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Amazed this has dropped so much even below placing price
Miton Group seem to have taken a good chunk of this one - 9.54% http://www.investegate.co.uk/article.aspx?id=201605041557342698X
Apologies - that interview came out on 20.0516 -not yesterday.
Should see a nice bounce this afternoon at 2.30pm following Justin Waits Podcast on share pickers.com - if you can't wait that long here is yesterdays interview https://t.co/hhvhWi7ks8
Re-lists Tuesday, Placing at 4p, raised 1.5m and rto'ing two businesses/products. Sportsdata and Dataplay. And some impressive holders incl. MITON, Hargreave Hale and Nigel Wray. Board are taking part too. Looks very good indeed and I am expecting very good newsflow in coming days and weeks too ... pleased to see it come back!
J4u, we are on our way back, a very pleasant surprise, I would have to confess I have only just spotted the schedule 1 and will be reading in detail tonight.....GL S http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/other/12803789.html
So anyone else in here waiting for news? I am hearing things might be moving along now with possible re-list in next month.
Don't bet on it. They've been saying this for many months. Just a sop to shareholders IMO
But 2 poss RTOs and re-admission, all not lost.....
for this to get relisted in Jan time. Anyone know what is happening here?
Because between them the significant shareholders (Hargreave Hale Limited, Glyn Harris, Nigel Wray, Paul Roy, Amphitrite Limited (Richard Thompson), Silton Investments Limited) hold 51% of the shares. The company needed to add a bit more £££ to the balance. Bucket shops would have said 'no' to fund-raising for a suspended share. They therefore speak to the significant shareholders. They agree but provided it's a hard-nosed accountants-based valuation (total cash plus a bit of premium for BOD calibre plus it being a shell). That's a valuation of around £700k (cash + shell). 35m shares @ 2p = £700k MCap. hence the 2p.
That's what I'm saying - these guys took part in a placing at 8.0p Im sure - would you then raise at 2.0p???
That is a travesty. Poor, poor form.
Can't imagine he's too pleased either - he took his stake at around the 8-10p mark. Let's see whether he took place in this "mates rate" rights-issue-but-not-for-the-lumpen-proles placing.
Ouch, sorry people It's almost as if they've given up on the original plan and have started again. 2p is about right is this was a blank AIM shell (i.e. a slight premium to the net cash position for a shell). The value of Sportsdata and any premium for wunderkind Yeoman has gone out of the window.
What's another 19m shares for a good cause :)
just realised how much dilution this is.. There were 16m shares pre dilution now another 19 mil so like 125% dilution at a 75% discount scandalous. feel for the guys who stayed in. They better have a damned good deal for them
Well... nobody expected this I guess Always darkest before the dawn...
But did they not all buy at 8.0p mark - there must be something behind this. There must be - its imply doesnt make sense?!?
He's bound to put a positive spin on it as he is mates with Marcus Yeomans and he was tipping it at 9p. The bottom line is that PIs have been diluted massively here but I guess at least they now have money to continue..... paying Marcus's wages!
Apparently, Directors didnt take part. TW is also going to run an article tomorrow. He has an inside track too. I've a feeling there is a positive spin to all this (or hoping at least!!!)
Yeah, was excited when I saw the news light up - what a crap deal :(
How is that allowed - does it look like they (Directors) have gone in, in which ase is that even allowed??? Anyone know?
pi's look closely at the TEA app,, might go a way towards this kind of pi55 taking..
For not much cash too. Agree disgrace