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Good on you! I haven’t heard back yet.
I've written to the company now too and I urge anyone else not happy with what they did today to do the same. I didn't mince my words, let's put it that way lol Let's see what they have to say for themselves.
I guess miracles do sometimes happen. I had £3k locked in ICON when it went into admin a few years back. Written it off but amazingly I got it back. So I guess there's some hope here. The company haven't used the 'A' word yet, so I suppose that's something. Unless we get another surprise RNS after hours today. Wouldn't surprise me right now.
Thanks Neil very informative. Like you I was in prior to the original run down, I then made a packet on the run up to 5.5 selling out at 4 which was an 8 bagger for me, one of my best trades to date.
I guess where I was going with my question is when they initially declared insolvency, I recall a similar wording highlighting the potential for no value being returned to equity holders. This seems a very standardised sentence when companies seek urgent help. What I wonder is how this may play out, obviously the situation is bleak, but there are a number of ways a buyer can go whether its at £1 or £1m we don't know.
What also interests me is that in this instance if a shareholder vote is to take place there is no skin in the game at bod level to guarantee approval, nor is there any value in equity shareholders approving it if the package holds no interest to them...
Just trying to overt away from what seems to be a dead duck.
Long story Gordon.
It went to 0.17p and finished 0.22p on the Friday and the Monday it was 4 days away from a court appearance to let a judge decide if they could become voluntarily insolvent, even though twice share holders had voted against this.
The the RNS dropped that 2 new guys wanted to basically take over and look to do RTO with an unamed party.
The court case had to go ahead but the judge allowed the 2 new guys to take control and ITS as a shell continued.
OK so it was around 3.50p at this point but an RTO had to happen before mid September [I think was the date or they had to temporarily suspend.
The SP kept on dropping then rising in August but eventually went to around 1.50p before they RNS to say they had 2 parties interested in an RTO but nothing was certain and they had to suspend next day.
SP went to about 0.50p before ending on 0.77p them suspending and were it is now.
They have to March to find an RTO or it will not come out of suspension and it will delist immediately.
If they complete the RTO before March then it's ahyones gues what MCAP and SP will be.
I got out in July with a ridiculous profit as I bought at 0.21p the Thursday before the big Monday RNS.
It went to 5.50p but I was unfortunately out before then.
Hope that helps lol and we are non the wiser to how close the RTO is or if it will happen or who to.
March as I say is the deadline
Having a look at the major shareholders list which is dated back to May I cant see any TR1s other than Henderson's to suggest that these players have reduced. Surely they didn't get all out yesterday as the volume wasn't there albeit a decent number.
CABP is still dropping there's no rush to buy in there but it was 215p on Monday now less than 50p on 17% reduction in forecast revenue.
A very subtle cross-ramp SmoothOperater 🙄
Game Over Folks.. CABP was a better option for traders as the big holders can't get out until December, thry got out of here yesterday.
"it has become increasingly unlikely, in the reasonable belief of the Directors of Safestyle, that any Proposed Sale, even if it was completed, will result in any return to shareholders."
Neil what's your views on a ITS situation playing out? Can you remind me what happened there, I recall initially the bidco who bought ITS was looking to delist which was overturned leading to the situation they are in now!
Cheers LV1991
Some you win and some you get too greedy and put money in even though you warn others against the share as you genuinely think there are too many red flags but still fancy a spike haha
Sorry you didn't get your spike Neil, I think the demand has collapsed in the last 4 weeks since the problems became known and prospective customers will have been chased away. Their cost base seems to have been far too high and fixed to deal with a downturn - I don't think the Directors saw this happening when they bought just over 8 weeks ago. Stay focused and am sure you will have other successes
Then clearly you don't understand LSE and how many trolls there are with an agenda. You have a new account with 27 posts on one share. Not exactly great credentials there for us all to listen to your brilliant investing advice.
Appreciate your Feedback Yel, unfortunately I hadn’t read your previous posts as they are insightful.
Perhaps you can share what you believe may happen next here? Assume it will be taken privately, what then delist, will the shell be maintained? That would be the interesting part and something that may be of value to buyers? Serve up a potential RTO, we all know listings are worth a lot more than the current MCAP. An ITS style scenario is that still possible?
Bond... clearly it was and thanks for proving my point.
Oh no worries neil and i do feel for you. I actually thought their might be a spike or 2 but there have been a surprising amount here (i think mainly through blind greed) who were talking about this getting huge returns and more saying it definitely wouldnt go into administration (not you). Which anyone who knows the industry well knows was almost certainly going to happen. I would put money on knowing exactly who the interested parties are.
Yvellkan, who do you think you are that you think everyone should listen to your investment advice as gospel? You're just some random bloke posting messages on an anonymous investing chat board. I don't know you from Adam, so why should anyone listen to you?
There have many many instances where PIs have made money on shares just before delisting/admin. MADE went from 3p to 10p, before it collapsed to 0.5p then went into admin. Some people made a lot of money there. It's not unreasonable for traders to expect to be able to make money on some companies, even though those companies are close to the end. It's happened many, many times before and it will again!
I was told many times on the QBT board by people just like yourself not to buy QBT at 0.88p. But guess what? I did and I made over 200% profit in a month! If I'd listened to them I would've missed out!
You and your ilk are nobodies here and your opinions are worth less than nothing! Can you blame us for being sceptical about non-investors who frequent these boards all day and post more often than actual investors? What's your angle? What's the reason? It's not normal! It's weird and frankly I hope you find something better to do with your lives. We took a gamble here and we lost due to massive corruption from the BOD. You win some, you lose some! We'll survive.
Your advice is not needed!!
Yvellkan hope you are well.
You are correct for sure but myself and a few other greedy sods [sorry guys] didn't think for a second this was NOT going to admin I genuinely don't think. I certainly thought it would eventually but not before money was to be made... wow got that wrong.
It's all the AIM gamble which seems to be catching more and more out.
Only a couple here posted saying this company was too big to fail and directors were buying at blah blah.
Most knew that didn't matter but were here for a spike that never came.
I appreciate your knowledge in this area and I did read all your comments and I myself had said it was finished with all the red flags.
Unfortunately the gambler in me and my experience of these distressed shares expected a a spike.
Gordon many of us in the industry have been on here warning of this for weeks... no one listens. Its like some investors think they can just look at the numbers and know everything. But when someone with 20+ years in the industry tells them more info its just dismissed as an opinion along with everyone elses who know nothing more than the public statements. Even yesterday people were on here not listening and i point blank said no one in the industry will touch this before administration.
I have been burnt badly back in 2019 when I had all my eggs in one basket in Nanoco and Apple 'unexpectedly' pulled out. I lost £23,000 in an instant.
I realised I had a gambling problem masquerading as an investment 'strategy.'
I get frustrated seeing people lured into a similar mindset.
404x, I agree, someone's going to get an additional ~£140m turnover added to their business for next to nothing.
Yes but the RNSs imply it's now a just a formality and if rules apply also when it's deemed to be imminent. What I'm getting at here is what's the betting on this winding up as a pre-pack being bought by related parties. Assuming admin with liability wipeout whoever acquires operating co is laughing.
GordenBennett
if you can hold MSMN for Next year February, which is only 3 months away, then MSMN has big opportunity
mcap only £1.5m
always Dyor guys
You're embarrassing Earl
Thanks but like Neil I will probably steer clear of aim for a while and focus on building positions is bluechip FTSE companies with income incentives and QBT.
The way this has been handled is stinking.
Alternative to SFE, looks like MSMN
few good rns missed by many....
worth a look Gordonbennett