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Selling the company and or closing it down and returning cash is a possibility. Spending money on advertising seems daft to me. The competition is fierce and the best days are gone.
£4 seems about right, interesting few months for the company, still no signs of any diversification of the products they offer.
Lemonade…I think you are the only one here who thinks it was reasonable to sell via a third party to satisfy “strong demand” and then a few weeks later announce profit warning that demolished the share price by £20 a share. If that is not getting close to insider trading….how could investors do their own when all they had were rns notes about how fantastic the company was doing? Try that as a director in the United States and see how many law suits you get! Maybe it was all legal….I guess it must have been …sure the directors must have thought the share price was overvalued but who would invest in the stock mkt if the directors were allowed to mislead just to sell their stock at crazy prices
They cannot sell it to the company at that high a price. That would be destroying shareholders value when it was clearly overvalued. They used the free market to sell their shares to people who did not do enough DD on the company, nothing wrong with that.
Here's the RNS: https://www.lse.co.uk/rns/BOTB/primarybid-offer-s96fugwewqlk23k.html
> As a result, pursuant to a number of investor meetings and indications of strong demand for the Company's shares, from both existing and new institutional investors, the Selling Directors have decided to release a portion of their shareholdings in order to satisfy this demand, broaden the Company's shareholder base and improve liquidity
The wording here is hilarious though. Here's a translation:
> Our shares are severely overvalued and we need to dump them as fast as possible before retail investors realise they are massively overpaying.
But this just means that you cannot ever trust what directors are saying obviously and have to read between the lines in all RNS's.
Especially on AIM exchange where it's the wild west.
I would have done the exact same thing if I was a director. If you don't do your DD then you don't deserve gains.
yes infamous. I would have no problem if sold in the mkt but they sold via a special primary bid placing where none of the money went to the company. From £24 to below £4 in 9 months. I cannot see how the directors did not know the company position when they sold and I do not know if they were obliged to set out an update when they sold.....obviously not. So I guess the directors did nothing wrong. Some of the biggest commentators around were very keen on botb last year and were pointing to the large divis etc. Which then stopped after the profit warning etc. So nothing was wrong perhaps but private investors have taken a near £300 million hit approx and it has come out of the blue rather and some of the best pundits around are in complete shock. Much of my remaining holding cost nothing and I sold a lot of my £24 placing at £30 plus but I still feel very cheated and sorry for those that invested heavily here. A question more of trust than losses.
I agree. I will buy a small stake on the open, at this price it could be a good recovery share.
overbought*, not oversold
Why infamous?
Directors did right thing. Placed more shares when they were oversold and dumped their own.
Now they should buy back shares
at these prices it does seem oversold. Valued at £38m of which £8m is cash, on track for over £4m profit and no debt. Reasonably sticky customers although clearly acquiring and retaining new customers is the issue.
LOL it didnt have much more than that a year ago when the mcap was over £300 million! shows how crazy overbought it was!
TODAY IS AN OVERSELL its a buy here for recovery IMO
Yikes! 385p! Has £8 million in cash but not much else.
To think a certain commentator said that the directors should have asked for more than £24 in the now infamous Primary Bid placing.
I would recommend any new investors look at the company’s offering to customers compared with rivals.
The competitions are too infrequent, the prizes are in some ways over the top, the chances of winning are incredibly slim.
This is not how you retain customers or attract new customers.
I just cant see how this business can come back especially now that summer is upon us and people will be out and about. I took a small punt in November after Omicron news thinking if people are at home, they might participate however that didn't crystallise in today's update. I sold this morning at 10% loss. GL to all holders here.
They quite clearly caught the Covid wind with people locked down at home and only a computer and the internet to communicate with the outside world. Idle fingers and muscles leading them to companies like BOTB and Peleton. Now with everything reopening both BOTB and Peleton are struggling to deal with and adjust with the drops from previous demand levels. Online is still a business generating money even without the same levels of pandemic demand. There's not much in the RNS setting out how they propose to improve things. Tried expensive marketing but its too costly and not driving new customer numbers. Maybe with the country emerging from the pandemic and footfall returning to high streets and shopping centres they should consider going back to bricks and mortar as a selling channel. It's hard to see any real growth potential off anything stated in the RNS so probably a bit further to retrace.
The problem for this company now is that they are now in a increasingly saturated market. It seems every man and his dog is setting up car/cash prize giveaway business. The successful small players have driven their business through social media and BOTB are simply to late the party. They have nothing unique to offer and the competition will only get stronger and customer acquisition costs will only go up.
bargepole stuff at present
Yikes try 75% !!
Think sp will fall at least 30% as prospects not great imv.
If the results next week are poor, no divi, no cash, losses for the year etc.....you might be able to buy them again for 40 pence!
I was a long term holder and fan of botb seeing their share price go from 38p to £35. in around 5 years.Started buying at 40p averaged around £5 sold at £11. Shares eventually reached £35 obviously kicking myself, but then talk of a takeover and then the CEO started dowloading shares.
These days with the share trading at around £5.90 the market and sentiment has changed. With newbies like Omaze on the horizon this will eat into their future profits.