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the bottom was 0.5 which was months ago...thats when i got in :)
People shouldnt try and day trade small cap AIM shares...someone bought 197,126 shares today at 0.87 then sold 3 hours later at 0.705....some people have no patience!
Thats why I said earlier this is a share that requires patience.
The BUYER (nothing to do with Mayne) paid about a 4.5% deposit (roughly £500k) but asked for an extension to the 31st March 2013. If they don't pay then UVEL will miss out on £10m and still owe Mayne $3.97m to be paid by 31st March 2014 now. Mayne have the option to convert the loan into a 40% interest into the shopping mall project or they can exchange the loan for a convetible bond at 4p. However Mayne dont have to do this. The whole reason the loan repayment was extended to 2014 is to allow UVEL more time to sell the mall at a price that will maximise value. That's why I think the sale will be delayed again....its all there in the RNS.
Calm down mate..ive been in here a longer than you...the chairman bought 500k but thats nothing new hes been buying for years. It could be at least a year before the shopping mall is sold
This is a share that requires patience...the value wont be realised until the shopping mall is sold and UVEL receive the cash.
Unfortunately with the last RNS I think the sale will take longer now....the loan deadline has been increased to March 2014 and Koo said this allows UVEL to not rush the sale. I think we will be waiting until 2014 now for the sale to go through.
This was always a lose lose share...the money from the VAT tribunal (which they look unlikely to win) does not cover their debt and they are loss making. Throwing money down the toilet this share.
The current market cap of just under £2m includes the company's current business and debt of £2.45m. Going by todays currency rate we will get £10.7m from the sale. Tax this at say 25% and that leaves £8.025m, then take off our debt and the £0.5m deposit leaves £5.075m CASH for Uvel. Current market cap of £2m plus the £5.075m gives us a market cap of just over £7m which gives a 1.75p Share Price. Obviously this all depends on the sale successfully going through but its worth the risk imo considering the return!
Nice to see small rise today...not long until the 22nd December now, lets hope the sale does go through then we will have the re-rating.
could not of put it better myself...any money in here has been lost by PIs
$4m in the bank..... €60m and €100m would need to be invested to bring a project to fruition - Chairman's words.
You should be banned from posting.
The true spread is less than that...not that it matters as theres so little shares in public hands a few trades move the price very quickly.
Bring the price down to raise cash? Mate its over here and has been for a while now.
Suspended from trading tomorrow...hope all u PIs realise this!
Nice to see the director buying more shares the other day and stating hes very confident of the sale...i think thats whats holding us back a bit..the fact that the sale wont be 100 percent complete until xmas.....happy to wait still uvel only valued at 2m pounds
Nothing wrong in top slicing mate...wish i did at 0.6ish now and bought in on the drop but wasnt to know the loan was going to take another 3 months,
So we have to wait an extra 3 months to pay back the loan...doesnt make much difference as that when we'll be receiving the cash (or other means) from the asset sale. Interesting to see the tax UVEL must pay must be quite high hence why they are trying to find the best way to receive the funds from the sale. Can't believe some just sold at 0.46..could of got 0.69 a week ago on the bid!
Correct..been a few buys today :) Doesn't take much volume to move the SP as we already know