REMINDER: Our user survey closes on Friday, please submit your responses 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.
They have taken the Michael for way too many years here, they deserve nothing, hopefully if they try to float again, people can warn others as to what happened to this company with the same directors!
They have a plan. They certainly do. The plan has always been to go bust at the right time so that the assets are sold off in a fire sale prepack and then, maybe they invest in the new business, get employed in the new business and share the profits (if any), when the positive news finally comes.
PI's have been buying up the secondhand shares voluntarily and the BOD can say without a word of a lie that they have never taken advantage of PI's when raising funds. They will claim that investing in VAL would have been a far too risky a proposition for PI's who don't have the appropriate knowledge and that is why they have always raised funds through commercial placings. This of course is disingenuous, if it is the case. The mountain of placement shares issues had to be sold on in the open market to someone and the price gained for sale plus fees commercial bodies received for funding the placings had to be more than was speculated to continue the rinse & recycle funding.
It took little more than strategically timed and vaguely optimistic RNS announcement plus a scurrilous bunch of rampers who fed to internet with dubious and optimistic 'news and leaks' for PI's to pile in. Once hooked, they commenced the long and painful 'averaging down' journey which symbiotically allowed the market to digest more and more shares issued through placing. This has gone on for year. THIS is ALL IN MY HUMBLE OPINION.
This is a business undertaking £18,000 a year, post grad research at PLC wages. There hasn't been a clear route to market and profitability ever and there still isn't.
All that is left, is the chance of gaining some satisfaction as some PI's decide to self immolate to gain some sense of satisfaction by taking the BOD down. By doing this they have unwittingly helped deliver what, IMHO, the board have wanted all along, a clean break from moaning, loss making PI's and a new debit free start with more funding and jam tomorrow for the new owners if they are lucky.
At least if the 1 for 125 deal had gone through there would have been the opportunity to gamble for a little longer but having cut the line of credit this particular casino table isn't taking anymore bets and there is no more chances to chase losses!
AIMHO and DYOR
Can they not buy the IP etc from a fireside sale. I am not familiar with the complications of buying assets from a Company in administration(if this does occur) but I have seen this happen on two occasions. To the best of my memory and IMO without being 100%, I think the two were Alizyme and ABH a few years back. I'm not saying that the same will happen here. My point is that there always seems to be somebody in the wings in these situations and very often they are familiar faces! All IMO and without making accusations of improper behaviour.
Yes but licenses etc Is the property of the company, not the directors, they would have to buy them like anybody else would!
blade, agreed. They have a plan and have probably had one for ages.
I see the share price is flying (the wrong way )
I see George has made a big effort to save the company.
Fred good lad!
They'll be hiding the product's IP'S/licences etc, so that they benefit when the company goes bust in a month.
The damage is done imo
Excellent and many thanks again Freddie/Valju. I'll look forward to seeing you both at the meeting; arranged either by the Board or ourselves.
probably to busy filling out their inflated expenses claims for the last meeting they didn't bother to turn up to!
The rules are that the board now have to organise a meeting. If they haven’t declared a date for it within 21 days of the notice (with the meeting to be held within 28 days), then the shareholders can organise the meeting and charge it to the company (although in that case the cost is then liable directly to the directors who failed to respond rather than from the company coffers).
The shareholders can organise the meeting for any time in the following three months at which time the right expires.