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Well, if we're right and the £500k worth were forward sold then there could be another nasty drop due as who ever it was seeks to dump their remaining shares. If' they've forward sold most at a 100% profit ie when the sp was well above a penny then they won't mind if the last few million go at .25p so I think we've got a tough and frustrating autumn ahead of us.
I fail to see how the Directors can justify their salary increases when share holders have lost quite so much. It's a fine way to reward the loyalty of those who held through thick and thin. Can't use the word here on this bb that springs to mind to describe this lot. AIM is full of dirty and shameless con men but VDTK is one the very finest at getting money out of retail investors and then brazenly taking all of it for themselves whilst delivering zero in the way of sales figures or progress for the business or those holding stock. I would not be in the least bit surprised if the MOU comes to nothing and was in fact just a ruse to give the sp a nudge north as the forward selling was well underway.
Investors are fickle, yes. Fickle and obviously stupid as it happens time and time again. I hope a new Labour Govt would be brave enough to put an end to the current flouting of FSA rules by the iis. If the current Govt wishes to increase retail investment then it needs to create a healthier and more level playing field or else they'll get the opposite of what they want and that's everyone pulling their money out and investing in PBs instead.
I notice the directors remuneration rose two and a half times. Last year the annual report highlights the four directors earned more than £500,000 (excluding lunch and claret). Good to see some people are making money out of this monstrosity.
Can we get rid of all the directors not just the CEO.
Roger I share your frustration with the lack of sales news. The future of Verditeck is not in the hands of the BOD but in the hands of Roof tile group and Lindab. Fortunately these 2 companies have a wealth of experience in selling roofing products so the future does not look that bleak. Trust in the BOD is almost zero at the moment but investors can be very fickle and one piece of good news will change the mood dramatically. The upside at this share price is huge, however people are right to be cautious due to the lack of news.
*voting
Still no TR1
Strongly suggests this was all forward sold and it’s us existing pis who have been shafted by our own BODs in order to allow a ‘strategic investor’ to make an easy profit and secure their salaries for another 6 months
Trust now gone with this company. Always jam tomorrow. In fact they don’t even offer much in the way of jam. Bust by spring 2024 as they won’t get away with that again.
If you have shares then I recommend booting against Rob Richards being reappointed as CEO. He’s a disaster and does way too little work to deserve his salary
Absolutely. That will be an opportunity for the BODs to begin rebuilding some trust and credibiliy with existing share holders
I agree that it appears that the share price was manipulated to suit the placing. The 500k for 20% would have been agreed way before the announcement. We need some news on sales so that share price can move forward from here.
And don't forget the recent placing. The sp was merrily going along at about 1.7p for a couple of months and then at the end of June it suddenly started to drop, on no news. It quickly dropped to about .8p. We were then told of the placing at a discount of 40% but in truth I think that price of .45 was agreed back in June and the mms and Directors probably agreed to lower it so the discount of 75% didn't sound as brutal. From 1.7p all the way down to now I suspect the strategic investor was forward selling. Indeed this might be the reason why we've not seen a Tr1 - because the strategic investor has never actually properly owned over 3% of the shares in issue and managed to get enough away with forward selling at multiples of the current price. They will doubtless already be in plenty of profit and miles away from VDTK by now and have probably written off the rest of their investment knowing the BODs will again fail to make any significant progress.
As always when pondering on VDTK I hope I'm wrong but given their track record I doubt I am.
I have been on both sides of the fence over the last few years but after everything and the recent placing at .45 I'm mentally done in here. The treatment of existing share holders is nothing short of appalling. Is it any wonder they can't attract new investors when they say nothing even to those whom have stayed loyal. My patience has finally run out and I will await the first opportunity to get out of this, even if it means at a hefty loss. Can't sell now as I'm over £75k down with just over 7.5m shares. As soon as this has the smallest of spikes I'll be heading for the door. CEO more interested in sunning himself and living the dream (what ever that might entail...) in Thailand and probably puts in a couple of afternoons a month to try and get through to Metrotile and Lindab to see if there have been any sales. I'm uncertain as to where or not they are even selling to Lindab as there is no mention of them on the website so I'm assuming that relationship went up in smoke a while ago. I'm also assuming there has been no interim report because they haven't got anything positive to say and no sales or revenua to speak of. As the doom sayer sayeth....the end is nigh.
