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Today's RNS shows confidence of major shareholders to fund the growth of this business.
trousers a day and need two million to do it
Just bought a few more this morning. Although Ask is shown as 4.50, still able to buy at 3.99.
Quite given this has had good news today
On ask here
All the twitter pumpers and dumpers are on it :-)
similar to what i said - this deal allows the company to survive Shareholder value is really diminished but what needs to be collated / stipulated that if the bank funding goes, whats the annual saving in repayments - at present this is loss making massively and only upside is if the restructure allows them to potentially make a profit on a month to month basis and have surplus cash for further intended investments - personally i cant see enough saving in the financials on a month to month basis but with cash in hand there is hope - without restructure - Company will go Bankrupt quick
like you it took me time to take in size of the debt, the write off & where the price would go. Sadly I was in at the start at 60p.The creditors I think will want shares at 3.5p. I think the RNS said shareholders could buy in at that price. Probably one to pass on.
To a degree, i agree, the write down in Debt should be good on balance sheet. The big question is the private placing price and number of new shares to be added - circa $8.5m is close to double current MCAP - so a placing at 7.5p is going to see circa 100million new shares given the price was in the 3.5p range prior - it is safe to assume a more realistic price of 4p - so possibly 180million+ new shares
Operating at a loss!!
�75 MILLION IN REVENUE v �4 MILLION MCAP??????????????
shares.Still massively under after this great news.Still got plenty of legs.)))))
we shall see in the interim results in September, all priced in to fail though, surely can only go upwards from todays low
Assets reduced by circa $13million Liabilities increased by $11.5million Loss of $11.5 million This is actually a good deal for the company and allows it a chance to survive - but there is going to be a huge placing here.
Big gap down in morn, be warned chasers
Strong finish, ready for a nice open hopefully. Anyone else really struggling to top up?
Operating at a loss, revenue reducing year on year... Cash position reducing.... list goes on.
GL all.
Wouldn't necessarily call it a pump and dump.... was priced to go bust, $75m revenues, cost reducing 2015 & 2016, looks like MM's are shaking for a big order being filled IMO. I'm targeting 18-20p by August 15th. DYOR.
I don't know There are some big numbers involved for such a low market cap. The banks are obviously happy enough that the business has a future Will watch with interest
Number : 1704F Bagir Group Ltd 25 July 2016 25 July 2016 Bagir Group Ltd. ("Bagir" or the "Company") Announces Proposed Private Placement, Bank Refinancing and Trading Update Bagir (AIM: BAGR), a designer, creator and provider of innovative tailoring, is pleased to announce, as part of the Company's Recovery Plan, an agreement with its lenders, Bank Leumi and Discount Bank to clear all outstanding bank debt (approximately $21 million). Additionally, the Company intends to undertake a private placement to raise approximately $8.5 million ("Private Placement"). "During the recent months we have been working closely with both of our lenders to address the imbalance between the size of the business and its current level of borrowings. Today, we are pleased to be announcing a new plan under which the outstanding borrowings will be partially repaid and the balance written off which will enable the Company to strengthen its financial position, support its operating cash flow and once again invest in growing the business. We are grateful to our lenders for working collaboratively on this," said Eran Itzhak, Chief Executive Officer of Bagir. Agreement with Lenders · Under the agreement the Company's two principal lenders have agreed to accept a partial repayment and then to write-off the balance of all bank loans amounting to approximately $21 million and associated obligations, subject to the Company fulfilling the following conditions to them pro rata before 31 December 2016: o Cash payment of $6.3 million to be funded from the proposed Private Placement ("Cash Payment"). o Allocation to the lenders of 8.33% of the Company's total issued share capital post the completion of the Private Placement. · On receipt of the Cash Payment and issue of new ordinary shares to the banks, each of the banks shall write-off the outstanding balance of the obligations and liabilities of the Company to the banks and any liens, mortgages, and guarantees created in favor of the banks, will also be cancelled. · Additionally, if the Company generates annual EBITDA above $6.5 million between 2016 and 2024 then a contingent payment will be due of 50% of the excess of annual EBITDA generated above $6.5 million up to a maximum payment in aggregate of $8.0 million. Proposed Private Placement · The Company intends to raise approximately $8.5 million (before expenses) by way of a Private Placement from both existing and new shareholders. · Of the net proceeds from the Private Placement $6.3 million will be used to repay the lenders and the balance will be used as working capital to support the business operations. · The Private Placement is interdependent on the completion of the Bank Refinancing. · Completion of the Private Placeme
and under value.:))
I am failing to see the value in this company? Final report is far from flattering...
still under value.Fantastic buying opportunity.))(