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It's starting to look as though there may be a problem with FCA approval that needs rectifying. My understanding was that the company's response to Bratt90's question was referring to the month in which the question was asked, namely March. We're now approaching the end of April.
Https://x.com/CriticalMinRes/status/1774363367169204615?s=20
I don't know how they could have done it but I do wonder if, given that Cropper was just a chancer with no mining expertise, the board somehow engineered his exit. I doubt they liked him owning such a large chunk of the business.
Sweepie/JR, I wonder how many small investors over the years you've put off buying in here. I'd bet money that it runs to three figures.
You just don't understand how the DA fund raise worked do you? DA decided they needed more money. They cast around to see who might be prepared to invest, alongside those who had already invetsed, including Tern. They asked Tern and Tern said 'oops, soz mate, piggy bank is empty'. So they put the word around... 10/11 pop their heads above the parapet and say 'hmmm yeah ok, but we want x amountof shares for the 7mil.'. DA think, fark, that's a bit cheap, and of course it dilutes our existing investors. Ogh well, sod it, we can do good things with that money and the return to everyone will be enhanced, diluted or not.'
Tern did not 'give away' anything. Or value DA at 25m anything.
I got this info from a helpful soul elsewhere:
Once FCA sign off prospectus and give green light to relist it should typically be around 2 weeks thereafter and no more than 4
Launch value is typically determined by info in prospectus and will look at financials of business if there are any of last couple of year and / or potential mkt opportunity of the business
Shares % allocation shud have already been announced at time of confirmation of rto target ie what % of the SPAC shareholding will make up the new rto target.
Still begs questions (like how long will the FCA take?) but some insight nonetheless. Anyway, we should find out soon.
.. all this goes according to plan and there's in indeed a successful RTO, can anyone please explain to me how it all works?
How long will it take after the initial announcement (forthcoming RNS) before shares are actually trading, and what's the procedure?
How is the initial share value arrived at?
How are shares allocated to existing DISH holders?
Please excuse my ignorance but I've not done this before.