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If you have known this company a long time and think "this is it" you need your head checked
The last time there was an open offer was the covid detector placing.The share price help firm at 17-18p for a while and the open offer was15p so suckered quite a few of us in. Not sure why anyone would take part right now.
Of most concern is that '50-60% is to facilitate the restructuring of the group's debt'
I was of the impression that debt restructuring was something usually undertaken as an alternative to outright liquidation.
As unpalatable as this deeply discounted placing is, there is little alternative other than to vote it through for fear of something far worse.
Truthfactoy -You can buy below the 5p placing open offer today on the open market.
I had to sell at a loss on this a while ago.
But then i found a better companies and started to recoup. Wishing you the best.
The CEO is milking the IC coverage to pump and raise. I am surprised ST still writes up on them because another company did this once qnd he took a dim view
Just phoned investor relations 01740626060 and got through to Natalie, as soon as I asked for the emails of all board members the line went dead all of a sudden.
Tried to ring this line again a few times and it goes through to a mailbox, which of course is full and doesn't allow you to leave a message.
Does anyone have the email address format used by Kromek ?
I've sold all my holdings at a massive loss. £5K loss.
I cannot believe how this company treats it's shareholders. They have no shame wiping out small shareholders and giving stock away for a pittance to institutional Investors. It smells really bad, like a backroom deal. In any case, as mentioned before, they will be back to dilute again in 18 months time. Basu is a total idiot and a scientist, he loves being in the lab and playing about with new toys like the COVID detector, which he couldn't even sell one even though we have had a global pandemic. He is totally happy just applying for grants and raising money. I guess he is too used to academia. He seems to have a complete contempt for shareholders.
Anyway, I'm out. I'm sick of following this company. I don't care if the share price rockets afterwards. I'm just sick of Basu
Another miscalculation by management. Why waste money on an open offer when it's obvious such a placing would precipitate a collapse in the share price and that hardly anybody would take it up.
Basu can afford to fritter away £5k on near worthless paper. Even with KMK's prodigious cash burn this should keep the lights on for a further 18 months by which time he may be ready to retire.
Laughably optimistic tipsters and brokers need to revise their price target by moving the decimal point one place to the left. 2.6p seems far more in keeping with this outfit.
Based on previous history I think 1.
I have submitted a market abuse from to the FCA this afternoon, clearly someone knew this was coming and traded accordingly.
I have used the form on the investor relations site to ask for the email addresses of all board members.
If it were true that current cash levels were sufficient to see them 'trade successfully through FY24' and that they were expecting a raft of material contract wins in the near future, then why not wait for the SP to recover before the placing.
I am forced to conclude that either:
1. Management are inept and collectively have zero financial acumen between them.
2. The possibility of a liquidity crisis in the medium term could not be ruled out.
3. One third of the company was given away for a song to a bunch of cronies.
I would be interested to hear from fellow aggrieved shareholders for their opinion on this.
I hope that Basu doesn't have the effrontery to further insult us next week with a video clip saying that the company has reached an inflexion point and is on the cusp of greatness.
What you have to remember with kmk is they continue to produce stock, yet write it off year after year. They continue to produce debtors and then write them off year after year.
Why don't customers pay and adhere to their contract, probably because kmk haven't performed to the contract.
All the total and complete b****cks comparing kmk to redlen and pricing it as such.
I think you are missing the long term game. This stock never recovers it just operates a whole series of dead cat bounces fueled by constant fund raises.it’s not an investment, it’s Roulette table
To raise £8m when the mcap is £22m, and when forecasting cash profits this year, surely a more confident board would have waited for the share price to recover a bit. The desperation to raise cash now is worrying.
It’s a bit like backing a horse in the grand National that you just know is going to unseat it’s rider at every other fence. Good luck all.
The timing of the announcement of this latest bombshell placing is one of the most cynical just a couple of hours before the market closed for the King’s Coronation. There again perhaps it was astute timing to give the market time to reflect in a less emotional way. Is this company actually a going concern, having tapped the market countless times over the years and at several multiples of its current MC? The cv of members of the board reads like an absolute dream . Once the dust has settled and assuming the votes are in favour of the placing as an investor there may well be an opportunity to pick up stock well below the placing price. I can’t see the company collecting much from the 1 million extra offering. In the cold light of day there could actually b money to be made here for the pi. In z as company that has little or no credability
RNS 7.2.19
£20m at 25p
'The Company anticipates significant growth opportunities for its flagship medical imaging products and D3S in the nuclear detection division. This has been evidenced by the new medical imaging contract announced on 28 January 2019. The contract is with an existing OEM customer and is expected to be worth a minimum of $58 million over a seven-year period. The Directors believe that the medical imaging and nuclear detection markets are each worth in excess of $100 million per annum.'
RNS 12.2.21
£13m at 15p
'While the Directors believe that current cash levels could see the business trade successfully into FY22, they consider that there is limited capacity to exploit new opportunities and that the proceeds from the Transaction will help the business scale up and accelerate new commercial opportunities across all markets, as outlined below, as well as providing strength to the balance sheet.'
RNS 5.5.23
£8m at 5p
'While the Directors believe that current cash levels, supported by cash flow forecasts, could see the business trade successfully through FY24, they consider that there is limited capacity to capture short-term growth opportunities and that the proceeds from the Transaction will help the business accelerate revenue growth and win market share, as outlined below. The proceeds of the Transaction would also strengthen the balance sheet to facilitate the Group's restructuring of its bank debt.'
KMK are clearly having a drink in the last chance saloon. Do consider this before taking up the open offer as it could easily end in tears.
Strategicinvestor. Suck my plums!
Think only sensible option is either to vote in favour and hope this is the final watering of all the green shoots or
to sell and move on…..a dilemma…..
Unbelievable mismanagement……..
I will call Tuesday to demand the emails of every board member. I will provide these and post my email.
No idea how we reach enough shareholders or how we make them listen but I am in. I have around 150,000 shares.
Looking forward to the ST write up.
Mike. Unfortunately a long list in a line of shareholders, including myself at a higher price than mike, who have bought in.
Firstly we clearly have insiders (not necessarily kmk) dealing. This needs urgent investigation.
Shareholders need to revolt against Basu, the chair and all the buffoons on the board. Whose with me ?
By any yardstick, this is a massive dilution at a jaw dropping discount. The inability to raise any further debt finance suggests the company has reached a point of desperation. Not to forget the loan notes raised in Aug 22 [£2.74m] need to be repaid early next year.
I am sure that whoever is providing the capital will be extremely keen to dump the shares on the market at anything over 5p to make a quick return [perhaps after the next tipster spouts more hyperbole]
The slow drip of tuppenny ha'penny contracts just doesn't cut the mustard. With such dire margins each is barely enough to fund the staff Xmas knees up.
If Basu doesn't deliver this time it must surely be curtains.
Lamentable.
Full order book,8mill raised,same price as new investors.whats not to like here.thankyou MMS.onwards and upwards.if lower on Tues i.ll buy some more