With Metrotile and Lindab on board there should be an air of optimism. They have both produced superb products and have spent a lot of time and effort bringing them to market. In spite of this I have turned really negative about this company. I hope I am wrong but something does not smell right here.
Just beggars belief how badly this investment has turned out to be. So much for investing in the future and renewables. Salaries are in the bank for another 6 months and then what? CEO in Thailand doesn’t have the time to say anything to the market or share holders. What should one believe? That things are happening in the background or just realise this is done?
Still no TR1 so who ever the ‘strategic investor’ was they must be hacked off to see they can’t even make any of their money back for the foreseeable, if ever. Rubbish. Just rubbish.
Well the BOD valued this company at 2.5M and the market seems to agree. No news on Metrotile yet? If only hot air had a value, I would be a rich man by now.
Verditek have never failed to disappoint me since I had the misfortune of purchasing my first block of shares in 2020. They always offer "jam Tomorrow" but never deliver. Not one trade so far today, The silence is deafening.
I tend to disagree. More a case of no money, not no news. Everyone’s been battered by the market of the last couple of years. Meanwhile the trajectory of VDTK is clear, with its potential upside and its risks. When the market turns and there’s more investable cash being released, there could be a lot incoming here.
Until there is some news on sales, there is nothing to invest in.
With almost zero liquidity now we cd be stuck at this level for months. This must have been a disastrous move for the strategic investor unless they’re intending to hold until there’s more positive news
Still no TR1. It’s outrageous how iis can circumnavigate the rules ordinary pis are told are central to the smooth and fair running of the stock market.
All a bit shabby from Verditek’s BODs. Again
Nah sorry. Don’t buy that either. There was always the chance the sp would really collapse much lower than .45p Whatever they put in they would have wanted to know as much as possible about future plans or else it’s a gamble with half a million quid. You’re suggesting they may have only wanted £250k at .45 and in order to get that they were willing to throw another £250k which they’d ‘hope’ to get back immediately?? Doesn’t make any sense to me.
Maybe the client wanted a lesser amount, but to get them at the discounted price had to buy more than they actually wanted. That would explain why they are reducing.
Would verdi have agreed to such a discount for only £250k for instance. I doubt PH advised the client. Just acting on behalf of. Bottom line is we don't know what the actual intentions of this investor are . With AIM stocks it's often a case of smoke & mirrors. Good luck to you.
Can’t imagine a private client being very happy if they’ve been persuaded by Peel Hunt to buy £500k worth of shares at .45p only for Peel Hunt to take months and months to sell them at between .47 and .48 plus the transaction fees.
Not persuaded by this scenario. Any savvy investor would not chuck half a million quid into a struggling company to try and make a profit of 2 or 3 % over several months, especially if there’s only an MOU in place ie no guarantee yet the company is going places.
Far more likely they’ve been in direct communication with VDTK and know exactly what’s in the pipeline. Still no guarantees of success but if they were convinced by Rob Richards that in 9 months time the factory will be up and running and they’ll increase sales in every territory and that the sp will get back to over a penny and they’lldouble their investment in about a year and be happy to hold, not dump every share they’ve only just bought.
It will be for a one of their private clients.
Are you sure it’s Peel Hunt?
Seems very odd for a market maker to buy quite so many shares where daily liquidity is almost zero. At this rate it could take them half a year or more and they’d most likely have to sell at a loss. The profit from transaction fees would be fairly negligible. Just doesn’t make sense imho
Roger they have already sold around 20 million. Unfortunately Peel are like a bucket shop market maker. You will see them increase or decrease their holdings. However their ultimate goal is to offload the lot.
?? Having just bought a 20% stake in VDTK at a whopping 40% discount why on Earth would they instantly look to shed a load of shares for slightly less money and well before any progress can have been made on the the MOU.
I’m more persuaded by the argument they will hold until the sp is back at 1.35p+ before Offloading a third and then put themselves on a free carry. Unless of course things really do start to hot up with Lindab and RTG sales. The sp was at 1.75p only three months ago and other than this placing and the dilution the company has actually only had positive news as far as I can tell. Wtfdik
Not the strategic investor I presumed. As on another bb 111 million shares place with 89 million left.
They will probably look to reduce that amount.