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I've had no reply from Stephan which is unusual (probably not considering the #MATESRATE Fundraise)
So this guy from Allenby said this
Guy McDougallGuy McDougall
• 3rd+ • 3rd+
Director, Equity Sales at Allenby CapitalDirector, Equity Sales at Allenby Capital
3h • Edited • 3 hours ago
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Great fun to work on this. At the forefront of a very fast moving, new industry, Mirriad (MIRI.L) offers unrivalled upside potential on AIM - largely validated by the blue chip names of those that backed the raise. A stock to follow very closely indeed over the next 12 - 18 months!
I've back to him for all to see
Not so fun if you're a retail investor that had no knowledge of what's going on behind the scenes unfortunately it smells of a hashtag#MATESRATES Fundraise you should as Mirriads Nomad maybe advised a non dillutive debt finance funding package including factoring or UK GOV supported export credit seeing as Mirriad has announced break even next year. You would be well advised to take note of the Trading Update from Plant Health Care today very similar to Mirriad but different sector. Taken years for PHC to build up their IP protected proposition and now with breakeven inside they're taking non dillutive funding to reward their shareholders. Just hope some impartial Global agency comes and takes Mirriad over now before the hashtag#MATESRATES Fundraise can happen.
Yours a flabbergasted 7 mill holder+2 in Mirriad
Here's the actual post with my comments
https://www.linkedin.com/posts/guy-mcdougall-1a8b9b18_allenby-is-pleased-to-have-acted-as-nominated-activity-7193942848625352704-EvRN?utm_source=share&utm_medium=member_desktop
Its up to you but could be a good way to hit the Nomad publicly hard not just private emails
guys i have to say the narrative you’re pushing is naive and you’re making yourself look the ‘mug retail punters’. mirriad likely 18+ months away from break even and there’s no way anyone looking at the last 3 to 5 years accounts and its current pipeline would offer finance. any finance offered would be at crazy rates and would send mirriad down quicker than a raise.
the mates rates thing is laughable. they simply could not raise any higher. lots of loss making plcs are being bent over on raises, avacta a case in point (again i tried to warn you). many uk plcs are considering leaving as they feel valuations here are poor and finance hard to come by. mirriad has a **** poor record and has had ‘potential’ for years so it was inevitable a raise would be very painful.
i politely think the email and linkedin posts make you look out of your depth as you don’t understand the market and the current appetite for risk.
anyway, if they managed to break even early next year with a large pipeline they might only need a minor raise but if it’s later in the year the auditors will want another painful raise. you’ve been warned.
Hi LovableTB,
Moaning from the sidelines yet again, but won't do anything to help sort out the mess.
Your just sticking to your narrative, that they couldn't do any better, yet the statement yesterday clearly shows they botched the placing from start to finish - didn't even talk to at least one for there institutional shareholders.
2phevs,
"Great fun working on this" - I'm not sure, he'll be saying the same thing in a few days time.
Allenby Capital are digging themselves a great big hole, they haven't responded to me since Friday when my first email went in. Dereliction of duty as a Nomad is on the horizon.
I've only just recently received an email from Mirriad acknowledging recent of my various emails after 3 days of waiting.
LOTM
lotm i’m not moaning from the sidelines i understand the market and am merely pointing out how ludicrous some of your points are. it’s embarrassing. you can’t blame people for not wanting to lend to a loss making co with a **** pipeline. you should be moaning at the ceo (as i have to him, the old cfo and fpr) for his ludicrous salary and worse still the massive bonuses he was fleecing a few years ago. moan at him for pathetic revenues every year he’s been in charge, slowness in programmatic, what happened to disney, how come pepsi and all its brands haven’t spent more and ask questions re when break even, h2 next year and if so how will they mitigate against another shot show? why leave it so late to raise as **** negotiating position.
honestly you are 2phevs are clueless. they would have gone under in august so had no choice.
The NOMAD/broker won’t give a toss what a clueless retail holder says who really shouldn’t even be investing if he doesn’t understand the basics
"Great fun working on this" - I'm not sure, he'll be saying the same thing in a few days time.
Allenby Capital are digging themselves a great big hole, they haven't responded to me since Friday when my first email went in. Dereliction of duty as a Nomad is on the horizon.
This is the funniest thing I’ve read in ages and really highlights your completely clueless. LOTM how old are you and how long have you been investing?
*you’re completely
Wow Guy from Allenby has taken his post down obviously hit a nerve but they can't remove what was said here. Also Osborne Clarke who advised on the deal stated that Allenby are Nomad and Broker for Mirriad very strange....Hope Mirriad get taken out before #MATESRATES Fundraise gets voted through GL almost all
Sorry been out late tonight but even Allenby state they were Nomad and Broker (who sets price) on the placing
Here's the link
https://www.linkedin.com/posts/allenby-capital_allenby-is-pleased-to-have-acted-as-nominated-activity-7193933729818439680-_iVP?utm_source=share&utm_medium=member_android
#MATESRATES FUNDRAISE
Naughty Allenby
Nomads & Brokers On AIM: Potential Conflicts Of Interest?
By carrying out their responsibilities to the Exchange and reporting any malpractice, Nomads naturally run the course of losing out on the fees received from the listed company. Such a system, commentators have suggested, often fails to bring companies to account and therefore properly protect shareholders.
The situation is also made more complicated where the Nominated Adviser also acts as Broker and receives commission for the sums raised for the company. Such a system, you might expect, would create more than a few dilemmas – especially in situations where things are less black and white.
#MATESRATES FUNDRAISE
Reposted the Conflicts of interest paragraphs on Allenby capital Mirriad linkedin post see if it gets taken down see if the Osborne Clark one does as well