The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Think header say clearly & sad but worse is not to understand.
- 0.25p Offer need to be accepted otherwise company go BUST with near term cash need. Understand this mean they HAVE TO ACCEPT offer. They CANNOT hold out or play hard negotiation.
THIS IS VERY IMPORTANT TO UNDRSTAND!
"In the UNLIKELY event that the company was able to raise sufficient funds through the issue of new ordinary shares."
This us why board are "PROGRESSING" recommendation of proposal.
Anyone who think company in position to negotiate higher offer have not read RNS or do NOT understand.
This is 0.25p offer or BUST!
My main holding MATD not VLS but I watch it and understand. Investor should do what they want but think my understanding of RNS is 100%.
Be Wise & good luck 🦉
Buyers still willing to take millions at 20-40% above the offer price so 0.25p may not be the final offer for sure. Or its the sellers from last week at prices up to 0.98p closing out for a nice profit.. or it's just punters punting that it'll go for more than 0.25p knowing their max downside is 0.25p.. who knows #casino
Do MM (MARKET MAKER) lose money too?
"The evaluation of the (0.25p) proposal by the board and its advisers is ongoing and the board recognises that it should assess the proposal as a whole in light of the company's very near-term funding requirements and significant long-term funding needs...The board is continuing engagement and discussions with the consortium and its advisers with a view to progressing and recommending the proposal,"'..so 0.25p per share may well be accepted.
https://www.gov.uk/government/news/billions-of-investment-for-british-manufacturing-to-boost-economic-growth
this govt talks ****, all this noise about climate and spending on it! certainly didnt happen for vls!
It's more about the promise of sufficient finding to keep the business going - which will be in the tens of millions.. otherwise, as Warebore said, the company would have to turn out the lights at the end of the year..
No one ever takes 1st offer that's a cheeky price going that matched funding of 30million and land and technology is a low offer . Land deal Ingham is 100million
The market seems to be telling us this might just go for a bit more than 0.25p.. maybe 0.5p. Let's see where this goes.
Not commented on here for a long time out of pure anger but I cannot believe how incredibly right all the nay-sayers were about this man for all those years, apologies to you all!
This man has achieved next to nothing (especially in 2023 when it has been LITERALLY nothing), has been paid huge amounts and has literally slept-walked this company into oblivion. Remember the last company presentation I saw himself and the FD were saying its Velocys' model to never ask for more money than they need hence the going concern statement on the statements. Incompetence when the markets were as they were is mindblowing.
I was going to place an order this morning, phew that was almost a costly mistake. I feel for anyone who has lost on this share, it looked a good prospect with RR a customer. GLA
Maybe it's just an opening offer though and maybe it'll go for a higher valuation than just £4m.. FFS, Rolls Royce or BA or someone like that could have picked it up at that price and actually had a potentially valuable asset instead of some vulture fund hoovering it up for lose change.
Interesting though that when the price did crash a few weeks ago it went to around 0.25p... coincidence? Sellers in the know above that price have made a killing in the last week..
My sympathy for shareholders here - it beggars belief that groundbreaking technology in the greenspace should end up with wipe out for investors -something underhand has happened somewhere imv.
0.25p offer? Near wipeout for existing shareholders.
So it turns out the 'smartest guys in the room', the guys buying 1m/2m/4m chunks must have heard there was an offer on the table.. nearly 200m shares churned in a week.. maybe they misheard that the offer was 2.5p per share though.. either way, like the rest of us, they've been royally Wareborned..
What a messs
A third of what the value is now.
4 million value
Is that 2.5p or a fraction of 1p ?
So many people have lost money here, I suspect velocys directors may well get sued by a few people
So much for the great SAF revolution! After all the big talk it ends in utter failure, at least for the poor old PI, as usual!
Game over man...
Cash offer of 0.25 for the company. Timberrrrrr
Mmmmmm
Old news
Https://www.letsrecycle.com/news/velocys-welcomes-government-plan-for-saf-revenue-mechanism/