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Kin Group seem to have 4,069,194,746 shares in issue (multiple classes) as taken from Companies House dated 11/1/2018.......
That is a lot of shares - and not knowing how these type of deals go down I cannot believe existing Kin Group shareholders will get 1 new share for every 1 existing share?
I wait with bated breath.......
I may have missed something - but where is the 6p per share price coming from?
I hope this does come off, I'll have to find some money to average down if I believe there is a future!!
Presumably that will need an admissions document - and an EGM (with 14 day’s notice).
Hi MorningJan...... You are correct Kin Group share trading is suspended.
The hope is that shares will commence trading as Bidstack this coming week.
The transition from physical to the digital world has got more apparent as global research firm Gartner says that immersive technologies have moved beyond the trough of disillusionment towards slope of enlightenment. “The immersive way of visualizing things to create solutions for solving problems is what it is going to be. We are standing at the point of inflection from where the immersive way of things is going to make its presence felt even more."
Hi , How can you buy these ? If there not trading?
Why a bit iffy lukehere?
I am hearing that all is progressing from a broker or two. Seems tat some hard work still being completed and hopefully shareholders will get an update come Tuesday. (Perhaps more hoping than known for sure)
I am still hopeful but agree days are running out.
RTO still a bit IFFY though ?
Unique in game advertising and given AR VR is all the rage right now. these will get snapped up for sure
jalapem - I would also add that any raise should have been completed by now (given listing will be days away) and thus existing shareholders have had no chance to take further shares at the 6p issue level - That is disappointing.
If you believe in bidstack and the new board then you can buy additional shares on the market sometime next week at 6p or thereabouts.......
I hear you jalapem - but bidstack is the innocent player coming to the table- It was Kin Group and its awful management that has lost a lot of people most of their investment.
My worry is more around the Kin Group directors getting a seat on the new board as they know little about egames and a poor track record.
Now, of course, we have to face the agony of choice as when (or even if) the RTO is given the green light, there will most certainly be a heavy fundraise. How much faith do I have in Bidstack - at present I have yet to be convinced of its potential. I just hope they offer us beleagured shareholders a decent price as in order to have any realistic chance of reclaiming my money, I will have to heavily invest (and risk!!) more hard earned cash just to break even and exit.
Are you really matlot?
I think you may well be right on this occasion - Still wouldn't like to call it though as still things to close down - Nothing is assured but each day ticks the percentage chance upwards.
Including today - just 4 working days to go.
Reading the announcement matlot would not suggest it is done? Just a bulk standard notification that meets the regulatory requirements they have.
My feel is they are close simply as time is running out.
It is GO or NO GO time with all paperwork having to be filed by close next Wednesday for them to be trading Thursday morning 30th......
Announced this morning - The outlook is as follows:-
As announced on 16 August 2018, Kin and bidstack continue to work towards a RTO. Negotiations are at a very advanced stage and the Company hopes to make a further announcement in relation to the posting of a circular to shareholders, comprising an admission document in relation the RTO, in the near future.
The Directors believe that bidstack is a dynamic young business in a sector which they believe is capable of significant growth, and that the RTO presents the Company and its shareholders with an exciting opportunity to invest in a business with significant potential in a developing technology sector.
The RTO remains subject to contract, additional fundraising and satisfactory completion of the necessary due diligence and, at this stage, there is no guarantee that the RTO will complete. Trading in the Company's ordinary shares will remain suspended until such time as the RTO is completed.
Results out this morning on RNS
Kin Group Plc today announces its unaudited results for the six months ended 30 June 2018. The Interim Report for the six months ended 30 June 2018 will be published today on the Company's website - www.kingroupplc.com.
Highlights
· As announced on 5 June 2018, the Company is in discussions to acquire bidstack Limited ("bidstack");
· The Company invested £400,000 in bidstack in June 2018, by way of convertible loan note;
· Cash as at 30 June 2018 of £328,000;
· Operating and administrative expenses of £90,000.
Overview
Under the AIM Rules, the Company became a "Rule 15 Cash Shell" on 30 August 2017.
Following the completion of a corporate voluntary arrangement and placing to raise £1m before expenses on 15 November 2017, the Company had discussions with several businesses interested in obtaining a listing through a reverse takeover (''RTO'') into the Company.
The London Stock Exchange suspended trading in the Company's ordinary shares on AIM pursuant to Rule 15 of the AIM Rules at 7.30 a.m. on 1 March 2018 as the Company had not completed a RTO by 28 February 2018.
Since then, the Directors have considered a wide range of potential acquisitions and, on 5 June 2018, announced that it had subscribed £400,000 for a secured convertible loan note issued by bidstack and that it was in discussions which might lead to the acquisition of the entire issued, and to be issued, share capital of bidstack by way of a reverse takeover.
I just saw this on Facebook - Great place to network and win new business......
Bidstack
6 mins ·
We're heading to gamescom later today and can't wait to meet up with some of the worlds best game publishers! Check out our latest blog on why they're beginning to embrace in-game advertising
Understood.
I never saw the RNS.
I don't think shareholders have been offered the chance to subscribe as common practise is to ask new institutions/high net worths to subscribe.
Will the issue be oversubscribed. Given what bidstack do for a living, I would hope so.
Given what happened last couple of weeks on a similar issue at Argo Blockchain, it is key that existing shareholders do not 'dump' stock or we will see the 6p price fall away.
Will they raise £5m - Maybe, but I doubt it - as that may give new shareholders too much of the company?
@roleybirkin no call, I just posted the RNS. I’d like for existing holders to be given the chance to invest at IPO price, whether that happens is anyone’s guess, likely high net worth and IIs only.
What size of cash do people think they will raise? Around £5 million?
Hi Themis.
Your information sounds accurate and interesting that you posted today.........
Did you get a call?
Just curious as the days are ticking away and I guess my worry is silence is not always good, however I remain quietly confident.
this will be sorted in my opinion
Close, but no cigar.... yet
Kin and Bidstack continue to work towards a RTO. Negotiations are at a very advanced stage and the Company hopes to make a further announcement in relation to the posting of a circular to shareholders, comprising an admission document in relation the RTO, in the near future.
The directors believe that Bidstack is a dynamic young business in a sector which they believe is capable of significant growth, and that the RTO will present the Company and its shareholders with an exciting opportunity to invest in a business with significant potential in a developing technology sector.
Hi Louis - I understand your frustration but both KIN and Bidstack have every incentive to get this done.
To fail now would mean:-
- KIN de-listed but they would get a payoff from Bidstack on the £400,000 loan as it would become payable
- Bidstack other than the loan repayment would have to pay legal and third party fees maybe as high as another £300,000 plus
To fail leaves two losers......
My guess is they will get this done. I am 55/445 in favour at the mo.
Disappointment has been the name of the game with Fitbug/KIN for the almost 4 years I've been in it.
I'm already resigned to reading their excuses as to why the RTO never came off.
Guessing that a lot of hard work is being done behind the scenes now and the days count down quickly from here.......
Fingers Crossed but disappointed that so little news is being made available.
Just the 9 working days left if a listing is to happen on Thursday the 30th August.