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Wow.... talk about disgusted with the performance of the BOD , ..I mean 185% dilution is enough to p*ss off even the keenest of supporters
Hope he had a Derivative hedge bet against the SP drop....
PLOP
Did I read that right, in that he had 15.3% of the stock (53m shares) and has dumped the LOT?
Well that is one big seller that doesn't have any more left. Seems like if you were going to sell you would have already.
Of course it is. they always butter their bread in favour of themselves. while milking PI to keep the company actually in business.
The ex entitlement date for the open offer is 7 May so anyone buying now will get an option for more shares at 1p. It looks like some of the new placing shares, including the director shares will begin trading on 7th May, does this mean they will be able to take part in the open offer as well as the discounted placing? If so thats a bit cheeky IMO.
I suspect the 1p Book Build buyers are forward selling ...a number will only have bought in order to sell at a quick profit , I am not convinced this price, or bit higher will hold , ........ with another dip possible...IMO ... remains to be seen
Open Offer will look attractive at 1p if the market price holds above that though
Although I personally think you will be missing out on a lot of the recovery gains if you wait for the presentation on Thursday. But the share price should rise steadily for the next few years atleast
Referring to Traxpern
Good luck with your investment Silver
I can see two, I hope you don't think I'm the 3rd one - I'll be investing in this next week as I genuinely believe they seem to have turned a corner (motoring pun entirely intentional).
There'll be just over 1 billion shares in issue at that point - the exact number is further back in the thread, but it's between 1 and 1.1 billion (think it's about 1,050,000,000)
3 trolls, things must be looking up
“The Board is however now confident the combination of this £6.5m Placing, the £2m Open Offer and the £13m local authority loan is sufficient for working capital and capital expenditure needs over the next few years.”
I like this share.
Can someone please tell me what the total shares in issue will be after conditional and placing submitted please?
Thanks Bridge - I'm still playing catch up, it appears that site restrictions were indeed an issue but they've all been overcome. Time to break out the chequebook!
Silver, this has been covered: "The programme is proceeding to plan. We expect all but one of the furnaces for our £50m sales p.a to be on site by mid-year. The issue with the last furnace relates to our site expansion rather than the machine itself. The protracted negotiations regarding the site expansion have now been concluded enabling the last furnace to progress."
The MCAP will be factoring in the current burn rate - that's what I'd like to know about ASAP - what's the monthly cash burn depending on production level? I'll be honest I don't really like this £25/50/75/150m capacity point - it's no good having the "capacity" if you're not hitting the output numbers, as those are the ones appearing on your sales invoices. There was talk in the last presentation and I think in some recent RNS's about the need for on-site expansion, and new buildings etc - are we certain that they actually have somewhere to put these new furnaces when they use the £13m to buy them - it'd be a crying shame if they spend all that money and the furnaces sit around gathering dust in storage because there are delays on buildings or other infrastructure - my firm is always getting let down by civils contractors, not to mention the bloody energy suppliers.
The directors will be keen to restore confidence. We’ve already been told that operational performance is improving, we need to know:
- scrap reducing,
- Plant availability
- Delivery arrears
- Furnace installation and improvements
-new contract awards?
I wonder 💭 f the 2023 audited results will be released before the meeting. If not then we can expect another update later in May.
The mcap looks very cheap considering the £13m ringfenced capx loan available, with now £6m cash and huge orders in the books waiting to be fulfilled. These should accelerate our move in to profit.
This is a very fast growing company, the order book has moved from a few million to £75m annually in just a couple of years.
“ The Board is acutely aware of shareholder frustrations with the need for this Fundraising, not least given the proximity to the previous equity fundraise completed by the Company in Q4-2023, but the Directors do therefore want to remind Shareholders of:
- the automotive market drivers and recent progress with the Company's OEM customers;
- the Company's manufacturing strategy including progress on installing new capacity; and
- how such drivers and progress translate into recent and forecast revenues.”
But where else in life would they get their validation sir? and who are you to steal this moment in the sun from them? you brute
Like a old song my way . Bod had nothing to do with it. Just bite the bullet and wait for the share to rise . As many we can manufacture we can sell.
Is anyone else signed up to the presentation for next week? I'm trying to work out how much info will be shared, in that will we get any decent insight (like I'm sure the Institutional Investors have) or will it just be fluff and guff? I'm watching the YouTube recording of the November presentations at the moment, I'd imagine that this next one will sound very similar, as in we're losing money so we need to grow, we need cash to grow but once we get to £50/75m sales there'll be loads of cash.
Very little on the way of delayed trades considering the shear number of buys that failed to move up the Ask. Hopefully open up tomorrow and the buying continues. Silly prices down here now.
It has to be more than £700, as your backside cant be burning for £700.But.....
Mate i put 700 quid in lol
and announced it to the board.
keep grasping at that though! its almost like you have had TWO WINS. You guessed there would be a placing and er..... you kinda knew what I bought??? (but got it very wrong)
All buys, all good. Got to be an opportunity to average down, even with the open offer I’d pick up more.
@RazzaB offcourse you did not pay 6p but one thing is for sure price you have paid for is higher than 1p otherwise your backside wont be on fire.