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1p money actually 4.8% of the totally issued share capital not 20%
Like I said - read the prospectus it’s all here
https://www.dialsquareinvestments.com/ul/637e260fc5ade_Dial_Square_Investments_Plc_-_Prospectus_-_23_November_2022.pdf
And I have to agree EarlofAim - you don’t do these shares any favours with your ramps.
Facts are facts 7.5m shares issued at 1p on incorporation £75k worth or at 3p would be £220k.
The remaining 150.5m all been issued at between 3.5-5p since April 2021
There is absolutely not £750k up 200% at 3p - I suggest you read through the original Dial Square prospectus from November 2022 which clearly states in that document how the company was incorporated and funding levels of 4p.
There was 7.5m shares issued at 1p upon incorporation April 2021
8.75m issued at 4p April 2021
10.3m issued at 5p November 2022
The most recent RTO into Energy Pathways all shares issued as part of the transaction and placing were issued between 3.5p pre IPO and a further £2m raise at 4p.
Total issued share capital 158m shares
150.5m have been issued since incorporation in April 2021 at between 3.5-5p
7.5m original incorporation shares were issued back in April 2021 at 1p.
Bidco 3 ltd is a company controlled by Richard Hughes. At least it shows he is still supportive of the deal and isn’t a spivi loan provider like riverfort etc.
I highly doubt it’ll see 3.5p anytime soon if at all ever again. If it relists at 0.2p, 3.5p will be 17x away - highly unlikely IMO
A lot of Sorted’s assets are likely to have been wiped out in the last year of trading, hence why would they need to liquidate if they had realisable assets.
I’m hoping for 0.2p bare minimum anything more is a bonus. 0.2p re list price will give a MC of roughly £12m or 0.3p would give a MC of £18m after raising an additional £5m.
Ideal scenario would be no raise with retail whatsoever, all warrants converted into shares at 0.2p that’s roughly £4m or so, raise another £1m with Sorted management to align them with Concert party. Even if it was to relist at 0.2p this scenario would mean the shares remain just as illiquid as when they suspended, add a bit of good news which I’m sure they’ve got news items lined up to tell the market considering the RTO process started almost 6 months ago, and we could be looking at a flier.
Looking forward to seeing the terms of the deal in January. Keep telling myself these guys surely wouldn’t do a deal for less than their entry at 0.2p. Suspended with £4m+ cash also, they would look silly if a deal is done for less than 0.2p after taking almost 3 years to find one when they’ve all invested significant sums at that level.
Just got to remember everyone that is involved in this have big money in themselves. I would be shocked if the due diligence wasn’t thorough prior to announcement of the deal back in June considering the concert party have millions invested.
Given the concert party and Simon Wilkinson entered at 0.2p, I struggle to believe it’ll be for any less, so 0.2p minimum. Concert party have waited for 2 years like other shareholders so who knows if they do it at a premium. It wouldn’t surprise me in the slightest if they did, but considering they are asking management of sorted to align with investors also, it may well be done at 0.2p.
All guesswork but suppose we just have to wait and see.
Likely no sticking points as such. It’s almost certainly a done deal as without LSAI funding them they’ll enter administration and then LSAI pick them up out of admin anyway.
RTO’s take time and it has only been 4 months, if it relists before Christmas which at a guess I would imagine that’s the plan, it’ll be a sub 6 month RTO which is pretty average, some suspend for years.
I reckon they comeback with plenty of cost savings and a quick way to profitability. Like I’ve said multiple times before I’m really hoping to see a raise with all insiders, maybe even all warrants exercised to add cash into the business also, if they do this and don’t raise any with retail, this will remain as illiquid on its return as it did before it suspended and could see a very big move. Especially with the likes of who is involved it could gather some press attention IMO
Iain Greig gone now also. Again more out with the old, sense very close now to in with the new. Reckon they want this relisted for the Christmas run up as likely their busiest period, could be wrong but would make sense
RTO’s are a lengthy process, a lot of work is involved but the recent update sounded very positive. I like everyone else here is very keen to hear on what terms any money will be raised at. Fully expecting it to be 0.2p+ and hopefully kept with insiders
When it relists they likely will do a share reorganisation at the same time to reduce the number of shares in issue and it’ll list at a higher price.
As long as the relist price is effectively 0.2p or above I’m happy. I can’t see them doing it for any less at all, the question remains will it be a premium to the concert parties entry? Considering they’ve waited for 2 years there’s a chance it may be, time will tell!
All sounds like it’s progressing nicely. Looking forward to hearing details of the deal structure, price and who has taken part in any potential raise
Yes, shouldn’t be long now before we hear of the deal terms for LSAI holders.
No not as of yet, I’m checking daily haha!
Founder and CEO David Grimes resigned yesterday 4th October from Sorted, changes happening, out with the old, next will be in with the new
Doesn’t really matter does it, obviously a reason behind it. Reckon Sorted results will be out within the next week or so and then we may hear on what terms the deal is being proposed to be done.
Getting very close now, first LSAI major shareholders list updated on their website, now Sorted holdings confirmation statement published on companies house.
No they were holders before suspension.
What it does confirm though is the 75m share sell that went through after suspension from cantors is unrelated to the concert party, which is obviously good.
If this comes back with no further funding or placing to retail, but is all done and kept with insiders, ie board of directors, Major shareholders, sorted Management/shareholders etc and maybe all warrants exercised at 0.2p, this could really fly on relist as the free float of shares available to retail would remain unchanged, meaning it’ll be just as illiquid as the day it suspended
Getting close in my opinion. Major shareholders list been updated on the website as of 15th September, also including Monecor, Spreadex and Cantors holdings. Screams of getting house in order before update of terms of deal