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Well it seems to have been a determined effort this week to push it back down to 70p again and they appear to be succeeding.
daveri the delay may well be out of LBE’s control but that also means that the deal(s) as a whole are out of their control as well. Nothing is done until it’s all signed up. There must come a time when they need to move on - let’s hope at least that they’ve got more than one iron in the fire because the last thing we need is something falling through after months of delays (as maybe happened in June/July last year).
For me, I think they have to come back with new equity raised at at least 150p for me to be happy with this and that's only because I've been able to average down into the high 70s.
Still no reply to my query so far! I think this either must mean a deal is very close or that they are grossly incompetent and I know from my past dealings with them and their track record that the latter is unlikely.
With this wait (out of LBE's control) we expect nothing less than a 3 bagger over a 12 months period from first deal(s)....of course, wether we get that only time will tell.
Still v.hopeful with my significant holding here. Best wishes
Nor, I.
There's something that's not adding up here, because someone is getting a lot of liquidity on bid when no one else can, so either a MM is doing someone a favour, or it's not actually going to a MM and there's already a buyer lined up - so it's in effect a transfer.
Personally, I think it's the latter, but I base that only on gut instinct and nothing more.
Are we supposed to believe that despite barely being willing to offer a sell quote this week, the MMs have taken on a net 23k shares over the past 3 days, including 10k in one chunk this afternoon?
Seems unlikely unless they had a buyer lined up for them, but there have been very few buyers on the open market.
Oh well, another day of waiting comes to an end! Let us know if Ms Veiberg comes back to you Mozza. Cheers.
The MMs seem to have accepted a few sells after dropping the bid but I haven’t been able to get a sell quote at all.
Well, again, it's the problem with their communication (or lack there of) style - if they're doing loads and using the opportunities as they currently see them to in fact do multiple deals at once (HH said they might have to do one or two deals to get to the ultimate goal in his interview with LSE think), then I think a PA is an acceptable expense.
If he's twiddling his thumbs just waiting for deal flows then it probably isn't.
Does Helge Hammer really require a PA/Office Assistant at the moment? Other than making the tea I don’t think there is much to do!
Might be one of the MMs is mates with one of the Blackrock managers and got then to provide a bit of liquidity.
Certainly, market makers do that between eachother from time to time.
I have emailed Line Cecilie Veiberg, who is Hedvig's temporary replacement while she is in maternity leave, so hopefully she might be able to comment on a FY results date.
The BlackRock declaration did seem to be a turning point, coincidence or not.
Blackrock's little intervention seems to have had the desired result of damping everything down. Worked perfectly.
I still haven't a reply - which is strange because it would be very easy to find out roughly at least when they intend to release their final results!
I think I was more tolerant of their "less is more" strategy earlier on when HH said they hoped to achieve something in the first half of 2020 and that they had had many meetings with some deals were more advanced than others (his words not mine from the LSE interview).
The problem is that is the opportunity cost of holding here has been very substantial with the current markets having been on fire and if they don't come out with a very solid deal priced very attractively from the perspective of those in pre-deal then it adds a lot of salt to that wound.
Now looking at the founders shares and incentive plan I do think that's quite likely to be how it works, but right now being limboland is becoming rather unbearable.
Busy day! What a difference a few days makes!
Agree with you to an extent Mozza. These guys are ultra professional though and abide completely by the rules. In many ways I much prefer that to the many AIM CEOs who mouth off privately to investors and end up delivering nothing. The trouble is without any updates we don’t know whether they are on the cusp of a deal which is due to land imminently, or if everything has fallen through & they’re starting again now from scratch.
I guess that’s why the share price is where it is and interest levels are low. I completely understand those who have waited long enough and feel it’s time to move on and there are certainly times when I feel the same way. I just hope that this wait is worth it when they finally get something over the line (assuming they do!). I take some comfort in the words that they have used in investor correspondence “confident in the strategy & opportunities & the interims presentation remains valid” - although we’d probably expect them to say that, it’s hard to believe they haven’t made significant progress on something over the past 15 months!
I still haven't had a response yet, which really is odd, as he has had plenty of time and as I said has previously responded very quickly.
If anyone else fancies emailing them and asking the same question it might give them a nudge that we are actually expecting some results, or preferably even an RTO!
In my more irritated moments I really do think that the BOD could do more to keep us informed here - I understand there's a limit to what they can say with deals under negotiation, etc, but sometimes it really does feel that they're going out of their way to avoid saying anything, which is worse in a way, because it makes it seem like they're making little to no progress.
Thanks. I’ve contacted them via the website twice. The first time (last summer) Julian replied quite swiftly, and the second time (more recently) I got a reply from HH’s PA Hedvig, which took a bit longer.
Funnily enough, despite being months apart both replied said pretty much the same thing so I’m guessing they were stock responses to investor enquiries.
Interesting that you haven’t had any reply at all - hopefully they are too busy at the moment to respond! Thanks again for keeping us updated.
4th November last year was the last time and he was back to me in sub 10 hours, and the time before that in sub 5 hours (27th August).
I know others who have been in contact throughout the year and he has always responded in under a day, so I don't know what's going on, as I was only asking if he could advise for the date for FY results.
I'll let you know if I get a response.
Thanks Mozza. When did you last contact him out of interest? Please keep us updated if you do get a reply. Better than us all bombarding them when they are (hopefully!) busy.
I emailed Julian Riddick on Friday morning about a date for the results announcement along with the idea that some have been stating that the firm might be delaying them to coincide with an RTO.
Strangely he hasn't got back to me yet (not that I'd read anything into that), but he usually gets back to me within a couple of hours, so that's a bit odd.