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on the news today .......... .......Chris Akers have increased the holding to 6.80% ( 30M shares ) from 5.66% on 21/03/2018. -------------- Akers has been increasing the stake lately to 25M shares and now 30M wonder what has hee has in mind, as CHA has only a couple weeks to get a reverse TO or delist Magic Media Works could be just right to reverse into
Buys and sells over the last few weeks. Time will tell if good or bad?
Like I have said a few times, this is a Hold for me, SP way too low for the company's valuation and consolidation will have no major effect IMO. Someone stated that all they do is spend our money, all I see them doing is investing.
Chris Akers has increased his share holding by 8 million shares taking his total to 24 million shares, and close to 6% of the company, must feel they are worth the support?
I feel the way forward in the long term is consolidation and a further share issue. I feel they have done a reasonable job with what little they have. Nothing yet to tempt me to sell and like I've said all those who are commenting on this board are in the minority. We shall see before the end on 2018 how right or wrong I am
This BOD just sucking up money ,and offer nothing for it now they want to consolidate the shares as they spent our cash ,and showed nothing ...
This happens very often ,especial to me it happens on ALO , suspended half the money had gone by then ,now I only have one third ,ok they trading buy still not good .So if I take at least half I can recover elsewhere ,but without that half I cannot do anything .And to me these guys here are just not worth it ...I took a big hit but glad I'm out ...
It kills me to sell at a loss(50%) but at least my holding was small. I had high hopes for this but with management now looking to reverse split just so that they can do a further share placing I can't keep my money here.
I took a hit and run ,this will be o my black list NOT to lock back again.....
Just a quick reality check on this one guys in my calculations approximately 75% on the stock is owned by a small number of individuals / investment companies. So it's the 25% of us that are moaning at the moment, I would worry if it was the other way, another reason why the MMS want our shares because they can do very little unless you sell in panic, anyone share that view. Supply and Demand, don't sell and give them nothing at this stage and this share will be true to the fundamentals imo.
The MMS can kiss my fat ass, I'm not selling until I'm ready and it's clear there's nothing to work with, we're a long way from that
All we need is good news ,not the ones that just getting the share price lower ..After all this time all they have to offer is consolidation ....What type of BOD would come up with something like this, when the share price is at the bottom....
You've totally got my thoughts on this. Big news coming.
Gut feeling is that MMS want you shares down to nothing ,look at the spread they are mad .I know they need to make money but this is way to much, sell at 0.37 buys at 0.45 ....
Don't ignore your gut feeling. Mine is telling me to hold, I may be deluded but I think there is something exciting a head and the current fundamentals are not bad. Most companies who have an SP of a fraction of 1p are not desirable to the serious investor. It is a gamble but I like the BOD and Nigel Wray is no fool and he remains heavily invested and our BOD are Directors at Magic keeping a close eye on the investment and timing, with a increase in funds they may even purchase Magic? He who dares ?
Interesting to see a Director increasing holding at reduced prices, dubious given we are in the run up to AGM. Good to see Chris Akers buying in, small � for him really but could provide a voice and challenge to the BOD if he is serious.
Now in, just need to wait a few days to be able to view them
Accounts are showing as overdue at companies house (year to 31 May 2017). It could just be companies house delays and losing post. I don't expect them to reveal much (mainly because it is old info).
I'm feeling they've a project they want to invest in. Something big is happening.
Im impressed with his buy at 0,38 .....
More alarming for me than the consolidation is the authority for the directors to allot new shares to anyone they like, at any price they like, up to a limit which is more than 100% of the existing share capital! I'm all for them doing an RTO or some other transaction which results in new shares being issued, but I want to be able to consider a specific proposal. I don't want to find I've been massively diluted for them to spend money on a lousy investment. Again.
There just hasn't been any return on the investment for years just slowing drifting lower and lower with one crazy rise when roxi was announced... Now this!
So annoying to read this and luckily sold out prior to this at a loss unfortunately.. The company needs to raise working capital but cannot unless the value of the shares are above 1p.. So they consolidate and then issue new shares to raise working capital.. Seen this so many times.. Look at SOLO for example - .30p before consolidation and now at .15p in old money after consolidation and dilution - 50% down!! In addition, the Company's directors consider that it is in the best interests of the Company's long term development as a listed company to have a smaller number of shares in issue, so that the Company's ordinary shares are traded in amounts of at least 1 penny (rather than fractions of a penny). Accordingly resolutions will be proposed at the AGM to seek approval for a share consolidation and subdivision which will result in YOLO shareholders receiving one new ordinary share of 0.01p each in YOLO ("New 0.01p Ordinary Share") in exchange for every ten existing ordinary shares of 1p each ("Existing Ordinary Shares"). Following completion of the share capital reorganisation, the total issued ordinary share capital of the Company will be 44,132,276 New 0.01p Ordinary Shares, each with voting rights.
Should have read - simply ignored AGM Oh well Cheers Guess i will hold for now
There was a RNS yesterday, many are wondering what impact this will have, personally I'm staying and backing, this holding getting its ass kicked, I will hold