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Putting a debt to equity conversion into simplistic terms like that is unwise and misleading
5m euros for 51% stake!!!!! Lots to take in but will they back in the four recent waste projects in to the new company? I think they will!
Significant Investment by EBIOSS Energy in REACT Energy Group and Notice of EGM HIGHLIGHTS · EBIOSS Energy has conditionally assigned the benefit of the €5,150,226 debt due to EBIOSS Energy from REACT's 50.02 per cent. subsidiary, Newry Biomass Limited ("NBL"), pursuant to the EQTEC Agreement (the "NBL Debt"), to REACT pursuant to the Settlement Deed · REACT has conditionally issued, subject to, inter alia, Shareholder approval, 78,210,000 New Ordinary Shares to EBIOSS Energy (the "New EBIOSS Shares") in lieu of cash settlement of the NBL Debt pursuant to the Conversion Agreement, which will result in EBIOSS Energy holding 51 per cent. of the Enlarged Share Capital of REACT · The New EBIOSS Shares are being issued at a price of 5.53 pence (the "Conversion Price"), which represents a premium of 47.5 per cent. to the closing mid-market share price on 9 January 2017 of REACT of 3.75 pence · As the Conversion Price is below the nominal value of the Existing Ordinary Shares of €0.10 each, the issue of the New EBIOSS Shares is therefore conditional on, inter alia, Shareholder approval of the Share Capital Reorganisation which will result in each of the Existing Ordinary Shares being divided into and reclassified as one New Ordinary Share of €0.001 and one 2017 Deferred Share of €0.099 · As the issue of the New EBIOSS Shares will result in EBIOSS Energy holding 51 per cent. of the Enlarged Share Capital of REACT, their issue is conditional on, inter alia, Independent Shareholder approval of the waiver of the requirements of Rule 9 of the Irish Takeover Rules that would otherwise arise on EBIOSS Energy to make a general offer to all Shareholders · At the EGM, the Company is also asking Shareholders to vote on the change of its name to EQTEC PLC · The Proposals are subject, inter alia, to Shareholder approval of the Resolutions, including the Whitewash Resolution, to be sought at the EGM, convened for 11:30 a.m. on 6 February 2017. A circular will be posted to Shareholders today convening the EGM (the "Circular")
Had the opportunity to buy at 2.5p over the past few weeks but decided not to..... big mistake!
Seller had 2,238,158 to sell as of 5th Jan. This morning we had another 750k delayed sell so was now down to 1,488,158 before we opened today. Today we had 1.7m NET buys (which means after all the sells, we still had 1.7m of buying volume, gross buys was over 2.2m) so in my opinion that is the seller clear! Started to move freely also. Let's see tomorrow, looking for a large delayed sell ending. x,238,158 to confirm seller out
Market Cap is below 3m so plenty of room here.
Is now a totally different proposition to what it was this time last year. For over a month we have seen high volume of buys largely suppressed by two distressed sellers (now finished imv) creating liquidity for the first time in this share confirming now this is very much on a number of investors radar as undervalued. Ebioss continues to support providing working capital via an unsecured loan. Funding has been sourced for Newry (11m) and DD is to be completed anyday now. Claycross is ready to be moved forward and Enfield has a glimmer of hope with discussions with the new landlord of the site. Ebioss are moving into the uk in conjunction with chinese funding and Reacts AIM listing is very much on their shopping list in my view. Been tipped as one to watch and target price of 10p is not out of the question very soon. (look back at trouts posts as much more informative) As ever DYOR.
Confirmation re seller which I believe will be clear today looking at volume and rise. Shud move freely re supply and demand and expect this to move north for hear as undervalued in light of Newry progress re Newry and Ebioss interest. GL.
Seller just about clear should make it bounce back to previous range and thats without newry update so every reason to expect a bag here
You are of course right, especially if one isn't day trading. L2 is also wildly addictive. I never thought I could get excited looking at little more than a colourful spreadsheet of changing numbers...
meatfish, I don't use L2 anymore, paid for it for years and one day looked back at my trades and couldn't really see the value in it. You think it makes a difference but most of my buy and sell points were already in my head, having L2 didn't make enough difference to entry points for me to justify keep paying for it. I use online limits offered by different brokers to see what is happening but that also can be manipulated by them.
troutisout, which l2 do you use? LSE reliability issues are annoying me and it sounds like you get more data back than I do here
}Only 150k on the offer now, thought they may be bluffing.....
MMs currently offering 300k at 3.84p. Have they got them or are they trying to place a cap on the rise, I reckon we could see them move up with smaller buys than that.
So looks like the distressed sellers are out, but MMs will play with this to try and stop a full on breakout, the good thing is at this price and with the overhang gone, we are cheap as chips with Newry News imminent....
You can thank me later
There seems to be quite a bit of interest in REAC.
Could move up substantially with full ask paid! Last chance under 4p? GL
Buys now over 3.5 have Mm finally run out? GL.
Buys now stacking up with 1.7m traded! Mm have go to move this soon? News leak? GL.
Better get in here or paa for serious business I think
Building momentum and another 750k gone. Watch this space when supply runs out! (is someone accumulating prior to funding news? ( Ebioss)) Got to pop at some stage! GL
by Friday 🙏