The news about the extra shares late last week seems to have had little effect on the price. How comforting it is to see price doddling along like this. Average volume, bit of selling, bit of buying. Nice. And it is believed there may be some very good news in next week or two.
Hardly any posts either on any board. And that is often a good thing.:-)
They might have got some, but nowhere near enough, so make it pointless. The vast majority will be in PI hands (and the only sizeable other investor being now Abrahams with 7%, soon to be 15%. Then Capital Group with 100m - presuming they still hold - can't be fecked to check :p). Then again I'm skeptical of the amounts being talked for Georgia - but hoping to be pleasantly surprised ;)
bounty - I understand your logic. I just don't think it was realistically possible. Someone comes in and offers 1p a share for the company the vast majority, bar an insignificant number of short term traders holding a small amount, would have been against it. So they couldn't just have bought the company. The MCAP of many companies is often worlds away from a "sensible" value at any given point and doesn't represent a realistic takeover price or anything near it. Notice how once the friggin debt shares were paid off the MCAP tripled as there was suddenly no huge pressure on the price. The company didn't become 3x as valuable overnight it just reverted back towards a more sensible price.
Sorry, I am not an accountant but my logic is thus...
Georgia is mooted at $50m, RRL's valuation at its worst was c. £27m. (c. $46m). So for what people are rumored to have been offering for Georgia, they could have purchased the whole company ( appriciate a premium would have to be applied etc etc) for not much more. But they would have had the other assets that they could have sold off (even at fire sale rates) for a profit and still had the asset they wanted.
I hope that makes sense. I appriciate the whiff of a TO would have hiked the SP but even so that my query around the Georgia valuation.
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