Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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I wonder when Mysale will publish exact, and further details, about the proposed possible Open Offer?
It would be useful for investors to know well in advance.
And now a little fury of activity
Moves on very little volume
Low free float too
Mmmm nice
How very quiet it is today
Bizarre
Morning bud, Decent buys gone through this morning yes.
are those buys going through this morning, on top of that sizeable purchase late yesterday?
MYSL have been busy today with all those RNSs and like all, have been surprised at the low placing price, but then again, I assume that they simply followed advice to get that deal away. However, it is heartening to see those Director's deals, which says something about their view of the future.
Who else bought when we allowed to this morning? Remember the excitement MYSL created a few days ago?
Big statement from guys at the top, 2 million quids worth of shares each aint no joke. Expecting TR1’s and good amounts of news flow to get us back up the ladder. Gla
MySale Group PLC on Tuesday said it has raised at least GBP11.2 million before expenses through a share placing.
In announcing the placing earlier Tuesday, the online retailer said the new equity would enable it to repay its bank debt, meaning that it will operate on a debt-free basis, improving cash flow. The fundraising also will support the restructuring of MySale into an Australia and New Zealand-focused retail marketplace platform - what it calls its "ANZ First" strategy.
Some 79% of MySale shareholders have supported the placing of 560.5 million shares at a price of 2 pence each.
The placing price represents a discount of 58% to the closing price of 4.75 pence on Monday. On Tuesday afternoon, MySale shares were trading 37% lower in London at 3.00p each, giving it a market capitalisation of GBP4.6 million.
Executive Vice-Chair Jamie Jackson and Chief Executive Carl Jackson both participated in the placing, MySale said.
The chief executive subscribed for 100.0 million shares at a total price of GBP2.0 million. He now has a 15% stake in the company, holding 103.7 million shares.
The executive vice-chair subscribed for 10.0 million shares in the placing for a total price of GBP200,000. He now has an 8% stake in the company, holding 57.5 million shares.
"During the last 12 months the MySale business has contended with a series of significant challenges, particularly in its core Australian market," noted Chief Executive Jackson.
"The future offers significant opportunities which we will be well placed to capitalise on. We will be debt free and expect to be cash flow positive," added Jackson.
On Tuesday morning, MySale said Executive Vice-Chair Jackson has decided to step down after the forthcoming general meeting.
Therefore, the company said it intends to strengthen the board with the appointment of three new additional non-executive and executive directors, including a chief financial officer.
how much cash will they have in the bank once they clear the debts?
What a bunch of tools these guys are though for issuing placing price 50% discount. Given initial low amount of shares in issue and the fact most are tightly held can still see this moving up considerably from here with some decent news. Debt free, thats a start.
all those moons ago ……….
https://www.drapersonline.com/people/drapers-top-100-2016-92-carl-and-jamie-jackson-co-founders-mysale-group/7016645.article
Anglo-Australian flash Sale business MySale Group got back on its feet last year after a turbulent 2014, and now there is no stopping it.
Brothers Carl and Jamie Jackson started the business in 2007 with a clear focus: take advantage of the opposite seasons in its markets to shift unsold end-of-season stock.
There was a financial wobble when it tried to expand too quickly, but that aside, the model has proved a successful one, attracting investment from Sir Philip Green and Mike Ashley.
In 2016, the Jacksons have focused on gradually expanding MySale Group. Earlier this year, they announced a new strategic partnership with Sports Direct to sell its brands in Australia.
I've just took 50,000 at 2.70, there all piling in now,
500k buy just gone through. Someones confident...follow the money!
Read the just announced review, with the price at 2.5p and 50,000 shares no more that £1500 it's worth a punt especially as they sound bullish and of course Mr Green wants his investment and share price back to a good level. Good long term buy I think despite the sell off this morning
Around 500k of shares old in an hour, do they know something I don't? at 2.5p 50k of shares wont break the bank at less than £1500? Any views and advice
But this has been on the risers and fallers more often than anything ? someone fill me with confidence
You can be sure those who picked that volume up at 2p want a good profit on their investment, not to mention the ii’s who paid much more. A case of holding and adding on dips if there are any.
Knigelk, correct. Thats the risk we take given its aim. Holding on a loss here now, have added some this morning.
79% of the placing shares being bought by shareholders show they’re more than happy to pick these up at 2p (thats a lot of shares to buy) - leaves us mopping up the remaining 21%, once they’ve been churned out then can see this moving swiftly, considering we’l be debt free with plenty of news due on a number of fronts including new board appt’s and business opportunity its an excellent entry price.
What’s going on here? Is it a good time to buy and buy big? Can someone advise
Can buy...and did so at 2.78. GLA!
Finally...3.1 on the ask.
hmmm.
I've put in a more sensible limit order to buy...let's see if the MMs, finally, will stoop low and take my money.
And at 2p - a bitter pill for holders.
Placing. Not sure it's so over valued now, Adam...