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Baf3 - New investors need to stay away. Please tell me what has changed.
- The Company has raised £15 million before expenses through the sale of new ordinary shares at a price of 51 pence per share in an oversubscribed fundraising. At admission, the Company will have a total of 107,607,335 ordinary shares in issue.
Arnab Basu, CEO, commented: "We are delighted with our oversubscribed fundraising. After many years developing the business and our technology, Kromek is ready to begin harvesting value"
- Kromek, a radiation detection technology company focusing on the medical, security and nuclear markets, is pleased to today announce a conditional Firm Placing and Open Offer to raise up to £11.0 million before costs at the Offer Price of 25 pence per Ordinary Share;
"Kromek has made good progress this year, in which we achieved a lot of important operational targets, increasing our customer base and strengthening our relationship with our OEM partners. This fundraise underpins our plans to realise the value of our technology"
- Firm Placing and Open Offer to raise up to £21.0 million at the Offer Price of 20 pence per Ordinary Share
"The present fundraising will considerably strengthen our balance sheet, underpinning our plans for the sustained growth of the business and supporting increasing commercial activity through the deployment of our proprietary technology. Kromek has made good progress this year, in which we achieved a number of important operational targets, enlarging our customer base and strengthening our relationship with our OEM partners. This resulted in significant contract wins over the past 18 months which have given us forward visibility over revenues in excess of 85% of market expectations for the current year."
- Proposed conditional Firm Placing and Directors' Subscription to raise £10.0 million through the issue of 66,666,667 Placing Shares to new and existing institutional and other investors at 15 pence per Placing Share
"The net proceeds of the Transaction will be used to de-risk and commercialise bio-security/pathogen detectors and increase the rate of commercialisation, to expand sales and marketing for the Group's nuclear detection and medical imaging activities and to strengthen the balance sheet and provide the Group with flexibility to address and capitalise on the current and emerging opportunities"
If you have known this company a long time and think "this is it" you need your head checked
The last time there was an open offer was the covid detector placing.The share price help firm at 17-18p for a while and the open offer was15p so suckered quite a few of us in. Not sure why anyone would take part right now.
Truthfactoy -You can buy below the 5p placing open offer today on the open market.
For those who don't read the other shares forum. Post from "Quepassa" who has been calling this correctly for some time.
"1.
In my opinion this is a seriously worrying development.
No prospectus being issued due to time and cost considerations.
2.
A DEEPLY DISCOUNTED SHARE ISSUE (DISCOUNT OF 25.4%)
IT IS CLEAR WHEN AND WHY A COMPANY NORMALLY NEEDS TO ISSUE SHARES ON A DEEPLY DISCOUNTED BASIS.
3.
The conditionality of the Placing ON A REASONABLE ENDEAVOURS basis and the warranties and indemnities from The Company to the placing agent are to be noted.
Given the massive percentage of shares held by Private Investors through share-dealing platforms, there is clearly a concern whether enough shareholders will vote in favour to pass the required resolutions.
4.
Post 6719 refers. (As referenced above by Ark)
5.
"...and to strengthen the balance sheet to facilitate the restructuring of the Group's debt".
RESTRUCTURING OF GROUP DEBT.
"50-60% to strengthen the balance sheet to facilitate the restructuring of the Group's debt".
Sounds to me like they have fire under their feet on their debt pile and debt maturity profile.
yet more substantial dilution for long-suffering shareholders.
6.
One notes that the CEO has agreed to subscribe for £5,000 (five thousand pounds) of shares or 100,000 shares.
However, after resultant dilution the CEO's holding in the Company will further reduce from 0.69% to 0.52%.
One notes that The Chief Operating Officer is not participating.
7.
The announcement does not mention the current or future status of the Company's HSBC banking arrangements.
-----
One can but wonder to oneself how long another £6.5 - £7.5million (after expenses)will last given their high cash burn rate and massive salary payroll.
The gulf between the very upbeat tone of so many recent RNS's against today's RNS detailing an urgent need to raise yet more cash on a deeply-discounted basis is in my view absolutely staggering. And disgraceful.
ALL IMO. DYOR.
QP"
Why do they only release "good news" before they need a placing? Why does the "good news" never amount to anything and they end up needing anonther placing? This company is about as dodgy as it gets.
Mike are you joking? When KMK launched 10 years ago the share price was 51p and you think they’ve been shrewd?!
8p? ST was encouraging his newbie followers to buy in at 9-10p a mere few months ago.
"0956 GMT - Fresnillo's prospects are less negative than they were, UBS says, upgrading the Mexican silver miner to neutral from sell and its price target to 825 pence from 700p. The Swiss bank downgraded Fresnillo to sell in January as it believed market cost expectations for 2022 were too low and it thought 2023 production guidance could fall. Those negatives have largely played out and with the stock down about 20% in the last three months, risk-reward is more balanced, UBS says. Still, Fresnillo needs to show evidence of sustained operational improvement to instil confidence in its medium-term outlook, UBS says, adding that European rivals are more attractive and reiterating buy recommendations on Endeavour Mining and Centamin. Fresnillo shares rise 4% to 805p. (philip.waller@wsj.com)"
"See here we go again, nothing can be said with 100% confidence in life, even a very healthy person could drop dead tomorrow and yet $50 silver will happen with 100% certainty? Ridiculous assertion I'm afraid,"
You said here that it is not certain silver will hit $50 . I am saying it is 100% certain. It's just a matter of WHEN. If you dont understand it's 100% certain you are a fool.
Slater to say Silver might never hit $50 shows your ignorance in regards to how our financial systems and inflation work. Silver was $3.5 in 1993 and Gold was $250 in 2001. A FIVER used to be A lot of money now in some places can't even get you a pint. Silver will 100% hit $50 but the true question is WHEN. I think it's "soonish" (within 3 years) but i may be wrong on that front.
If you have heaps of pm miners you are about to make a fortune. This is it, Silver will never trade below $20 again and Gold will soon never trade under $2000 again. Just don't sell anything untill at least $3500 Gold and $50+ Silver. Look at the long term charts of both it's going to happen.
After watching Simon Thompson tip KMK time and time again when its clear the management are FOS (they won't even buy themselves) i have come to tthe conclusion he is a dodgy dude. If i had to guess he is getting paid to promote them and probaly making money pumping and dumping on the side. Look as last time he tipped. His followers bought it up to 10p then "someone" started dumping for a nice profit. Just my opinion.