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Nxc. Mentioned this on advfn and I agree. If pi don't take the placing shares it will avoid further dilution. Inmv they do not need these additional funds. Covid sales will bolster the balance sheet. Cd4 sales should cover development costs for tbe,malaria. The fisr placing seems adequate to me. Unless they have another reason to raise the additional funds. FWIW I had planned to take my allotment but have now changed my mind. Unless it jumps back up to nearer 50 before the deadline
up - as you know I am aware who NXC is and I very much respect his views but on this occasion think he is being a bit misguided. YES if PI's don't take up Open Offer - which is currently increasingly more likely - it WILL avoid some dilution. But this is a strange logic. The Open Offer is there to raise a potential £3m which is between a quarter and a third of the entire fundraise of £10.5m. Which part of the plan are they going to jettison if they don't get those funds? Will it be working capital? Will it be one of the new lateral flow test developments? Visitect CD4?? The bank overdraft?
Do you see my point? Not only will it be a PR and market credibility disaster if the Open Offer flops but they will have to sacrifice at least one of the Use of Proceeds funds. And that is not insignificant. My own view is that the one to be dropped would be the new lateral flow test development.
Benny - stick to driving the fastest milk cart in the west. Clearly your more suited vocation.
Benny, please humour me, but what's wrong with Dibs61's 11:30 post. Seems to me that the suggested outcomes won't be far wrong (albeit not sure we can 2nd guess which project might have to be scales back).
Benny Hill - were you a playground bully? A quick check on your posting history and its all total blurb. You add absolutely NOTHING to this board in terms of research, analysis. So whine and whinge all you like but I will continue to give my thoughts if and when I choose to do so.
The " existing institutional investors and a number of wealth managers" who oversubscribed for the original placing will be happily sitting in the wings waiting for us not to take up the allocation
Some might even speculate that bringing the price down to this level suits them nicely
doubt it..
they'll be considering cutting their losses
& selling into sp decline below 40p will be interesting
Benny ain't a bully? He's just pointing out the obvious. The placing will be oversubscribed not under subscribed. Most of us are having them. We didn't need the big boys to sell down to get that this is the deal of the century. Anyway what's done is done. We'll creep forward gingerly today and maybe if Johnson says something about the testing strategy we might get a decent lift tomorrow. CE Mark's could come anytime and then we're cooking with gas again.
People claiming today that they have "topped up" when they stated yesterday that they had sold out 2 weeks ago?......
Bad memory?
Does anybody else think Dibs is sounding increasingly desperate. Ha.
Pleading for people to sell...please...please I’m right ...I’m right please sell lol.
In any case you don’t have to go far back through his ADVFN posts to find when back in May he posted “Design Freeze next week”. The consortium had only been formed about 3 weeks. Ha ha.
I really don’t get it. This is the first time I’ve been on the board today. FFS Dibs if you’re that desperate fella just buy back in. It’s about 5% above placing price ya tight fkr lol.
Ha ha desperation. What do I care. Give me a nudge when it’s back over 70. I’m going for a swim. Med is crystal today.
No Piper the one who sounds increasingly desperate is you. Because you are by nature what I would describe as an 'alpha' poster who likes to be the top honcho on the boards he frequents. You are just a blatant ramper who never adds any balance to your posts. If anybody, and god forbid they did, follows your diatribe they would have already lost a ton on this stock.
It is you who thinks you are always right but have been proven wrong and can't eat a little bit of humble pie. Never mind. And you DO care because you feel it necessary to respond to my every post whilst I feel no need to respond to all the stuff you write some of which is decent some of which is off the mark but hey.
FWIW I already hold a current position here - a far more modest one than I held before mind, with an average of 46 so I'm currently down. However, my previous holding (which I sold on 9th June) had an average off 11p - as I held LONG before you ever rocked up here - and was sold at an average of 58p. Not bad for such a desperado eh?
