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From what I have seen from this management team I am not expecting any sort of fund sourcing already prepared behind the scene's. I truly think they proabaly won't even start until after the EGM and have no real idea, I think they were betting on the grant. I give it 2-3 months and if they have not sourced a large amount of funds 4mil+ then they will go into adminstration, it's hard me me to say as I will lose a **** ton of money but right now based on track record of how they have managed being a public company I have almost run out of faith, there's just a little something inside that says please be wrong and hit a few quid Sp before the years out, and thats why I am not trying to offload my shares yet. Sorry to be party pooper. Just airing off my frustration with David and his team.
whats people views on the SP right now if its dropped this much on bad news, will drop to single figures in the raise? cash is going to run out quick, in a pickle myself whether to average down now or wait for another drop
thanks for explaining, so Dallo as a major invester would you for them increasing issues share capital upto that amount? Just seems a negative to me, but also understand they need an option to rasie some cash and keep the company going.
Noob question here: Can we openly discuss how we would vote in the EGm on this forum. I ask as I have some questions about the options, option 1 doesnt seem a good idea right, 100,000,000 new shares, so we qould get massivley diluted and SP would drop?
Got my proxy vote form in the post today
1.That the company's authtorised share capital be increased to NIS100,000 consisting of 100,000,000 ordianry shares, and the company articles of assocaition shall be ameneded to reflect such increase.
2. That the directors be authorised to allot shares or other equity securities for cash as if article 9.2 of the company's articles of assocaiation did not apply:
2.1 In connection with rights issues or similar offer; and
2.2 otherwise up to an aggregate nominial amount of NIS16,347.34
Points 3-7 are re-election of Directos
8. To adopt new amended articles of association
this was posted yesterday, I assume this is old news that was already in the prior RNS?
https://www.vanillaplus.com/2020/05/26/52795-second-design-contract-american-tier-1-oem-signed-ethernity/
Tracy, as I am relativley new to investing and the markets I was jsut reading the RNS, trying my best to undersand it (like reading japanese :) ), so all the options they list and want us to vote on, what is the current best option for us existing share holders, and if they option passes what happens to the value of our shares?