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Thank you maqsood.
Yes a good RNS after the recent nonsense
Did you actually bother to read the rns??
"Further to the update of 17 March 2023, the Company has received confirmation prior to the suspension being lifted that the Company is "grandfathered" under the regime change so that, provided a reverse takeover is subject to eligibility and prospectus review and approval prior to 1 December 2023, that such reverse takeover can complete with a market capitalisation for the enlarged share capital of the Company of less than £30,000,000 (thirty million pounds)."
Convincing creditor to take shares at price of 0.344 is really good here!
RTO is coming in few weeks
Many derampers will be coming and trying to spread negativity but DYOR as downside is really minimal
Company already got enough cash for RTO as per RNS and imo they already got target set.
Exploring numbers of RTO opportunities and hope to produce a shortlist in coming weeks!!
We knew that they are already in process!
Also no directors fees till the RTO!!
That is great!
They issued shares to creditors at 0.344!!
So minimal downside but great upside from here with RTO announcement within coming weeks!
The £30 Million minimum m/cap has made this RTO for companies like DISH as good as impossible.
Minimum Market Capitalisation
The minimum market capitalisation for companies in both the standard and premium segments of the main market has increased from £700,000 to £30 million. The FCA has said that the intention of this change is to give greater clarity and trust to investors with respect to the types of company on the main market. The expectation is that companies with a minimum market capitalisation of less than £30 million would be better suited to the Alternative Investment Market.
Any company that has a minimum m/cap of £30Million can easily afford to do their own IPO. There is nothing to be gained by using the DISH shell. Also who wants to go through the suspension thing all over again.
I'm not a holder here any more but if I was a better idea would be to either get Big Dish back up and running or to install some new directors and make an acquisition, preferably in the commodities sector. J Morley-Kirk is a director of Clean Tech Lithium, which operate in Chile. They could take on a new asset there for a start with his connections and they can do that on a shoe string budget.
ALMHO
RNS folks, let’s have your comms?
Unless they already have someone lined up to RTO, they won't be able to announce anything until the deal is struck, and they couldn't do that until they relisted. Whether or not they have anyone depends upon whether anyone has approached them who wants to float. I suppose it's possible that they've relisted because they've been approached. Or they've relisted because as an unlisted body, they are not a prospect for any company that wants to RTO.
The line of work of whatever company it is that wants to list via a RTO is completely unpredictable. It could be anything.
I cannot imagine how or why Ms Li has suddenly appeared. I can't imagine she was connected with the mining lot who were trying to conclude the Terra Rara deal. Unless the connection is with Bishop.... It's entirely my speculation but DISH operated in the Philippines and far east, where she operates. Maybe she saw an opportunity for a company and approached DISH and Bishop.
It's all unknowns at the moment. Everything. But it's positive in my view that this has happened and also strikes me as interesting that they've listed on 6 exchanges, including in China, to max out their appeal to companies looking to RTO.
We'll see. This will be the last SPAC i get involved in.
Ms Li is executive director of Drylab Media Tech Group Plc as their Chief Marketing Officer and is an international media executive and renowned TV presenter for the world's largest independent Chinese TV broadcaster Phoenix Satellite Television Holdings Ltd. Ms Li set up Phoenix TV's European news division in 2004 where she heads the news team. Ms Li also has extensive experience in marketing and investor relations. She has built up during the past 15 years substantial relationships with both corporates and investors across Asia, Europe and North America.
clue is here what is coming!!
oh, and those clns were issued at 50% discount to today's opening price so you had to be quick if you wanted to beat those cln sells to take advantage of the drop.
that's why it's now sitting at 0.2ish... no more in it for the clns until some good news comes along.
best bit of news we've had today... and for a long time!
the bid's increasing because it's lost 50% of its value this morning. that means it'll have to bag from here to get back to opening price.
of course, that' entirely possible but until they decide to stop chopping and change, from restaurant services to rare earths to media to whatever next (which makes them sound like they haven't a real clue what their collective specialism is) the share is going to be speculative and rumour will run the share.
katstrangler,you need to read old RNS and also do some research how cash shell works.
cash in bank is 400k plus and shell is around 400k, that brings mcap of 800k.
so really less chances of going lower than going higher!
now company is trying to buy some asset as they did tried before will give big boost to sp here.
the deal is done imo,before readmission imo.
not long to wait........
BTW bid is increasing!!
How could they function as a cash shell and a viable RTO vehicle if they're not listed?
better make sure that heading doesn't turn into 'good byeing'. still sellers dropping the price.
now 0.2/0.22.
at this point you have to queston why they bothered relisting at all, unless it's the BoD selling and trying to salvage what little they can from the mess.
There’s a lot of noticeable buys here this morning and no small change either ! Hopefully good things going on in the background! We can only hope !
i think you need to read the previous RNS
it said that reverse takeover is coming!
also said they gave sufficient cash for the reverse takeover!
also can fund via cln!
so,looks good to me from here.......
it will start moving higher once people done bottom fishing.
dyor,hold tight
because they didn't post anything positive with the resumption.
idiots not to have included "we have several possibilities that we're in talks with, including funding."
of course, you can only post that if it's true.
one has to hope this has multibagging opportunieis on finding the right asset, rather than just resuming to try and rescue a few pennies from BoDs stakes.
even if incompetent, if they want their lifestyle salaries to continue they're going to need to pull something potentially juicy out of the bag.
HERE?
nearly all of that is obligatory statements. while it's all true, one would have to wonder why they'd bother resurfacing if there wasnt a chance of making something happen. there can't be that much money they can salvage by just keeping going while the sp is already down near 50%.
even if the company was another ICON, with well dodgy ceos and the like, there will still be a chance for good money to be had on the prospects, once known. just wouldn't stay in it for the longer term.
amended:
'''wont' be taking them if there's noone interested in buying...
mms won't be buying if they don't think they can sell them on... so someone must be wanting them and at a better price than they're being sold ?
the only optimism to be found is, IF news drops in the next couple of day, however sketchy, the sp will probably bag... and then some. but it's only current holders who are hostage to the suspension that will benefit.
until that news comes or is punted as coming, even knife catchers will be wary.
Maybe you should read the funndig risk/key personal risk parts of the rns on 31/03/2023. If any funds raised,at what dilution?
It's a SPAC. A cash shell. Yes it needs some funds, but this wouldn't be happening if they weren't confident of having access to sufficient funds to cover the costs of a RTO.
...because they haven't mentioned funds or assets? one assumes that there must be a point to them resuming but...