That gives Arisawa Mfg Co up to $1.25m of CLNs secured on the company’s stereoscopic 3D patent library and priority repayable in the event that we win a slug of cash in court from LG (which had better come soon or there'll be nowt left after paying the creditors). Plus a 10% coupon which is steep. But at least the BoD bought some shares a couple of months ago at 1p so hopefully they know what they're doing -- and aren't anticipating Arisawa ending up owning everything…
The Asset Match auction has finished with 286,102 shares traded at 1p per share. That number of shares was on offer yesterday for 0.8p so it looks like the seller upped his price -- and presumably that the two or three who had listed at prices below this weren't willing to sell at 0.5p and 0.6p in the light of the placing news.
Jam4u, sorry for the typo. My concern would be that your broker wouldn't receive any key shareholder notices from DDD whereas you would receive them directly if you certificated your shares; also, should you want to sell, Asset Match is currently the only game in town and I don't think they can deal with Sharedealactive.
Jam4u, albeit the directors have demonstrated confidence by digging pretty deep, it will be even more significant if they can raise the balance of the target cash at 2p from outside investors. That would effectively re-rate the company. But I think it's doubtful they will re-list. The main reason for listing is to raise cash and they seem to be doing that just fine without the stock market's help.
If I had to guess the future, I would say that this looks like a possible management buyout -- with the help of tech engineering firm, Arisawa Manufacturing Company who are already a major shareholder and also hold a £500k secured loan note.
The 2p placing effectively values the company now at £4m+ but they would hopefully have to go higher to buy out the few remaining external shareholders -- especially if they do the deed before the LG damages case is heard.
Just in case, it would be prudent for any PIs who haven't yet converted their electronic shareholding to a certificate, to do it soon so that your name goes on the register and FBT know where to contact you.
In any event, if you are planning to sell any shares in a future Asset Match auction, you will need to be certificated.
I saw that some smaller holders were offering around 700k shares at under 1p in the current Asset Match auction which ends today (Thursday). I wonder if they will withdraw them in light of the 2p placing news.
Hi Folks, just came on board to see what the take is on this placing at 2p and sae this thread. I have my shares with Sharedealactive which is on the Jarvis platform. I havent checked since but they said they could trade the shares as and when I was ready. Just letting folks know....
"Three of the Directors of DDD have agreed to subscribe for New Shares. The nominal amount of the New Shares that they have agreed to acquire are as follows: Christopher Yewdall £40,500; Nicholas Brigstocke £40,500 and Sanji Arisawa £140,500."
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