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Seed had zero voting rights. Once those with voting rights decided the deal there was nothing seed could do to prevent it happening.
Likewise with Emmac another that several voices state Ed screwed us. No he didn’t Seed held less than 5% and the deal was agreed between a listed company (who didn’t reveal details of the possible deal before announcement - preventing Ed from revealing market sensitive information) he was correct in the interview prior to sale Emmac doing rather well etc.
For the 2nd time today…
Leap in total has been sold to IMG
SEED have not sold their % independently IMG have bought the company. Seed as minority shareholders would have had zero say in this decision.
Doesn’t suit all the negative narratives on here bot Ed has not sold us down the river. He had little option but to accept little more than money invested in return. IMG &Leap board decided this deal. Point to note IMG arena CEO has sat on the Leap board for as long as he has sat at the helm of IMG Arena. I’d be looking in his direction for help in the matter.
Ed hasn’t decided to sell Seed holding independent of IMG & leap board members.
The Leap board decided to sell the whole company to IMG, a 25% holder Seed were forced to agree.
Ed had zero say in the deal, he told us recently he would have not invested in Leap if the deal presented itself today.
Returning £5m (for 30% of the NAV) in the current climate when our mcap is £4.7m should be applauded with 70% of the NAV remaining.
Watch your shares Monday gals plenty want you to sell…
I’ve repeatedly said 2.4 is the happy zone as can be seen from the charts for the last 13 weeks. This is the price we all want to pay, as long as the sellers facilitate then everyone is happy. Only goes wrong if there is too much one- directional traffic.
Quit the faux outrage Fatman. We knew we were getting approximately what we got for leap 3 months ago…
Mcap is now under what we are getting for Leap which made up 30% of the NAV.
The remaining 70% of NAV (£11 million) currently valued at less than zero….
Interim results next week.