Sapan Gai, CCO at Sovereign Metals, discusses their superior graphite test results. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
We all know its not great for existing shareholders if this goes through but its not the worst outcome. The new shares could have been issued at 2p or 3p and still would have given the new shareholders lots of skin in the game. Without totally wiping us out.
For us existing holders, really we have to hope that this gives us time for a buyer to come in. Again got to think £30-40m now and the new owners do the fat cutting then they can turn it around for a big win still.
Lets us hope!
Thanks Banbury
Don't think Babu sold any. It's a family member with additional position. Names in declarations are different.
No Ian
£2.5m from investors 7 for 8 rights at 1p
£10m from new investors.
Bank is supportive but wants them to explore sale options.
The interesting thing is Babu who brought in heavily before Xmas up to 17% has in the last few weeks ( since it was bombed out) gone to 1.5%. Clearly he's done a deal presumably with the big three so they can swing the shareholder vote to restructuring.
Anyone genuinely interested in buying the Co might need to mop up the shares. Probably a win win as they come with rights.
I'm actually expecting this to rise to closer to 2p. Famous last words !!
Also, am i reading it correctly? they are looking to raise £20m? 10.5 from a placing, and 9.5 from investors?
must be a hell of a placing considering the share price in in the toilet. last one was 20p, feel sorry for those guys caught in that.
"No offer of BOD or CEO trimming there very high pay packages. Very disappointing."
yeah, i agree, however the key investors stumping up 9.5mil must be ok with it, else im sure that would have been one of their demands in order to provide funds.
I'm hoping for a buyer.
Giving away 85% of company for £10m seems very dilutive to me. Albeit dilution is cut by participating in rights issue.
No offer of BOD or CEO trimming there very high pay packages. Very disappointing.
And more importantly people's jobs
As an alternative to the potential Restructuring Plan, the Company has today launched the Formal Sale Process, to explore whether a sale of the Company will provide a more beneficial outcome for stakeholders than the Restructuring Plan. In addition, the Company is exploring whether a sale of one or more of the Company's subsidiaries, or the business and assets of one or more of the Company's subsidiaries, including the Plan Company, will provide a more beneficial outcome for stakeholders than the Restructuring Plan (the "M&A Process").
Highlights
· Proposed Fundraising to raise up to £10.5 million via a Firm Placing and Subscription and up to approximately £2.0 million via the Placing and Open Offer.
· Cornerstone investments of £9.5 million, being £3.0 million from Luke Johnson, £3.0 million from Robus SCSp, SICAV-FIAR - Robus Recovery Fund II ("Robus") and £3.5 million from three key existing shareholders.
Wow! Another shorter that's yitting themselves...
I think we all know the score here...anyway I congratulate you on your copy and paste skills from Sandyman's link...well done!
£10M cash call
market cap 'little over £1M'
'If the restructuring plan fails to gain sufficient approval from creditors, the only viable alternatives for the company would be a sale that would ascribe little value to its equity, or administration'
They're not, look again. All transactions took place before 2nd April. All others are declarations of current holdings.
Can anyone enlighten me as to how / why so many big deals are taking place while the shares are suspended? Is it off market transactions?
You obviously hope...
Yes but the shareholders will be left with * uck all!!!
A notable contrarian purchasing stock...
There is another article today that suggests a bailout is in the works.
Https://news.sky.com/story/revolution-bars-close-to-finalising-rescue-fundraising-13110984
Wow! Such a useful comment gives me a tremendous amount of faith in humanity's future...
It's hideously insolvent and substantially loss making. Why would anyone be holding this?
What they really need is someone to come in and pay off their debt...
Not publishing the interim results so being forced into a temporary suspension is a strategy to stop the sp tanking even more. The current sp as an indication of the value of the company has now become fictitious and irrelevant as it is based on sentiment and speculation only. The true market price is what anybody is prepared to pay for it, yes it could be less than the current market value but IMO it will sell for many multiple times more. We shall see.
They want /need £10mln according to the initial Sky reports last month
That's x 3 the market cap
Can't see it being pretty
Interesting chap. If the CEO & BOD can take advice from him and can learn from his successes and failures then RBG has a good chance to turn around. Big "if" though....new CEO is required first IMO.
Last post from me for a while, going to sit back and see how events unfold. I would be happy with a part sale or full sale of the business, at the right price, and there is a possibility this may happen.
There is also a possibility Luke Johnson may get involved, interesting Rev Bars decided to name him in the recent RNS. Mr Johnson has significant experience in the hospitality industry, and especially for turning companies around. Any PI that hasn’t already done so should take a few moments to read up on Luke.
To suggest suppliers will now want money up front from Revolution is naive at best in my opinion. Rev Bars have not defaulted on any payments, why would suppliers therefore change their payment terms. Rev Bars increased turnover last year by £11.8 million to £152.6 million. £152 million is a significant amount of alcohol and food. Distributors (suppliers) to the Hospitality Industry will be facing their own challenges. Suppliers to Rev Bars will not want to lose the business, along as the current terms are being met. If anything, if approached to do so, it wouldn’t surprise me if certain distributors would reduce their margins and lower costs to keep the business, after all the supply to 58 bars and 22 pubs I would suggest would be a significant account to have.