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it will probably go under 10p first won't it? MMs like to punish fools in that way....
you could be in Reynolds other one BST down 50%
Is it safe to come out yet?
Well pumped up share price b4 placing announcement.could only get away 2.5 million 10p.
whether we get the RNS before market open, lunchtime or afternoon is not material to me. We know (unofficially as of yet) that the placing has been done; we know why the trading update was so late; and we know that there has been a forward selling of shares. The latter point should mean that most shorts will have to close soon. There is significant upside from here
Probably not until Friday after hours.
nothing as yet
Fingers crossed ...and toes ...
Bakky, I wasn’t sure whether it is still classed as an accelerated bookbuild or not, even though AR sorted it out at a much more reasonable price! Or whether those unusual clauses in the bookbuild RNS were used? It would be poetic justice if Finncap got £0 for their failed attempt! I guess the RNS will clarify it and we don’t have long to wait now!
Hemo;' It's easy to blame finncap but the Board needs to take responsibility for this farce. They should have known better'.
I think that is exactly what AR did once he could see just what a pigs ear Finncap were making of it.Yes, lower revenue per test will happen, but hopefully the volume will really ramp up too especially with India coming online anytime now. Don't forget in India they only have to do 2 tests per outlet per week to reach that 180k + units, though at less per unit in India.
Steve, please correct me if I'm wrong but it's not an accelerated bookbuild anymore is it? AR took it off Finncap and did it himself through his rich mates.It is all done and dusted isn't it, full £2.5m in the bank @ 10p and sorted, or have I got it wrong?
The growth rate between H2 2017/18 and H1 2018/19 concerns me. Although test volumes increased by 21%, revenue increased by 7%, which means that revenue per test is falling, presumably because of the greater proportion of international sales. The increase in test volumes of 21% was also lower than the 27% growth rate reported between H1 2017/18 and H2 2017/18.
Growth in test volumes has been slowing and so has the average revenue per test.
We need more new contracts to come onstream.
With a cost base of c.£10m per annum (it will inevitably increase from the £9m to 31/3/18 because of the appointment of Rees and Jefferys as well as the expected growth) we need sales of roughly £19m to £20m just to break even, or 180,000 tests.
This is not going to happen until y/e 31/3/20 at the very earliest and most likely y/e 31/3/21.
My forecast for loss before any exceptionals to 31/3/19 is £4-5m. This is not a small loss as Loserfrith claims.
Why are we buying stock from Illumina when our service with them is not starting until 2020? Seems ridiculous to me!
I cannot see Illumina buying us until we have established a service with them.
I keep on holding although I am very disillusioned. I even bought more at 13p last week because I thought with the settlement secured we could move on and the future was brighter, but I feel royally shafted by the Board.
It's easy to blame finncap but the Board needs to take responsibility for this farce. They should have known better.
Let's see what tomorrow brings but I won't be selling for now.
Bakky ... just a guess - happy to be surprised by 7am than disappointed by 1pm! I’ve seen a few accelerated bookbuilds announced at 7am and done by 1pm the same day - no doubt they were already “in-process” before the 7am announcement so that doesn’t make them that much different to our after hours announcement! I’ll be hitting F5 on the RNS page at 7am just like everyone else :-)
If there has been significant short selling, which recent price movements would suggest, then tomorrow maybe similar to the New World Oil and Gas fiasco 3 years ago. Having said that, if this is the case, I would expect it to be less dramatic than with NEW. Tomorrow will be a very interesting day for NIPT. I am quite excited to see what happens, however, do wish things could be simple with NIPT for once.
My thoughts exactly ...they.ll be a shsrp 7am rns ...nailed on ...but following the Friday rns timetable. 2nd tranche ... likely for bod members i would have thought.
Steve, why so late, isn't all done and dusted? RNS 7am to confirm details?
My guess is the RNS will be between midday & 1pm - £2.5m complete. (Just based on previous accelerated book builds announced at 7am - normally done and dusted by lunchtime..)
The best thing that the BOD can do is issue a RNS at 7:00 confirming that the placing at 10p was oversubscribed and that NIPT has found a new broker. I certainly will not be selling.
Sorcerer - On the face of it, even though the placing has been fully taken up, the bod seem to be tied into the 25 days to complete the two tranches. I can't see it but I wonder if Reynaulds has worded the RNS to leave open any sort of retraction to give the opportunity to complete on the 4th. I thought the idea behind the extended period up to the 25th is if the total amount required is not achieved by the 4th an additional 21 days is available to seek the full £2.5m. This could, in theory, be over very quickly.
