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I'm off this week. Made to take holiday. So 6:55am alarm for rns. Give me enough time to make a coffee
Alarm will be set nice n early check out those 7am rns’s.
Yeah im buzzing for tomorrow, can't wait for my bloody pressure to go up and down
The whole week should be a stormer.
It’s not often on a Sunday I find myself looking forward to Monday !
Im not surprised that their wasn't a formal offer in the period, Alot of companies have simply paused or stopped acquisitions during covid, i have a friend that works on due diligence and business modeling for a large listed US company, the entire division has been put on furlough apart from one or two people working on deals that are all but completed.
They are using the time for internal restructuring while everyone is on furlough and plan to recommence from October.
My understanding is that alot of other companies are doing the same.
I expect that If it wasnt for covid there would have been an offer or two.
And they had no choice but to pull out as the biggest shareholder (61%) entered into an irrevocable arrangement in order to scupper the deal and force fair value. That’s also why they approached JB separately..... you couldn’t make this up!
The complaints were know about before the 21p bid and even if they was to double or triple the cash is there to cover it and then some !!!
The issue is these complaints which have materially increased. All we do know is that the cost was estimated at £35M and the company has stated it will bexa lit more than that. Results are due third week in July.
It is great that cash is growing rising from £115M to £136M inside a month. I am holding and waiting.
Also as far as i can see the buyer has withdrawn from a formal purchase.
JB has pretty much spelt it out. The market has completely overreacted and now the cycle begins to bring it back to genuine true value. He will be selling 4.75m shares per day and we know the buyer wants his full holding, who else wants them and now they have pi’s buying to contend with also as word spreads. I wonder what the average sell price JB gets by the time his full holding is gone and how many now tr1 holders we get in the mean time. At that point we should be many multiples of the current sp.
It’s a gift for sure. Imo.
Degsy I’ve seen you on a couple of boards have you ever come across such a clear cut no brainer as this before ? ..... because I can’t recall one! maybe itm power when it went as low as 25p but that’s a completely different industry etc.
I bought at 6p and 5p and was so utterly convinced I was right that I sold out on their positions to make sure I had cash to cover further buy orders at 4p and 3p !!! As it happens I used that extra to buy more on the way up at 12p it was like being offered £10 notes for a fiver each! For the sake of full honesty I’ve got a sell order for 50% of my holding at 21p but fully intend to hold the remainder until 40p ish.
Factor in a PE ratio and £’s
Yep! Now check out today’s market cap look thru the fundamentals and try to square that circle !!!!
Like I said multiples of recent share price!
So if the company is making £15-£20m per month then at the end of this year we're looking at £200-250 Million cash position ? In less than 6 months time...
Amgo is making £15-£20m per month so besides the current issue it is still a very viable business. Sweet proposition to be able to buy knowing all of JB’s stock is already highly sought.
With £135m cash and still very profitable business I can see 21p/£100m very realistic next week, expect 35/42p(£175-£200m)offer before end of month.