Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
They are not obligated to release any further TR-1 once they go under 3%. However they MAY release that they 'no longer have a viable holding.' It remains at their discretion. The market will assume that anything under 3% is insignificant. This case is slightly different as the market will want reassurance they are of the books totally. It was good of EGHOS to detail they were under 3% since they were not obligated to even do that.
By my calculation (from yesterday's post) it means another 498,743,960 further shares have been sold by EGHOS (average weighting) since last announcement (Nov 10th). This would mean a further 421,256,040 to go, or in other words all done by TOMORROW. Both the above add up to 920,000,000.
They have either completely sold, or are near done. Whichever 2.95% is insignificant, but that there name is on the registrar is what concerns potential buyers. Watch for the clues.
Guys did a quick calculation on this. I am always looking for potential targets.
EHGOS SELLING
Oct 9th it was reported they had 6,655,555,554 shares remaining.
Nov 10th it was reported they had 920,000,000 shares left.
That’s means 5,735,555,554 shares have been sold over that period.
This would equate to 249,371,980 approx sold every trading day average (23 trading days between both Tr-1 notifications).
Given they have 920,000,000 to sell and given they are selling at an average 249,371,980 per day, it can estimated that they will be done (if it is a worry to some that they need to see EGHOS completely out before believing) another 3.68 days. This would be then either Friday or Monday coming.
The trading and chart will be the clues
thanks my friend I will do as soon as I can. thank you.
Neilin Top man. Thanks for that. Hopefully this will not play out on the subs bench for much longer.
After 387 days since suspension, two autumns, a winter, spring and summer, one national lockdown, one election, and many other personal and world events,
new tomorrow?
https://www.bloomberg.com/news/articles/2020-10-24/coca-cola-european-said-in-talks-to-acquire-coca-cola-amatil
Coca-Cola European Partners Plc, the world’s largest independent bottler of the storied soft drink, is in talks to acquire Coca-Cola Amatil Ltd. to expand in Asia Pacific, according to people familiar with the matter.
The talks underscore how soft drink bottlers are under pressure to consolidate as the popularity of sugary drinks declines.
**Good for BERM as their potential markets shows they are increasing.
To be fair wkworld I am involved in another RTO which announced a suspension back in May 2020 and could be back within a few weeks. Target was announced and the directors do not want fees they are owed but rather want stock. One of them has even forwarded a £100000 loan which is interest free and also wants it back as stock. I think they are hinting what will happen hence why stock over fees and loans. This is an example of excellent communication. Here it is saying avoid the brokers and nomads involved with a barge pole in the future in a similar situation.
As it stands this is supposed to be an investment and investments are supposed to grow and give reason not to sell too early. If the people involved cannot do the obvious and we have all been patient then yes they should come clean. With the money I invested here I would have been minimum 20 bags higher by now elsewhere, if not even higher. That is what is annoying and biting at me, and will not come back. So if this comes back at the same price as the suspension then it means its failed.
Honestly if this was back and 20 bagged it will be like " well I suppose that's kind of acceptable" because anything less than that is a failure given the time taken loss of ISA status, and also many lost opportunities giving first loyalty to this shower.
Marko all wrong,
Congratulations are in order. One year suspended is not something to just brush under the carpet and the suspension continues. Its a great achievement in a time when healthcare companies have been multi-bagging. They have decimated the holders of ISAs which is another major achievement. Lost opportunities elsewhere, what more can a holder of BOU ask for? If you see a small magician offering magic beans and name sounds like something in a countdown conundrum avoid them. For they speaketh from their secondary orifice!
Repeating My Daily Mantra:The news was vague again, but promised'exciting' then the next day there was a game of musical chairs where they all ended up in the same house! People coming people going, but what was the link? was there a link? The only link being a piece of paper which was signed by Ali Baba? Not sure about the Baba as it was very worn. Baja? no idea will keep testing till I get a solution. So I Detect, there is a link, but I will wait, and keep Repeating My Daily Mantra.
Meter is ticking
** maybe helpful to others**
In the 18 months from June 19th 2019, additional consideration could be due if photonstar is disposed off or listed. That will be 50% of additional proceed minus costs for professional fees paid to BOU.
We also get a settlement agreement of 50% research and development tax credits, if Photonstar Technology receives it. As of Dec 2019 the loss was recorded as £832000.
They had 8 board meetings through 2019, with the aim of keeping costs down. In 2019 the following:
Allan Syms got paid £18k
John Treacey £28k
Martin Lampshire £20k
John Freeman £24k (he got £51k in the year 2018)
£3k was social security costs.
Cost of staffing in 2019 was £93k
They spent £275k as an expense on the proposed transaction for the identified target company.
Charges related to Photonstar was £201k in 2019, (£44k for VAT impairment charge, £157k intercompany loans within Photonstar).
In 2018 they had £2k in the bank and at the end of 2019 they had £378k. They raised £1.2m during 2019. This means £828k has been used up on various issues during 2019 including the target RTO costs involved.
"Management is optimistic that the Proposed Transaction and associated placing will complete"
Almaretta Pty Ltd (a company controlled by the family of Mr Nealon) has agreed to provide a $100,000 working capital facility; and
-- Management has successfully raised money in the past.
