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they are indeed running low on cash and will indeed need to resolve this issue one way or another. I would not be surprised if there is a further issuance of securities as has been highlighted as a risk in their last annual report, in which h case ordinary shareholders could suffer significant dilution. But, I think the current share price is reflecting this risk. The questions are:
- at what price would they issue new shares?
- how much will they try to raise? (i.e. how many shares at price x?)
- will they raise in the interim to keep the company overheads covered (say £2-3m to cover a couple of years) or will they wait until confirmation that production is going ahead and wrap up overhead financing needs with required funding for production costs (which would be a significantly higher raise, but supported by future cash flows from production). I'm hoping that by the end of Q1 the progress with the Chinese will be so far advanced that it will be the latter. If the former then the dilution would probably be 10-15% based on the current share price.

10k is hardly significant but nonetheless encouraging. I would out another 10k into BB at these levels but am somewhat over exposed on them.

so we are still trading at more than 40% discount to NAV :(

What will it take for this to recover?

And any news on how the distribution from the sale will pan out?

Fair point Mitch, I hadn't considered that. We could do with some clarity from the board before long.

if they're spending 100k a month then they're down to about 7-800k now with another 7-8 months before they run dry so more cash will be needed to meet their obligations at some point . They must have something in mind for this. If a sale is on the cards then more reason to top up now. But if there is a cash call/dilution then this will keep the sp depressed. May explain the current share price.

Does anyone have views on the cash position of Zanaga. At the beginning of 2018 they had 3.7m. year end they were down to 1.95m. If there was a similar burn during 2019, then they will be low on cash now and will need to address this somehow.
I am tempted to load up and average down at this low price but the cash question is a concern.
Thoughts?

2 x granting of share options - 5m @ 2.5p and 5m @ 3p

Encouraging for the sp!

any reasoning for this?

Hi there can you please post the link to the news article / announcement that glencore are propane’s you sell their 51%

to the pre 18/12 RNS levels now. I believe we will see a nice constant improvement from hereon and with some positive announcements, the sky is the limit. All the bxtching on this forum since the 18th beggars belief.

“ the advertising group has agreed terms for gross media expenditure up to £10,000,000 per annum for the next two years."
Nothing about a framework agreement or revenue splits. This is spend by that group on media expenditure.

13 p close anyone?

Snaffle, does the article mention Allied?

you didn't bottle it yesterday, then just sit tight. If you try to get the FCA involved this will only damage the company and erode the share price further. Lose lose.

Fact is they have a great contract and a lot more to come in 2020. Patience is the key.

My only regret today is not selling the 100k I bought yesterday at 13.5, but I'm here for the long term.

Didn't see this RNS or price movement until 20 minutes ago. WOW! I agree with all that the timing of both RNS's stinks but am more than pleased with the recovery today. That said we are only at yesterday's levels. I added another 100k shares yesterday @ 7.3p, but my average is till in the mid 20's.

Despite the shenanigans of the BODs, I strongly believe in this company's future and it is a long term hold for me.

Yesterday's RNS clearly states that there will be new big contracts in Q1 & Q2 2020.

By then I think my paper loss will be a thing of the past.

There will inevitably be ups and downs, particularly with all the traders here. I anticipate a rerate to the 20's very soon however. This is big news and BIDS will be a monster one day and will make you all fortunes if you are patient.

12m traded so far and its only 11am. Half of yesterday's volume. Let's see how the day pans out.

GLA

It was the CEO nonetheless :) good news. We should see some recovery soon.

Has anyone on this board tried contacting JD to remind him about his Christmas Present promise?

Bunch of rampers on here who despite big words are selling before market close. Won't be hearing from you again. Bye

Wow what great news!! Wasn't expecting this! Looking g for a push towards 20p soon...

Allied Minds plc (LSE: ALM), the IP commercialisation company focused on early stage company development within the technology sector, announces that Mike Turner will step down as co-Chief Executive Officer (CEO) and from the Board effective 10 March 2020. Joe Pignato will continue in the role of CEO and executive director. Fritz Foley will also step down from the Board and the Board has appointed Mark Lerdal as a Non-Executive Director, in each case with immediate effect.

Allied Minds also announces further cost reduction activities, amendments to existing remuneration schemes for staff and management and an increase in the amount of proceeds from the recent disposal of Hawkeye 360 that will be returned to shareholders.

Overview

· Mike Turner to step down as CEO and from the Board effective as of 10 March 2020, allowing him to assist the Company with completing the implementation of the initiatives of our revised strategy announced earlier this year. The Board shall commence a search for an independent non-executive director to be appointed in his place.

· Fritz Foley steps down from the Board with immediate effect.

· The Board appoints Mark Lerdal as a Non-Executive Director with immediate effect; he shall serve as a member on each of the Remuneration, Nomination and Audit Committees of the Company.

· Harry Rein, the Senior Independent Non-Executive Director, shall chair the Company's Audit Committee in place of Mr. Foley.

· Jeff Rohr shall continue to serve as Chairman of the Board through the end of his second three-year term ending in June 2020, at which point he will retire from the Board.

· Additional initiatives in place to further reduce recurring HQ expenses to no more than $6.0 million commencing 1 January 2020, down from our previous guidance of $7.5 million.

· Return of $40 million of proceeds from the disposal of Hawkeye 360 as a result of the additional HQ savings, an increase from the initial amount of $32.8 million.

· Modifications to the Phantom Plan staff remuneration scheme, originally adopted in 2007, which include the establishment of a threshold that must be met before any future payments are made to participants under the plan.

· Amendments to executive director compensation plan, including reduction of maximum bonus, elimination of Management Incentive Plan and forfeiture of certain LTIP grants.



These measures reflect the evolving needs of Allied Minds and represent the next logical step for the business. The Board has decided to undertake these restructuring initiatives following constructive dialogue with investors and strong delivery of the strategy to focus exclusively on supporting the existing portfolio and maximising monetisation opportunities for portfolio company interests, which was launched in April.

big reduction in HQ costs, increased returns to shareholders from Hawkeye sale...and more...