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RE: Was yesterday’s RNS about Rogue Baron good or bad?Sat 16:11
For the latest AGM (earlier this week) they proposed, and have been allowed to issue up to 620,000,000 new ordinary shares of 0.085 pence or approximately 154% of the current issued ordinary share capital of the Company. Resolution 4 – Directors’ Authority to Allot Shares EVO - Notice of AGM 2016 (final) (gunsynd.com)
After yesterday’s announcement of the warrants exercise for 5,128,176 ordinary shares, there will on or around the 15th of March 2021 be 409,219,576 ordinary shares in circulation.
To this you can add more then 67- 72 million options and warrants that are expiring on various dates up until some day 29-7-2023
You can find the info on page 41- 42 Gunsynd plc Annual Report and Accounts for the year ended 31 July 2020
So we could potentially end up having more then 1 BILLION shares in issue, before the next AGM.
409,219,576 ordinary shares in circulation. 67 - 72 million options and warrants. Proposed 620,000,000 new ordinary shares
If all warrants and options are exercised we are likely to end up with 1,096,219,576 to 1,101,219,576 BILLION shares, maybe slightly more.
If Gunsynd ends up with over 1 BILLION shares again, I find it more difficult to argue that we will one day get a bumper payout from divesting our investments.
But what annoys me the most of all, is the disregard for old LTH’s who have slowly build a significant stake in the company. They can only sit on the sideline and watch their % shrink, not being invited to the option and warrants/discounted share issue party.
But why do they even consider diluting us old LTH’s into oblivion once again within a year?
I think the answer lies here:
From page 7: “Gunsynd continues to look at investments in line with its investment policy. Such investment(s) if undertaken may or may not lead to a reverse takeover. “ Gunsynd plc Annual Report and Accounts for the year ended 31 July 2020
You can find out more about a reverse takeover here: Reverse Takeover (RTO) Definition (investopedia.com)
Just to back up my statement about being diluted into oblivion once again within a year:
At 31 July 2019, 6,334,275,841 shares was issued in Gunsynd Then at some point there was a Share Split Share Consolidation (1 for 85) 74,520,893 Issue of new ordinary shares on 5 June 2020 74,520,893 Issue of new ordinary shares on 1 July 2020 17,786,799 15 Issue of new ordinary shares on 6 July 2020 71,538,462 61 Issue of new ordinary shares on 7 July 2020 16,000,000 At 31 July 2020 254,367,047
Page 36 Gunsynd plc Annual Report and Accounts for the year ended 31 July 2020
(and soon we will have a minimum of 409,219,576 ordinary shares in circulation)
My recommendation is that you make a game plan for investing in this share with some exit point, when and where to take profit, otherwise you might very well end up be disappointed, as we are once again headed towards more then 1 BILLION shares in issue. (hopefully w
Was yesterday’s RNS about Rogue Baron good or bad?Sat 16:10
I choose to see the RNS as good, but unfortunately there are other things to be worried about, when it comes to Gunsynd.
Aprogerson summerised yesterday’s RNS very well with the following points:
“ > No new shares or cash raise > IPO date = 12-Mar-2021 > Total shares at IPO = 86,185,934 Ordinary Shares
POST ADMISSION Ryan Dolder 9,353,685 10.85% Gunsynd plc 24,543,563 28.48% Janon Costley 5,411,209 6.28% “ The above numbers adds up to 39,308,457 million shares or 45.6089%
To the POST ADMISSION above I would like to add the 36,247,500 that Human Brands hold in Rogue Baron as a result of transferring five subsidiaries, namely: “Shinju Spirits, Inc., Shinju Whiskey LLC, Mazeray Corporation, STI Signature Spirits Group LLC and Legacy Retail Group LLC. The Company also owns a minority stake in the Hong Kong distribution company, Milestone Beverages. Legacy Retail Group LLC owns the Company’s ****tail bar in Washington D.C.; Bin 1301.” (above sentence can be found here: https://www.aquis.eu/aquis-stock-exchange/for-investors
Combined, all those shares adds up to 75,555,957 million shares
When you subtract that from the 86,185,934 Ordinary Shares after the IPO, there is 10,629,977 shares that are unaccounted for.
I assume those 10 million+ shares are held by other investors. I do not think it is possible that they are held in treasury as the Rogue Baron prospectus states that the remaining 54.39% are in public hands.
So if it is the intention of the BOD of Rogue Baron to just get listed in the first place and then prove up the business and why it is an attractive investment at a significantly higher valuation, then I wish them the best of luck.
I would not mind that, as I do not find a listing at 7-8 pence attractive from our point of view. The 36,247,500 million shares allocated to Human Brands was converted at a price of 7.8 pence. Gunsynd plc Annual Report and Accounts for the year ended 31 July 2020
But going through the prospectus, it sounds like the BOD have other plans: “The Company has built a structure, and will continue to grow a structure, which the Directors believe is advantageous and attractive from a buyout standpoint. There have been a number of mergers and acquisitions in the beverage industry in recent years which have had significant values (in the hundreds of millions and sometimes billions of US dollars).”
I am particularly glad that they are not issuing shares ad libitum in Rogue Baron, as it would water down the payout to Gunsynd.
AND I SO WISH, I COULD SAY THE SAME ABOUT GUNSYND.
The Aquis Admission suggests £6m valuation So GUN with 28.48% that is valued at £1.71m... I gather there is also just over £1m in cash on the books... It will be interesting to see what valuation is placed on Low6 when that IPO's in the next month or so?
Well there's a rare event, added ½m new shares about 1ins ago, GUN actually then ticked up a little! Now the expected drop (it's compulsory for new added shares lol) Hopefully this will help with a small re-rate, we live in hope lol
@roley, Exactly what I was looking for: > PLacing to raise cash by issuing new shares? > Totals hares at IPO? > GUN share% at IPO not pre-IPO as per RNS > link to prospectus ? Is it just me or is this RNS very light on detail other than RB will IPO on 12-Mar-2021? ATB APR
Gunsynd Plc (AIM: GUN, AQSE: GUN) is pleased to announce that Rogue Baron plc ("Rogue Baron") a premium spirits company, an investee company of Gunsynd, is expected to be admitted to trading on the Access segment of the AQSE Growth Market on or around 12 March 2021.
On admission, following the conversion of all of the principal of its loan notes and grant to it of fee shares, Gunsynd will hold 24,543,563 ordinary shares in Rogue Baron, representing 28.48% of its issued share capital. These ordinary shares are subject to a lock-in period. Following admission, Gunsynd will retain a balance of £111,464 of Convertible Loan Notes consisting of accrued interest.
@techtonic I'm hoping to be very pleasantly surprised by both Rogue Baron and especially Low6 when they IPO most likely Q2. Rincon looks like a slow burn but should also see some decent returns even after the drop in a similar timeframe ATB APR