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I would read the 24.03.21 RNS. The company still has 6 months from 6 April (suspension) to raise cash or to RTO. If neither happens in that 6 months then company liquidated and remaining cash distributed to shareholders.
Please can anyone answer what would happen after 31/03/21 as expiring of 6 months deadline due to being cash shield company?
I'm sure it's just a coincidence but a James Henley bounced in to ABAL with a 3.96% TR1 on 01/05/19 and out again on the 02/05/19.
Now whether that was a savvy trade from 0.775 to 0.95 for profit or a trade with a free carry is a question only Mr Henley can answer.
Anyway, ABAL suspended in the August and announced the acquisition of SYME in the September.
But like I said, I'm sure it's just a coincidence.
GLA
A speculative question :
Some seem happy to buy in the open market right now, but if there was an open offer at 1p and you could sub for 2 new shares for every 1 existing share who would take it up?
Would it take something extra, like 1 warrant at 2p strike for every 4 new shares subscribed to tempt you?
An OO on the terms above could potentially raise £3.3m at 1p and every shareholder would have the chance to take equal part, the remaining £2.7m required could potentially then leave the door open to a 29,99% investor that might want a controlling stake, or multiple smaller significant investors.
£1.2M cash plus 60k ish from warrants. Like I said previously there is some potential downside to the actual cash value but equally potential for considerable upside if a deal can be struck or funds raised for an investment vehicle in the 6 months from suspension. So I think it's unlikely we'll see the MCAP exacting the cash value. Having a publicly listed company trading holds some inherent value in itself and liquidation would just return cash to SHs.
From what i gather the share price is at cash value therefore minimal risk here? Correct me if I'm wrong. £1.6m cash. With a market cap of 1.6m
What does this board plan on doing with this shell?
What is the board even trying to do here?
I presume Mr market asleep in the sun...
Everyone loves a bargain!
Topped up myself this morning at 1.04p
Sure knows a bargain..
I came across this stock through twitter traders, i did some research and i liked the look of it regardless of the twitter posts. My friend who is a investor through his job told me becareful because sometimes shells are dodge taxes for companies. This made me rethink alittle and sit back until i hear actual news instead of investing on the assumption of rumours.
But i think before people hang the twitter traders there were afew that stated to be wary and know all the risks of this gamble. Doc holiday openly ramped it but also openly explained the risks. No different from me telling you to pick a favourite horse at ascot races , doesnt mean it will win.
Up today...! Lol
You’re talking about people’s reputations saying it’s a scam. Two people with no reason to be accused of anything being a scam. They’ve not taken ridiculous wages, they’ve agreed to warrants if they complete RTO, hardly the signs of a team scamming people. You’re either heavily down and aren’t happy with your decision or a deramper. Let’s see what happens hey first....
The company market cap is basically at cash value now, so hold for up to 6 months and see if something comes to fruition or get basically the current mcap in cash back in the event of liquidation. May as well hold IMO.
Never replied... Clearly got a screw loose.
Thank fully sold my shares at a slight loss 3 weeks ago after thinking something wasn't quite right......thank god. Will keep an eye on it for future trading. Hope people have not lost too much, no worse feeling!!
Yes MADGEYBOY a scam. What evidence is there to the contrary?
Nick Lee. I never, ever buy anything with his name attached to it. Same record every time, loads of hopes and dreams, investors buy in ready for the great reveal of.... some tumbleweed drifting across the stage.
I see his other vehicle RGO, AKA Paternoster Resources which delivered FA value for shareholders being pumped now.
A scam lol? Yes of course Nick Lee shown to be a right crook in loads of scams. Jog along you petty trader and see you when it’s back on the rise.
Funnily enough, I went 50/50 into Dev and CCAP at the time and CCAP has wiped out my DEV profits haha
....Fingers Crossed for a bounce 2mr...Gl All OF
I was a bit the same and was swayed by comments from a respected trader on Twitter. Not blaming him, it was my decision but a 70% loss..... ouch. Praying for a big bounce in the morning though no real reason why there will be one. Thank goodness for #DEV
I bought 2.5m shares today