It's all about timing Piper on AIM. If you don't know that by now then you are destined to lose money. Knowing when to get in and when to get out. And the ones, like yourself, who scream and shout abuse and talk about lying etc are the ones who are really kicking themselves because they didn't get it right and are just sore.
Well your latest nonsense is saying that the company are gong to drop the LF antibody test. Utter desperation. Nonsense. They won’t be dropping anything.
There's a very good reason you don’t post on ADVFN any more and have taken to trolling this board with your nonsense. Because you’ve done this before in the past and nobody takes any notice of you on ADVFN.
Even “Barrywhit” on there posted last week “I see Dibs has sold again. Upsetting everybody on the LSE board”
Seems you’re a bit of a laughing stock over there Dibs. Obviously why you don’t post there any more.
Let’s not forget: You sold at 58 only because you thought you were getting the placing. Now your nose is out of joint and you’ve had to take your place in the food chain you’re upset and determined to bash the company.
Anybody who constantly flips from positive to negative to positive to suit their own positions irrespective of the fundamentals as you do simply isn’t worth listening to. Just as nobody listens to you on the advfn board, soon nobody will listen to you here. Its already getting desperate, boring and predictable.
Dibs61
Unfortunately fella should you have been propved correct as I and you have done so then you are called a troll
This troll told this hapless lot to sell at a price that is rapidly approaching twice the current level
Of course we are the trolls for being perfectly correct and that is what they dont like to hear.
Dibs I do see your point to a degree. Can you remember the old days when the company only raised the bear minimum to cover costs and investment into cd4. That inmv has been lost a little on this fund raise. We were also lucky to a degree with Mr r Sneller and oryx taking up most of the placing shares together with ex directors. For me I would be happier if they raised less and avoided some dilution. Nearly three million is ear marked for TB, and Malaria poc on the cd4 platform. Why not use future revenue from cd4 sales to cover this. Maybe they are bolstering all segments to get ready for a sale. Who knows I certainly don't.
Fwiw I am still holding most of my original holding and hope you come back. It is also good inmv that we have some new pi investors on board that believe in omega for the longer term. Just like you used to and hopefully still do.
A couple of large orders for Moligic together with China clearance for home testing would do wonders now.
Take it steady up
Anyone cancelling the placing shares?
Yes done it and bought my entitlement plus the same again which I asked for in addition through the open market this morning
Not sure. Is it worth taking any at 40p. I was hoping they might be 60p which would make it worthwhile. I have my order in and will probably leave it. I think at 40p its good value. They will go up
After 2nd july do you reckon an any changes on the sp once open offer window is closed?
I’ve canceled mine. Partly principle. Mostly as 1-20 was hardly worth having at 50p and 42p its a reminder of all I have lost on this Colin King how to shaft your shareholder.
Cool, hopefully get my double allowance....
I don't blame Colin, he is there to build a business, which is what he is doing.
I blame Finncap for another really crap placing.. they have a habit of it!
Some cracking news came in yesterday imop.
There is a small positive here. People still can take this up or cancel their entitlement for a day or so. In a way it is better the price has fallen now as opposed to after the cut off point of the offer. You can now purchase in the open market for just over placing price. For me it would have been far worse if the price had fallen after the cut off point. Maybe for psychological reasons.
Some truth in that Upomega.
I have topped up now at a really good price without the gamble of whether I would get any extra 40p shares I have applied for. Quite happy to be honest.
I cannot see it dipping below 40p and might have to live with this for 40-45p base for a week or two.
Have to say Dibs, your attitude towards Piper and others is appalling.
If you have done research in to this business and also the market, product development process etc you would embrace everything Piper says.
Piper is one of the few posters who provides a reality check.
The reality check on anything you post Dibs fails miserably. Therefore filter bin for you.
Not defending Dibs, but considering he has been in this share pre 10p, he has " done research in to this business and also the market, product development process" lol