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its just timing, the cash update is expected soon until its unlikely to move anywhere
Unlikely to see any update from the CEO today, most likely going to be Monday now. Given he only started on Tuesday this week seems reasonable IMO. Hopefully he's made some good progress this week with the Board to update up next.
Along with a cash update, they'll probably need some cash headroom for payroll next week so funding should have landed by Monday at the latest one would of thought.
Wonder why we've not seen any director purchases come through yet - seems very strange IMO
Wildfred - you must ask this question at least twice a day
that was in January , funding today is £6m which I've not seen anything on yet
If you value the business based on cash then £6m / 166m shares comes to 3.6p
issue of £6m loan note per the RNS is today and therefore cash should follow over the next couple days if not today. we should see an RNS soon just like we did back in January
once yesterdays buyers exit, this will move up for sure
Highly unlikely to delist but there is a board meeting to discuss which is on the 20 May. The rise today is likely to be because of the £6m cash coming in
whatever way you look at it its pretty much guaranteed cash that will come in at some point and if need they need it they will draw down on it.
If you value the business based on cash then £6m / 166m shares comes to 3.6p in the short term?
as per RNS Yesterday " a tranche of £6,000,000 principal amount of Loan Notes (the "Additional A Notes") to be issued to Gatemore Investment Partners I LP , Lansdowne and MNL (Hambro Perks) Nominees Limited ("Hambro Perks") (the "Additional A Note Purchasers") on or around 21 April 2022"
where is the term sheet?
the share isn't going to move much now until the CEO speaks out IMO
yesterday's RNS SAYS "Pursuant to the Amended and Restated Note Purchase Agreement it is proposed that the Company cancels the admission to trading on AIM of the ordinary shares of the Company. The Company will seek the approval of the shareholders for the delisting in accordance with Rule 41 of the AIM Rules for Companies."
The key word being 'proposed' which means "put forward (a plan or suggestion) for consideration by others"
they've valued the delisted share at 0.08p so it cant really go any lower than what it is now so one would think its the right time for directors
given we've reach almost a penny, i think we will see some director purchases coming through soon if they are going to buy any.
On the other hand if there is a deal or anything happening in the background then they'll be in a closed period and wont be able to purchase/sell anything
just to add to my post. personally think that the new New CEO can restructure this business easily with £10m of financing with his credibility but has access to £20m which is an added bonus IMO. It's a shame that it has come with a claws to delist the company but I do think once the restructure kicks in and the business does turn around it will be sold off privately and that's where the shareholders that don't sell out will make their money. Time will tell. DYOR as usual.
most people selling are most likely selling at a loss now, I doubt any bounce back will come before the 20th May (hopefully I'm wrong) and if so at most 2-3p
not to be negative but anyone now purchasing shares should have the intention that they will hold till after its delisted and hope they can get 10p price at some point in the future. (I hold 2million shares and have no intension of selling them unless I'm offered 10p). Clearly the company values the shares at that price hence offering 0.008 per share plus 0.092 deferred share value.
short term investors IMO this one isn't for you
Have to be honest, I was expecting a lot (A LOT LOT) more sells than Buy's today but looks like buys are over 50% than sells.