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I would not invest in here if you paid me. Nuff said.
Mr Magic,
No, I was unaware of the share price consolidation. All I had to do is look at the current share price and see the amount of shares being bandied around to see that a consolidation was on the cards! Hence why I would stay clear of this one. There are much better opportunities elsewhere on AIM right now anyway.
It must not be forgotten that this POS share has already had its nominal share value lowered from 0.1p to 0.01p and it has already had a share consolidation back at end 2015:
https://www.lse.co.uk/rns/RGM/result-of-agm-capital-reorganisation-and-tvr-tfz9p6teu1m1qw2.html
The notion that everything will suddenly change now is puerile imo. This is just rinse repeat all over again imo.
Question is are there enough mugs to pick up the billions of placing shares at prices above the placing price of 0.0275p??
I seriously doubt it.
DYOR
Observation.
Since Thursday total volume has been 1.75 billion ,assuming 50% are buys and 50% are sells thats still 2/3rd of the stock changing hands.
Lets face it at £0.00003p the SP couldn't have gone any lower but post consolidation assuming £0.03 could mean normal service resumes or Parson is as great a spinner as everyone here says he is and the pump begins.Its just too hard to call , it could go either way but 7 billion plus a further 3 billion after that does tip the scales a bit .
Its going to be interesting to see how all the new declared holding RNS's read ,only then will we know exactly how many shares purchased during this period are really being mopped up by Stephen or even Rudyard Johnson himself as well as friends.
I wouldn't be at all surprised if before consolidation day Stephens total purchase since his introduction to RGM a couple of years ago exceeds the overall wealth of RGM itself.Good for him if he does ,RGM may have meet their match cos normally they either exit slowly ,slowly or show their hand/distrust of Bell and then find themselves engineeringly diluted out of the equation .Stephens doing the complete opposite to what every other major shareholder has done in the past and its going to be interesting to see if this strategy works.
It should do eventually cos as we all know commodities have a cycle and with Mambare and a clever shipping DNi plan of sorts its easy to see how one day this could multi bag for everyone.Everything rests on the speed in which the team can get Mambare prepared and ready for this eventuality , how far away we are from the commodity cycle itself and how much more dilution there will be while we all wait for it.
@JezTheFez
I take it you didn't read the RNS then !! Share consolidation is nailed on as the RNS states:
Share Consolidation:
"Following the Transaction, the Company will have 8,687,335,144 Ordinary Shares in issue, each with a nominal value of 0.01 pence. The Directors consider that it is in the best interests of the Company's long-term development as a publicly quoted company to have a smaller number of shares in issue and a higher share price.
As set out in the Notice of General Meeting Circular, shareholders will be asked to consider, and if thought fit, pass resolutions which will have the following effect: that every 100 ordinary shares of 0.01 pence on the Record Date are consolidated into one new ordinary share of 0.01 pence each, (the "Consolidation"). "
Yep roll up roll up ! 8.6 billion bucket price shares to be issued (0.0275p) and then a 100 - 1 consolidation.
You couldn't make it up.
Only possible of course if mugs can be found to buy the placing shares for more than the placing price imo.
Count me not amongst them !
Once the billions of shares are dumped onto the market here, then I wouldn't at all be surprised if they look at a share price consolidation.....say 20:1. I wouldn't touch this one with a yard stick. I'm staying away from anything that C4 Energy are involved with too e.g. NUOG and this share. Not for me..
Pump and dump attempt appears to have failed miserably. Watch them rush for the door now as this tanks.
It was always a hopeless task given the company is proposing to flood the shares with 7 billion more at the bucket price of 0.0275p. I'd consider myself stupid to buy shares at any price above that TBH. DYOR as always
Zumore,
yes I can see your point the SP will probably go down post consolidation.
Before the RGM share consolidation in December 2016 RGMs ancient asset of Mambare sat very comfortable in RGMs then market cap of £400,000. In 2019 weeks before RGMs new share consolidation RGMs ancient asset of Mambare sits very comfortably in RGMs present market cap of £650,000. Though in just over two weeks time RGMs shares in issue will grow from a now 1.5 billion to 8.6 billion which at today's share price will mean RGM will have an market cap of an approximate £4 million.
If you look in RGM rnses from 2006 you can see talk of the ancient asset of Mambare. Yet in those subsequent 13 years RGM have managed to explore a derisory 3% of Mambare. RGM have squandered tens of millions on garbage assets over the years and Mambare only resurfaces when they've got no other assets left. I believe around 9 years since anything was last done at Mambare. So beware about the Mambare hype. I remember a few a few years back when Paul Johnson was ramping Mambare and the then ramp was that Mambare had a $102 billion in situ valuation. So I'm sure before too long that will be dragged back up again.
When all these additional billions of new RGM shares are issued death spiral companies YA + Riverfront will own near 2.6 billion between themselves:. that amounts to owning near 30% of RGMs total shares. Yes they have a lock in period but eventually they'll hammer the share price down when they are offloaded.
So for me my optimism is low.