Member Info for AndItsGone

In last week's IC it mentioned it should be a takeover target in normal times at this mcap..but it then went on to say all the obvious candidates to buy s4 wouldnt be interested at this point in time, and sorrell also wouldn't allow a low ball bid.

As far as I can tell no publically traded UK company in history has entered administration, and come back out of it and trading with its existing shareholders in tact.

This is 99.999% sure of being a total wipe out.

Usually I can avoid total wipe out as you get a bit more warning from the company.

Whats deceptive here is they reported as "trading in line with supportive lenders" only two days ago.

There was no mention of the legal action that would bankrupt just two days later.

Hopefully it gets looked into.

Can't see it. Cenergist makes up 90 plus % of group revenue and they are now in administration. Welltherm probably has some value, maybe a mill would be my guess.

But that wouldn't cover the debts of Cenergist and now you even have the administrators fees to pay on top of that

There was no hint on 7 July that they were within 48 hours of administration. They said trading in line with expectations - and that’s what makes this feel like a sucker punch —Even Simon Thompson of the IC issued a note on that saying hold.

I think every time I get the itch to stray from tracker funds again, I will try to remember the rogues of Eneraqua, and the protections and governance risk of AIM

I dont remember them flagging to investors at any point that they had a 1.2 million pound claim against them, and that if lost would result in bankruptcy. While I take responsibility for my own idiocy, the regulators should really look into why the first time this gets mentioned is during an Insolvency/bankruptcy RNS. UK aim really is stuffed full of garbage.

Its all over, Cenergist dominates the groups income. It cant come back from this. My first total wipe out. Looking into how to remove these from my account - Its too painful to be reminded of my own stupidity each day, about how I got sucked in by these charlatans

Not seen much like it before. Almost a 50% drop 9am, then climbs 50% over the course of the day. May well finish back where it started by 430pm. Madness.

Breathtaking poor governance during this fundraise is matched in magnitude only by sondrels woeful management of finances.

By leading us down the garden path before pulling the rug last minute on shareholders by delisting, means this price reaction was inevitable.

This is a total masterclass from ROX on how to take a company private on the cheap by wiping out existing hareholders. If it didn't lose me a lot of money I'd almost admire it.

Couldn't agree with more with your points 404 and Dave.

I'd also add this is a textbook example of how not to do a capital raise. I was quite happy to participate before todays RNS. But who is now going to subscirbe for more shares at a 60% premium for a security that will now be untradable for who knows how long, a decade plus, if they ever re list.

Talk about snatching defeat from the jaws of victory with this announcement.

If the government want to encourage more people to participate in capital markets to boost UK valuations, then companies that wipe 90% of shareholder value away within 18 months, and run, need to find it much harder to list here

Either crooks or imbeciles. How can you be moments away from getting a successful fundraise away at 10p, then pull the rug from under investors and delist saying its not worth it. Pathetic

Are any of you guys participating in the fundraise? A 3p ish discount to current price does not seem to me particularly attractive

Sadly i keep my videndum shares in my freetrade account, which confirmed they do not support any rights issues/open offers.

I didn't realise just how limited they are, and disappointed that I cannot take up my entitlements. That info may help any other naive freetrade users like myself.

Anyway my question is if anyone can help, has the dilution already occurred ? If it has I won't bother to sell.

But having read the timeline it looks like the new shares aren't admitted until dec 8th, so it would be in my interest to just sell and avoid the dilution.

I hope we dont see 8.50. My belief of a defensive sector, a PE of around 8 and a historically growing dividend now around 4%, how much cheaper can this really go?

I'd say hilton foods profit warning is the reason for the drop

Very happy to buy at 22. Dropped past covid lows. Business struggling to cope with demand, but I'm confident this turns around. Encouraged to see they are still investing for the future. And if I'm wrong, as taverham says, I would expect someone takes them out.

Wonder how Steve whitehead is feeling. I mean im sure he's got plenty of money, but nobody wants to see a few million go up in smoke...Can't now believe he let 8 million go for 1.22. It was that which made me wobble.
Good point IK, I had no idea that was the size of the short. This has the potential to go fairly big now.

I'm not selling but I'm also not buying.
I think the business is fairly good, but dire management.
I'm finding it hard to belive that a man as well connected in the city as whitehead, an ex high flying barclays investment banker, and board member of a multi billion company, couldn't refinance a loan and got a margin call.
He's sold 8 million at 1.22, and the lack of buys from anyone else, means as depressing as it is for me, this is probably fair value right now.

Surely surely you try anything to put a floor under this. An update on the chair, spin offs, strategy
or director buys, or even an intention of some buybacks.
When unilever hit the buffers over their GSK nonsense, management quickly communicated an update to their strategy. They didnt wait for the SP to drop 80 odd% or for their official trading update.
All weve had is whitehead sold 8 million quids worth at 1.22.

This is excruciating.
Think Steve called this write selling millions at 1.22.
If I don't see any director buys or news in the next week or so, I'll have to put this to experience and dump. Cant even sell any on a spike,this has plummeted on any sort of time frame you choose to use. The main lesson for me to take into the future is you have to really research management as much as the fundamentals. These guys are just so bad.
Never lost as much money as I have on this share, and that includes being in airlines during the pandemic!

IK,
I agree with asking questions and being frustrated. Terry Smith who holds unilever has spent the last couple weeks ****ging off their management, but hasn't sold.
This board has overseen the destruction of 85% of shareholders value. I'd worry about anyone who wasn't disillusioned with this level of management.
I'm holding as selling at this level (even with the board selling/not buying) imo would be wrong as it seems undervalued, and im already well down.
If I'm trying to stay positive, which is hard, then there are some potential catalysts coming up to drive this forward, so long as management doesn't mess that up as well.