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150 million shares at 2.5p
no idea, i dont want to speculate. thing is i have already bought in, hmmm i reckon they could issue at 2.5p.
How many shares do you think they will issue for the £3.5m needed?
Trading update Further to the update on trading provided in the Company's interim results on 9 September 2015, The Company is pleased to announce that it expects to report turnover for the year ending 31 December 2015 in line with market expectations. Results for the third quarter delivered EBITDA in line with budget due to strong revenues, 8.8% above budget, offsetting lower gross margins and increased personnel costs. Personnel costs have been impacted in pound sterling terms by the stronger US dollar and increased resources supporting the higher revenues. Full year results are subject to the Company's performance in Q4 which typically delivers 40-50% of the year's EBITDA. The current expectation is that the Company will deliver EBITDA for the year to 31 December 2015 in the region of £1.6 million to £1.8 million. David Stoller, Executive Chairman of the Company, commented "We are grateful for the continuing support shown to r4e by AIB and their commitment to working with the Company to achieve an acceptable settlement of our bank facilities with them. Whilst trading for the year has been slightly behind where we expected to be at this stage, we are confident that the successful completion of the refinancing of our bank debt will position the Company well for future growth."
im going long on this
The Company has been progressing discussions with equity investors who have been approached to raise the equity funding to enable the Company to fulfil its repayment obligations under the Agreement ("Equity Fundraising"). The Company anticipates that it will be in a position to provide a further update shortly. Having received feedback from potential investors, the Company has been in discussions with AIB with regards to the variation of certain terms under the Agreement. The Company has proposed the following amendments to the terms of the Agreement: - that AIB will no longer convert an amount equal to £5,155,000 of the outstanding principal debt due under the Existing Facility into new ordinary shares in the Company ("Ordinary Shares") or receive a European put option over the shares; - that instead, AIB forgoes the £5,155,000 of the outstanding principal debt due under the Existing Facility in consideration for the grant of warrants over new Ordinary Shares (the "Warrants"), with the number of warrants to be equivalent to 5% of the issued share capital of the Company on completion of the Equity Fundraising and exercisable for five years at a price per share equal to that of the Equity Fundraising. The Warrants would become exercisable only once the closing mid-market price of an Ordinary Share in the Company reaches 5 pence; and
The Warrants would become exercisable only once the closing mid-market price of an Ordinary Share in the Company reaches 5 pence; and
Well if it’s worth so much, how come they are struggling to raise the £3.5m they need to be able to pay AIB back £9.5m through existing resources and a new debt facility? The goodwill on the balance sheet has been written down by £6 odd million in a year because it was overstated, which isn’t a good sign (it was £13m it is now £7m, what are the chances of further write downs?) The fact is that R4E has net liabilities of £6m and that’s only if you believe that the goodwill and intangibles are worth what they state in the interims, discard the goodwill and intangibles and net tangible liabilities here are about £16.5m (that’s really close to the fictional £20m the company is supposedly worth, lol) What are the chances of them raising the £3.5m in equity needed at say 2p? who in their right mind out of either the existing shareholders or the new ones mentioned in Friday’s RNS are prepared to lend without there being a significant discount? ……. I’d say not many hence the delay Big dilution coming here, once the dust has settled it will be easier to see where and what the value is.
and offered him ten million to buy r4e he would say NO. Offer him £20million he will probably still say no Therefore this whole company is undervalued . I win.
lol, okay then - imagine R4E was put up for sale? how much do you think stoller would sell it for?
interesting @ 2.5p to buy - I can see how it could do 4.5/6p ...
Goodwill is worth £20m?!! and I thought it was only R4E that overstated their goodwill value, seemingly not.
you have a very wiered username - anyway I was walking past the gherkin in Friday night thinking about r4e and im convinced stoller would not sell it for less than twenty million so the reality is the goodwill alone here is worth twenty million. To control Broadway marketing and central London Theatreland would command a premium . This is woefully undervalued and carries no commodity risk - could easily see 5p plus here
Bank cash of 2.45 million as expressed in last accounts. 75 million shares in issue, therefore R4E cash positive to the tune of 3.25p per share. Free-float is approx 35% of the issued share capital. This will fly on a modicum of good news. GL all
Guess it's the uncertainty ad to whether they can get the placing away. Delays are rarely good news, but we shall see.
how do the mms know the placing price or who we are raising equity with and then dropping the price
hmmmm
RNS Further update on restructuring agreement with AIB Further to the announcement by the Company on 10 June 2015, the Board of r4e is today providing an update on the status of its conditional agreement (the "Agreement") with AIB Group (UK) plc ("AIB") to restructure the Company's existing £14,785,000 loan facility with AIB (the "Existing Facility"). On 9 September 2015 the Company announced that it was required to secure the funding to fulfil its repayment obligations under the Agreement by no later than 31 October 2015 (the "Funding Deadline"). On 25 September 2015, the Company announced that it had received an offer letter for a new 3 year secured asset based debt facility of up to £9.5m with PNC Business Credit ("PNC") being made up of a £1m term loan and a revolving credit facility of up to £8.5m based on qualifying accounts receivable. The facility is to be used to refinance the AIB loan and provide the Company with working capital (the "Proposed New Facility"). PNC's provision of the Proposed New Facility is subject to agreement of legal documentation and the satisfaction of certain conditions precedent, including the condition for r4e to raise a minimum of £3.5m of new equity capital. The Company has been in discussions with a number of potential equity investors, both existing shareholders of the Company and new investors, and these discussions remain on-going. AIB remains supportive of the Company's fundraising efforts and has agreed to an extension of the Funding Deadline to enable the Company to conclude its discussions with equity investors, with a view to securing the required funding to enable r4e to fulfil its repayment obligations under the Agreement. A further announcement will be made in due course.
says
I reckon this will hit 5p
to fill that 4.75p gap?
reach4entertImwnt you'd have to pay at least £20million for it simply because it controls london theatreland and ny Broadway. You'd pay a lot of goodwill to acquire this I reckon - hence this is undervalued and can multi bag
Really undervalued here
the second half of the year, in particular, the key Christmas period is the most profitable period in the year for Newmans. Newmans is also focused on developing its presence in the digital signage market and over time expects that many new films will use digital signage for promotion. should be good with Spectre and Dawn of Justice coming out
Do the maths!