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A few on here have been asking how they can take part in the placing. If you are with HL you should get an email similar to the example i attach below from BOIL. It will give full details of the offer price and deadline for applications etc.
What is happening?
Baron Oil (BOIL) have announced their intention to raise £5m via a placing for institutional investors and a Retail Offer for individual investors.
Baron Oil have decided not to issue a prospectus as part of the fundraising. This means that the Offer has been limited to the sterling equivalent of €8 million and will only be open for a very short period. It also means that information relating to the fundraising is limited to the Company announcement.
Applications are due to close at 5pm on 15 November 2022.
The Offer price will be 0.12 pence per share.
AND FINALLY
The man or woman who hasn't seen an investment go wrong or made a bad call has never lived, in my humble opinion. Even the great Warren Buffet makes mistakes and admits to them, although their appears to be a few Nostradamus type characters on here who are exceptional investors, never make mistakes, and who can predict the future - yea right - strange that isn't it? Most of them aren't shareholders by the way!
I admit that i've got this one wrong and i'm averaging down further in the hope of better days ahead - theirs no shame in that - we'll all live to fight another day - its called life!
GLA.
Stephen11.
Dont worry sp will go under 1.5p for awhile..
Of course it will
The open offer will increase demand imo as people will need to hold shares in order to take part. Then once the shares have been issued in June it will be a matter of weeks until the July NICE news and not many will be selling in the lead up to that, quite the opposite.
The news from Nice will just be a traders spike. Only sustained sales will tell and effectively you ll be going 6 months with no real news
The need for the cash raise has pushed this down from 8p. It meant that the huge NICE news had no impact on the medium term share price. Needs to rerate now. The opportunity for sub 2p has passed IMO
NICE full recommendation in July, UKCA marking and the devote study all coinciding around the same time should result in sales beginning straight away. The NHS will clearly need to follow NICE’s recommendation and order the test.
The NHS has no legal obligation to follow NICE recommendations and any NICE approval will have no bearing on the share price until massive sales start coming through. This company is heavily in debt and needs a contract like a premier league footballer to even hit 10p again.
It’s an obligation to use the most cost effective approved solution
NICE Technology Appraisals are statutory guidance for which NHS healthcare services must make funding available and implement within three months of their date of issue. All other guidance, guidelines and quality standards are non-binding advice intended to assist the NHS in exercising its statutory duties. So is GDR statuary guidance? I think not.
I spoke with HL and they said their corporate actions team will be reaching out soon to all customers , and also he said they have not had the full details from GDR yet .
Bankruptstock, it’ll depend on whether you’ve maxed your allowance. If you have, like me, you won’t be able to add new cash to buy. I’m hoping I’ll be able to sell half my shares and use that freed cash to buy back at 1.5p
BankruptStock. Whilst I agree that it will take sales to turn this into a sustainable business, it is just wrong to say that NICE approval will not impact the SP, nor that this company are heavily in debt!
The NHS could face legal action if they don't follow the guidance.
Implications of avoiding the guidance...
Whilst the word ‘guidelines’ may conjure the impression of discretionary and optional advice, this is far from the case. Following the landmark case of Montgomery -v- Lanarkshire (2015) the way that practitioners dealt with consenting patients for operations significantly altered. Legal principles established through case law are binding and they cannot be ignored. The case law on NICE guidelines is likely to have the same effect. When making a decision about how to treat a patient, ignoring and failing to adhere to the NICE guidelines is likely to lead to legal consequences.
@JAMESY1980
Quote "nor that this company are heavily in debt!"
I don't believe this company has any 'significant' debts just a voracious appetite for cash which results in an annual operating loss.
I'm happy to be corrected if wrong...
Looks like we,re going to hover around this price until we get the RNS states that offer has been fully subscribed too...then up up and away gor thr shate price..!!!...I,m expecting an RNS stating exactly that by the end of the week..!!
I have been In and out of GDR for years. Got stung once but been lucky twice now. Looking to buy back in at some point. Not sure how you think price will rise from here though as surely it will at least fall to the 1.5p raise price. Like I said I want to buy but I still think it’s going to drop. Maybe I’m wrong.
I only have 300k shares here I would for sure take a punt on £10k worth at around 1.5p.
We will see.
One thing I have learnt is this company 100% can not be trusted and to sell when in profit as the next dip is always round the corner.
Personally I think it'll move up simply because there are not currently many shares in issue and there's positive appetite for the open offer shares, which to qualify for of course requires buying/holding shares over the coming weeks. Usually I'd expect the shareprice to stay around the placing price but not in these circumstances, the only reason for it to drop to there again imo would be if the fundraise was unsuccessful and that is very unlikely because it will result in the company being forced into desperate measures (delisting or huge dilution) which won't be good for anyone. So imo anybody wanting to have shares at 1.5p is going to have to take part in the fundraise in order to make any money, which should push the shareprice up and I can't imagine anybody selling in June with the NICE news a few weeks away.
Hopefully we'll have a really good run. News on new go live sites for AIHL can't be far away either, rollout to NICU sites in Kent, Surrey and Sussex is coming.
I did well selling last week before placing and will be looking to buy back in around 1.50
Hmmmmmmmmmmmmm
It briefly dropped to 1.5p last week, I can't see it dropping there again as it would probably lead to the company not being able to raise the minimum amount required (as the open offer would no longer look like good value), which would be a disaster, probably resulting in no investment case so I can't see any logic in hoping for that scenario.
Janet kiss good bye to 1.50 p that is never going to happen .. otherwise the raise will go sideways ..
if one can get in at 2 p you will be lucky .. busy coming in now in their truck loud ...
In the markets you never know big swings up and down is what happens...GL
Agreed Dogg.
Glad to have you aboard, assuming you are now. I believe you are in SCE too. As am I.
GDR is a steal at this price, with a market cap less than cash in the bank (with no debt) IF the raise gets off.
I’m betting it WILL get off as we can see from the massive interest among all the LTH’s posting on here, and then we will rise in anticipation of the transformative news from NICE in July.
This company moves very fast when it moves. I can easily see a three or four bagger from here on Full Approval. Then there’s the FDA submission…
Yes got in now. Initially thought it might drop back but there was so much buying pressure awaiting funding that I think this can now rise unimpeded. The raising has been handled terribly, if I was a holder I would have been very annoyed but as I wasn’t it is a great opportunity.SCE will also be moving up in a big way now funding is sorted.