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apologies for the typo pacience....thats welsh for patience....
So I am hoping that the AGM hasn't announced so that they can announce the target before hand, then some of the potential votes will be on funding (either through additional shares or private funding) fingers crossed
The annual report seems pretty comprehensive, I think part of it is a sort of advertisement (Corporate Government Statement), with reasons why BOU are a suitable company for an RTO.
The part for the shareholders was:
At the time of preparing these financial statements, the Company has closed all its trading businesses,
and is a Cash Shell awaiting new investment opportunities. The Directors believe that since the year-end,
through share issues, the Company has raised sufficient cash resources for over 12 months to support
its contracted and committed working capital requirements as a quoted Cash Shell company. The
Directors have announced that they are seeking new investment opportunities, and have indicated that
further investment may be expected from shareholders when suitable investments have been identified.
Well, £275k has been spent on the proposed deal, presumably legal and financial DD, so they must be very close to completion.
Mr Glogowski has a mention with his warrants of 3% of the possible enlarged share capital following a RTO.
Note that the website is still showing errors with regards to significant shareholders, should have been sorted out by now.
Still hopeful of a good outcome.
Chris
For all we know some of the parties at the table including our directors could be 'vulnerable' or may have contracted Covid and became unwell not to mention issues with wider family members that could have all impacted on progression.
Many businesses would have concentrated on keeping the business viable and safe. The changes that they needed to put in place would have taken precedent esspecially during early lockdown so any transaction may have been secondary in thier strategy. Also forgetting the business side for a moment everyone has personal circumstances that may or may not have impacted on the transaction. Close family members who became ill etc, financial worries due to loved ones losing jobs.
Pacience....we must have
True, but given that we are so far down the line, at the point of directors being unable to attend the target site to complete due diligence, and sitting in a room with their counterparts signing contracts etc, it would make it somewhat difficult.
Neil
" Covid-19 pandemic continues to create challenges". As it does for most companies that are able to work through this pandemic.