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Ive bought more. Buy when others are fearful
panic ... entirely unnecessary ... but understandable ...
-- BB --
can you expanded on this as we only have 2 and a half days to go for news and why down 10% on 5 trades!!!
why all the scaremongering - plenty of time
Given our low asset level I'd suggest that if the RTO fails after the due diligence is done, the company is probably bust. This is the risk of a shell with assets lower than the fees required to get an RTO away. Especially when they can't issue shares below 1p without a capital reconstruction, which involves further cost. This is why I sold most of my holding.
But the reasons for optimism are still there - NB has a good track record, he's backed this with his own cash, there's everything to play for. On balance I think there are better shells out there (I'm hoping for great things from KIN later this month and PIRI in due course) but I'm happy to retain a modest holding here and see what happens.
Does not sound good for the shareholder as if the RTO fails shareholders a trapped. See if any big selling between now and Friday close or is confidence there of success. Apart from NB, has anybody any clues to what is going on?
“Obviously”? Have you got ANY successful examples of a sub £1m cash shell raising £6m and becoming an investment company? Isn’t it more likely the suspension period starts and they attempt an RTO in that time?
If a successful RTO announcement was made prior to Friday or Friday itself, then the share will be immediately suspended, then all the regulatory neccsities need to take place ie new prospectus for investors etc about the new investment opportunity so however long that takes.
If no RTO was to take place shares will be traded until Friday close and then suspended on Monday open, obviously then the comoany will need to raise 6 million as an investment company.
I guess it’s possible that the update won’t have an immediate suspension but yes you’re probably right. And yes I believe the rule states it needs to be completed in 6 months - in practice there seems to be a little latitude eg KIN announced just before the 6 month deadline and trading is restarting a couple of weeks after the deadline.
If we get an update on Friday morning we will go into suspension on Friday pending the conclusion of the RTO which has to be done in 6 months does it.
Yes given we get suspended on Monday morning I think an update Friday is possible. I'm guessing we're heading into suspension, the interesting question is how far a deal has progressed.
Incidentally having been roundly pilloried on here earlier in the year for being supportive of the original plan to raise more cash than we've ended up raising, I feel justified in pointing out that the KIN reverse, which looks like it could be terrific, cost £850k. Way more than PLMO has.
….on a few buys....reckon nigel will give us an update before end of week....
On no trades at all this is an interest start to the day. Think good news just around the corner now. Stay confident.
Well, I’m in KIN which is one example - if the paperwork is all ready to go, about three weeks. In their case they used the full six months suspension period first though. I’ll be amazed and impressed if NB has got something done ready to go this week.
If we get a RTO this week (IF) How long with the lock down be? Anyone with any experience of being in other RTOs?
at 11:32hrs
Has good form.
I got locked into #LIFE for nearing 2 years but even that may come back. With the right BOD, the risk is lower. There is ALWAYS a chance it blows up though. I'm willing to take a small risk here (don't bet the ranch)
Agreed Investor1111 - people too often blame it on the MMs when the SP goes down. there has been a steady flow of sales today.
If you believe it will pay out, buy in or hold. if you don't, sell.
I've only got a small amount of punt money in it personally.
shares normally go flying up before a suspension, who cares if this suspends as long as its a decent RTO,
Mm's dont want shares. This is a usual pattern of a company going into suspension. Dont be surprised to see red days until suspension. Best time to top up a day before
. RTOs gone okay for me
Work group turned into Gordon Dadds
Senterra tunred into UOG
KIN is turning into Bidstack
DERR is turning into Martin Sorells S4 Capital and Mediamonks
Ive been in all those cash shells and im bloody here also. SO. there you go
Down 10% - they want your share, don't be fooled.
the smell of fear is contagious ... so ... pop into the garden and sniff a rose ... and hold on for a few more day!
-- BB --
Was that a hint draft😉
what gets RTOd here, NB has so many business contacts now.