Member Info for condao

I was thinking this was a pure cash play to get our 19p back before any potential reverse. However $190m of retained losses is worth a lot to any acquirer ! These tax benefits potentially double the value of the company from the 19p cash level.

I would guess the cash arb funds like Weiss will buy as many as they can and then force to board to give up and pay back the cash

The company should do a cash tender offer at 17p for those shareholders who want to exit and leave itself as a shell with 2p of cash (assuming a full take up) to allow it to continue to look for a RTO on Nasdaq. Shareholders should push for this.

Cash now is 19p. Shareholders should get busy to force the board to hand it back now.

That would be because AIM punters prefer cash strapped companies with no real hope rather than one with nearly double it's market cap in cash, 3 darts at billion dollar markets and a small free float !

Have a look at www.globality.com

Softbank have invested $100m to give them a valuation of $1bn.

Maistro is the UK version of Globality with a mcap of just £6m here and a free float of only about 20%

I presume word is getting out the valuation of Globality...…………...

Yes he still holds 20%. I'd expect him to inject at least 1m to keep the company going if the negotiations with the strategic investor take longer than expected. The long term investors have put too much into this to let it fail on lack of funds rather than the product failing as if the product gets final approval the market is worth billions.

Are you certain about this ? It makes more sense that the US Govt shutdown means a delay in approvals at worst not the shutting down of small bio companies. Maybe you just want the shares lower. They are trading at 6.5p in the US and I would have thought the investors over there know more about the implications of a Govt shutdown.

Also has anyone considered a foreign flag carrier like Qatar or Cathay as a potential bidder. They could use FLYB's well established domestic network to feed passengers into Manchester to connect to their existing flights. This could easily allow for expansion of long haul at Manchester which would be far cheaper to do than at LHR.

On the basis of Taylot's post about slots , which seems well thought out and researched, the worst case scenario for a bidder is to keep the lights on for 18 months, try not to lose too much money and then sell the slots and shut the rest down. Their profit would be 180m - c30m in losses - 50m for a 20p cash bid = £100m profit in 18 months for 80m of risk. The best case is a turnaround with management who learn from the mistakes of the past and they own a company worth 150m and bank the 180m from the slots.

It was the main reason behind BA taking over Aer Lingus although Willie Walsh would never admit to it !

Taylor - a very sensible post. What do you think of the Headforpoints article about the the LHR slots ? The article says that the slots are there's to use for any European or nr Europe route in 18 months. Is this correct ? If it is, what are the 6 pairs worth given that normal use slots at LHR sell for $75m a pair. 18 months is not a long time to wait if the pot of gold is huge.

Does this article say they are worth 88p ?

That is huge. Slots go for $75m a pair at LHR. These ones might not be worth as much given the geographical restrictions but still should be worth $300m in 18 months. Not a long time to wait for a bidder

Looks like Keith and the board have stolen this one at 1p especially if you compare to a similar placing at 5p in MPM - another Keith company.

Has anyone wondered why Robert Keith has paid 5p to keep the lights on here and only 1p to keep the lights on at MAIS ? Seems a bit fishy to me. Looks like he's stolen MAIS on the cheap

The management and Robert Keith have basically nicked half the other shareholders future returns by stumping up £2.2m and not really letting anyone else get involved. Although they are taking the **** it's quite a substantial amount of THEIR cash. So if you thought the business was worth 10p before they massaged it down to the 3p before the placing, then your new target is 5p - a very decent upside from here - just don't get too bitter about the extra profit Keith and the board are making!

Does that mean the slots can only be used for the type of flights that flybe operate?

Sell the LHR slots instead

Do BA just take em out for the LHR slots ?