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...someone in this sector is going to realise there's a basement bargain to be had here. There is over half a million quid of stock let alone the IP and future potential earnings for someone who can actually sell the bloody things!
£2m would get my vote where as the current slap in the face will receive what it deserves. Directors need to offer lths at least something to get this through. I"m in favour of voting against even if I lose everything. I will not stand by and hand everything to RRs on a plate
Anybody other than the bond holders that vote for this proposal must be mad. Not even 40 pieces of silver are on offer. I cannot see how the board are going to get the necessary votes to get this through. The company is almost up for sale.
I’m amazed Lindab or MErrotile aren’t making a counter bid of £1.5m. For the IP alone it would be a bargain
History has taught us that this management are not to be trusted which means we should do the opposite of what they request.
I fear there may be deal costs that, in the end, mean the shareholders are completely wiped out.
We either almost certainly lose everything and vote to allow them a few more lavish holidays or we certainly lose everything and take them down too.
Which do you prefer?
I'm amazed the stock isn't much lower today -maybe I'm missing something.
Is that the one Rob Richards is involved with?
It wouldn't surprise me in the least if he has deliberately held VDTK back so he can make the most of it with this other company. Should be illegal.
All the signs have been there and I've even recognised them but simply didn't believe people could be allowed to do this with listed companies. Shows just how crooked AIM companies are and the Directors who run them are.
What a loss! My own fault. Well, with a little help from RRs too
Heavens sank Roger, I really do feel for you, as no matter how much money you have £1000.000 is a lot of money.
My £2000.00 is bad enough to losee for me. Main problem with Verditek panels is that they are far more expensive than the competition. Also why spend so. Much on R&D if you are not selling the ones you have developed, and getting cash into the business.
Have a read up on fly solartech Roger. You may notice a familiar name and location
Thank you.
I have over 7m shares here, bought over the last 4 years, and they are almost worthless now. Over £100k down.
I’m left with little choice it seems: accept I’ve lost the lot or take another huge gamble that someone might actually be able to do something with this technology and the products which are excellent. Seems Gavin Mayhew might be at the heart of a new team taking it forwards. At least he put some of his own money into VDTK recently.
What ever happens I just hope and pray Rob Richards will not be involved.
Dare I ask what others who still hold shares here will do? Feeling gutted even though I knew something like this was inevitable.
Roger65
Verditek will sell all of its assets for £50,000 in cash and cancellation of its loan notes.
You keep your Verditek shares which no longer has any business or assets but it retain it stock market listing.
A new management team may put some cash into Verditek and try and find a new business venture to buy.
The alternative is probably insolvency and you get nothing for your shares.
Can someone please explain this in basic terms to me?
Am I being asked to vote and approve handing over my shares to a new company for the value of about 0.07p?
Or do I actually manage to hold on to my shares but in a new company that will have Directors who were happy to drive VDTK into the ground so they could get it on the cheap and dilute my investment to the point it’s almost worthless?
Decisions, decisions…
Do they expect us to vote in favour? Show us why it would be worth it.
Diabolical treatment of shareholders. No news for months, and now this.
Careful what you wish for and all that Roger …..
board are terrible. Shocking rns but not entirely surprising.
J
Moron's what??
Why don't they just put us out of our misery?
Moron's.....
This from the end of Nov RNS
..the Company is in discussion with a potential strategic partner, active in the solar energy space, concerning a possible collaboration including taking a significant stake in the company and a possible Joint Venture.
Sounded good until share holders realised they wanted to be a 50/50 partner for no cash. I am fairly sure that will have been MTG or Lindab and once the BOD were told what to do with giving at least half the company away there is no deal and VDTK will either be taken private or its IP bought once it's gone into administration. Either way share holders are going to lose everything here. Typical AIM crap and truly questionable and shady management. Fully expecting the axe to fall next week.
Nah, I reckon it’s over. Buyout on the cheap is our only hope. £1.5m if we’re lucky
Huge number of bot trades. Not sure what that's all about.
I agree that administrative costs are way way too high The loss per £ between revenue and costs is coming down and the move to the new factory should bring costs down even further. If sales are rising, economies of scale should help. I still believe that the company has a decent value due to the proven sales of its product. Whatever happens I will one of the last to know about it.
I seem to recall that MTG were meant to try and sell 850kw worth of panels and that this meant costs could be cut by VDTK in manufacturing in bulk rather than piece-meal. Or have I completely misunderstood that?
Yes they sell products. However, the costs still exceed revenues. In fact, based on interim results 2023, operating costs exceed operating revenues, so even to get a product costs more money than it brings in.
Roger, Verditek have a product that is selling. That means it has value. Metrotile do not seem to be concerned that their product supply is going to stop,
I admire your optimism twink. If I walk away with anything from this it will be a very pleasant surprise.
atb
Roger, I share your frustration but things are beginning to turn. Metrotile are only the UK arm of RTG. Similar mock up roofs will be ongoing all over Europe. RTG believe in this product hence the investment. If you look at the article from Metrotile on the 12th you can see how good the product looks. Why Verditek have not mentioned these bits of good news is strange.
Look on David Padmore blogs on linkinin. He is the sales director at Metrotile. Dion Black posted that a mock up roof had been built for a major house builder. Says they were impressed with the whole setup and is confident of at least a pilot order.
Had a good look, but can't locate this little piece of news. Could anyone please provide a signpost? THX