would obviously be a wasted opportunity for DS&C to generate potential profit. The opportunity to take up QPE’s bond option shall shortly lapse if not taken up by DS&C."
.... weird .... so although dan is clearly strapped for cash and is meant to be cost-cutting and focusing on turning its core business around, in the meantime quob is also trying to encourage dan to borrow an extra two million pounds, not in order to develop dan businesses, but simply to give quob an extra two million financing by buying quob shares at £2.
would have thought shareholders here might be better off having the company wound up, so they have have their money back, if there's any left over, then make their own choice whether or not they want to invest their cash into RTs quob park estate.
the other proposed financings via equity from quob seem to rely not only on FCA approval, which probably should not be relied on, but also on those currently holding debt in dan agreeing to give up their debt in exchange for equity in dan at 1p price. i'm unclear why a debt holder would want to do that, given that at present they are ahead of the shareholders in the queue to get any monies back.
Datafeed and UK data supplied by NBTrader and Digital Look.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.