The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
There is certainly plenty of money around, large sums of which will be used to invest in companies such as Dish, and other opportunities, whilst the value of the company has still to recover from Pre Covid levels. We were trading at 4.5p before lockdown, and although I have said before, it is important to remember we were gaining traction and the SP was rising at a a healthy pace. This recent drop was due to the Pouncer shareholders selling their shares imo, after all they are not invested in the company they just want their cash. Now those shares have been sold I would strongly expect the SP the return to where it was a few days back, 3p, before we receive any further news. I thought the most recent RNS was positive, unfortunately I don’t think all read into the RNS absorbing the information thoroughly. The following statement is very poignant ‘ As previously announced on 26 March 2020, the Company had engaged a boutique corporate advisory firm outside the UK with a successful track record in funding early stage consumer restaurant technology businesses . This was done with the intent of funding growth without the need for an equity placing. The Company has continued to pursue this over the past few months but acknowledges that a successful outcome may only be possible at such time when management can travel internationally.‘ .......... A successful outcome may only be possible at such time when management can travel internationally. ........ indicates to me the deal is done, finance has been agreed and the reason a successful outcome may only be possible once management can travel internationally tells me a few signatures are required to dot the i’s and cross the t’s. There may be others offering to lend money as Tanya has suggested, but only time will tell in regards to this. we saw Aidan and another director purchase shares at 3.6p just before we went into lockdown, they would have been in the knowledge that the finance talks were going well, very well I’d suggest. I am very relaxed about my holding here, we still have a long way to go before we reach pre covid levels but I expect us to get there in the near term and some once value is added to what the Tech Team have been working on these past 3 months and the Manchester Team pick up from where they left off. I am of the opinion we will see more than one RNS near term containing positive news.
Taken some time to absorb today’s RNS thoroughly. Doing so has confirmed my positive thoughts towards this share.
The £703’000 cash raised today was from ‘new’ shareholders.
Those shareholders would have carried out thorough due diligence before committing this sum of money, especially in the current climate. This is extremely positive.
Alternatively the ‘new’ shareholders are connected to NPH.
Worth thinking about .......... Good things coming imo !
There you go ...... £703’000 raised in Cash ! They didn’t hang about getting this raise through, deliberately imo, ahead of news next week.
Someone, or a group of people, are confident in the companies prospects ! ;-)
There are differing circumstances around a fundraise that need to be considered to decide whether it is good or bad news. The RNS was particularly well worded, ‘possible’ and ‘if’’ were used, there may not be a fundraise.
If there is one that is imo a positive as those in the know wouldn’t want to put more finds in if the result of the app trial wasn’t positive. We may also need additional funds for marketing and progressing the app further, this again would be a positive.
The RNS yesterday was deliberately geared to halt the progress of the SP imo, ask yourself why,
I would say it reasonable to expect a rally later in the day pre the strong possibility of an RNS first thing Monday morning.
If my suspicions are right, news is known and NPH have concluded the trail and would like the weekend to prepare and provide documentation
If we stop and think about the RNS yesterday and analyse it’s content it indicates positive news coming which will have a great impact on the SP. Why ? .......... Several things became obvious to me :
- the BOD are aware how the trail is going. We were originally expecting the result of the trial by the end of this week, today. The news will be positive otherwise those in the know would have been selling their shares into the rise yesterday.
Instead we saw a deliberate attend to halt the progress of the SP imo. Why ? ......... So those in the know can purchase more shares before the results are published as they know fine well the huge potential here.
There may not be a fundraise if you read how the sentence was phrased. Deliberate wording maybe to halt the SP so some can buy in the market before news.
I am of the opinion news will arrive early next week and it will be extremely positive.
Those selling their shares yesterday and today may just be passing them to those in the know before the fun really begins next week :-)
If you listen to the most recent Proactive Investor interview Guy states news of trial WITHIN 2 weeks ......... We are currently in the 2nd week of trialling. I reckon there may be very positive news about to arrive
Putting shares in the ‘bottom drawer’ is a term used for holders who do not envisage their shares to be worth selling for some time in the near future. The App is in its 2nd week of trialling. We know, due to the current circumstances, that we cannot afford to waste time and drag our heels with the App. There is a need for such an App globally for health reasons and economic reasons. We have been advised the trial period for the App is weeks, not months, and therefore news could drop anytime. I would have thought if not this week, certainly over the course of the next couple of weeks. If the news is positive there will be no need to put shares in the bottom drawer so to speak. Interesting RNS today. Creditors happy to except shares in lieu of payment. Hmmm, they must be confident in Catenae to settle existing liabilities in this manner. I am extremely hopeful of near term news, and positive news at that.
Shares don’t continuously rise in a straight line .......... This is still very cheap imo. Nowhere near trading at pre covid levels with just weeks before some pubs and restaurants are allowed to re-open. I expect a slow trickle upwards as we approach the date that the selective restaurants are allowed to re-open for ‘dine ins’. News will soon arrive that the Manchester team are out of furlough and they are able to show the market their skill set, this should add a bit more strength to the SP. Trading at 4.5p pre covid, and rising ! ....... We know Dish have been continuing to innovate during this period of lockdown and will look a different, much improved, company post lockdown. There is no reason why 4.5p shouldn’t be at the lower end of our expectations here near term, imo the SP would have been much higher if Covid-19 didn’t ‘temporarily’ halt its progress.
