Member Info for DD77

Blimey, how to depress me..............thanks.
A well researched reality check mind, I hadn't looked into it much...............like Jurado i own a few others like XSG and AVCT so incurring some pain.
Interesting to see Invesco reduce their holding further to under 20% now. I wonder if they will continue to decrease - they are under some pressure to reduce exposure to small caps, following the Woodford fiasco. With this cloud lingering, I can see the SP being subdued for a while.
I just hope we don't have a hung parliament and more uncertainty

The pumpers must be getting desperate now..............they're thinner on the ground so the realisation must've hit for a few now. How long till the next placing? 6 months perhaps, having not been able to raise as much as expected last time. GLA

Absolutely sphinx, the small placing at only a modest discount is progress in itself and a sign that we must be near break even

The business is fundamentally sound and i'm impressed with what the leadership does, how they're prioritising certain parts of the business, reducing $ debt, diversifying the business and creating a vertically integrated supply chain.

However, ultimately people will focus on the $ return and the weakness in the ZMW has wiped out the gains this year - revenue is down in $ this year, whilst PBIT and EBITDA is only marginally higher in $. And debt and has increased by over $10m due to higher input costs and challenging cash flow position. The sale of the farm should address this somewhat, and the SP seems ridiculously low but there just doesn't appear much appetite for shares like this sadly

Completely agree Chaps. There will be a short term blip here but the fact that this news has been outed is a good thing in the medium term. The fundamentals of PMO are much stronger now. The big short is only to hedge against ARCM’s debt, which is standard practice, albeit mischievous that they’ve kept it quiet. It’s clearly unravelling for them now and I’d imagine other shorts will close over the near term as the risks in PMO are far lower than previously. A positive announcement on the Zama sale would be the final nail in the coffin to any shorts

Ramson’s confirmation this year, from what I hear now. DYOR

There is no way Entrepreneurs Fund will buy out XSG. The fact you even suggest that means you either have very little knowledge of who they are or what they’re about or you’re just aimlessly ramping

Of course it makes sense. After the pump and dump by the rampers, it was always going to settle back down. I think it will drop below 1p again and stay steadyish until either further news or the next placing

I don’t think they’ve sold shares here, just that their holding has been reduced as part of the dilution

I thought XSG had siphoned off the tanning business as part of a management buy out?

The lights are on but noone's at home with that lad

How long till the rampers get bored here and move onto their next play thing?

Yeah absolutely lignum. This might have a short term spike on the back of the rampers but will then drift back down with the prospect of a future placing next year, unless there's some significant news beforehand

I don’t know what the usual take up is for open offers but 10.85% is certainly underwhelming. Says it all about the company and management. Why would people buy in when the SP is going to drop further and they need a further raise

Let’s hope so, good to see what looks like back to back solid day rises

IP Group have reduced their holding to 15%. Interesting. Not sure that’s a good thing

When are we going to get an RNS with the latest shareholder dealings? I would like to know before I decide what to do with the current corporate action and open offer

Volmer - a very reasoned view. The only thing I question is whether we’ll see a more balanced valuation in the New Year. It very much depends on other iis coming on board and there’s still the question mark of the next placing

That’s a start but the problem is unless a large ii comes in, those shares will just be flipped for whatever profit can be made. I can see the SP dropping further with the downward pressure. Woodford needs to offload his 30-40% too

Hard to disagree with a lot of the comments on here. I originally invested in this at £2. I’ve averaged down a lot but still facing a 20k hit. Frustrated because I believe in the product. Management have taken their eye off the ball though and relied on Woodford. The reliance on Woodford is the main reason we’re up the creek. I imagine the placing was done at this level because it’s the only way they can get those shares of his flipped to other parties and get new Ii’s in. I’m now resigned to writing off this investment. Part of me wants to invest in the open offer just to do a flip of the shares and try and recoup some of my heavy losses.

The fact that they’ve already indicated that they need another fund raising in the next year must make people question whether it’s even worth partaking in this placing though