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On EQTEC website it is already showing Verde is holding 9.6% share capital it means deal is already done
“https://eqtec.com/investing-in-eqtec/eqtec-share-capital-information/“
“This page was last updated on the 22nd February 2024.”
We know from regulatory sources the deal wasn’t done on 22/2/24
More of vander lindens lies I’m afraid, don’t believe anything he says unless it is audited or regulated
Well the CEO of verde is apologetic for delay for further small delay now closing on 16th April. looks finally set to happen though with second tranche of £1m at over 5p a share, double todays price. i suspect once that happens Eqtec should move up to this level.
“We remain 100% committed to this strategic investment into EQTEC that has, unfortunately, taken longer to complete than we originally envisaged. Peripheral matters that required completing as part of Verde's investment Group have now, finally, closed and so allowing us to move forward towards concluding this transaction with EQTEC. We are already working within our network on collaboration opportunities to enhance the profile of the company in the USA."
Dilution Dave has not put any supporting reasons out why we should vote for more dilution, we were led to believe they were billing regularly so why another dilution needed to keep the lights on, or should I say to keep paying Smirking Palumbo and lies through his teeth vander linden?
I dont disagree as i think current billing would get us through the nadir. The RNS alluded to further investment down the road so i almost take this as a upfront favour from DP but we do not know what they will do with the funds. I am really surprised they have not updated on news for Northfork as that is in final stages and Eqtec have not released news. I did think this news would come in after Verde subscription as potentially it will look back on DP if share price spikes to 5-10p and Verde would have made a pretty sizeable profit at expense of PIs who most might be down 90% or more and this dilution just smacks of mates rates. ultimately there is value in eqtec for new investors and i have bought back in to lower my average. We will see as the board have acted in bad faith to investors over last 3 years.
palumbo and vander linden are a pair of swindlers, liars cheets and charlatans.
they bull**** time and time again, just enough to keep the fish on the hook but never in official channels.
pipeline of pipelines : bull s hit
tier one partners: bull s hit
strategic partners: bull s hit
invoicing regular monthly income: utter bull s hit
respect retail investors: utter f******* bull s hit
italy refinance: bull s hit
north fork ownership: bull s hit
competent senior management: complete f***king bull ****
appropriately paid senior management: biggest load of bull **** ever !
share consolidation to help shareprice and improve liquidity: bull s hit
basically everything that comes from that duo’s gobs: complete utter bull****.
verde are more z-list vultures that palumbo has invited to the feast just to ensure he gets more time to suck the body dry and gets his mates a little more flesh of the festering corpse they have turned this company into.
the verde deal will never happen they already smell the duo’s bull**** and even a company who leverages debt to invest doesn’t want to dirty themselves with palumbo and sidekick.
Good synopsis off AIM / Palumbo and Eqtecs tactics on how they managed to siphon over £50m from gullible shareholders that got taken in by the waffle from Palumbo &co .
C 909 you should consider going to the AGM in June if it hasnt been bought out by Altair and management by then ( why else keep diluting and thrashing the shareprice).
Vent your anger at Palumbo at the AGM even though it,ll be like water of a duck's back to him as this was his modus operandi from the start when parachuted in by Altair.
Bit like calling a burglar a thief , it's what they do on AIM.
I still expect Verde to complete, although personally i do not see them as terribly strategic as far as i can see and offering them £1.5m of shares at such a low price is depressing when revenue for first half of year has been decent to cover operations. Certainly Palumbo could be called in over insider dealing as his connection to Altair is far from arms length and Altair have been a big seller over the years, only to then buy in at the lower placing price. If Altair have sold prior to placings they took part in then suspicion would lie with DP. I do not consider that Altair have financially benefited so far as company is worth less than £4m but Altair ultimately noe holds 30% and the valuation of the company once things are shared in relation to North fork and the half dozen active projects paying money things should bounce to around £12m. Even that is nominal given the £50m still knocking around Eqtec in different shapes and sizes. Key to know is what will our stake be in NorthFork as we invested many millions into that project and all that happened was to refinance the debt and jettison deadweight. No new equity owners came in so i am assuming we should maintain 49% ownership, at the very least enough to ensure we get our investment out after it is refinanced.
Simms, from the annual report, page 88, (thanks to Neil Olofsson in the T'gram group)
"As part of the agreed terms, it was specified that the Group will remain as an equity shareholder in NFCP with the final shareholding being determined during the legal process post 31 December 2022 as 28.52%."