I assume Reece you think the same about Tesla. Tesla has had only a handful of quarterly profits in its 10 years as a public company and yet it has a MCap of over £164 Billion ............ I think investors here and over at Tesla have made a terrible mistake and should be listening to you ;-)
Good evening Hosai, you should receive paperwork through the post detailing the open offer. If you haven’t received in the coming week it would do no harm contacting your broker. It may be wise to weigh up the offer in your mind. Sometimes things appear initially to be a good offer, when thought through they may not be. I am not offering any advice and not qualified to do so. I am also no expert having made plenty of mistakes myself over the years I have been investing. Best of luck whatever you decide.
Certainly not ‘punt money’ placed end of play today. Interesting timing as the app has now completed its first week of trialling. I would hazard a guess that the trial is going well. Interesting times ahead I feel :-). A leak of positive news and this will fly ......... its coming !
I can’t believe what I have just read in the last RNS, the BOD are really taking the p##s out of existing shareholders here imo .............
(Assuming no other new ordinary shares are issued between now and AIM admission) ........ Geez, talk about rub salt in the wounds !
This entire fund raise stinks imo. If you notice Rob Pitcher and Mike Foster have purchased £50k worth each, Keith Edelman £25k and Will Tuffy £7k ..........
Rev didn’t need to raise funds imo as days previously they had secured additional finance support from NatWest.
This has been designed, imo, to benefit the BOD and the brokers, not the company or the existing shareholders.
Shareholders turned down an offer for the company of £2.00 some time ago I believe when the BOD wanted it accepted .......... Looks like today the BOD have had the last laugh.
I expect this will now become a fund raising company lining the pockets of the brokers, did you notice their fees for this raise £1.2 million. ........ Nice work if you can get it, and I’m sure it won’t be long before they recommend another raise to the Rev BOD so more ‘fees’ can be charged.
I am amazed how well the SP has held today. Clearly some haven’t done the math here.
Unfortunately Millionaire you may not have fully calculated the dilution here. There will be approx 125’017’495 shares in issue, as opposed to 50’000’000 pre the fund raise.
40-50p a share post fund raise is equivalent to a MCap of £50-62.5 million.
A MCap £50-62.5 Million pre this raise would have resulted in the SP being £1-£1.25 ................ It has been a while since Rev’s SP traded at £1 and above, and that was in a pre covid world, the new norm is going to look a lot different for a period of time, not for ever, but certainly for the foreseeable future.
A 40p SP yesterday, £20 million MCap, is unfortunately now equivalent to 16p a share
A 50p SP yesterday, £25 million MCap, is unfortunately now equivalent to 20p a share
Rev were trading 35p yesterday, £17.5 million MCap, now equivalent to 14p a share
I like the restaurant / bar sector presently as I believe there will be some good opportunities. However Existing shareholders have been turned over by the BOD here imo, and then rub their noses in it by stating the main move to Aim is because raising future funds is quicker and easier, disgusting action by the Rev Board imo.
It’s ok the government announcing the hospitality industry, bars for example, may be able to open this month, earlier than previously expected, but Rev will not want to open with the current 2m social distancing guide lines. It will be cheaper for Rev to delay opening until November 1st and keep their staff furloughed with the government paying the majority of their wage bill. I will be amazed to see Revolution Bars back up and running before 1st November, and it will be a positive and shrewd move by the company, but maybe not liked much by the traders / some pi’s here.
Aidan has recently spoken to in two separate Interviews in regards to raising further funds which will be used to grow the company.
One interview with Proactive Investor and the other more recent was with Tom Winnifrith of Share prophets ........ the later one you had to subscribe to at a cost of £9.99.
I did subscribe, even though I believe ALL existing shareholders should not have had to pay, but I’m glad I did.
I am not concerned in the slightest about the future funding that will be required. It has never been a secret and we should not be afraid of it. If it is used to grow the company it will add value.
Aidan recently purchased shares at 3.6p so the funding talks were clearly going well.
Aidan also stated in the share prophet interview there would be absolutely no way Dish will be going round the city with the begging bowl ........... if you watch the interview and read his body language this is no CEO trying to pull the wool over the eyes of shareholders, he meant it and has an air of confidence in regards to how the funding will unfold.
There is a new Tech fund particularly investing in the Restaurant sector .......... watch this space.
The app is being trialled this week. There was an indication that we will have the feedback from the trial in short time. I would expect us to hear from the company at some stage next week, if not an indication how the trial is progressing later this week.
Time is of the Essence. There will be no dragging heels here.
SP only dropped the day of the last RNS because of the position Spreadex had taken.
Nice start to the rebound today now that Spreadex have exited their position. Expect this rebound to continue over the next few sessions as we return to where we were on Friday.
We will then await feedback / results of the trial