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Sorry, it should read as 2.2m US Dollars instead of Pounds.
The RNS of 20/6/18 states that MPM has applied for the payment licence and the conditional capital requirement for that is 2.2m pounds ( 6b Kyat). 2.2m isn't the licence fee. Even if the licence isn't granted the company will still have £2.2m
On 26/7 Atlas received about 9.2m shares. By now they must have sold all. Their next conversion will be at 1.175p, therefore, the selling price will be going up. IMO
Any P.I present in the meeting, please update us if there was any other information disclosed.
Is anyone going to Dubai to attend the general meeting tomorrow? It's not only a YES or NO vote but a business update as well. Should be an interested day of trading tomorrow.
What could be the reason for lack of information? We all know that someone is building a stake. why should the BOD give more info about their business unless an offer is on the table. Once there is a concrete offer from someone, than the BOD can bring out all info about recent developments.IMO
This week the conversion price is 1.11p. As the company can't issue more shares before the YES vote on 30th July, Atlas can't do any more conversions this week. I am sure, Atlas will convert more bonds on Monday afternoon but they will have to pay 1.18p. IMO
Let me just clarify Imperium holding. They bought 30m at 1.60p on 18/4/2017, then 50m at .85p on 3/5/2017 ( as part of subscription) and 10m at 1.90p on the same day in the open market. Therefore, their average price is 1.217p for 90m holding. Whether they are still holding these shares or not has not been clarified by mysquar.
In that case mystery holders of 122m (14%) shares are over and above the stake held by S. Kumizawa. As Eric is still CEO and Chairman of Rising Dragon Holding and Rising Dragon Capital, he couldn't have issued those direction notices to these companies.
Hi Invest4theLT, KTS and Accuro are same company, holding 32m shares at present.(16th April RNS). If Atlas convert remaining bonds of £ 1.922m @ 1.11p they will receive about 173m shares. Therefore, 432m - 173m = 259m shares. Presuming there is a Yes vote on 30th, the company will have about 259m shares to play with. These shares can be issued in future for further acquisitions or raising funds.
I was thinking about that as well. What if it's a NO vote. IMO, the answer is, Atlas can still convert and the company will have to deliver the shares ( by buying them in the open market). Unless the company buy back bonds from Atlas by paying Cash value + 10%. Once Atlas send their bonds conversion notice, the co. can't turn back and say they will give cash + 10%.
Strange, Atlas only converted £100,000. Today is the last day to convert bonds at 1.08p. From Monday they they will have to pay 1.11 pence. There must be a hidden reason for doing this. May be they don't want to flood the market with extra shares at the moment.
Mystery holders of 122m shares have been buying since the price was 3p. Even if they had bought further 40 to 50m shares recently between 1.20p to 1.50p, their overall average price is about 2p.IMO
As I said before the company can issue about 58m shares now and after 30th July will have authority to issue about 490m shares. These shares will be issued whenever there is a need to issue them. They don't become part of the company's capitalisation straightaway We already know that they will be used for Atlas bonds conversions. They can be used for conversion of warrants, first at 1.86p and then at 3.15p and also for other purposes.
There will be a trading update as well on 30th July. On 11th Jan the company had 615m shares and an authorisation to issue 307.5m further shares. The company has already issued 249m new shares unto now and they can still issue about 58m more shares without shareholders authorisation. The company needs to be prepared to issue more shares in case Atlas decides to convert their bonds. Hence the authorisation from shareholders to issue 50% of the issued capital.(ie 864m shares)
Rita Nguyen. She is one of the founder of MYSQUR. The other two were Quynh Nguyen and Shashi Fernandaze. S from Shashi, QU from Quynh and R from Rita.
It's not always easy to raise money for AIM companies. MYSQ has done placing in July last year at 3.75p. At least issuing bonds is better than CLNs. We all know that AIM companies share price goes up and down & behave like a yoyo. For example:
COM (Redstone) was valued at £96m at 11p
Quindle (Watchstone) was valued at £ 2 Billion at £6
Tern was valued at £ 124m at 55p few days ago and now at £52m
We will see more conversions at this price before 20th July. Any conversions done after that will be at a different price (i.e may at a higher price)
Don't take any notice of TW followers. When they are writing their b/s here they don't use their brains. If the stock will be 0 by next Friday, then the biggest losers will be Atlas who have invested 2.2m and the stake builders of 122m shares. These institutional investors are not taking any notice of these s/bags so we should also ignore them.