Member Info for Dunnieboy

David, I believe the takeover of Racing Point is part of the plan, but not for a while yet, selling to MB is the ultimate plan.

MFGX, quite a history and I congratulate you on a great career, and good for you not taking **** off anyone.
Quite simply spin this every way you want, we are in at the same price as Yew Tree Consortium, even as Stroll himself.
If he took us private there would have to be a pay out, we’re on equal terms.
If he really wanted to shaft us, and don’t say it couldn’t be done because it has and often, they could have done a pre-packaged administration, and ended up with the company a lot cheaper.
But he can raise money in the public arena almost at will, but if he shafts us in any way he will be shafting MB, Wolff, Moers, Gregor.
I think the deal he will do & is possibly building up to is buying Racing Point from its current owner, which as we know is himself.
I honestly believe he can achieve all his personal & professional ambitions through merging the two, and ultimately selling the company to Mercedes.

MFGX, just because I question things doesn’t mean I’m on your back, surely that’s the idea of a bb.
With regard to trading whilst insolvent, that is illegal if it’s to the detriment of your creditors, and your acccountants can put your company into liquidation if they identify it, I accept it’s a tough call because ‘technically’ most co’s do so when in difficulties, often just through ‘cash flow’ difficulties.
Insolvent is not being able to meet your financial commitments as they fall due, so possibly the country could be classified insolvent.

MFGX, I don’t need anyone to fight my battles, I enjoy a good exchange.
But you have taken the ‘higher moral ground’, I could certainly match most including yourself share for share, the difference with me is I have often called my buying before I do it, so it can be checked on trades.
Obviously you’ve come on at a time that shorters are trying to exert some downward pressure, so am naturally going to be suspicious.
I try and find info to share, for the benefit of the board, but unashamedly for the benefit of my share price.
By the way you still didn’t mention your average price, nor what your ‘professional qualifications’ are, don’t go all shy on us now ‘oh wise one’.

MFGX, I haven’t actually rubbished what you say, all I’ve stated is that most of us knew all the problems from when we’ve bought, there’s been no surprises here for me, the one thing that has probably upset me is that we’ve been excluded from the fundraising & it should of been a rights issue, but as the share has often traded below 50p I have accepted it.
However your last post comes across very high handed, to be quite frank ‘someone who is stuck up their own arse’, you have said ‘don’t question your professional judgment’, but when I asked what your professional qualifications were earlier you declined to answer.
When I state I’m ‘basic’, I meant I like to go to the ‘heart of the matter’, instead of beating about the bush.
I do question when any poster says ‘I’ve got shares in seven figures’, because you might or might not have.
With regard to me questioning your professional qualifications, which we still don’t know what they are, well surely your questioning the professional qualifications of our CFO, of which we can be assured that he does have.

MFGX, your obviously no ones fool, and your posts are well put together, I’m a much more basic man.
What I don’t understand is you have over a million shares.
Well surely knowing as much as you know then you must have seen this coming, this was a debt laden company when you bought in, so there was always going to be funds raised and with that goes dilution.
The bonds was debt reorganisation, and eased pressure in the short term.
I accept there has been a element of control over the sp, do you not think it may easily as been ‘supported’ as ‘held down’?
There has been a seller of over 150m shares in IndustrialInvestor, and now a exiting director is selling, alongside two per cent of the company being shorted.
With that weight on the shares they could have been smashed down easily to 25p.
When the market has such a big seller it spooks the market, in the midst of this selling Stroll has had to secure big funds, no mean feat.
A pound of the investors money has bought the Yew Tree investors the same amount of shares as our pound.
So no matter what way you look at it we are in the same position as ‘the big boys’.
A while back I had a average of about 56p, I’ve worked my socks off & put extra funds, upon funds to get it down to the 50p mark & am more or less there.
Is it your average price that is bothering you?
If so I could understand, if for example it was 75p well I could understand your worries
If it was 30p you’d be lauding it as the great British comeback co.

3300, that’s not very nice about the bf?

3300, I thought you’re a expert on everything!
Didn’t you rubbish my maths?

MFGX, I was joking.

Price has dropped as the market has read this as a director selling, of course we know it’s a exiting director.
If the American market opens strong I’m hoping to buy around 25,000 so hopefully the price stays down, only for a hour or two.

More ex directors sales

MFGX, so now you have been associated with the company, and have professional qualifications, plus over a million shares, but of course you don’t want to disclose for fear of becoming known.
It’s Andy Palmer!!

Ok for once I’ll take your word, but what’s happened to the old bonds because the money raised was said to being used to pay off the old bonds?
And as the settlement date was not till November 16th, I assumed that they wouldn’t be overlapping, quite possible the old ones have been settled out of existing company funds.

MFGX, I wasn’t talking about the bond issue, I was talking about the placing.
My understanding was there are bonds being traded, but it’s the old bonds, which will be replaced by the new bonds which are not being paid for till the 16th of this month.
Let’s cut right through all the big words here and go straight to the heart of the matter.
You say you have a very large holding here, which may or not be true, but I wouldn’t hold one single share in a company I don’t trust, why are you holding shares in a company tin which you don’t trust the management?
Can you avoid ‘smoke & mirrors’ and keep the answer specific to the question, thank you.

MFGX, come on what could change?
The world is awash with a pandemic, anything could happen, it’s a bit like ‘subject to contract’, how them words have come back to bite most of us.
It’s procedure and it must be followed.

MFGX, the vote n December is going through legal procedures, it gets voted on by shareholders, so they are being professional & courteous by wording it in that way.
But read the all the announcements and they state that the £125m for the placing was paid on a pro-forma basis, paid up front are you suggesting that the same people who have paid will vote against it.
You trying to play ‘high & mighty’ here, don’t believe your a holder and honestly think your short.
You keep on slipping in about professional qualifications, come on don’t be shy, your dying to tell us.

MFGX, ok if it’s not illegal let’s agree it could lead to accusations of fraudulent trading.
With regard to the company making provision for a downturn in trading, it would be with reckless not to make provision for a downturn given the situations going on in the world;

The directors have considered a severe but plausible downside scenario that includes considering the impact of a 30% reduction in DBX volumes, a further 4 week period of factory closure due to Covid-19 restrictions, operating costs higher than the base plan and additional cash requirements linked with the end of the Brexit transition.

MFGX, your wrong again, the second placing was done at 50p, the mid price that day was 57pish.
The sp reached early 70’s, I can’t remember 80p in Stroll’s days.

Short, not shirt, although you may lose your shirt if your short.

MFGX, I think your shirt on AML.
Trading insolvent is illegal, and the firms own accounts would declare it or resign, which would have the same effect.
As for ‘fundamental uncertainties’, are you having a laugh?
First day of lockdown, American election & Brexit.