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Has advised me that WGP do not have to Report today because they are a Standard rather than Premium listing on LSE and have opted out of many things as detailed on page 15 and 16 of the Prospectus. They will apparently "try" to do it within six months. He also tells me that they have the option to offer discounted shares in excess of 10% discount.
Just giving themselves as much time as possible to manage it. Their MO is to release bad news after close on a Friday so people have the weekend before they can act then before Monday opens, get a 7am Press Release on something else to try to deflect the Friday RNS. They did this when they announced that nothing was happening with OMT and announced the Chryson thing at the same time. Just a hunch.
I dunno why they dont just get them out there..... If they are so bad....another day or so makes no real difference
After close today or after close on Monday. Wondering if they will release tonight but then put another diferent positive RNS pre-open Monday.
Nothing showing yet !!
We might be holding our breath a long time on that one CP!
I believe an apology is in order regarding your vile comments( Feb 3rd) aimed at Inktomi who was trying to give new pi's a balanced view and perspective regarding WGP. I await.... CP.
Surely there should be some supervisory body to make a ruling on such a matter.
inktomi and all fellow shareholders. You have to look at para 13.6 of Part VII of the approved Prospectus (Additional Information) which is on page 148 of the Prospectus. The directors and others reached agreement with WGP prior to and for the purposes of the float to have their debts satisfied by the issue of 7% Convertible Loan Notes coupled with certain 'A' Warrants and 'B' Warrants. The Prospectus is absolutely clear on that and that the conversion price under the Loan Notes was to be the higher of the opening and closing price on the first day of trading, less 40%. The highest was the opening price of 210p. Therefore the conversion price was to be 126p. The £2.7m of debt referred to in paragraph 2 of the RNS dated 23 March 2012 is the SAME indebtedness that was supposed to be satisfied by the Convertible Loan Notes and Warrants. So why was this indebtedness satisfied by an extremely heavy dilution with shares at 17p and not by the agreed Loan Notes and Warrants with a conversion price of 126p ???? The 2009 Loan Notes are not relevant here and nor are the 2011 Loan Notes referred to in paragraph 3 of the RNS. Also, the RNS does not tell us at what price the shares referred to in paragraph 4 of the RNS were issued at, or their original value. You can't go out to the UKLA, The London Stock Exchange, the City and the general public on an agreed form of Prospectus, get your float and then just ignore something as fundamental as this........can you ????? Yes, the balance sheet is now free of that debt, but at what price to all the rest of us on a Takeover following such a heavy dilution ??
Various convertible loans were in the Annual Accounts and some additional ones appeared out of nowhere in 2009 without any corresponding balance sheet deposits (funds for the company to use). These loans were converted into shares at the time of the £300K draw down a few weeks back. A lot of disgruntled people about the dilution but I think the issue is less the dilution itself (because in theory the debt has been removed which would have liquidated first in a sale anyway) but more because the loans that are being converted seem a little [add your own phrase - i will say "creative"]. I suspect the loans will be justifed as "services we should have been paid £100ks for but we didn't charge the company for".
They weren't on LSE last year and the Frankfurt listing was not a heavily regulated exchange. Now they are on LSE Main Market, the regulations say 4 months or you get fined (unless you have special dispensation).
Didn't they release them in August last time?...could have a long time to wait!
Yep...the bet is there Blimey....you drive a hard bargain !
Fellow shareholders - can anyone explain the heavy dilution in favour of directors (RNS 23 March 2012) at 17p per share when the approved Prospectus for float detailed agreements for a much, much, much higher price per share for conversion of the same debt ????
I think they would be okay on the debt conversion as they will always have some level of inside knowledge converting at any time. I would be amazed if you see Annual Accounts for 2011 anytime before 5pm on 30th April. Bet you a Starbucks Flat White that revenue is well under £100K.
Youve got more near term news with GNG imho. A great opportunity at 52 wk low with only 38M shares in issue & 5 contracts currently being negotiated dyor & gl
On 23rd March Neil Riches etc awarded themselves millions of shares as a debt conversion issue. Given that they would have knowledge of unpublishes balance sheet figures, ....are they not " insiders".....? Also,.....they still have not published 31 Dec 2011 Accounts yet....
i was in this a short while ago at 36p and saw it drop and got out, too late in my opinion, but vaccated at 23p ish.....now looked to see it and its at 11p......lucky escape there me thinks. But is it still gonna drop? and is a low entry point beckoning? good luck everyone in this....
yup. still in and enjoying every minute :) I think the Chryson RNS is a little confusing, but there seems to be more to the deal than just the link up with saxo....couldn't they of done that without Chryson?. The RNS suggests taking part of Worldlink's business..."to create a new entity to operate alongside Chryson's established business". Also on Chryson's website it says, "keep up to date in real time with the Chryson live feed....coming soon" Which makes me think they might me doing something with iProMarkets....or something like that. Shame we haven't got more info about the JV.
Haven't seen you on for a while. Are you still in? Chryson aren't taking a mobile version off Worldlink so no licence. Chryson has white labelled Saxobank as the are FSA approved and WGP have done it as an Introducing Broker because they aren't (hence why is it all Saxo documentation when you sign up). The mobile both WGP and Chryson are using for Worldlink Brokers is Saxobank's own mobile. They should be the ones signing up to the licence (and what a great win that would be!!).
I don't really see that side of business adding significant value anyway. If it's doing well or not, it's only worth a relatively small amount. The only real way we are going to see 20-30p (8-12m mk cap) again is success with the licensing/patents. ...... it would be interesting to see what Bet Butler are paying for their license....and chryson???
I suspect it is because the revenue numbers will be poor and the longer they can wait without releasing bad news the better (or waiting for a good news RNS to be ready like a product release to come out at the same time). i-mobilemarkets, Jarvis, Ladbrokes etc have all had their first full years after bedding in so decent revenue should be present. I think they may will be well short of the £1m revenue mark and I have a slight feeling in my old bones it could be a disaster (i.e. less than £100K revenue). If its in the few £100Ks, fair play to WGP, they will have done well.
Well....they are certainly taking their time in producing the accounts ! It is extraordinary that such a tiny little business can need so long to ad up a few numbers.
That sell at 14.27 was mine from my stupid £4000 purchase months ago, if nothing else I have learnt a lot and definitely know now to thoroughly research before investing! I just had no faith in Worldlink and will aim to get my money back elsewhere - the more I read, the more concerned I became! Good luck to those of you still in this, I hope you get the rewards some day! Thanks to those of you that gave me advice and again good luck, the sleepless nights were not for me!