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Yes, it did happen but the company was not in the same situation as now and also you would need someone to come in and take a big chunk like Solenta did.
As I said earlier currently fjet is priced to fail so if there was an extremely compelling case to pay 6x the current SP and a big investor to stir up PI interest, then maybe.......
.... you have to admit it’s a big maybe :-)
Get the disposal done, raise any additional cash required and set yourself up as the new Cash light business! That’s the plan and that’s what the BoD have to deliver for us, they have a good plan and a good story,
The restructured Group would become a capital light business operating as a franchise house that would earn revenues through the fastjet brand and providing airline management solutions, whilst also continuing to hold its investment in the FedAir business. The Group's strategy is to focus on franchise and providing airline management solutions to additional airlines in Africa that are independently owned, enhancing its overall revenues from these. Additionally, the Group would aim to only own airlines once they were cash generative and profitable, so avoiding the initial costs and significant cash losses through the airline startup phase and from operating in Africa's sometimes uncertain trading environment.
Not to worry get_rich_quick. TBH I think the chances are M&G probably are completely out by now. If we get some sort of financing lifeline tomorrow this could rise significantly. If we don't then it will probably drift further downwards.
Interesting...rare to get a placing away at a higher price but it does happen as you say previously. To pay a higher price there must have been a very good reason. If the company can demostrate a viable future then i guess a placing at 1p does not sound out of the question. at the present price FJet is pretty much priced to go bust, however as a viable business it is worth a great deal more imo
Why would anyone have gone for a 8p placing when share price was 3p! But they did.
A 1p placing.... hmm interesting. Why would anyone go for a 1p placing?
Every chance with covid coming in play when they were planning on £8 million sale of Zimbabwe assets/they won’t get £8 million now but we know they need £8 million to keep going. They won’t do a placing with increase of 30% more shares coming to market so placing has to be around 1penny. Sounds mad but they did placing at 8p before when sp was in the 3p range.
You are absolutely not being dense, and if anything, I must apologise, as I have become confused.
I could blame alcohol but I've somewhat of a hardened drinker and shouldn't have skim read it.
So, apologies all. The Rns does NOT say they are at 0%. That is completely my misreading and I apologise.
That said; normally when insti's drop below the 3% threshold, they normally sell every share, so I still expect this to come about.
I am sorry Muldoon.
Just wondering what are the chances for a placing?.
Claza, It depends on the forward looking plan the company gives and whether the financing solution for their new strategy is through the disposal or raising short term cash. Good news will see us back to 0.6 minimum IMO.
M&G position is massively reduced ( maybe now 5% or 3% or 0%) but currently irrelevant given where we are, which is:
“ The Company is still assessing its future funding requirements should the Disposal not proceed to enable it to continue as a going concern beyond 31 July 2020 and will issue an updated trading statement in the last week of June 2020.”
To the recent rise a few weeks ago to over 0.60+ which is roughly 3 bags from here. DYOR and Good luck
Yes today's RNS doesn't change anything, it is outdated.
The facts are:
1. M&G reported on 24th June, it crossed 5% threshold on 23rd June, and
2. 5% means that M&G had left less than 190.5 million shares
3. Since 24th June (included) was traded almost 2.000 million FJET shares
...so more likely M&G is out because 5% shares were only 10% of shares since 23rd June.
This is my calculation everything are facts and math except, assumption that M&G wanted to sell the all remaining shares.
Have they just releasing the RNS for a date almost 2 weeks ago?
It makes it very confusing to know whether they are out or not?
Well as long as the the SP rises from tomorrow onwards thats all matters. I hope we see above 0.30 tomorrow. Good luck all
Pardon me if I am being dense, but I can't see any RNS backing up your "This recently disclosed Rns now says they have 0% holding" assertion get_rich_quick. What RNS are you looking at exactly ?
What sort of sp are you thinking it will multi bag to?
LOL seems some peeps can’t read an RNS or a date. Not sure why there is so much focus on M&G. This company is running out of cash, the only question is will they get a deal done to fund themselves Short term and execute their new strategy. They have two possibilities
1. Get the “disposal” done and dusted.
2. Find a new funding agreement to tide them by.
As the company has stated, cash runs out at the end of the month.
The current SP has priced the business to fail, therefore it we get the RNS that funding is secured then the SP will multi bag from here. This is the gamble, high risk and high reward.
Any other points of discussion are a distraction.
I hope for a Monday RNS as Friday ones aren’t always great!
Don’t agree, no RNS yet to say M&G are out - fact. We know they are under 5%...a good assumption can be that they are now near or under 3%..but until TR-1 it’s not a sure thing.
I appreciate concerns of dates but there is a threshold limit with regards to disclosure.
If you have x amount of shares, but you buy enough to increase your holding above 3%, you have to disclose this, and then every 1% increase thereafter.
It's the same in reverse.
The penultimate M&G Rns said they were below 5%.
If they had gone below 3% they could have held some and we would never have known, just as we don't know how many each of us hold, as most private investors hold below 3% of the shares in issue.
This recently disclosed Rns now says they have 0% holding, so as far as I'm concerned, regardless of poorly written timelines, they are out.
M&G have gone through a massive financial restructure, as I've looked deep into their company, which is why I've Harper on about them selling their entire holding.
The Sp has held incredibly well, in spite of all their shares flooding the market.
We can still expect volatile swings, but the depression of their shares hitting the market is over, and we've held our Sp, so I'm hopeful of our new base level.
Good evening all.
Get_rich_quick you say ", but I did mention an Rns wpuld be released confirming a 0% interest. Anyway - now it's out there and we know." So which RNS are you referring to ?
if they pop the real rns out , i want 100% gain tomorrow. multiple bag time
Get_rich_quick how do you know they are definitely out now ? Today's RNS was from 19 June saying they went from 13 to 12%.
Just the bye bye Mand G aspect. Once and for all. No more doubting
This rns out today was issued on June 19th so is irrelevant.
Here’s to being top of the risers board tomorrow.
Surely wrong RNS..
They are definitely out now.
There is no doubt about it.