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Do you know a shell company only has 6 months to reverse takeover?
This is just going to be a shell company with all current assets stripped? Correct me if I’m wrong
Maybe drop him an email and share concerns, ask fair questions etc..? I agree, we need to know far more about the proposed deal(s) via RNS before the 31st.
angus.forrest@imaginatik.com
He’s pretty good at replying in my experience but obviously can’t say a lot outside official channels.
I think you'll make a bit of money here Julian with your buy price. As for me...not so sure
Julian we need a RNS soon I think.
Scully have you sold me a dud here?
Exactly. Plus I expected a RNS talking about a reverse takeover by now but it never came.
If Angus wants this to go one way or the other he should make his intentions clear BEFORE the vote, not leave everyone guessing.
I liked the business model here and all the big names IMTK was serving. It really felt like something that could be grown purposefully and profitably given a little more time. Then I just got a bad vibe about this this day before the RNS announcing the sale of the business. The last few times the price has risen dramatically Angus has dropped a stinker the following morning every time without fail. I suspect the placings after each raise were just to clobber the price below the price they've no doubt been tossing around for months now and to make the deal appear better than it actually is.
Angus needs to be clear. He stated in the RNS that he feels the business and assets should be jettisoned because further funds would be required in the future. If that is the case, is he therefore suggesting that he doesn't intend to raise funds from here on once the business has been sold. Raising funds for some vague purpose at under a penny will be far more painful to shareholders than raising funds for something we can all agree seemed like a good business.
If the purchaser can make something of this business, then why can't Angus. I'm sure more money could have been saved here and there in like with the companies current cash position and income.
I stand by what I said before. It feels to me IMHO like a company which was looking much better is being poached away from shareholders by both the board and employees of this company and those of the purchasing company. Far to little has been said about this deal and something doesn't feel right about it.
For a company of this size and scale, does it really need two NE Directors? IMO, the company is just a little top heavy still and there's too much room for a conflict of interest here. Something decent could be made of this company with a little more effort from here on, but unfortunately I feel that this company is not profitable enough for the BOD and the employees rather than the shareholders as the RNS suggested. It appears almost everyone here is leaving for the Planbox payroll and they fully intend to make this business work elsewhere, only we're not invited.
I have nearly as many shares as Angus and if we don't have a significantly transformational RNS which takes the share price above 2p before it's time to vote then I'm voting a big fking NO to the sale.
I’m right in saying if they’d just sold the company, we’d have a premium for the shares and end of story? That would be in the interest of share holders?
I suppose, assuming good faith, if AF thought it worth while to bootstrap something then we might as well hear it from the next RNS now. Since we are where we are.
(Still shocked at my mistake. Would be funny if I wasn’t so mortified I’d given incorrect information!)
F$*@ me, I’ve got this completely wrong! You’re right of course, what a stupid mistake! Explains my bemusement. :-)
It’s actually even worse than I imagined then. I invested into a turn around plan and got a cash shell with some vague “we’ll buy a money tree” plan. :-/ Jesus, I should concentrate on these punts. Thanks for pointing out!
I think I've decided with this one that I'm holding until the end of the month not the 6 months I was originally intending, and then cutting my losses...I'm not impressed. If there's a favourable RNS in the meantime I'll consider holding into February.
Obviously if I sell this will shoot up as is what usually happens with shares lol.
Well that's annoying and worrying. If Angus leaves that would be bad news. Maybe I'm naive but one of he reasons I'm in these shares is him.
I’m unhappy with the vagueness of it all too and cautious if hopeful. But that’s blind faith I guess.
Scully - very recently. He advised me (as per RNS) that directors are looking at making the most for shareholders and all are voting in favour (no surprise). Whether he carries on with the ‘new’ Company as Director depends on “the next step for the Company”.....
Bradley from your posts last Thursday you seem to think we still have the assets, staff, customers etc? We don't - they go to the company doing the buy. Which we as shareholders own no part of.
I don't like how we don't have a RNS by now with a plan either.
Being absorbed and cross selling between the groups customers would have been enough wouldn’t it? Especially on top of the cost cutting measures, SP would have gone up surely.
This buying a business(es) ambition... how about run one in profit first? It’s just confused the market. If there’s a deal in mind to land grab customers or IP or other, wouldn’t you lay that strategy out? Particularly the size and financing of it?
I’m really disliking how opaque AIM is.
Africanskies - when did you talk to him?
@alwayswinning I asked AF and he said his staying on depends on how the sale goes. Interpret that?
I don't know and a punt yes but expected a little bit more excitement on this after you talked it up and only invested a certain % but now at 1p....come on surely some positives due?
Scully, yes, an awful lot of money appears to have been lost by a great many in FLYB, poor buggers. I am just absolutely astounded by the Boards complete disregard in their RNS's of the Shareholders. I did keep saying that STO had not declared they were bidding - it turns out they were - but in a partnership with Virgin as lead I guess? - however it's naughty that "said partnership" didn't reveal they were this in an RNS, especially as STO wanted a takeover previously, so this was surely a huge conflict of interest? I think a lot of people held on to the fact that "many" or at least 2 players were going to battle it out, so they bought shares...lots of shares. Everyone appears to have got outsmarted. With my fourteen or fifteen hundred loss, I am not going to join the groups, I'll just move along. However, I fully understand why people will pursue. I have dabbled for about 6 years on the Stock Market, and lost out a fair bit with some right "dead-certs" (AFREN, KILLRILLION as we called them in the trade), and now Flybe. I still go back to my view of FTSE firms, and the occasional flutter down in the pits. FARN is still my bugbear, lots of Family and Friends notifications back along, which dead-cert'ed great results, and then we drop from a quid to 50's. I am in at 1.24 I think, but only have 1.5k invested here I think from memory.
Julian - it's sad that some are still hanging on in flybe and hoping for a higher exit.
Other on the farn bb some say the Japan results will be good so hopefully that isnt down for much longer. My average there is 65p but I might topup over there. It's one I'm quite sure should come good
Investinvalue - I don't think it's going to disappear as you do and don't think it's a strong sell as you do at this price?? Doesn't it give you confidence that Angus has shares at 5p (3million) and the recent RNS where almoat 23% shareholder has taken shares instead of loan repayment?? Obviously this is a highly speculatitive punt as they might not find an acquisition or acquisitions but this is why we're on AIM isn't it?
Bought some here for a speculative buy....what a waste of money. Talk of TERN etc and this is going places.? Yes its going t disappear! DOG OF A SHARE!
Scully...where is your prediction now?
Angus will have come across many potential suitors in his time - the part of your argument that doesnt sit easy with me is that you can't buy much of a company with a million - you can buy several profitable companies for £200k each and have 5 companies unde the group. Not sure what your experience is but I've seen it happen lots. Obviously will probably need a fundraise with tge right reverse takeover - so definitely expect more dillution.