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This now has all the hallmarks of a series of distressed exits from market sectors, in a desperate attempt to reduce debt. If the disposal price is low the retained debt position after disposals will be now backed off against a significantly smaller business and potential profit. I repeat at 5p worth a punt for 50% upside in the run up to the end of July - which whiist is not far away, is far away enough to see it sink another 15% - 20% on general concerns. Those who tipped a chunk of capital in at 15p must be thinking 'why did I bother....!'
I was lucky to get out of here with a modest loss before the share price plunge.
I will wait to see what the remainder of the ce division fire sale raises before crunching the numbers again.
If they can make a substantial hit to the current debt with the sale of the low margin businneses the current share price would be a "lovely opportunity" union p.
Anyone any thoughts on what the remaining ce businesses could realistically raise.
D.
Like I said short lived......5.5p by Wednesday next week, no news, no CEO and it will continue to drift - 5.5p lovely opportunity.....good weekend all!
over 2m traded today and holding well. big upside next week.
Oi unionpacific: have you read 'Waiting for Godot'?
I think you've missed the low mate.
All recent trades are autos meaning the bots are on this driving it up.
Get in whilst you can
This uptick will be short lived - see you at 5.5p.....see the Don and Low news re: textiles market - no place for a UK based source.....this will hurt a lot of folk this share. I will be buying at absolute rock bottom......
:)
Nice bit of volume - looks good.
How's that 5.5p at 10am coming on?
I think we will see the start of an upwards trend soon. Don't miss the train.
12% spread. Presumably something in the background.
Something brewing?
Who knows but it doesn't really matter - someone took on >£50k at 6p, period.
I don't think so
Big sell at the 6.0p mark after trading, this will be 5.5p by 10.00am tomorrow. I will be in at that chaos snapping up the shares......
Must represent a fair risk at this price - I’m in.
This is a sitter...........15p RI a few months ago, and now the ability to buy in at c.5.5p by tomorrow. It does not look or get better than this prospect.......seriously..!
The last announcement said that a new CEO wasn't a priority and would be looked at later in the year.
However, an additional disposal would be helpful for the balance sheet I agree.
Imagine the boost in share price when they announce the planned sale of their CE business. This can't be a long way off now and is expected in the current financial year. And once that IS announced, then boom. It will be too late to buy in at these levels again - IMO. New CEO expected to be announced soon too.
Buy when others are scared...
Been monitoring this for a few months and just acquired 125k shares at an average of c. 6.3p. Seems well over sold to me with no good reason. £50m raised @ 15p. Debt reduced. Strong strategy going forwards. Should be at least a one bagger within a few months.
GLA
I haven't crawled over all the fine print but £53m placing a few months ago + £5m business sale recently = c£60m in the kitty.
Mcap now £40m.
Just how much money could they possibly have lost in the last few months?
What am I missing?
I'm in. Not sure what price as my buy didn't show on the trade log.
Could be a mistake. Let's see.
Anyone?
Bueller?
I'd rather have a 4x :)
Punts on likely cash-in-hand now?
Close :)