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After the loan conversion to shares, BVT will own 67.1% of Defenx and Stecconi will own 2.58%, so together: 69.68%. They have the right to delist if 75% of shareholders agree. But they are the only shareholders with >3% share holding so they are over 6% short of what they need to do that even if they act together. They could achieve it by stealth though by continuing to issue convertible loans so they eventually acquire 75+%.
However, I now have greater confidence that the RNSs are credible. The revised website is a great leap forward, evidence of investment, going global and a genuine sales channel. It is consistent with their RNS saying they will relaunch in Q1 in which they also said that they are committed to providing value to their investors. We seem to be turning the corner and now have some justification in believing the RNSs.
The trades continue to baffle me though. Today's £27.47 buy, less trading fee, is bizarre.
So previously there was the Linkd in job advert which mentioned rebranding and relaunching, then the board mentioned new product launch in Q1. With the final loan draw down I make them around the 68% ownership mark, so they could go for a takeover or delisting with enough extra votes from a large holders. However, why rebuild and relaunch the website in line with the direct personal and business customer sales strategy if they were to absorb it into the BV Tech group? Not saying they definitely won’t absorb it, they are cash rich and aren’t listed themselves. Will they incorporate the secure messaging platform the bought from BV Tech and couldn’t integrate previously, is this the new product or have BV Tech got other products of this type they could wrap up as Defenx offerings? Just for 5h4k35p.... looks like a double bagger to me!
Indeed it does look good, lots of buys today, let’s hope this is the start of the recovery
This is extremely encouraging indeed. The website now has a brand new appealing design and is highly performant. They’re at last getting serious about marketing their products and services. You can actually purchase their offerings now instead of waiting minutes to be transferred to a page in Italian. And the new website is now multi-lingual with a very diverse range of languages showing that they’re reaching out to new territories. This website is very professional. They’ve spent quite a bit of money using some very competent people to enable a credible relaunch. At last!
Is it me or is the website a new design?
Agreed, the volume and size of sales has just been strange, nobody would sell like this realistically.
Still a few broken links on the new website. But in general, now all functioning. - Has the relaunch begun...
The website is indeed back now to its former crippled state. But at the time that I posted it had been taken down and a page from the ISP substituted saying the domain name had been parked.
What I find odd about the trades is the sales of trivial value, e.g. £30. The trading fee makes such trades completely uneconomic. It’s as if those trivial sells are being deliberately made to hold the price down.
Odd isn’t it, BV Tech are obviously heavily invested in Defenx, and continue to financially support and increase ownership, but other than reduce costs and promise to balance the books in 2019 we haven’t heard anything other than the promise Of new products and a relaunch in Q1.
Correction, there is only one buy, 19106 shares at 7p (on HL it showed two)
It is still working but no better than before, chat assistant appears and not all links work. Interesting how small sells drop the price so much, the two bigger sells at 7p we’re in fact buys.
The www.defenx.com website has ceased operating.
Hence, I don't know why you keep saying it. It's the same thing you keep saying all of the time. I don't see the point of repeating the same thing ad nauseam.
If I really thought what I wrote on here made a difference then I’d probably post more. The fact is that assuming they keep their promise of product launches in Q1 ( I know that promises are often broken) then this will move quickly, assuming the news is positive. It’s still risky, you’d be stupid not to beleive that.
I don’t why you keep trying to talk this up. It has no relevance nor effect. This will recover when DFX do some basics like getting their website working so the world can actually buy their products, not web chat.
So few shares in free float, when the anticipated product launch and rebranding occurs this qtr I think we could easily see 16-18p Here’s hoping.
Some really odd buying patterns today, maybe the same buyer?
“The Group has also been enhancing its product portfolio as part of its Defenx 2020 strategy, and we currently anticipate launching new products in Q1 2019.”
Funding sorted and a tiny mkt cap. BV tech is getting nearer to 70% now and will do so if and when the further loan is taken. Company expects to be cash flow positive this year.
It clearly suits all to maintain the listing. We dont know why......they could easily get agreement to delist now if they wanted. It might be they have a plan to sell DFX on in time as and when it recovers. It was 200p a year and a half ago and they might be taking a longer term view. A listing is always helpful of course but does not come cheap.
A bit of a mystery......but then I bought a load in the last placing at 8p and they soared to 34p briefly so I have some at no cost. Even bought some more below 8p. Limited free stock around and on any decent contract news we will see a real spike here.
..ment.
If BVT acquires 75% or more of the shares they can delist the company from AIM with impunity and our shares become untradeable: https://www.theqca.com/information-centre/markets/1441/delisting-from-aim-issues-arising.thtml
https://www.sharesmagazine.co.uk/article/owning-shares-in-a-delisted-company
BVT in liaison with Stecconi, who resigned but still has a significant interest and share, have a combined share ownership of 69.68%, after the loan conversion. Uncomfortably close to the 75% dominating share proportion but not quite enough, unless other shareholders vote with them.
The main reason for companies delisting is the cost of maintaining AIM membership which currently costs Defenx circa €234,000 per year. BVT appear keen to keep Defenx on AIM though, hence them publishing their accounts by the deadline by which they would have gone from suspension to cancellation.
that`s always the possibility when they have such a large percentage , regardless of intent from previous statements
On the flipside, what if they keep accumulating shares and then just de-list from the Market?
Anyone with more knowledge know if they could do this without buying us PIs out?
I just want to break even now tbh.
'On admission of the new Ordinary Shares, BV Tech will be interested in 22,697,008 Ordinary Shares, representing approximately 64.0 per cent. of the Company's then enlarged share capital.'
BV Tech will want this wayyyyy north of 8p with a 64% ownership
Product launch news required. Come on dfx.