Searcher28 Dec 2023 12:10
You do understand that polo have 3.5 million quid in loan notes to convert (already spent by gcm).
The original conversion price was 11p. That has been reduced with each placing so they're now convertible at 3.14p. It will be reduced further if there's another lower placing.
It also carries interest at 12% pa which has been accruing for several years now.
The whole mess will mean that Polo are owed more shares than those currently issued.
Also, should someone happen such as gcm going into administration, then Polo are the only first line creditor, and would be able to take gcm's assets as their settlement.
Bigger players know that's how it works, which is why bigger money isn't coming here.
Got this from ADVFN any thoughts. Searcher