Member Info for dibbydoob

@Forensic505 agreed

Credit facility extended to 100m without extra waiver fee. Capital providers would not have done this if LIT's going-concern status was under scrutiny.

I would have expected an RNS today tbh.

I thought that they will receive around 25% or so from gross return, plus a performance fee [historically around 20-30%]. Plus the interest per year on delay in payment at around 30% per annum approx. If we subtract the net debt, I make it around 30p at a best estimate, assuming 1 year of payment delay and 19p conservative. Could ae made a mistake but I think my calcs are there or there abouts. Would be interested in your calcs if yours are a factor of 2 greater than mine - may show up an error in my calcs that's all.

I estimate this to be worth around 18p - 24p worth of extra NAV for the company. Now, as @Hamilton1899 quite correctly stated, there is the net-debt to consider but debt or no debt, this is additive to the NAV. The longer the delay in the payout, the more interest will be accrued so this is to LIT's benefit but two things emerge from this news [assuming that payable = resulting cash balance]:

1) Going concern is now NOT in contention

2) Debt covenants are now in the black

3) BAU cash-runway - we need the CEO and CFO to make good on their promise to slash run-rate

4) More time for good news to emerge from other cases [as well as bad news!]

This should re-rate to at least around 25p now that going-concern status is not in dispute. Good news indeed.

This isn't a signal for anything - its a routine tidy up which happens on a schedule. See October 2024 for very similar RNS. Not saying that something isn't on the cards but this RNS is not an indicator of anything interesting.

Thanks @neuronaut for your thoughts on the matter . You write in your message:

- thus NAV of 50p (diluted) - 30% is 35pence per share - now

Now here comes the "fun" part: this is of cause Australian Dollars ... so then 35p convert to around 17 British pence

…. Are you sure the conversion is needed? Isn’t the 50p in uk terms already?

Best .

I agree with this entirely - the fair value accounting mist on NAV isn't so scary when the implied multiple is basically 1 - 1.3 . That's digestible for me and is probably hides a bit of upside. The assumption going into this investment is of course that the business mix of the remaining book isnt as dire as recent activity would imply.

1.5m shares average 9p. Boom.

Yep that was me.