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My takings from Onetimes post below is sometime between now and end of August....if there's no delays
On when we might get news on this?
Come on traf
Seems like slight update on timing (but also is probably quite useful for our own timelines)
Pursuant to the Agreement with Esboz, the deadline for settling the sale price was extended from June 30, 2024 to August 30, 2024. The change in the deadline results from the prolonged procedures for listing an entity on the UK stock exchange.
Probably trying to get a deal done asap as it will sit in the way of the RTO.....
£800k is still above the Mcap atm.
This deal looks interesting and potentially promising especially due to the loan that's already been done.
Currently we have 401m shares at 0.0645p each which is just under £260k value.
Let's face it that's very low and cheaper than the cost to add a new listing in the market, which is probably why the RTO is undergoing talks.
From the post the other day the ESports company was brought out for around £12m from its parent company. And have already provided a no strings loan equivalent to our pre suspension Mcap.
I'm not 100% sure on how RTO's work but have checked a couple of sources and these are worth a read;
https://www.investopedia.com/articles/stocks/08/reverse-merger.asp#:~:text=A%20reverse%20merger%20is%20when,of%20its%20board%20of%20directors.
https://www.investopedia.com/ask/answers/040815/how-does-merger-affect-shareholders.asp#:~:text=If%20a%20publicly%20traded%20company,sold%20to%20the%20acquiring%20company).
The second link suggests that current shareholders will just be paid out from the agreed value of the takeover, which could mean hardly any rise, and just getting 0.0645p a share, or they could pay a premium and we may get a little more.
Other bits in these suggest that the private company will take majority ownership and shareholders will continue to own shares at a lower % ownership, I believe this would mean the number of shares would increase substantially (let's say they issue 1600m to the RTO, and therefore the current 400m are worth 20% of the new business.
If the new business is worth £12m that would value the 20% at £2.4m which is nearly 10x the current Mcap.
I don't think this will happen, but I do think if the deal goes ahead we will either be paid or have share worth between 2 and 5 times the suspended price.
If we have shares in the new business they could see a good rise afterwards as well.
If not I may buy some back anyway...
It's also interesting to see that an RTO is often used to be quicker to listing a company rather than the usual IPO process, and is more likely when the private company doesn't need to raise cash.
So it could be done in 30days... although I think 3 months would be good tbh.
Good luck holders. Fingers crossed
Though broadly irrelevant now maybe given the RTO - house dropped to £800k from £830k.
https://search.savills.com/property-detail/gbtwrstus230461
This is all starting to sound very interesting - and quite exciting!
Thanks for the info, OneTimePost
And to add now find that ludus is a polish entity which late last year agreed to sell all shares in ECap Esports ltd (the esports gaming part of the business) to esboz (all linked) ..
Translation of document below..
Report content:
Management Board of LUDUS S.A. based in Warsaw (hereinafter: the Company) informs that today, after the Extraordinary General Meeting, it concluded an agreement with Esboz Limited based in Great Britain, under which it sold 101 shares constituting 100% of the shares in the Company's subsidiary - Ecap Esport Ltd. based in Great Britain, for the price of PLN 63,690,158.69.
Moreover, the Parties allowed for the possibility of settling part of the sales price through the Company's purchase of shares in Esboz PLC, but such an option will expire after June 30, 2024.
SIGNATURES OF PERSONS REPRESENTING THE COMPANY
Date Name and surname Position/Function Signature
2023-12-14 Fredrik Pettersson President of the Management Board.
What’s very interesting is that value is around 12.5m GBP!
This is really positive to hear on the loan - and how swift it seems to have been agreed and sorted too
The more I am digging/ reading it does sound like it could be a very interesting play for us investors.
The ludus app seems to suggest they have already
-partnered with leading brands for cash back opportunities on the app.
- integrating with fifa (though I’m not sure if this is agreement or can be done by anyone)
- more interesting is the links to banking and the experience of the directors.. this is looking to me like there is a fintech element here also which could get a lot of attention (I know I joked sometime ago about a GST style rise - also fintech investor- but this may have similar potential) plus if it does go mad ironically we already have a lot of the potential ramp types locked in so may also help with the boost straight away!
Someone mentioned similarities to GILD but to me this is a different play with software, banking etc.
not going to get over excited but if it comes off then the potential is here for something big.
All the best
Well it's a step in the right direction.
They are still being very clear in the RNS that it's not guaranteed, but the actual news shows commitment which is good.
Hopefully they will continue to update regularly with news when things happen.
Good luck holders.
Loan for a company with a 400k Mcap is a great sign!
Great RNS, 250k with no strings attached. Commitment from Ecap
Rto
I’d also say as being here for a while (not as long as others might add) that even if Thai takes 6 months probably better than BAU for TRAF considering it’s been bumbling along for sometime it would likely continue to.. so oddly quite happy even if take some time
If this App is as good as it purports to be in the media and their negotiations are successful with the leading software gaming companies than it should do very well
E-Sports are have been gaining popularity and growing a lot over the past few years.
This could present a very interesting opportunity here.
Still cautious due to it being preliminary talks at a very early stage, but if everything lives up this could come back from suspension with a significant increase.
Can't do anything until it's sorted though, so just hope it's 3-6months and not 2-4years 😂😂
Hopefully they will keep the market as updated as they can with any news ... but not sure we will hear anything until a yes or no tbh.
Good luck holders. I hope this comes out with a fresh start and a mcap in the millions 👍
The link is about Ludus
As well as a global gaming platform you can buy NFTs use the E-Wallet facility win financial rewards and provides other services.
Chris Akers was /is involved in Semper Fortis ESports, not this (as far as I know)
I think this Traf RTO could be quite interesting.
There's the obvious chance it could all fall through, there's a chance our share holding could be obliterated in the deal, but there's also the mouth-watering chance that if the Market accepts circa £3Mill intangible assets, and they carry debt forward as a tax loss, it could get fruity.
Since Traf has a MC of circa £300K, a new company with a market cap of circa £3Mill sounds rather good.
Whether this Traf management have the nous to pull it off and whether the market accepts it/ we get a fair share distribution, is another thing.
It’s the platform that’s the intangible asset not the games ! They are apparently in negotiations with leading software gaming companies and they give the impression it’s ready to launch .If the negotiations are successful then these will fly on the ipo date .If chris ackers really is involved, which i doubt as there is no proof, then who knows what the opening price will be! Let’s hope the negotiations are successful !
I hope they are doing deep dive due diligence - £1.26m debt with circa £4m attributed to intangible assets (the games) that are not on the market! We all know that there are thousands of games already available.
BC