Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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We are entitled to a TR1 but sadly not an explanation.
If the time to get things up and running in the new factory is 9 months from when a decision is taking then it’s looking like we’ve got months to wait until Rob Richards and his team can try and turn this company around.
Hopefully sales figures from Lindab and Metrotile are actually going well and will provide something positive for once.
"It acts on behalf of over 80 listed companies with market capitalizations up to £750 million and, on their behalf, is involved in transactions ranging from flotations, fundraisings, public takeovers, acquisitions, divestments and corporate reorganizations."
This means that I haven't got a clue.
Could be acting on behalf of one of the 80+ listed companies.
As part owners of the company, we are entitled to an explanation.
"Peel Hunt LLP is an investment bank that offers a wide range of business solutions to small and mid-cap investing institutions and companies. The firm provides corporate finance advice, research, sales trading, agency sales, market making and settlements. It acts on behalf of over 80 listed companies with market capitalizations up to £750 million and, on their behalf, is involved in transactions ranging from flotations, fundraisings, public takeovers, acquisitions, divestments and corporate reorganizations. It was formerly known as Peel Hunt Limited and changed its name to Peel Hunt LLP in December, 2010. Peel Hunt LLP was founded in 1989 and is based in London, United Kingdom."
Looks like I've been barking up the wrong tree. It is not the Peel Hunt Nominees sub.
I hope that they are stayers. They have obviously done their DD. Hoping that they like what they see going forward. The plot thickens. They are going green judging by what I've read on their website. Peel Hunt are heavily invested in PHE (hydrogen), amongst others.
Feel free to add anything worthwhile on Peel Hunt LLP. Have any of you got a list of their current holdings.
"Mario Bonaccorso, Managing Partner, SerendipEquity said. "We are delighted to have signed an MOU to work together with Verditek in harnessing this exciting technology and providing the funds that enable this product to become competitive in the mainstream PV market. Scaling production up, NZV and Verditek will transform the social, environmental, and economic outlook for the region in Southern Italy."
I would like SerendipEquity to put one of their team on the board of Verditek if this MOU is finalised. Also, tell us who this 20% investor is.
It’s happened before many times, and with Peel Hunt especially. Dubious way to operate but they’re in the City club so no one will ever look into it. They can delay the TR1 by 6 weeks I believe (happened with a small shell AIM outfit ITSARM) and totally designed to wrong foot pis and the market in general.
The BODs here are starting to look seriously questionable the way this is being handled so deliberately under cover.
Has the investor got through by the back door by using Peel Hunt as a front thus remaining anonymous? Might be totally wrong.
Any thoughts on why no TR1 yet?
Thanks for sharing yr musings.
Worth pointing out that only a year ago one of the Directors bought £300k at a price of 1.5p. He’s still a Director so presumably is confident this will turn round or he’d have got the hell out.
Firstly, sorry for your losses. secondly i'm only here out of curiosity as a friend of mine holds this & asked my view.
I don't really have one other than I don't trust the management and not a great shareholder list . I just wondered what people on here were saying. it sadly hasn't changed much since my last visit many moons ago.
Roger. Just one thing I wanted to point out. Before this placing I had heard a rumour that a well known investor / PM
had been shorting them. I don't know if there was a borrow available or sold short for a forward settlement date. yes that is possible through the right broker ! But if it's true it could be this savvy shorter then buying them back on this raise.
We will only find out when they announce who it was. He could be net long now & is just flipping out the balance.
Just me putting two & two together but a possibility. Good luck getting out above avg price.
But what? Sp being held for lots of small buys all at .5p
How long can that go on for? I’m assuming who ever the ‘strategic investor’ is will be holding on to their 111,111,111 shares for a while, or at least until the sp is back well above 1p
Are they going to announce more Director buys at this low price?
Something is going on here. If I had "spider senses" they would be tingling for sure.
Ha, not sure I tasted anything sweet with this latest pill…
As Mary Poppins says " a spoon full of sugar makes the medicine go down"
It does state in the RNS ‘ The Subscription Shares are not being made available to the public’ (which we know all too well!) but I think that’s not a guarantee they won’t then be sold into the market at the new lows. That’s my biggest fear but I can’t imagine that would make sense for who ever it was who threw in the £500k
Hmmm think that’s unlikely twink but you never know. I’d be happy just to see the sp recover back to above a penny
Obviously a place in this new giga factory has cost us dear but the key short term will be whether or not there are ongoing sales of vdtk panels with Lindab, Metrotile and who ever else may be acting as distributors. If we learn that all the sales agreements are still in place and there is a demand for vdtk panels then all will be wel…eventually! I do pray though that we get to see a TR1 and learn who the new investor is. I’m sure it will be NZV (or SerendipEquity) and that would be welcome news too. If it is them then I don’t expect they will be immediately selling their 111m shares whilst the sp is quite so low.
The placement, nevermind
Whats tomorrow?
Roger we will see tomorrow if Verditek "stuff our mouths with gold"
Trades at .4775 are just above the mid price so printed as buys but keep putting the sp back in the red. So are they buys or sells?
Dreading tomorrow. Could be new lows on the way.
I’m so deep in here I confess I’ve thrown even more in.
No idea if Wednesday will offer a small reprieve or trigger a capitulation.
I think things are going in the right direction but it really is speculation thanks to the lack of clarity in comms. Smoke and mirrors for sure but maybe the end result is going to be decent. Even if there was a short lived improvement that will help me recover so I’m overly hoping this eventually claws its way back to 1p
The share price is acting like some kind of open offer at .475p which is allowing existing shareholders the chance to buy at close to the placement price? We will have to see what happens on Wednesday morning.
Of course we are. 20% of the company snapped up at a bargain basement price by a single investor. It should really issued on Sept 8th but I have my doubts. This is a deal struck in the murky depths and I suspect the investor coughing up the £500k will be kept secret for as long as possible. I think the longest I’ve ever seen a TR1 be issued after an applicable trade is 6 weeks. Peel Hunt were involved. Say no more….
Are we entitled to a TR1 Roger?
Only buys today but the sp now resolutely not budging. Typical mms shenanigans. Drop it for the incoming ii and kick pis in the proverbials then rely on the pis to buy up all of the low value stock before allowing it back up again. Think this is now stick on .5p for a while.
"The fact remains however that someone has just bought 20% of the company for £500k. At a massive discount yes, but who in their right mind buys a large chunk of a company that’s about to go under? Why not wait for it to go under and if you really want it then buy it for peanuts once it’s been wound up and you end up owning all of it."
No worries Roger.
My theory is that SerendipEquity didn't want the hassle of taking over VDTK. Instead they would take 20% of the company at a very reasonable price after signing a non binding MOU with NZV (which SerendipEquity own). They will also get 50% of future profits with this new deal. Quids in without the hassle and complete risk. You also reduce the risk of losing the staff / knowledge if you waited until the company went under first.
I might be wrong and I'll look foolish if I am but this is my theory.
Maybe the deal was "I will invest 500K but I want 20% of the company" the share price would then be manufactured to fit the deal. Or as mentioned earlier the building in Sicily has come with a price, but that that price was worth paying? Until we know who the "investor with no name" is, all anyone can do is speculate. Tomorrow is going to be interesting.