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I've received two corporate action messages from AJ Bell.
My account has been credited with 1 basic entitlement share for each share held on the ex-entitlement date (14 May), and excess entitlement shares as part of the open offer.
These are the options:
1. Choose to take no action or not respond, unable to confirm if lapsed proceeds are payable.
2. Choose to exercise basic / excess entitlement shares, expected to be credited on/around 3 June.
Would the obvious response to this be exercising basic entitlement shares rather than leaving them lapse as a way to average down, or am I misunderstanding this?
Depends how many shares say for instance it says 100.000 you need to have money at 1.5 to cover buying them at that price but who knows what will happen after offer with no news may drop further and the BOD are happy because still getting paid wages on your hard earned cash ur decision in the end
It may be even cheaper after the placing as there may be no buyers at that price. I think 1p is now not out of the question
In my view if the BOD were serious and things were going to be different this time round, then the placing (at less of a discount) should have been accompanied with clear cost-cutting and even job losses to address the 400K/month burn rate. The fact they don't appear to even acknowledge this issue speaks volumes to be about their business acumen. How can the burn rate remain at the same levels as development and trial levels? We should now be concentrating on sales of the two products and everything else put on hold - that should not be costing 400K a month.
Muminr my current thoughts are aligned to yours, I need to believe the directors have the hunger to make it work rather than it to be a lifestyle business. If I was at the helm and saw riches on the horizon I would have a firm and transparent plan how to best succeed in the journey. I want to believe in this company as it could make a difference to people's lives but feel torn throwing anymore cash in when I had mentally written of my investment here.
I've applied for the open offer Smallstake, but even then my new average would around 25p. For me I think it's a matter of reducing my losses as much as possible without exposing myself much further.
I take the point that JimiHendrix and others make. However, that list of possible good news to come is not new. We've been waiting on many of them for some time despite apparent promises by the CEO of delivery much earlier. In any case, all that information is known to the market and despite that the share price is where it is.
Good points I’m in the same boat, I think there are many in it. We need some concrete news and a strong leader
I have also applied for the open offer; my new average would be around 8.39. I WILL be out forever once it reaches 9p.
Well for what it's worth I have applied for the OO in my ISA, my current ave there is 32p so I have applied for a few extra on top which would bring my ave down to a shade under 9p if my request is filled. I have a tiny amount held outside an isa where my current thought is to let my rights laps but there is still time to change my mind. Yes there is lots of news on the horizon but I have seen false dawns to get too excited yet I do remain hopeful.
I'm in for the REX Offer and the Open Offer with my various brokers as 1.5p is looking like a very good buy in price for both short / medium term gains via REX and averaging down via OO. I can see this achieving 15p this year, at least.
No chance.
It’ll take time for the products to get commercialised!
"I can see this achieving 15p this year, at least."
What sales figures does your modelling suggest are required to hit 15p? How will these be achieved and what market share does that represent? What are the key routes to market and how will they overcome the obvious issues. How will the required ramp up in production and distribution be paid for if and when these routes to market are secured?
""I can see this achieving 15p this year, at least.""
"What sales figures does your modelling suggest are required to hit 15p?"
Dunno
" How will these be achieved and what market share does that represent? "
Achieved by something happening. representing the relevent market share.
"What are the key routes to market"
lots of roads can be taken, depends where the buyer lives.
" and how will they overcome the obvious issues."
There are no obvious issues.
"How will the required ramp up in production and distribution be paid for if and when these routes to market are secured?"
Dunno but they'll figure something out.
DYOR. GLA.
That was actually quite funny Gloria!
For a girl 😘
Basil - what have you been drinking this morning?
'I can see this achieving 15p this year, at least.'
With 555m shares in issue post placing - if successful - a share price of 15p will equate to mcap of roughly just over £80m. Are you sure you meant 15p??? Current mcap is £2.85m with just 154m shares in issue. Just interested to hear how you think this might come about.