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Note that with the placing, if Ducking and Diving Dunkerton gets 200 million shares, he will own 225 out of 300 million afterwards i.e. 75% of the company. He will be able to do what he wants with it. Normally, placings are open to institutions, that Dunky will only let himself be eligible, seems like he gets the company for peanuts.
Of course he does either way I guess. My opinion is new money investors would be better off looking elsewhere with his poor track record since rejoining the board, he is no great businessman, he got lucky by getting Becks to wear his stuff a long time ago. Beckham was super cool once but is just an old dad now, which sums up the brand at least in the UK.
He would just be diluting his own shares to his detriment
I think he just wants to keep everyone happy and hoping he can take it private quickly without any hostility and bids
If he does do placement then that just dilutes the shares much less so shares are worth morays just 300 million in issue
Why are you assuming that the open offer is the option that the board and Dunkerton will select? Is it not a safer assumption that IF shareholders vote in favour of everything listed in the rns then they will select the second option which is available exclusively to dunkerton and results in him owning 75% of the business? What’s then to say that he might not subsequently decide that further liquidity headroom is required once delisted that would be for any value of his choosing and for any volume of shares of his choosing and could be voted for exclusively by him and reduce anyone else’s value to even less than now?
Sorry 12666 divided by 300000
Example
30p average now £10,0000= 33,333 shares
33,333 x8 = 266,667 cost £2666
Total 300,000 shares
Total cost £12666
300,000 divided by £12666
0.042 per share new average
RE: Open offerToday 13:05
Ok thanks
So just worked out what average would be if allocation taken up
40p 5.3p
30p 4.2p
20p 3.1p
10p 2.0p
With 900 million shares in issue
Please correct me if wrong
If you hold at 30p say to get your money back the new share price you would need to receive is 4.2p per share ?
Also it will be a bit less than this as I noted that it’s 8 million euro to raise not pounds
Regards forest
It could go to 20p or 30p, it all depends on your outlook of how high the board can get the market cap once the restructure is completed and the company is privately held and valued by auditors. If you think they can get it back to £500m over the next couple of years then after the open off it would be around 64p per share, so how much would you pay today for that? 10p? 15p, 20p. And also it depends on your current average price and how much you want to average down to end up looking at a profit in the future, for people sitting on an average of 40p, they could get down to say 20p and then take their open offer shares and be on a much lower average, it's not just a case of 'need news', there are many other factors to consider.
1) work out the market cap at todays number of shares in issue and based on your average price.
2) work out the market cap that the stock will need to be with the new number of shares in issue, in order to get you to break even.
for example, if i have an average price of 10p now, that gives a market cap of £9.09m today.
option a: an open offer at £0.01 per share to raise gross proceeds of the sterling equivalent of up to €8 million (the “open offer”)
€8m is £6.83m (it's not £8m like some have posted)
£6.83m divided by 1p is 683000000 shares, plus the 99.09m shares already in issue makes it 782,090,000 shares then in issue
to get back to 10p per share the market cap needs to hit £78.2m
this is why i am sticking with it, because the analysts say that sdry could be valued at £400m to £600m if it's a privately owned. the auditors decide the valuation of privately owned companies, not the stock market, and especially not the shorters. i see the auditors quickly giving sdry a huge uplift in valuation the moment it becomes a private company, well above £78.2m, which is why jd is happy to take everyone else's open offer allocation if they don't want it.
more bs from the master of talking his own book i guess. pump n dump is total bs.
people are waking up to the fact that if they accept the open offer and stick with it as a private company, they are (so long as the restructuring works, that's the only gamble), likely to get their money back and a lot more, as per the calculation below.
jd doesn't want everyone else's open offer stock for the benefit of his health, and would happily do a placing to own most of the company if other shareholders prefer it. he knows what sdry should be worth as a private company, and it is far far more than it's current valuation, which has been fooked by the stock market participants that sell and short, like toffers did after he made a nice profit on the way up, whilst ****ging off shorters along the way, something he became the minute he sold out.
how much can our investment be worth if we take our open offer shares. it's easy to work out and you can adjust this to allow for paying for your offer shares, but i left those off as it complicates what is a basic calculation.
1) work out the market cap at todays number of shares in issue and based on your average price.
