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I had been warning that this is most likely outcome since 2022 but always got shot down instantly by a few here who continued to try buy themselves out.
This company showed no success in 22 and it should have at that point. US flop EU flop. Small contract wins flop even a so called NZ air deal which imo was done on a special rate to try hide facts.
TB is a flop that cost shareholders their money which he simply didn’t care. The only thing he wanted was to try get his HIS baby afloat at any cost. Now sells out to Chinese. I don’t think that’s a surprise either imo and all been played out to escape after he realised taping the UK market no longer works like he hoped. Bad advice all round here.
“ NFTs
Posted in: EISB
Posts: 458
Price: 1.025
No Opinion
You were warned25 Jan 2024 12:14
I explained that the business plan is awful and it still is until they drop prices lower than fever and grab volume. Tony’s brand is good but the direction of exclusivity is the problem. They need to drop expectations and think about surviving. Unfortunately that imo won’t happen.
“NFTs
Posted in: EISB
Posts: 386
Price: 1.225
No Opinion
Few million required3 May 2023 15:25
The issue is funding and nothing to do with any poster stating the obvious. If people are trying to average down be prepared as 2 million now will be more than 50% dilution of the SP.
I am surprised that management have sat on their backsides to raise capital so late here in this market. That’s exactly what happens to others that shut the doors. Too little too late springs to mind here. Protect what you got as managers are not looking out for you here they are looking out for their pet project which was supposed to find cash easy here over on the UK main market!!! Oooops”
Thanks, yes it hurts. I will skulk away and lick my wounds. As will many others. It’s good to dream but painful when it doesn’t happen. Anyway onto the next multi bagger ehh. Ha ha
Toplocks has left the building
It's over. Shareholders will get zero. The Chinese, who are secured lenders, will get the company.
Sorry for your loss Toplocks , Lessons Learnt 🤔
This didn't age well
It was finished in 2022! They have kept the shocking truth being said but the facts on figures and reality were there in black and white but the management were only in the UK market to try last chance saloon to extract cash to fill Burts personal dreams but he was a dreamer and too obstinate to realise his dream was just not possible in large form.
It’s terrible how a NZ company can list and hide facts to keep taking money from UK investors. It won’t be properly investigated to hold BOD to account and the Chinese will ensure Burt gets payback imo.
Shocking and anyone with considerable cash in here should form a group to go after BOD to ensure they also pay the price properly for what they have knowingly done and hidden over this last period to try escape.
They have announced as of 7.57am in 2nd RNS that they ceased trading and have appointed an administrator.
Does the 2nd RNS this morning confirm without doubt that it's over?
I know an investor who has been in contact with Burt and lets just say he didn't come across has having just lost the love of his life.
Nothing temporary aboutc this. It’s finished and will either be delisted or sold very soon for peanuts. One again retail investors shafted by poor management. Lied to, market sensitive info withheld last year, and latest presentation giving a heavily skewed version of where reality lies for this company. Anyway, another lesson learned.
Temporary Suspension
Something positive on its way ?
Worth a cheeky £1000 punt at open ?
At 750k m/cap it’s just too cheap
It looks like Burt wants a lock in, a after hours RNS and a suspension request.
If this isn't suspended on Monday this may well go completely wild
some will say it is just to let some people out.
but it could be a very mad day.
In the loan subscription agreement, is there any clause which allows WHI to call in their debt earlier than the redemption date? I imagine there will be, such as if East Imperial have defaulted on an interest payment, or if there is a high liklihood the companys future ability to make repayments of interest, is highly detrimented.
The subscription agreement; should outline this.
AIMHO, DYOR,GLA.
Https://www.londonstockexchange.com/news-article/EISB/funding-update-issue-of-ps2-2m-convertible-loan/16042661
Appeared Funding Update RNS of 17 July 2023, approved at The General Meeting of 4 August 2023. Annual 10% interest payable. There's mention in link ofcourse of appointment of a Director to East Imperial's board
That's how I understand it jyee, I can't see anywhere where it says they can be redeemed earlier.
Newgrange
I made a point that I did have an investment over 10 years ago which was suspended with the threat of administration looming. It came back 13 times the suspension price a month later and ended 4 years of constant torture, and a shocking profit. This is not suspended nor in administration thankfully. Initial surprise is always there but then by going through old news with fine comb it starts to slowly make some sense. I am hoping they are using the weekend to thrash out something.
What is becoming clear is that East Imperial have an excellent product despite what a few say here and it has won industry awards but the opposite of that is finance always seems to be an issue, or logistics, or especially people leaving. Something is stalling the process and it needs attention and quick.
