Absolutely ! I made mention of the odd trades pattern last week, the type that can occur when more shares are about to be issued. I don't hide from facts, companies join AIM in order to attract funding. I don't see it as the big bogeyman either, it is just a fact of business. That they would need to raise more during the ownership of SiS was a nailed on cert in my view, because fast expanding businesses often consume more cash than they produce. I also think that it would be irresponsible to let cash reserves get too low, there is a danger then of coming to the market for funds at a particularly bad time, such as after a natural disaster or other such shocking world event. My instincts suggest that there will be one more bite before funds start to flow from the Alliance, but I cant substantiate that, it is a balance of probabilities judgement. If they do, they do, no more to it than that IMHO.
Why wait until after the results before stating where AGM is due to be held??? Large capacity venue or low capacity venue??? My guess, Still waiting for confirmation of important news one way or the other which will need to be discussed at AGM. IMHO. Plus they only say Expects to hold AGM on Monday 22nd of September 2014.
"Provexis expects to hold its AGM on Monday 22 September 2014. Formal notice of the Company's AGM, to include the meeting's timing and venue, will be issued after the preliminary results for the year ended 31 March 2014 have been announced."
I agree with much of what you say in the 11:31, especially the bit about the purpose of the EFF, hell. I even recommended your post.
To a certain extent, you're right that the principle risks are standard stuff. But it was there in black and white in June 2013 that raising funds may well be necessary and yea, three months later they did exactly that
to the tune of 286k. Now I don't have a problem with them doing that, mainly because quite frankly the alternative would have been pretty horrible, but it's real and reflects what was stated in the principle risks.
My gut reaction is that the company will be self-funding and won't need the EFF renewing again ( at least not to cover operating and one-off costs anyway ). People don't need to be experts in reading these things, but if they're up to their necks in an investment they damned well ought to make some sort of effort to understand the potential risks as well the rewards, otherwise, frankly, I have very little sympathy.
Yep, but the specific point was the claim that it was ONLY for expansion. It never could have been, and never was. Such "over egging" of the downside is unhelpful, since it infers broken promises and management failure completely inaccurately. In actual fact, the original wording, stating that acquisition was a policy aim, has been overlooked times a many, another inaccuracy used to emphasise non existent errors of management. It just gets my goat, that's all. Let us stick to verifiable facts. If there are such facts, and proof of them, then publish. But don't make it up, that just isn't right is it. You published a portion of the principle risks over on the other board, which are verifiable, but ought to be balanced with the comment that all results come with similar standard warnings. A bit nit picking maybe, but we have to assume that knowledge of how to read reports doesn't exist across all readers.
"The EFF however provides the Board with the financial flexibility to accelerate the development of current technologies and/or acquire new technology opportunities. "
but it's never been stated in an RNS that the EFF is solely for that purpose.
Again, to be fair to RedPrince, there might have been something said in a webinar about the purpose of the EFF ( from memory, I think there was ? ) but that's water under the bridge now and, in terms of believing what you read / hear, I'd take an RNS over a webinar comment any day and, for sure, the demerger document trumps any webinar talk.
Have been changed following the renewal - they have obviously foreseen the potential for needing it for day to day expenses following the reduction in our cash position.previouisly it only allowed for use for expansion.
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