2) work out the market cap that the stock will need to be with the new number of shares in issue, in order to get you to break even.
for example, if i have an average price of 10p now, that gives a market cap of £9.09m today.
option a: an open offer at £0.01 per share to raise gross proceeds of the sterling equivalent of up to €8 million (the “open offer”)
€8m is £6.83m (it's not £8m like some have posted)
£6.83m divided by 1p is 683000000 shares, plus the 99.09m shares already in issue makes it 782,090,000 shares then in issue
to get back to 10p per share the market cap needs to hit £78.2m
this is why i am sticking with it, because the analysts say that sdry could be valued at £400m to £600m if it's a privately owned. the auditors decide the valuation of privately owned companies, not the stock market, and especially not the shorters. i see the auditors quickly giving sdry a huge uplift in valuation the moment it becomes a private company, well above £78.2m, which is why jd is happy to take everyone else's open offer allocation if they don't want it.
What a day, a blue one so thats good, for those investors still holding after the 2 month JD bid that never was, and then the very poor RNS feeds, today was a welcome break from all the negativity and some new PI's eyeing up an opportunity at a very discounted SP. For those PI's who panicked why are you selling ? You just lock in an enormous loss and the main pain is already priced in. I am waiting for a bid, it might be a cheeky one, but a bid would be very very welcome. Like others i expect the SP to drift back up to maybe 9 or even 10p, to go higher we need some news please. GLA.
Toffers talks his own book, always has done, has no credibility in my book because of this, so best put them on filter like I have.
Nice blue finish to the day with looks like a large buy after hours.
Some more of that again tomorrow please :)
10p by Friday would be great but it’ll probably get there sometime early next week.
Toffee you have a brass neck trying to put a negative spin on things as you repeatedly told everyone things will turn around. IMO not a lot has changed here in recent week, jd lead most down the path with talks of an offer.
What comes next, does he have enough shares to take this private? Imagine it will have to be voted on? Can a squeeze occur if he doesn’t? Seen it many times before
StickyToffeeAbsolutePudding offering advice on dealing shares 😂. Advice you’d be advised to steer well clear off.
Well Done - to all of those folk who managed to recoup or make some money here today! 👏👏
Slacker, you're up against GSA Capital who only recently increased their short, and a company that is going down the pan to admin. The shorts will win out. simples.
Really? I don't have any balls the last time I looked :)
Supoerdry now really climbing can it be number 1 today ....i also like INHC and see a massive rise coming here too.....last 40 minutes should be exciting as this is cheap but high risk
toffers you've got some ****** to come on here and throw ****e around!!??
Yes I agree
What you need to realise though is your average will be alot less because you havd bought 8 for 1 at 1p each
The calculations I did are roughly correct (prob bit less as you say are in euros )as what the new sp would be to get your old average
StockCheque, you've been left with egg on your face!
The shorts, GSA Capital, are still holding strong. They have balls but they also have experience!
Forest34,
The best way IMVHO to look at it is:
1) Work out the market cap at todays number of shares in issue and based on your average price.
2) Work out the market cap that the stock will need to be with the new number of shares in issue, in order to get you to break even.
For example, if I have an average price of 10p now, that gives a market cap of £9.09m today.
Option A: an open offer at £0.01 per share to raise gross proceeds of the sterling equivalent of up to €8 million (the “Open Offer”)
€8m is £6.83m (it's not £8m like some have posted)
£6.83m divided by 1p is 683000000 shares, plus the 99.09m shares already in issue makes it 782,090,000 shares then in issue
To get back to 10p per share the market cap needs to hit £78.2m
This is why I am sticking with it, because the analysts say that SDRY could be valued at £400m to £600m if it's a privately owned. The auditors decide the valuation of privately owned companies, not the stock market, and especially not the shorters. I see the auditors quickly giving SDRY a huge uplift in valuation the moment it becomes a private company, well above £78.2m, which is why JD is happy to take everyone else's open offer allocation if they don't want it.
Well not really, as I 'was' up over £10,000 having bought at 18p but then stupidly bought back in (twice!) and promptly lost just under £3,000!! More fool me! Anyway, each to their own as I say here, but still be very careful, as the tide can go out mighty fast on penny shares like these. . .
I said it yesterday that there will be opportunity here. Good luck to all those still holding.
I'm up 3% already since selling. no stamp duty on PFC. and no trading fee as I used my free monthly trade.👍