This is as good as done, but its a game of patience now. Within the coming weeks is acceptable.
If it ever got to that price (1p)then I will be adding significantly. Fiandp88 too many people make decisions repeating the same set of conditions. The outcomes are always the same, the behavioural patterns always the same, the end game is blamed on others. "1p I think" is in YOUR head cashers, and "I can't see solvency till summer 20212 is AGAIN in YOUR head cashers. Its safer there while some of us are not swayed by irrational fear.
Fiandp88
It could not have been put any better. Its been a long wait to find a potential decent investment and there are a few out there if one looks. I actually want this not to go up and I wanted to add! and yet sadly I will not get cash across quick enough to do that, but will add no matter on the way up to a certain cut off point. Results today cleared a lot of legacy issues out and I am certainly with you that once this selling is done the price will shift pretty quick into a new range. People have to understand that when you have gone through the pain 7dig have then to win new business you will need to be a bit compromising on new contracts to gain the confidence and build a book. Margins initially may not be excellent but its about building the name and interest. I observed another company last year doing exactly this and was written off by many but spiked 12 times higher cleaned out a disastrous debt position and is now on the road to profit. I missed it because a lot of cash is locked in three RTOs but not going to make the same mistake with 7dig. People can sell if they want and wish you all the best but sticking around for a while yet.
All I find is the following:
3rd September 2020
The Directors expect to announce a platform/licensing contract with in-home cycling providers and have a pipeline of potential ADDITIONAL HIGH-PROFILE GLOBAL COMPANIES.
3rd September 2020
The proceeds not only secure the future of 7digital but also set the business up for a sustained period of growth, building on OUR LEADING GLOBAL POSITION in the expanding market of B2B music streaming."
My grammar this morning is bad! Apologies.
Patience is needed but I cannot see this being less than double what is now by the end of the year now that it’s a given the company is entered or is entering profit. That's the minimum requirement.
Maidit308 good post.
The sellers we have seen could be they are anticipating a fall and want to add back on the drop. OK but if the market is already aware that the results are technically a legacy now it’s now what we have going forward. The guys have as you pointed out last made £7m worth of savings. That is a one off not to be repeated event. Then they added £6m this year on the placing, plus I would guess the £500k loan has been paid back.
The price movement from sub 1p to where it is now has been great but there is always one which you find on AIM which has potential to go even further and 7dig fits those criteria nicely. £70m odd Market cap is not small and on any other exchange it would have institutional interest, which it did recently from the placing. It was either them or an interested party.
Patience is needed but I cannot see this being at minimum double what is now by the end of the year now that it’s a given the company is entered or is entering profit. There is no turning back from that. It’s the hint we get for the forwarding look period which will finally get the disbelievers and those on the fence interested.
Here is a result for today. Price is currently 1.85-2.10p. Given that price, someone decides that even with the rise this morning, even with evidence the offer has been pushed out to prevent frequent buying , I need to sell 400000!! and even then below the bid! The conclusion? we have a forced seller. This could have been the same seller who has been keeping up down.
Its only a theory that the MM have been forced to drop and widen the spread to get rid of this seller. Could be a legacy holder who has no interest in 7dig's future other than to work percentage profit from sub 1p. Once done we rerate back at least into the 3p range. I was so sure last week we would be back at 2.6p to cover the last gap.
Lets do a quick background check maidit308:
Price was around 3.2p when the placing was announced
Price drops to around 2.5p as we entered placing period
Placing was 2.25p and snapped in one single hour after morning session began.
Logical thinking would prevail that if a placing was taken at such speed then it makes sense that it was oversubscribed. Yeah right! Whats the proof? Well wanted £5m actually took £6m!
and your reasoning? It was offered.
So now why the drop constantly back into this region? Almost 0.5p below the placing which has spiked those buyers, and nearly 50% from the point of when the placing was announced. Some will argue that 7dig had come a long way and needed to cool. That is not a reasonable argument as we could argue we would still be above 3p had it not been for the placing.
The most logical reasoning and argument is that there is still more demand but not enough stock out there. So why not take the price down and shake a few out to meet the demand that’s there. If it is correct then we should be back above 3p in a short space of time. If not? Then 7dig is another cash generating machine for the NOMAD to garner close associates on AIM.
Foxy feel like you are losing your touch? I would have thought you would try for 1.7p or less, but a shave off 2p at 1.9p? You think that was enough to tell the world? Mate you need to be more brave! LOL
https://www.theguardian.com/business/2020/jul/30/sky-sees-575m-fall-in-revenue-as-sport-is-hit-by-covid-19-lockdown#:~:text=Sky%2C%20which%20is%20owned%20by,fixtures%2C%20subscriber%20viewing%20and%20advertising.
Sky sees £575m fall in revenue as sport is hit by Covid-19 lockdown
Broadcaster reports 15% year-on-year drop as more than 200,000 customers switch offSky, which is owned by US pay-TV giant Comcast, reported a 15.5% year on year fall in revenues from $4.8bn to $4bn in the period as coronavirus impacted sports fixtures, subscriber viewing and advertising.
The playing field youbigdosser is about to change and those who are giants and squeezed subscribers for years will be need to really begin thinking quick, because there are new players on the block all happy to stream per view.