The End (for the existing PI)20 Dec 2024 08:10
Be in no doubt, this is the end for existing shareholders. Effectively a back door takeover by TFG and 900m more shares being issued at 2p. They’re even continuing with the clear out of directors.
I need to fully read it but at first glance, if you owned 100k shares yesterday, they were worth c.£4k. Today worth £2k. If you want to subscribe, you can get an additional 147k shares but it’ll cost you just shy of £3k. So you’re effectively now in for £7k but the shares are still only worth £5k at the 2p.
Forget such share prices like £1 or £2 ever being achieved again.
I said weeks ago, you’ve got to now judge this investment as if starting completely afresh. It might be possible to still make money from here. It might double, treble, quadruple. But to 4, 6, 8p etc, not £1+. So for existing shareholders, it is categorically the end of recouping losses from your original investment pre Sprinter failure. It’s back to square one.
On RM, I’m not so sure why he was so smug. This is a plain old Friday fundraise, just before the weekend, but timed even more perfectly for the Friday before Christmas so as to go under the radar as much as possible and/or allow shareholders to have calmed down a bit by the AGM.