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Cheers wyn, there've certainly been better weeks!
I can think of half a dozen sure-fire stocks that have come unstuck in the last few months. As soon as people say things are "nailed on" or announce which car they'll buy, we should SELL. Seriously, as a strategy, that would have worked on AVCT and HE1, TILS, ADV...
Anyway, there is still life in them all so let's see where the story ends.
Enjoy your weekend :)
Taking eve private has been mentioned a few times lately. I may be wrong but I thought you needed a special resolution (75%) to delist. I think eve has quite a large number of individual investors which would not necessarily back this. Personally I'm more concerned that we get to a point where eve need to raise additional cash in the next 2-3 years and we get diluted further (but hopefully this won't happen...).
Been a bit of strange week for me in terms of results. Eve's results were obviously a bit dissapointing but not really too different to what we expected (I don't think earlier trading updates had implied that it would be profitable). As a result I was more dissapointed (but not surprised) with how the share price moved.
Also had results for Everyman Media yesterday (sorry to bring up a different company). Expectations in November were for a full year EBITDA of ~£7m and final results showed £8.3m. The share price has barely moved!
I just don't understand!
CFAN, – I found this (and like this line: 'In all cases, the normal value of your company’s share capital must be below the minimum for a PLC – currently, this is £50,000'):
https://www.rapidformations.co.uk/blog/how-to-change-a-public-limited-company-plc-to-a-private-limited-company/
'Last updated: 6 Apr 2021
Section 97 through 101 of the Companies Act 2006 allows for companies to change their legal status from a UK public limited company (PLC) to a private limited company (LTD) in one of three ways:
Passing a special resolution of the shareholders
Obtaining a court order to reduce the capital of your company
Or following a cancellation or re-denomination of shares resulting in a reduction of issued share capital below the minimum for a PLC.
These processes are collectively known as ‘re-registration’. In all cases, the normal value of your company’s share capital must be below the minimum for a PLC – currently, this is £50,000, or the equivalent in Euros.'
Personally, I do discount (more or less) them taking part in a raise / dilution till they are doing a lot better than they are currently doing, so doing it from a position of greater strength. A placing would fail at the moment (imo) and they just need to make the best of the cash they have, which they do seem to be managing.