Member Info for deepjoy

Patience always pays in the end in good companies :)

Peter.... 100% agree with you. Those through away comments about the flippers in the last raise being II class investors concerned me also....

Kainos.. Cheers, but even i broken clock can be right sometimes :) :) This is a great company thou and its a stick not twist for me very much still. GL to you and everyone else keeping the faith :)

Bye Bye .. I don't think you are the only one to sell at break even price but hey good luck.... :)

Yes agree.. with the RSI only at 65 there is a long way to go here. I don't mind people reducing holdings in these circs as it brings in new investors and reduces the temptation for people now over exposed to sell later when the SP really starts to motor as news flow increases. To my mind I've waiting months for this point and I am patient and daring enough to wait a few more.... This really is just the start in my view and slow and steady will do me fine. Some times doing nothing is the hardest; but most profitable method :)

Brooko agree with you. I think we have a churn of people de-risking slightly having stayed the course and some margin traders. The bid price tells the story here it is moving a lot today where as normally over the past few months it stays static for long period of the day as the seller goes into any volume.
The last three days chart is a perfect sign that the volume seller is spent IMO ... waiting months for this and glad I topped up in the target range. No time to sell down unless you are over exposed which is of course subjective. If we finish at this level or above that would be a fantastic result and a really good sign considering we havent had news ... GLA

Mark, You are incorrect they were sells and they went through two days ago but reported yesterday. right on the sell price around the end of trading the 25th.. All good thou as it flushed the pan..

this now starting to play out as we all would wish...slow and steady but patience remains the key word here. Seems like a lifetime since I invested but still a conviction holding for me. We'll know in the next day or two if our volume seller has departed once and for all. GLA Deepjoy for sure !!

top up time very very close ...... I see the end game here. DYOR

We only know for sure that Starboard and their partners financed Acacia for the deal and had a 'preferred investments' option clause in their very complicated load agreement from 9th November 2019. I thought they had taken some orph shares but I was wrong as there is no reference to such holdings in Starbaord sec filings last week.
So I have to be honest and say I have absolutely no idea where they went but coupled with the chance of other investors flipping on the last raise price the only thing I count on is their being a margin of profit these people work to and technical support is strong around 12.5-12.8p... Sorry I cant add anymore I just don't know.

Strictly... my own hypothesis is that if Cathal phoned them in early July like he had said in interviews then he would have offered the then SP price 11.2p -11.75p which they refused. No clearly we don't know where the 24m shares of the 38m went, and as some have suggested they could have been taken by berenberg themselves etc. The only thing i would feel confident about is that Acacia et al have a fair value in mind and that would be anything above 11.75p as per the aforementioned.
I don't know anymore than anyone else its just a waiting game but I do know that I've got over 50% of my PF value in this company and sleep soundly at night knowing my investment is as safe here as anywhere else. I don't many here give Cathal enough credit sometimes and do nothing more on here than winge and moan. good weekend all I am off fishing...

Just imagine how cheesed Cathal must feel. He put in over £2m of his own money into this company at an average of circa 6p and has worked his b u tt off and Acacia et al, swoop in sell £3m worth at 12.2p for a one day hold on under £1.5m knowing they were on a sure winner....
So before moniman et al winge like always about the SP and RNS' and people whp put the work into doing their own research have some appreciation as to what our CEO is up against trying to get value for all shareholders. GLA

In simple terms they bought the options rights on the 3rd April.. Decided to go ahead on 22nd May and deposited their money and then from 4th June could decide when and what to call in for themselves.. Very very lucrative and no wonder Woodford Fund holders were up in arms

Yes.. He confirmed they had in July,however given Acacia were tied into a complicated funding arrangement with Starboard they may not have been willing to trade any shares held at a fixed or current market price but trade them freely as their next milestone date for payment of loans / warrants to Starboard et al on the debt isn't until 30th September.

