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This is what the RNS said today.......
"The issuance of the Riverfort Shares will settle the full outstanding balance on the Riverfort Facility. As noted in Sareum's announcement of 28 March 2024, the Company does not intend to make any further withdrawals pursuant to the Riverfort Facility and accordingly the Company will not be issuing any further Subscription Shares pursuant to the Riverfort Facility."
Nicely. resistance is futile!
Quite a few large transactions so far today. Hopefully, RF will get their final tranche this week and we can then be rid of them from a debt situation but they will have surplus shares and warrants.
Yes, people who are pathetically unfunny.
Please let's keep the board relevant as the recovery continues.
No mention of settling in cash this time.
They remind me of the herpes virus. Always ready to make an unwelcome appearance when it senses a weakness (red).
The absolute farce around Thx has done most of the damage IMO. No fees, no visible progress and a feeling that we're not getting the truth. What a mess but something will have to give soon. Apart from fiery Fred, many posters seem to have given up, judging by the lack of posting or trading.
And good to know that there is absolutely no need to issue a speeding ticket under any circumstances.
Interesting reaction on this BB and in the market to the issue of the shares today compared with the outrage of last week even though more were issued this time. Maybe it's because the exit of RF is in sight.
I will. Have no doubts about that.
They don't need anymore. Fully funded. At least there's some excitement over there, not like this dead, moribund dog of a share which is going nowhere ever.
LOL! You've been joining the dots for about 15 years! The only winner here is Ian Ford.
I did follow it with a question mark!
Nobody in their right mind is buying shares in this dog.
I have no intention of putting any money in Val at any price.
Cheap shot at Sareum by the way.
Obviously based on bitterness and anger!
This company seems to have gone dormant whilst a replacement (good luck with that!) is found for the current incumbent. I do wonder whether there are other plans being drawn up as the major shareholders can't be happy with the status quo.
Looks like the Thx deal was a bad idea and seems to have come to nothing. That needs clarification without further delay.
Basil, I think LAZ's posting at 11:28 far better explains the overall situation than ever I could! I'm sure you've read it.
I see that your posting has 38 likes which, IMHO, is extremely generous.
Most of the 8 points you made refer to your own investment strategy and a rehash of the consolidations and the collapse of the share price etc and what a pity it was that you never cashed in etc. Yes, we are ALL unhappy about the SP decline and have regrets about not selling etc.
In point one, you comment on why "loyal private shareholders" were not invited to the party. If you were in Tim or John's shoes, would you feel that there was such a group? If they read this and other forums they would not get a warm feeling and I doubt whether the in-box has much bonhomie in it either. They probably decided to pitch the retail offer at £300k to test the water in the knowledge that they would likely not be embarrassed by an under subscription had they initially pitched it higher (which would have been a disaster). They then instruct their agents to find a platform and WRAP was chosen. As the amount of the placing was so small, I suspect WRAP used their usual clients ,of which my broker Interactive Investor was one but yours obviously was not. By the time the BOD were advised of the unexpected over subscription, it was too late to reach out to other intermediaries.
That's my take and IMO.
Still confused about your and you're. Oh dear, oh dear 😳
Trader. Good points.
I think, certainly in my case, part of the problem is a lack of understanding as to when RF will actually stop getting issued shares .
The mention of which sends a shiver of fear down the spine.
But one day they will be gone and with them their toxic legacy on this share.
From a sentiment and logical angle, why don't the BOD pay them off and have done with them for ever?
The resultant increase in the SP would be significant and I think the majority of shareholders would subscribe to a placing to get them off our backs.
I do think part of the problem is the complexity of the arrangement which few understand. Did Tim and John grasp it or is the science a piece of cake compared to this terrible financial deal?
Trader, yes, we have to just let RF burn their way out and be gone. Nothing anyone can do.
Too much catastrophizing atm.