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I think instead of venting your frustrations here, some action is needed.
The whole dealings from the creation of this group to now has been built at little cost and risk to Cooke and Raven but all the reward. Every deal has cost the shareholders and after each dilution they pic up cheap shares (at least they paid for some of them)
They surround themselves with other shareholders including family, long standing business acquaintances, and Tavistock management, and they are free to make whatever decision they wish unchallenged and claim the 'loyal support and backing'. This makes any challenge difficult and every vote so important as they hold such power.
Id support any notion of no confidence. They only time I have witnessed the BOD's react to anything is when issuing more shares or trying to push 'incentives for all' through, AKA giving Cooke and Raven 25% of any potential sale..
In reflection here is my view on that.
Out of the blue, the glorious 2 offer a growth incentive, based on a value of 4p. then without any alleged challenge they sweeten the deal to try and ensure every shareholder just agrees without really understanding what else was lurking in the later pages, that Cooke and Raven get 25% of any future sale....
Team appeared with a cheeky offer. As bad as it was, some thought it might be better than the current position. Tavistock called this a 'distraction' to the now obvious Titan deal which was obviously already well into negotiations. I'm sure this deal wasn't knocked up over a pint quickly and this has been ongoing for months.
One must wonder and assume that they tried and tried to push that incentive through, even with desperation as the Titan deal was in the wings. They wanted the 25% and it failed....
On the back of this, they slap a new share option down they day after the Titan announcement like spoilt petulant children and a big 2 fingers salute to long suffering existing shareholders (who had a glimpse of hope for all of a 24 hours) and new shareholders who got caught in the spike.
Look were we are trading on the back of this news..... IS it any wonder? People still ask why....
You could make a film up about this and the viewers would be asking 'They surely cant do that can they?'. They could play themselves and make the perfect villain's.... Get the popcorn ready for Toxic Tavistock part 1. Should be a cracker.
Good luck all, do your own research, keep the faith, at least footballs coming home.
Yep same here , you could say I’m a little cheesed off !! I sold ORR at a bad loss to get in here with promising good news , following day more good news profits up 50 % since then it this hasn’t stopped going down ! Damn shares ! I should never have sold SAR huge profits yesterday! Now I’m banking on my biggest holding which is very high risk SPC taking off or my 15 year share purchasing could be over , luckily this is money I can afford to loose . 7 digital and Omi boosted me right up last time , no joy since then !GLA
Must admit I've been caught in a spike, I expected this to go to at least 7p on the sale, has to recover a bit once the 20 mil is in the bank surely
I get what the long term holders are saying and to be frank they are correct in their conclusions around the Directors.....murky waters , but I do still think there is potential here. The market got scared with the dilution and the way it's was done.
But for me there is still a good deal on the table and some new business. So I will wait till the dust settle a bit and buy some more.....we will see if that was the correct decision in a few months...
People have been well stung including me now down too 3.78 fu...... joke
What I dont get more buyers today than sellers nearly treble down in the red and the f....... spread the last few days is a joke what are they trying to do put buyers off ??? any clues
Magicman
Think you nailed it right there.
Very sneaky diluting after the previous RNS's. No trust in the "upto £40M" statement now.
Taking that as a maximum but could be well short of that figure which would make the options placing an even bigger dilution.
Definitely no confidence in this board unless it’s in lining their own pockets to the detriment of everyone else.
Must admit I didn't expect to be back down at these levels, we have between 20 and 40 million coming our way with a MC of only 24 million, something doesn't add up to me, anyone else got an answer? Lack of confidence in the BOD is all I can think of.
I can see from your messages that you've been in this share for along time. I agree in respect why should we buy in open market when they have a free ride.
I'm one year into shares maybe I'm being a bit thick! These recent are amazing aren't they and we should be valued at more then 26m MCAP? Or am I missing something! Love to hear what you more experienced people think
Hi Devil
The recent purchases at 5.25p are fine a signal of intent, bought on the open market. I agree.
The grant of options however, are completely different. As i understand the company needs to create 11.5% of new shares to facilitate the grant of options, therefore diluting the value of the shares by the same amount.
These can be exercised at anytime, with no performance requirement. so if the company Share price is trading at 10p, they can execute the 5.25 purchase and dilute or as I prefer to call it, 'steal' the value from every other shareholder.
'Tavistock, the financial services group, announces that it has granted share options, with an exercise price of 5.25p per share, over an aggregate total of 70,000,000 shares (representing 11.5% of the Company's current issued share capital) to its Executive Directors, being Oliver Cooke and Brian Raven. The exercise price of these options has been set at a level that represents a premium of 11 per cent. over the Company's closing mid-market price on 14 June 2021. 40,000,000 of the options are being issued to Brian Raven and 30,000,000 are being issued to Oliver Cooke. The options are capable of immediate exercise, have no performance conditions and are not being issued under the Company's EMI Scheme.'
So, my take is-
Long term holders once more have been **** on by the greed of the BOD's who have never aligned themselves with any other shareholder. They take advantage of diluting the business to expand at no cost to themselves. I question the amount of shares held against the actual cost to each of them.
One questions how they sleep....
Financial services prides itself on transparency...
Good luck all.
DYOR
I'm not sure of there history but options like this are very common, at least they also brought open market as well
Well this should have moved forward further, but the the BOD's have an incredible habit of showing their greed and turn a fantastic day into resentment almost immediately as their true colors come out again.
I will sell my holdings at 5.24P IF this is achieved. Unless however a vote of no confidence is made, but im sure they will have written into the terms these issues will remain in place regardless. So rather than see a further (how many is this now) dilution and have another 11% value stolen from me, ill just get out.
A question I've read many times on various forums is 'why is this trading so low with the business model'.
The answer is simple. Put a cup under a running tap and see the inflow of water. Unfortunately two straws are in the cup also, and they are busily sucking the water out....
So, as the previous attempt to pinch 25% of the business was thwarted, as everyone other than their mates caught them out, so they make this retaliation move, which was approved by past guess who.....
Sickening. This should be flying high following the news, and people still ask why and wonder why it isn't.
DYOR, see previous failed 'incentive' offers and RNS updates.
2 reasons it isn't. BR & OC. The BOD's and shareholders aren't aligned, never have been and are fed up of being constantly **** on.
5.24 and im out
Hoping this moves once the cash is in the bank. Anyone got any idea how long the FCA normally take to approve deals?
Looks like everytime this tries to move forward its getting sold into cant understand this share 2 good rns and then the spread as if holding this back
Chair Oliver Cooke has purchased 1.1 million shares in the company at 5.5 pence each, totalling GBP59,400. He now holds 30.0 million shares overall, reflecting a 4.9% stake.
CEO Brian Raven has bought 900,000 shares for the same price at a total of GBP49,500, meaning he now holds 68.3 million shares, representing an 11% interest.
Directors showing support for the share price at 5.25 which is positive
Why can’t they just close the spread. I’ll come back next week and look at the sp the price is ridiculous can’t believe it’s red today
With many others that have done research this is just stupid it up and down more than a hookers pants
The spread is stupid sell is at 4.51 HL need to update better
I can’t believe the sp today it’s crazy
director buy probably sets the base, nice 20k buy just happened swingy day
Although this spread is ridiculous, putting off buyers?
Something building up here I feel
Directors share dealings - good on them....
Disgraceful from them !!!!
So in simple terms, we take you're 5.89p value (if £40m is achieved) plus 1.25p for half of the business that is not being sold. We had some very good results today turning a profit + additional contracts, so that should count for 0.75p. Then we still have a company that should be trading closer to 8p than 4p.
Only my view and happy to be corrected