I have read the two late RNS releases. Overall I am still comfortable. I think with this share you need to hold your nerve. Raising capital to invest is ultimately going to help NIPT progress into new markets. Over the last few days I suspect many parties have taken a position in anticipation of a drop on Monday. However, depending on what news comes out tomorrow a few of those who may be shorting might just get caught out if the SP increases. Given that this is AIM, until the BOD start announcing positive news we are going to be bouncing along. I might actually buy some more tomorrow if this does fall below 10p.
Unfortunately you have to be a fee paying mug to read his poor analysis each day, so I will be unable to read the link sent.
A couple of articles detailing Finncap's fuck up.
Given that I am a TW fanboy you should be able to work out the links yourselves
https://www.*************.com/views/38547/premaitha-results-placing-and-the-sheer-uselessness-of-broker-finncap-wankers
https://www.*************.com/views/38543/finncrap-a-disgrace-to-the-city
Have reflected and spent time reading the results and statements in some detail over the course of this morning. Clearly I was somewhat over emotional at the seeming large step back after the high of the recent agreement with Illumina!!! Interested in the detail (albeit from TW) on the clusterf**k that was the FinCap attempt of carrying out the placing. Will definitely NOT be selling and will buy more at 10p (if it drops 20% or more to flush out weak holders) tomorrow morning to maintain my proportionate holding. ATB
Not quite the weekend I was hoping for, but on reflection, it's actually been quite helpful that we've had a couple of days with the market closed to absorb the RNS's and understand what's actually happened here re the placing (assuming TWs account is accurate).
There was some odd wording in the placing RNS about the placing conditions that I do not recall seeing with other placings - edited extracts below:
"The First Tranche is conditional, amongst other things, on the following:
i. the Placing Agreement not being terminated prior to Admission of the First Tranche Shares and being otherwise unconditional in all respects;
The Second Tranche is conditional, amongst other things, on the following:
i. the Placing Agreement not being terminated prior to Admission of the Second Tranche Shares and being otherwise unconditional in all respects;
ii. the Subscription not being terminated prior to Admission and being otherwise unconditional in all respects (save in respect of Admission of the Subscription Shares)"
This struck me as odd at the time, but I figured it was a safety net for the directors, in case they couldn't raise the rest of the funds. However, I wonder now whether it was specifically included to allow the whole thing to be replaced with AR's fund-raising, which wasn't quite complete at the time of the RNS?
I think that, given events and the speculation over the weekend, it's pretty certain that we will get some form of further RNS in the morning, hopefully confirming that AR has done the placing at 10p and that it was oversubscribed (in which case, we should probably take as much as we can get).
I've never been in a share with a short squeeze on it before, so that could be interesting - average daily volumes are usually only a few million shares, so if anyone has sold forward in any quantity and needs to close rapidly, it might be a good day for LTHs. Add the possibility of increased news flow into the mix and I think it's going to be a very interesting few weeks.
I'm going to fight on. It's been a ride. I have 1.6m shares. I'm very very angry. Furious in fact that after all these years to get shafted at the end by day traders failing to rise the challenge and gradually withering through the weekend. This is a 'bump' which can be overcome if we focus on end target. Now the final card is fear mongering to create a run, it's a trick used by police interrogators called "prisoners dillema". We're not prisoners though. We got thrown the kitchen sink. Good news is coming shortly. We move on. Some posters this weekend have been disappointing to say the least. But there you go I would just like to explain the Directors skin in the game . The Company has 53,506,751 shares under option and a further 98,511,560 shares under warrant. Of the 53,506,75 options 19,400,000 are exercisable up to 10 July 2028, at a price of 7.75 pence per share. 3,825,000 options over ordinary shares under the Company's Enterprise Management Incentive (EMI) exercisable up to 29 October 2027, at a price of 10 pence per share. 5,500,000 of the options granted in July 2015 under the Company's EMI option scheme have an exercise price of 20 pence per share. Lyn Rees' 10,000,000 options are exercisable at 7.75 from memory. 940,000 options issued in 2016 are exercisable at a price of 20 pence per share. This should give you some idea of the options price and target of the Directors. Large Options summary Lyn Rees 10,000,000 Keng Hsu 3,550,000 Dr Stephen Little 13,755,984 Dr Bill Chang 700,000 Barry Hextall 5,000,000 Other 20,500,767 So the Directors have a huge stake and have already purchased this May.
No!