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"Like many I am stuck, unless I sell at huge loss,"
Prime - i think that's what some of us have been harking on about for some time. Are you really likely to recover losses back? or is there going to be further drops?
Calderkate: Glad you got to vote against. Might still be time for others to vote AGAINST !
Then it's in the lap of the God's..........or crotch of the robbers (bod)
Like many I am stuck, unless I sell at huge loss, and at the mercy of the market and the heist masters on the BOD.
LIB - sorry about your loss. There are quite a few of us that lost heavily with this share. Part of the reason I went heavy with ODX is that I thought they must be legit to do business with the gov...OK i can be very stupid at times!
I hope you make back your losses
Sorry, I do not believe, I'm still not selling my 300,000 plus shares but as others have said on here previously it stinks. After so many things just don't occur as previously announced, there has to come a point when enough is enough. I no longer believe anything which is announced. I have voted against this share consolidation/reorganisation and urge any other shareholder to vote for themselves. We have been told too many things which have not happened even the total opposite.
Some posters may claim to say told you so.
Guess what I haven't lied within any of my posts.
Captain Swag, I do not post on these forums but keep up to date by reading other peoples views, I totally agree with your post on 08:34. I have a very substantial shareholding at a 90% loss (like many others who invested with these lying, deceitful, incompetent crooks) I have voted NO to all proposals this morning and encourage others to do likewise. Absolutely no benefit to shareholders yet again, just feeding the gravy train is all they are interested in. Maybe they should focus and concentrate on selling and making profits like a proper company would / should do. How they have escaped Jail for fraud is beyond me £1 to 2p should carry a life sentence not fat pay rises
"in particular anyone hiding behind nominee accounts (especially overseas) who may be building a stake under the radar."
jeez.. are you being serious?
No TR1s ..hardly any buys ....who exactly do you think is building a stake
the number of shares has never been an issue before. if someone wants odx the number of shares won't matter - it is about percentages
the only good news is for the bod - they have secured the possibility of future placings and therfore the gravy train. they can raise again at anything above 10p (4x current sp) whilst diluting by x61. think about it
could give massive discounts - which they will need to get one under way considering the last disastrous one
actually thinking about it - they could get the bucket shop flippers out of jail but doing one at a huge discount for them? giving them a chance to recover their losses from the last one?
''in particular anyone hiding behind nominee accounts (especially overseas) who may be building a stake under the radar.''
That is the funniest (and saddest) thing I've read in a while... Bognor5-0 you are deluded.
Next you'll be saying a placing will be good news for ODX as it puts money in the bank!!!
The share consolidation will really set the cat among the pigeons as it will allow ODX to see exactly who is on the share register, in particular anyone hiding behind nominee accounts (especially overseas) who may be building a stake under the radar.
In my view the name change and share consolidation is good news, if any bid is going to occur the time window is closing quickly, those 4p warrants expire in early November, this leaves ODX wide open for a bid without 90m more shares for any prospective bidder to concern themselves over.
Interesting times.
OK with ODX you have to read between the lines.
in my opinion there is a serious possibility that they know a final decision will be made by gov regarding dispute fairly soon.
i have said all along that since mediation failed the next step could well be gov taking odx to court. something that odx cannot afford. firstly i would question the merit of their case having read the contract. secondly they cannot afford to lose and pay costs. if they can negotiate a good deal eg half what is owed that would be a good result. failing that it is pay back the lot
so should we be expecting news on the dispute soon and will it be bad?
"The Directors consider that this number of existing ordinary shares is excessive for a Company of Omega Diagnostics' market capitalisation. "
well they haven't minded for long enough - maybe do something to increase the SP to therefore increase market cap?
"In addition, that price per share is less than the nominal value of an ordinary share (being 4 pence). The Companies Act 2006 provides that a company may not issue shares at a discount to nominal value. Accordingly, given the discount, the Company is not presently practicably able to raise further equity investment."
so have been right all along as to why it is happening. right again. unfortunately
"Whilst the Directors have no current intention to seek to do so, it would be preferable for the Company to be in a position to raise equity investment in the future if that was considered to be in the best interests of the Company at that time."
yeah we heard this before and the next day they were touting for business with the bucket shop flippers.
question : do you still trust this bod?
Who would now trust any further placing?
From then RNS..
"The Board believes that a consolidation of the Company's Ordinary Share Capital will result in a more appropriate number of shares in issue for the Company and provide more options for the Company in the future."
More placings.
The Companies Act 2006 provides that a company may not issue shares at a discount to nominal value. Accordingly, given the discount, the Company is not presently practicably able to raise further equity investment. Whilst the Directors have no current intention to seek to do so, it would be preferable for the Company to be in a position to raise equity investment in the future if that was considered to be in the best interests of the Company at that time.
Captain, you were right Ref the above snippet from the RNS. Also to anyone who has been here a while remember this trick was played before regarding the line ‘Whilst the Directors have no current intention to seek to do so’ in the words of Rob Brydon “we’re you telling a truth or a lie? “ Response would have been from ODX ‘ we told a big fat lie’.
Value is that your giving to charity
I think thats good of you to do that
Where's the value for shareholders?
Have shareholders been misled?
I'm not expecting anything no more. Absolutely disgraceful behaviour.
If the price stays around this level it will be £1.44
The rebrand and share change seems about focus on conning mug punters. The way this has been sneaked out and last minute RNS tells you everything about how this company views its holders.
Expect a dilution within 12 mths. This is the way the company has survived. Simon Douglas seems to despise share holders - not even being in the meetings anymore.
Life style business where shareholders will be milked. If you can sell then I think it makes sense. When the consolidation happens it could go either way but most likely is down.
As you would say its all in todays RNS
enjoy the read
More ridicule, you are unbelievable.
Good RNS explains everything
appears that new price will be 10p
Any shares that dont meet 61 to 1 ratio will be given to charity (quarter of daves flat)
Even explains new name change so no excuses now for not knowing new name
It is funny cos £2.50 was my target for odx when they got the gov contract...the contract that turned out to not really be a contract at all.
This time next year Rodney.....
If they put the share price up to £2.44 we have to watch it fall all the way back down again. At least when it’s 2p it can’t get much worse.
Do you want the long answer or the short answer?
Short answer - so that they can dilute the share for the next couple of years . Those bonuses don't pay themselves.
Question numpties should be asking is why is it 61?
I think the company have said that they think there are too many shares - however never been a problem before? and if they stopped doing placings then there wouldn't have been.
my own thought is that allows future placings...which were no longer possible at existing SP. company cannot place under nominal value (4p) and they prob don't believe it will go back up above that.
there is no single advantage to existing SH for it - and in my experience it only ever signals worse to come for SH