Member Info for AIMing_high

ha - don't think they've ever felt the need to do that following an equity raise before!

now we just need for the warrants to be proven worthless and it will have been all round a success for WSG

Jimzi - the most obvious way it could reduce the sp is if WSG were involved in the wrong doings of SVS. i don't think they are, but that's one possibility.

don't see how SVS can now be out broker (obviously) so i expect an RNS to that effect p.d.q.

may well be. i thought it was a direct quote but it doesn't appear that PF ever says "accrued"....anyway, as i keep saying, should all be irreverent soon enough.

i was hoping that the capital raise would put a bit of floor on the share price until the Ghana contract, but this SVS news could swing it lower....let's hope it's totally unrelated to WSG and it's just a case of few holders having to become slightly longer term than they might otherwise have been.

The original RNS from the AGM stated that "Our revenues will commence once the final terms have been agreed and the formal contract finalised"

To me that means we are not receiving any revenues...note they do not say cash. if they said cash then i'd accept that we would be accruing revenues...plus PF confirmed that they were working for free until the contracts were finalised.

i could swear blind that one of the RNS mentioned that they would start to accrue revenues after the terms were finalised (which backs up the theory that we aren't getting any revenue yet) but just can't find it anywhere.

but as always, what difference does it make? the share price is going to be based on the length of the contract, not what has happened in the first few months

they tend to be over 400m long! to be honest though, with the current capacity it may be the case that a whole bunch of smaller ships get through container scanning just as fast as the larger ones.....so from a purely scanning perspective i have no idea if the larger ships are any more economical for WSG.

From Mike's tracking and my back of the fag packet calcs i got to not that far off 1m TEUs per year.....isn't that nearly what the new terminal capacity was said to be? so maybe there isn't a huge amount of room to process more containers (i.e. the larger ships would just spend much longer in port being unloaded)

they are big...but still pretty limited in TEU terms vs the new containers that the likes of CMA CGM and Maersk have - there are some out there with 20,000+ TEU. that's the kind of ship that this port has been built for.

but as i've said...it's all free scanning currently!

*couldn’t !!! :-)

Could agree more 3P - with regards to the two options

Foxy, you’d have to assume that an RNS isn’t far off....even if just to say the WSG now has a sole broker......plus all that guff about wishing the SVS team well

So I won’t be overly excited if I see a red dot tomorrow am

H&n: I take what you’re saying, but I kind of agree with DHC that you’re making an assumption.
The way I read it, WSG are in effect paying 1 warrant for every new share placed. It doesn’t say they’re paying it to the people buying the shares. It could easily be the payment to the broker for the service of finding the purchasers.

But time will tell, a couple of weeks and we should be arguing over what the price should be based on the known length of the contract and our assumptions over margin and share of fees....hopefully that argent is in the range of 50p to £1!!!

If you do know it’s astute then it’s not a guess.

DHC you can’t kniw if your guess is astute until after he event. ;-)

Afternoon H&N: may I ask what makes you so sure that the warrants went to the placees? They got shares at a below market price so it’s not like they need the extra incentive of the warrants.

My mate who used to work for an AIM broker/NOMAD says that generally the warrants could go anywhere, but most likely the broker.

I don’t know enough about warrants to know if they are transferable like shares

*SIPC

Isn’t the SCIP a US thing?

Also, that’s saying they don’t cover warrants in the event of making the client whole again. It doesn’t necessarily mean that the warrants stop being in existence. As long as they exist I would assume that WSG has to honour them.

DHC: I don’t think that’s how these things work. If SVS had shares in wSG they wouldn’t cease to exist they’d be assets that the administrators could sell to help pay off creditors. Suspect that Warrants are the same...and H&N may well be correct that the warrants went to the placees.

I think it’s fairly unimportant though. If we sign Tema then the sp rockets. This would hold it back a little bit due to dilution, but we’ll all still be laughing.

Are we sure the warrants went to the share purchasers? Aren’t they sometimes given to the broker as payment for sorting the raising?

Either way, I suspect they are very much still in existence , but as was pointed out they’re probably going to be tied up for a while as the administration process happens

Shermdog: if news comes next week then I doubt you’re stuffed. There may be a small fall back after an initial pop, but this should be a very profitable, long term contract and should make the sp totally rerate. So if your can’t sell for a few months hat may actually work out quite well for you.

h&n - what was your reasoning behind using Beaufot? (or others using SVS) rather than larger shops like the big banks or Hargreaves Lansdown? is it a cost thing? or did they offer more securities? just wondering what the little guys can offer that the more secure houses can't?

Thanks Qualia, always appreciate colour on what PF is saying.

Invest: please don't top up based on this! top up based on an assessment of the company outlook and potential vs the share price. You can't base it on an private email from the CEO to an unknown investor who then copy and pasted it on......i'm in no way saying that Qualia made this up or doctored it....but it would be ludicrously easy to do...you have to be more discerning or you'll lose out in the long run. don't believe what you read on this BB....and that's coming from a multimillionaire with 50 years of investing experience and 4 multinational businesses to my name who has a personal assurance from PF that the share price will hit £1 within 3 days of the Ghana RNS (get my point here??)