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Agreed on all points. If the company is going to go bust a loan note holder would have a claim on the company over the equity holders so converting would suggest they expect the SP to rise. The note could easily be sold so there is no need to sell for liquidity. My understanding on the first conversion is that the big seller was someone who bought the converted shares at a discount to the price at the time (at a premium it the then SP) and thought they could make a turn but didn't realise how lightly traded they would be and moved the SP down considerably.
You have made a typo in that the recent Loan notes(CLN's) were converted @ 0.1p. This is a bit strange to me why they would convert at less than the current sp. The conversion price of these CLN's has been vearied once or twice over the years for various reasons but according to the RNS of 16/12/2011 a lot were issued within 8% coupon. I don't believe these CLN's are going to expire soon so it seems strange that they have converted now. Perhaps a) they are confident the sp will top 0.1p again shortly; or b) they are mindful the company might go bust soon and they will get nothing. I fancy the former and these conversions take a week or so, so perhaps they want their shares ready to sell if we go over 0.1p. Anyway, just trying to get my head around converting at a price above the sp and foregoing the interest.
Totally agree, Im in at 0.083 with a small punt and will wait and see what happens.
Well,I'm in at,.8 as a punt and hoping for the arrival of that,300k,and then the rainbow chasers,lol,a modicum of research would tell people that this company is a complete disaster but fortunately this is aim,where the cr@@pier the fundermentals the greater the hype,aim is a paradox and the companies and investors within it,operate in what seems to be a parallel universe!
The company publishes RNS announcements to inform people who are willing to do a modicum of research. Convertible loan notes were issued in 2014 with some as an overhang pre the current BoD. A number of these have been converted in 2015 at 0.01p The $300k payment has been delayed as mentioned in a previous RNS.
Lol,yes to true along with,99.999999% of all aim companies buts let's start in alphabetical order!
so what happened to the $300.000 payment due in December and why do they keep issuing convertable loan notes to raise so called funds, something dodgy going on here, this needs investigating and reporting.
I think you're spot on, I am pleasantly surprised how well the SP held up today given the volume of selling. I am @jeffmiller790
Always hard to get what people are really like when just typing... Are u on twitter ?
No worries mate,unbelievable but true people on here and other sites find me intimidating and I'm not liked at all but in real life for some reason I have a lot of friends!would you believe it?
here ?
Sorry wasn't meant to sound defensive, was asking what your concerns are, but have just read on the bb.. I don't know stubbsy etc personally no, only the same way I know people on these bb's to share ideas etc with.. Sorry for O/T everyone..
That's a little defensive,so you don't know, stubbsy and co?
mate ? And what you not understand is going on ? Its consolidating nicely there..
Correct,just wondered about your lack of posting there! I'm out at the minute,don't understand quite what's going on,do you! I no your friendly with the guys on Twitter!
how many more CLNs to go??
That is a long term winner for sure, and still hoping to add some more, but only hold them in my sipp, as leaving to ride for the next couple of years hopefully ! I am not planning on being in here as long, and its mostly a cash holding..
Which one ??
Just a punt for me at .8 but I am a little bemused,sfu,after a great result in another share we, where in that you failed to ever post! Surely the fundermentals there were far greater than here. I just don't get it
I agree the new bod appointments are very positive, and Ivan is included in that, its the reason why I have got involved.... The loan notes are a short term pain, and we may now see a little dip from here when they hit the market, unless news comes, but personally I think its better to have the notes out the way before news.. Also the techs are oversold still, so who knows.. Always going to be volatile until the news hits.. Whats your twitter ID ?
Hi SFU, I don't think much has changed since the loan note conversion, other than the NED appointment that I view as being positive, if anything it has brought the price down to more attractive levels and provided a bit of liquidity that was needed with the stock where only 10% was held in public hands. The flows in the last couple of days gave me the confidence that if I went in I would be able to get back out, if necessary, without causing the price to plummet (as with the loan notes). I tried to add you on twitter the other day, would be interested to hear your views. MT
But most are at 0.025 ?? So more flooding of the market, but good to clear them before news..
£120,000 loan converted @ 0.1p (above current price :)
More loan notes conversion :)
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