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Amigo has an organisation lending money is almost totally finished but other business areas who knows!?
It’s a straightforward RTO with cash used to dilute current equity to next to nothing-will end up on the main market
Ok two thoughts as I just noticed Troajan with 97,999 posts, wow, better make the next one count! Well done?
Ok so hopefully we get a positive rns with deal done, we may be diluted but AMIGO SURVIVES....close your eyes and imagine the expression on poor old bitter Flyhighs face! Priceless, cheered me up!
Good night.
Nope, I just dont get it. I understand our bod grabbing any cash on offer for their salaries but it's not to start up our business but a new business we have no experience of. Or is it part of a master plan? Presumably the other side are bringing their own experience as they can't want ours or need a loan! So what's in it for them? Can't just be listing on AIM?
Hightower what's your take on it? 😉
To clarify, is the intention that the £5M comes from Craven House, so no RI, but we gain some start up businesses in return for dilution?
Yes-I tend to agree.May get a bounce from the new business but long haul
Who says he's leading? He's going to 'help'. That's a far cry from leading.
@ppopp - the RNS says significant. That's not going to be 10%, they're telling you already.
With wording like that I think at least half is gone but I'm expecting 80 to 95.
Just from my own past experience-won’t be pretty but enough to encourage signing the paperwork
Well.. hands up who saw that coming ??
Hopefully, after all the 'big boys' have stuffed their pockets full of 'filthy lucre' there will be a few breadcrumbs left for the rest of us long suffering plebs !!
GLALTP !!
🙈🙉🙊
Danny Malone is going to lead negotiations; come on.
We have no hope.
Why 90% ? It'll be the shares needed to make up the £5m plus however many new ones for the buyers. Could be 10% or 200% who knows
That may be the case long term but as things stand, it’s going to be 90pc dilution in my opinion-tokenism if you like just to get signatures
Ultimately this is high level Chinese / Hong Kong take over.
Look into Desmond Holdings Ltd, they are the big fish in this move.
There is massive potential here in my opinion, on a bigger scale than you can imagine.
There is no room in that market for a big player but maybe if it has some sorta weird niche/angle?!
Put the pipe down lol
Craven House owns 29.9% of Garimon, and 29.9% of Honeydog.
As per the announcement below, Amigo proposes to acquire the assets of Garimon, and Honeydog via a reverse takeover resulting in the enlarged group being listed on the Main Market of the London Stock Exchange.
Agreed. Still lots of 'ifs' but if the negotiations go well then the share peice should rise on it
The person who unties the bell also needs the person who ties the bell
Very well played.
''The Company announced on 16 May 2023, that Danny Malone, the CEO had resigned as a director and would leave the Company, after serving out his 6 months' notice period, on 15 November 2023. Further to this announcement of the Proposed Transactions, the Board has asked Danny to continue in the role as CEO until 31 December, to help with the negotiations of the Proposed Transaction.''
Not to be surprise when it open at trading price 4p or more
Good luck all
Sorry but this is great news, haters going to hate watch this space
I think even diluted shares in a trading company which has the chance of improving is better than the firm going bust and losing everything
Really sorry for all the holders here, feel it should never have come to this. Significant dilution in these cases usually mean you might get 10% of the existing share price. Only upside is you may be given preferential options on the shares of the new company.
Either way it's not a great outcome.
That's how I read this RNS :-)
Hmm, not sure how to read this and £5m isn't going to do much. What about those who had previously indicated they would take part in an RI, £15m? Need to wait for details, we were expecting dilution anyway so no change as yet and atleast it keeps options open.
Not wiped out yet.
Gla