By way of explanation: the Acacia quarterly report out last week made reference to the purchase from link of the woodford funds (section 14 of the report) there is explicit reference to the link portfolio :
Acacia had an options agreement to buy the holdings valued and dated as of 3rd April (orph price was 5.9p then). This options agreement was actioned on 22nd May (orph price 14.15p at close) which meant that Acacia secured to rights to but not possession of the shares on that date at the valuation of 5.9p. They took possession on the 4th June 2020 as we know but we also now know the price they paid 5.9p.

I include the following as a direct paste from the report -"On June 4, 2020, the Company executed the Transaction Agreement between Link Fund Solutions Limited, Seller, and the Company. Pursuant to the Transaction Agreement, the Company will purchase from Seller and the Seller will transfer to the Company the specified equity securities of all Portfolio Companies at set prices at various future dates. The transfer dates will vary among the Portfolio Companies as the Transaction Agreement gives the Company the exclusive right to determine WHEN to call for transfer of each security, and because each Portfolio Company (or its existing equity holders) may be required to approve the transfer due to rights of first refusals and other company-specific terms and conditions. Thus, the execution of the Transaction Agreement resulted in forward contracts for the Company to purchase equity securities in each public and private company at a specified price on a future date.

In accordance with the Transaction Agreement, the Company transferred the total purchase price of £223.9 million into an escrow account. As each of the equity securities in the Portfolio are transferred to the Company, the associated funds will be released from the escrow account to the Seller based on the consideration amount assigned to the equity securities in the Transaction Agreement.
For accounting purposes, the total purchase price of the portfolio was allocated to the individual equity securities based on their individual fair values as of April 3, 2020, in order to establish an appropriate cost basis for each of the acquired securities."

Acacia disclosed last week that as of 30th June the net value of the portfolio was $74.3m profit (realised and unrealised gains). So we do not know what amount (if any) they have left but we know they declared that had taken all link held Orph shares 5th June (38m) and by the 7th were under the 3% threshold (13m). They (or whoever had the 24m) aren't in a hurry as the profits make

And now you just get personal...... you asked the question you got an answer that anyone with any basic knowledge would logically conclude and then you attack them for giving you what you asked for. Never mind have a good day

The answer to that question is ridiculously simple ....Institutions and large investors obtained their shares at 20+% discount and that raise was understandably over subscribed at that price. However Acacia declined to engage with the broker to cut a deal at that price as they rightly could dispose of them in the open market higher which they have done. No institution worth their salt would pay open market prices for a share when they don't need to and so, you have the classic catch 22 situation.
The reason the placing was oversubscribed was that the price was too ruddy low in the first place.
You hear but don't ever listen Moni , that is sad because you just repeat yourself over and over again...

Moni... Apart from one RNS on the 8th July there has not been one single release that didn't needed to be issued to the market in accordance with the rules on company matters that could affect the SP directly. He has had no choice on must of them as a regulatory requirement. You seem upset that the fact that each release has been sold into has taken the SP nowhere for three months; imagine how Cathal must feel then when he is driven to obtain share holder value and holds the most shares... Please refer to the LSE/AIM rules on the duty to report before articulating an argument such as you have. Doesn't do you justice otherwise rightly or wrongly as the case may be. Regards DJ

Hi slik.... to be honest I don't mind if they don't its a win win for me, but if there are more bargains to be had I'll take them. Biggest holding by some way but I don't mind taking more if it drops. :)

Bob... Although i agree with your general sentiment I don't think are seller is stressed; far from it they aren't in any hurry at all. Personally I've taken the emotion out of the share by putting top up buy orders in around where I consider the bottom of the trading range to be. Better than watching the screen all day and even live pricing doesn't give a true picture given the volume of delayed reported trades. The MMs are using small buys/sells to maintain the current spread and prices, all is not as it appears but you're right holding is by far the best strategy IMO..

It is worth looking at the hit and 'bounce' rates on the listed gfin sites... all is not as it would want to appear to be and there is clearly more work for the company to do to get people engaged. DYOR .....similarweb.com can give you the stats