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Ok thanks, was thinking about buying in on Tuesday for a trade but I dont really understand the background or the RNS so dont wanna get stung holding shares I wish I hadn't bought. As usual twitter is full of all sorts of nonsense, would this be worth a quick trade?
Kenny - the answers provided were not quite correct. The original RNSs that came out regarding the reverse takeover of Eco Building had already made clear that should Fox-Eco win the litigation against the Kosovan government, any award would be segregated for legacy Fox Marble shareholders. However, since the EGM to approve the RTO and then convert FOX shares to new ECO shares will not occur until the end of May (and we therefore will continue to trade under the old FOX ticker until then), what today's announcement clarified was, essentially, that investors can still purchase FOX shares in the market anytime from now until the record date of 26 May and be eligible for their share of any litigation award as and when it may get paid. [Fwiw, 'record date', as the term suggests, is the date on which a buyer's can/is recorded as the beneficial owner of any shares they've purchased. Whereas other, related terms like 'trade date' (the date you actually buy them) and 'settlement date' (the date on which your shares land in your account and the cash needed to pay for them goes out) are straightforward, a share's 'record date' can be a bit kinky; ie., sometimes it falls the same day as the settlement date, sometimes a day before trade date and sometimes a couple days later. Therefore, unless they call your broker and find out for certain, it's probably fair to say that if a buyer wants to make sure that they qualify for a record date of 26 May at 6pm, they should buy them latest the 24th]. Given how much the share price bounced today, it's obvious that a lot of people mistakenly believed the 'record date' to own the shares with the litigation lottery ticket attached had already passed.
New shareholders are simply that. They have shares in the new business after dilution and consolidation, their reward is they own the new company
What about new shareholders?
It may also mean that you would not want to run a short on the stock as it would be dangerous
could be interesting if the buying pressure carries on
It means that just before the point the new shares are issued, dilution occurrs the share holders of the original, current 417 million Will be ring fenced to collect everything awarded from any tribunal win.
Ie if they win the award won’t get diluted and given to the new shareholders.
It make obvious sense if your Chris G or us. Imagine they won £100 million, imagining having to dilute amongst the huge amount of new shares?
This way any win the original holders gain.
Before the last day many might be tempted to buy some?? Say it’s £100 million, that’s 24 pence per share, i huge award, half it? Whatever to a degree it’s significant
Can explain to me in stupid terms what that RNS means?
Look at the late buys! 16 in a row between 5 and 10K in value and a near 50K.
Following several queries from existing Fox Marble Holdings plc shareholders, the Company confirms that the record date for those shareholders to be ring-fenced for any future litigation award against the government of Kosovo in its €195M case is 6 p.m. on 26 May 2023
5.95 was approx the high of MIRI and I could see the herd storming in here early next week. I will be surprised if this does not go above 3p early next week. Some will sell of course after such a move today but once the big buyers pile in.....30 times the possible compensation the current mkt cap and although that is not agreed and a deal might be agreed much lower or not at all even....the prospects of around 50 pence a share however unlikely is going to attract a lot of traders and punters.
Good that they set a date today ....a clear target is established.
Well now - just broke into profit! Took a bit of a punt with a lot of averaging down. I might just be in love with CG !!!
Huge two weeks ahead.
Massive disconnect between mcap (6m) and litigation settlement (195m)
well now, definitely better to be lucky than smart.
£6m vs 195m claim…
whats the market cap ?
We’ve waited long enough, interesting times ahead
shooter
yeah....looks like it'll be on the leader board sooooooooon.
Nice
blue
I'm not sure about HSR , but I have just punted a few more , bought at 1.0364 so I guess all those sells this PM must be buys.
Thanks Bluerill for HSR bulletin. How good it is to be seeing positive news and opinions after all these years.
Fox Marble – Eco Buildings Group reverse takeover, eventually, moving ahead - STRONG BUY
By HotStockRockets | Wednesday 3 May 2023
Disclosure: I own shares in one or more of the stocks mentioned. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from *************). I have no business relationship with any company whose stock is mentioned in this article.
Fox Marble (FOX) has, eventually, announced further details of its proposed Eco Buildings Group reverse takeover along with a proposed further £2.7 million of equity issuance at 55p per share. Exciting times ahead?
The pricing is with a prospective effectively 1 for 50.7 share consolidation, with the acquisition consideration an all-share £30 million and the prospective market cap £38.5 million, with the £2.7 million placing funds “to provide growth finance and working capital”.
Eco Buildings has a prefabricated modular offering which is up to 50% cheaper, two-thirds lighter and five times faster to build than conventionally built homes and its management has utilised its network in the Balkans to initially secure two contracts that are expected to generate sales revenue of up to €114 million for the first three years following admission. It is added that “Fox Marble's existing building products and operations should deliver revenue synergies when combined with Eco Buildings”.
There are clear risks at this stage, including the proposals still to be formally approved and then delivery of the noted revenue-generating activity profitably including with significant boardroom change. However, we’ve already noted multi-million pound profit potential soon after a year and potentially much more on the international expansion.
As such, we suggest this is currently attractive on a risk/reward basis even before considering the potential from a €195 million arbitration case against the Republic of Kosovo for current Fox Marble shareholders. Therefore, the stance is STRONG BUY at up to a post-consolidation 60p. For we existing shareholders this could be - with the arbitration - a massive multibagger. For new entrants we still see the potential for a 150p+ share price.
As yet we await an update on the legal case, I draw comfort from the fact they placed a clause into the RTO about money going to original holders, Chris G must think there’s something in it
what do you mean exactly? It continues to progress a per usual. no change. Company will update when and if appropriate I'm sure
So what happens to the litigation case ?