RE: Fundraising7 Jan 2019 20:58
Spike, I don't feel an offer has been made, or hasn't been made. I'm not inclined either way.
However, I do feel that the second postponement today indicates a change that they perhaps didn't expect to come up at this stage. Hence the late notice.
We know they have had 2 offers. They told us this.
We know they said they feel they can get more money after completing realignment with BHs etc
So if they have had 2 unsolicited offers already, why is it a stretch of the imagination that they have received a new offer, either from another source or an improved offer.
Unsolicited offer. So they weren't for sale.
Now they have practically put TI for sale in black and white.
So a bidder could have returned to say well it is for sale so how about this much.
They said 4 weeks for a binding offer. It's been 2 weeks already so clearly quite a lot of discussion already completed on terms of sale, value, etc
They told us 1 would pay just MTMY and 1 was prepared to pay MTMY and Rainmaker a split payment. Sounds like a simple solution to buying final 10% then making new % shareholdings, raising cash on LSE, then going ahead and selling.
If they could just sell directly now.
£500,000 of legal fees savings there.. Plus other fees, lse raising fees, etc
My opinion and welcome to discuss