Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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KBYK - it certainly does feel like Groundhog Day!
Interesting that ML/Raza now have £1.1m tied up in CLN's, and with the lower conversion price of 8.1p, this will potentially give them an additional 13.6m shares, taking them to c38% I think of the enlarged share capital if no one else converts. Edging ever closer to a takeover?
By the way, I wonder who the undisclosed subscribers - who've stumped up £590k of the £990k - are. It's hard to believe, with the large sums involved, that they're not connected with the company in some, possibly obscure, way.
dc2 - maybe agreement was close when the software contract was first mentioned. Then something or other happened to delay it....
I now just think it was unfortunate timing. They had no choice to report the contract slippage. My bigger beef is why they had to announce it as material in the first place. Surely no contract has merit until it is signed.
*Were they crying wolf last week, I wonder?*
Strange isn't it. In fact the whole thing is just odd. It's a kind of agonising, endless saga that never quite seems to get over the finish line one way or the other. Perhaps Raza is now caught in this strange never ending journey.
Still, the company lives to fight another day - or year at least.
Yes, what stands out is the timing. Were they crying wolf last week, I wonder?
On the face of it, today's announcement is a clear vote of confidence from the directors. Cynics would say, yes but it's in their interests to keep the company going, because that will ensure they can continue to draw their inflated salaries.
However, this is not true of Raza, who's put in another £100k. Then again, what is that to someone worth well over £50m?
Overall, though, I think today's RNS is good news. I'm surprised therefore to see that you can buy the shares today cheaper than you could yesterday. I don't think this will last. It could even double if the elusive software contract is landed.
That's how I read it.
Micro driving a hard bargain...
The odd thing is why they don't simple buy the company and have done with it. One can only assume that JFW won't sell for anything like a reasonable price.
This is good news but the timing.... all of that arranged within 5 working days of the profit warn over Easter. CLNs now with 50% extra interest and halve the conversion price (if I read it correctly). Don't get me wrong - it is better than going belly up.
Amazing.
A raise of some sort was inevitable, but it does sound like the music has started again. You have to hand it to the Trakm8 BOD, they have an uncanny ability to survive.
GLA
Seems there’s still mileage in the Tank
That is great news for ML; although it does make me wonder the point of Trakm8 (to ML) if they can deliver this contract including home deliveries (does that include optimisation) without them.
Good point about their presentation - hopefully some breadcrumbs for us.
As for the share price - my worry on that last RNS was it sounded like the end of the road - so as long as that doesn't happen I can live with the current price (for now). I am a little more bullish following Allenby - but need the contract to be signed very soon to stop me slipping back into despair (lol).
ML's SP has jumped today following its RNS re a AU$20m contract - good news for ML is indirectly good news for Trak of course.
Also, ML have confirmed that its audited results for 2023 will be issued on 9/4/24, together with a presentation to investors at 11am on the same day. The presentation may be worth watching for any clues about their intentions towards Trak.
It would be nice to think ML will at the same time take the bull by the horns and announce a takeover of Trak - at a decent price of course! But I suspect nothing will happen and nothing will be said, unless they are specifically asked to comment.
More likely is that the long-awaited contract will be landed by Trak, and the SP will drift back up a bit, perhaps as KBYK said to 14/15p, or a bit higher even depending on the size of the contract. But still not high enough to reverse (most) investors' losses...