RE: Sticking to the facts11 Mar 2024 20:16
I like this discourse James.
Do you agree with these statements.
Adam/wise
GCM has MASSIVE upside if everything falls into place. - YES, and a lot of it is already in place.
Tang is a highly suspicious character given his absolute disregard to polo share holders (took Polo private and has not uttered a word since). - YES, i wouldn’t want to be a Polo holder and would share the same feelings towards him, however if this comes off there’s every chance you guys have the funds to maintain a listing and find a suitable Nomad (no news is sometimes good news, we’ve had our fair share of lulls in news flow here). I know it’s not nice hearing it but maintaining multiple LSE listings is expensive and Polo was used as a pawn piece for the real prize in GCM, there’s a reason Polo was registered in the British Virgin Islands and GCM is a London listed company.
A potential reason Tang has kept this on the stock exchange is to raise funds as and when he as needed the cash. UNLIKELY - raise funds for what exactly? His wage? He hasn’t taken a wage in over 3 years and has invested via Polo a significant amount of money. Searcher pointed out Gary said funding isn’t an issue going forward as they have people lined up already if needs be.
Tang could take this private when he wants. - If you’re referring to intentionally setting us up for a fall I DISAGREE - he could’ve done this a number of ways (not submit year end accounts for example - instead providing the best update we’ve ever had) over a number of years, we have a clear timeline…project proposals to go across Q1 2024 that’s weeks away if they’re not already on Hasina desk already (I believe todays rns re funds available by PC was a prerequisite of gaining approval).
China buys the licences off GCM - AGREE - If this happens, it happens after approval when every chance the SP is in triple figures (which would still only value us at around 350m - we have a hundred billion $ asset, so expect the offer to be multiples of the triple digit SP).
Fair?