If I understand it, it says nothing can be done done for 12 months from the loan note date. that's June or July this year
There's still hope here although the RNS is obviously concerning. If TB can stay his hand regarding suspension then the RNS is more likely to be a ploy rather than a genuine statement of intent. It's always harder to come back from suspension, better not to suspend if possible. That's my experience anyway.
I'm still hopeful until/unless there is concrete evidence to the contrary.
GLA
I think you are getting closer to the truth CC, was there a bust up between Burt and Ngai? Ngai resigns and INL decide to pull the plug because they no longer have a representative. There was no buy order though, there was a large sell order on the day of the funding RNS because I watched Marex walk the price down so someone was aware of the redemption.
(cont'd)
There are several reasons you call in a redemption notice and one of them is a default, or is that Horace Ngai resigning has triggered this situation? He was the representation from INL and has this upset them 24 hours later? What caused his resignation and then the subsequent chain of events.
Also consider on the news of the resignation there was not much activity in the market, but then also when news of possible funding update was announced there was a run of buying. One could argue shorts closing which would tie up with the negative vibes we see on here towards EISB everyday, but then its hard to short something like this, or its buying in anticipation of further news. Afterall as I said before why was this not suspended or placed into administration immediately, since EISB confirmed they were unable to pay back their instalments to INL.
17 July 2023
Jason Ieong, CEO of WHI, said:
"Being a leading distributor of Imported Spirits & Wines in China, we are excited to extend our business relationship with East Imperial, the global purveyor of ultra-premium beverages. With our support, we believe East Imperial will be able to fast-track its global development in all strategic markets and capitalize the premiumization trend in the beverage category globally."
So, I am slightly confused without more detail how we have got to yesterday:
East Imperial plc, the global purveyor of super-premium beverages, has today received a Redemption Notice from INL Investment Limited ("INL") issued in connection with a Convertible Note Instrument dated 7 August 2023 (the 'Loan Notes') and a Deed of Share Charge dated 16 October 2023, first announced on 17 July 2023. Under the terms of the Redemption Notice, INL seeks immediate redemption of its Loan Notes totalling £2.2million, together with all interest due under the Loan Notes.
With all the openings we are getting in the USA, has this been where the larger focus has been and expenditure which has made INL think twice?
Another thing and I know others will think I am clutching at straws, but if this was over then they would have called suspension last thing yesterday, OR they would have confirmed they had breached solvency and gone into administration immediately. All that has been said is on the 11th of April 2024:
“The Company has been in discussions with a wide range of potential sources of finance, including debt funders, over the last few months to seek to provide the working capital required for the continuation and development of the business.” So were EISB aware of a brewing situation for some time.
The next day we get:
The Company is unable to meet this redemption liability and therefore the board is now in discussions with professional advisors in connection the Company's possible administration or liquidation, and with the FCA regarding the potential suspension of trading of the Company's shares on the Main Market of the London Stock Exchange.
To me last year BODs were telling us this was the only option we had, and we should vote it through and then it got voted through. This after the messy boardroom fiasco and Taylor Partners messing with selling into the market 2022-23.
So if it's all rosey in Garden and they only need £500-750k to B/E why have INL suddenly pulled the trigger, a bust up with Burt or a case of take out the prey whilst it's injured. There could be plenty of twists and turns here, we know there are still in discussions with lenders and has someone has rightly said, this could be Burt holding a gun to his own head.
What a crazy, very unfortunate 'pickle' we're in; to put it mildly!?! Suspension come Monday looks a dead cert I'd say, whilst shennighams & desperate efforts are made to solve this mess, in the hope to come up with a solution & continue trading in the future.
TB to come out fighting, two falls, a knockout or
a submission to decide the winner. Apologies, but the weather's finally nice & some levity needed to compensate the situation!
Who knows, clutching at straws maybe but could the Chinese INL & last fundraisers Galaxy etc come to a compromise, negotiation, the former be paid off partly, & go to own the Asia 'arm' of East Imperial. And maybe even some future fortunes( % ?) of the USA to compensate if ever that becomes very successful.
And the further raise by way of existing " large shsreholders"
I've listened to that interview by TB a month or so ago & his actual words are, as previous posters have suggested are " A major group of shareholders that remain very supportive, large shareholders, their preference as is ours, to further to continue to explore...." 4mins in on interview & later " great strategic partner in China there now starting making some headway with Galaxy Entertainment in Macau..." etc
Could