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Agree with you luckyorange - time for Novum to go.
Re Blocklisting Feb 2021
Stating 117,000,000
Minus 32,745,000 Expired Or Converted .... Cash Coming ...
Leaving 84,255,000
Trek Highlighting The 14,000,000 2018 Director Option Pool .....Did They Also Expire Yesterday ?
If So Leaving 70,255,000
Unveiling Of The SP Controllers Remaining Positions
17th August .... Big Day
Thanks for your input Trek .
We will probably informed within the week but if the majority haven't been churned through it will be a surprise.
Novum as it turned out were brought in to churn them through and hopefully their position will become redundant as they have made money from that , the placing and a retainer as well as anything made from shorts?
Anyway , don't want to dwell on their appointment but will be glad to see them off the payroll as they have brought nothing but pain to retail investors.
Upside is that ECR will not require cash for quite some time .
Hi LO,
Three lots in January 21, see RNS dates
RNS 25-jan-21
500000, 1.125p, Jul-18 scheme
55356391, 2p wars date by 16-Jun-22, Shenyang
RNS 12-Jan-21
7095237, 1.125, Jul-18 scheme
1872609, 2.1p required by 30-Jul-22, from 30-Jul-20 scheme
RNS 5-Jan-21
8761905, 1.125, Jul-18 scheme.
2000000 options, 1.125 Jul-18 scheme
These would have been accounted for in the blocklisting of 4th Feb & 11th Feb 21. Easier to just use the Blocklisting RNS for an overview.
Trek
And the warrants exercised in January .
Two lots .
I can never keep up with the warrants and options , are those on your list as exercised?
They did 23rd March 2,318,841 shares (“Option Shares”) at 1.725 pence. Funds of £40,000 have been received by the Company in relation to these Option Shares.
It is good stuff , warrants open for 5 years came as a shock , who does that lol?
'OPTIONS. 25m director & staff options with a 1.75p vwap (expired earlier) also included 2.5m wars to SI capital at 1.5p. See 11-Jul-18 RNS.'
Any Director options would have been RNS'd separately wouldn't they ? Be fair to assume they didn't happen but SI capital could have churned those when the sp was higher but no way of knowing l suppose.
Hi LO,
My apologies for not making it plain English. It’s a nerd thing. Have another read and let me know where I can expand. It’s really not a problem. I have another level of data below this so I understand there will likely be questions.
Good luck with your investments.
Trek
He did say happy to take Q's. Trek you're a diamond amongst us amateurs and I appreciate your posts. Follow you elsewhere too , many thanks.
Without being rude , it doesn't help Trek and not simple enough for me :)
Note a block listing ‘APPLICATION RNS’ is indicative. It’s to save having loads of conversion and TVR RNS’s. It can be ‘construed’ as a way of hiding dilution. Also be aware the last 6 monthly block listing RNS, 4th Feb 2021, isn’t listed here on the LSE site, you can find it on investigate. It also DOESN’T cover all options and warrants!
I have used the 11th Feb Block APPLICATION RNS & added that to existing open options in totality. These may or may not have been cashed. So figs are approximate at best. Any that have not been in the money are likely to be open.
In terms of valuation the way I look at it is…
1. take the total money to be raised and the number of shares to be converted
2. Add the cash raised to the mcap
3. Add the extra shares to the total shares
4. Divide the new mcap by the new total number of shares. You then get a ‘fully diluted’ SP
5. Work out the difference in % terms and you have the gap or you can do in absolute terms. I.e % increase in shares.
This should help one time buys cognisant of dilution/add on pull backs! Like lol!
There is little point in doing it atm as we are due updates, but I hope the theory helps.
The penultimate closed scheme was 21-Dec-18 scheme, closed on 30-Nov-20. So taking it from there here goes!
In order of…
Scheme title, conversion price (£), conversion by date, cash return, notes.
THESE ARE NOW EXPIRED…
30-Jul-18, 0.01125, 30-Jul-21, £368381.25.
Placing Warrants. Originally 92.8m wars. These had a 5p VWAP accelerator clause. See 11-Jul-18 RNS. Note the exercise date was clarified in the 9-Jul-20 RNS.
11-Jul-20, £0.01125, 30-Jul-21, 14000000, £157500.
OPTIONS. 25m director & staff options with a 1.75p vwap (expired earlier) also included 2.5m wars to SI capital at 1.5p. See 11-Jul-18 RNS.
Cash from above was 500k for 46m shares.
THESE ARE OPEN…
20-Apr-20, £0.01, 20-Apr-22, 32500000, £325000
Placing & services. Placing at 0.5p with 1p wars. 6-Apr-20 RNS.
30-Jul-20, £0.021, 30-Jul-22, 3775519, £792857.50
Placing 1.3p 21-Jul-20 RNS
27-Feb-17, £0.01725, 24-Feb-22, 8153968, £140655.95.
Options (not warrants) 27-Feb-17 RNS.
06-Jun-17, £0.05, 16-Jun-22, 27678195, £1383909.75.
These wars are for Shenyang. No accelerator. See 6-Jun-17 RNS.
09-Apr-21, £0.0375, 09-Apr-23, 45454545, £1704545.44.
Wars following 2.2p placing. 9-Apr-21 RNS.
Assume all existing ‘open’ warrants AND options convert based on previous caveats.
151m shares and £4.345m in cash.
Hope helps, don’t loose in noise.
Happy to take Q’s.
Usual caveats
Trek