Member Info for Carrot13

Icecool a blames the board not the company and rightly so, a bad driver doesn’t make a bad car, but he simply doesn’t understand that if a car has been neglected for 10 years, driven into the ground, through some hedges and then crashed into a tree you can’t just replace the driver and it will be good as new, and you can’t just chuck a new board in here and say sorry to creditors. This company is in big trouble if Sidara doesn’t take it and inject a serious amount of cash. It’s Sidara or bust.

All this idiot ceo cares about is securing his salary for a few more years

I will take my 50% but I had hoped for a lot more however rollend decided he would rather dripsell the only meaningful asset for £10m over the next 2+ years

Roland has said a lot of things in interviews and RNS’ and he has little to show shareholders other than his salary and a few holidays to India.

If my net worth is £200,000 based on a house worth £190,000 and £10,000 cash I’m not worth £400,000 if I sell my house.

The value has just been put on it by Selan at 0.06-0.07p minus the risk and timeframe I mentioned which you may choose to accept but not sure why you are adding the market cap which is basically the cambay asset and paid for drills drills (and some worthless ccs stuff to) to the sale of said asset. You are counting the same thing twice.

Spartan why would you include the existing market cap when the offer is for the only asset they have?

Offloaded the shares I picked up at the end of April for an easy 50%, good luck to anyone waiting for this to go through for a bit more, I’d rather have the money whilst I’m still alive.

The offer is approx £10m / 15.6bn shares = 0.06-0.07p depending on currency xe minus whatever you want account for risk of not happening, timeframe it could take for goi appproval and timeframe for 2 payments etc

Not sure I’d include the £4m present mcap as that surely includes the asset which will be sold.

The FCA should be investigating Icecool for all the misinformation he’s been posting on here. So far he’s cost Luca £50k, James Oxford £20k, Robert £1,000 and lost 33p himself too.

Greggs is what you eat if you’re on a long car journey, flight, train, working in an unfamiliar office, out walking for the day etc and you want to avoid urgently needing a dump and getting caught short because of a greasy KFC, local kebab or some hot sauce. Otherwise there are far healthier, tastier, nicer alternatives. But it still makes up a significant customer base.

The 20% tariff is not the best but at least it removes a lot of uncertainty.

Ice just read the RNS’s, they tell you almost everything.

- Sidara, having had access to accounts, reviews and god knows what else and are potentially offering 35p a share on top of a much needed cash injection - once accounts are published (which should be fairly soon).

- The board have indicated they will support this offer.

- Lenders are happy to extend things until an offer is resolved, most likely on the basis of a significant cash injection to pay them once a deal is done.

- The reviews have suggested very poor and likely fraudulent accounting practices in the past which the FCA are investigating.

The unknowns are:

- Nobody knows if Sidara will wait for the FCA investigation to conclude before submitting their offer, or if they will certainly even make an offer at all.

- Nobody knows how creditors will react if a deal is not done or what pressure they will put on a deal being done (eg. They could indicate that if a deal is not done they will immediately call time on debts, or they could indicate they would be willing to engage in debt for equity etc)

One thing for certain though, the board is not being replaced, there is no mystery second or third bidder falling over themselves to get a ‘bargain’ and there is no chance these accounts are going to show the company is worth more than what Sidara have offered.

What disgruntled staff are saying amongst themselves and the rumours they tell once another is probably the furthest thing from reality. The board have got themselves another year, the AGM was only a couple of weeks ago. In the meantime everything possible will be swept under the rug and Sidara will buy this once accounts are published. You’ll either get 35p or less, those employees who have been vocally against upper management will get the boot first followed by those doing very little as part of the return to profitability. Icecool will be left looking the fool once again.

Agreed, I can’t see anyone coming in at the sort of number that Pentland would let it go for, which would likely be £2+ per share. I also can’t see shareholders letting it go for less than £1.50 a share to Pentland either. However I didn’t see 70p a share coming the other week either. A £1.20 bid would still be well received by me at the moment lol.

The last few months have just been a circle of Icecool saying the board will be replaced, people saying there won’t be another extension, then people saying the debts won’t be extended, then people saying Sidara will buy without accounts (or walk away without accounts). Followed by extensions of debts and bid until the accounts are published.

2025 financial calendar

May: FY25 results/Q126 update

July: Annual General Meeting

August: Q226 trading update

September: H126 results

November: Q326 trading update

Kando- Poundland was recently sold for £1. Chelsea FC was also sold for £1. I’m sure there are many other examples. Im also sure there are people out there who would have paid £1.50, £2, maybe even £1,000,000 - but it isn’t an auction. Sidara are already several steps ahead of anybody else on due diligence and legal, and the evidence shows that they seem in no rush at all, they are happy to wait for publication of accounts, and possibly longer until the FCA investigation concludes. There also seems to be no rush for a competing offer by anyone. Once again, realistic logic, what benefit would another party have in waiting to make a last minute surprise blind offer? It would make sense for them to come in now with interest in the same way Sidara did and get access to all of the information Sidara has had access to, to determine if in fact they would want to offer more.

One of the few things I agree with ice is that the board wanted to get this through ASAP before they were found out but it’s too late now.

However Sidara are most likely fully aware of everything including any skeletons that are about to come out the closet and I can certainly see a black hole of missing money appearing, which will soon make their offer very attractive. If they were going for a quick steal of the company at a bargain price, they would have surely wanted to do it very quickly before anyone else gets involved. Why would Sidara wait and risk competition from further bidders unless they feel that their offer is going to look even more attractive to shareholders once more information about the company is publicly available? I know a lot of people here are quite thick but you have to at least try and use some realistic logic here. As one of those thickos Robert has pointed out, the offer package is 85p- 35p to shareholders if they are lucky, and 50p a share to keep the company afloat that nobody will ever see other than creditors. Shareholders might see 35p if they keep everything crossed and the FCA doesn’t force this into administration once and for all. Imvho.