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I will NEVER forget or Forgive Sirius Minerals BUT this one has been long term for me and I believe, if all goes well , this will be a very good investment.
More information in case some are not up to date!!
https://investegate.co.uk/napster-group-plc--naps-/rns/proposed-disposal---proposed-delisting-from-aim/202112021314254074U/
Music streamer Napster converts loans into shares ahead of US move
Fri, 3rd Dec 2021 11:49
(Alliance News) - Napster Group PLC on Friday said it converted loans into shares, while its employee benefit trust subscribed for shares as well.
The shares were issued after Napster said Thursday it will delist from the AIM market in London and become a private US company called NM Inc.
Shares were down 12% at 0.35 pence each on Friday morning in London, having halved in value on Thursday.
The London-based music streaming platform formerly known as MelodyVR on Thursday said that since its reverse takeover of the Napster business in December of last year, its employees, consumers and other stakeholders now are predominantly in the US, with 42% of revenue generated in North America.
Napster has created Delaware-incorporated NM to buy Rhapsody, the subsidiary that holds almost all of its assets and liabilities, for USD45.6 million.
Existing shareholders will receive one NM share for each Napster share they hold following a 750-into-1 share consolidation.
It has called a general meeting for December 20 to approve the transaction, with shareholders representing 45.8% of the company already committing to vote in favour.
In the meantime, Napster on Friday said it received a conversation notice of exercise from Nice & Green SA for convertible loan notes it holds.
As a result, Napster converted the GBP2.0 million in loan notes into 200.0 million new ordinary shares.
Additionally, the company issued 8.3 million new ordinary shares to Davis Partnership LP in lieu of accrued interest of USD419,167 in accordance with a loan facility entered with Davis on April 1. The loan facility set out a prescribed price of 3.75p per share.
Meanwhile, the employer benefits trust subscribed for 248.0 million new ordinary.
The subscription by the trust will be used to put into effect a joint share ownership plan which was implemented to incentivise and retain key members of the executive management team.
"It is only appropriate that we seek to properly incentivise our management team in advance of both the launch of our new music platform and the strategy to secure a listing in the US. This step aligns management's interests with those of our shareholders and ensures appropriate focus on the creation of long-term equity value," Non-Executive Chair Simon Cole explained.
By Abby Amoakuh; abbyamoakuh@alliancenews.com
Copyright 2021 Alliance News Limited. All Rights Reserved.
https://www.youtube.com/watch?v=Uvufun6xer8
The Steve Zuckerberg interview and the future of the Metaverse explained and all the exciting tech. that will come.
Thank you AlbertPode.
Your comments are so accurate. All I am interested in is being positive about Napster as I am a serious, POSITIVE, investor!
Trolls will not side-track me from looking forward to the future.
https://youtu.be/Uvufun6xer8
I'll repeat this again for those doom-mongers, especially of the equine variety. A lot of work is yet to be done with the new app. For those that want to be positive about this Company, please watch this on youtube. The Metaverse exists on Vr headsets. I have Oculuis Go and I repeat how excited I am of the direction that this is all going.
MrH_m
12.50 to be exact!! This is why I invested in the Company (Melody). This is so exciting but we have to be patient!
I too am heavily invested in this company with thousands of shares at 11p. I even invested in a Oculus VR headset in order to make a valid assessment!!! If you really are that upset, I would suggest you pack your saddle bags and head off into the sunset!! I KNOW this company has a great future with the new app that is coming. Bye, bye.
Bye bye then!!
If it is curtains....we need to pull ourselves together!!
"Our growth plans are ambitious, but operationally realistic, and we are excited about the growth potential and value that we can create for the music industry and for our shareholders in the coming years.”
Keep the faith everyone!!(My opinion!)
Hi......Thanks for that great, positive response. It seems only those that have experience of the product, through Virtual Reality, know the true potential of Napster/Melody. As a investor from the start, I really trust that the Company will exploit the merger.
Again I ask, how many of the contributors on this site have Virtual Reality Headsets?? It's a totally different ball game. Melody VR will bring, eventually, a different aspect to music, theatre, even Cinema potentially! If you haven't watched a gig on a headset, I have Oculus, then give it a go. I purchased one when Melody was first introduced. Absolutely incredible. Especially now with the tie up with Napster, a lot should change!!
Having been Royally screwed with Sirius Minerals I still have faith in some shares that, on the surface, appear to be somewhat undervalued. Napster/Melody shares are one of those. Has anyone of the commentators on this site actually owned a VR headset?? I bought the Oculus Go on it's appearance in this country. In fact I bought one from the USA via Amazon.(Particularly for the Melody App.) It is truly amazing and it is though you are actually there at the venue with a choice of visual spots. Much, much less expensive than going to the gig!! As the headsets improve, the watching of live events can only get better. Go on, try one and your faith in Napster and Melody will be renewed. This is, of course, MY opinion.
I too stand to lose all my pension pot that was supposed to go towards my daughters' Uni fees and my old age!
Yes, I understood the rules of investing BUT, this project was SOLD by Chris Fraser as a worthwhile project and a long term investment for the "little guys"....... I have voted NO.
Excellent,positive article. SHOULD be read by everyone on here!!
Why the h**l are these doom-mongers spouting all this cr*p. The mine is in no danger and is well under construction. Go on their website!! This will be a £1 -£2 share within 2-3 years.Mark my words... Now breathe..........