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ROCKETVI: If it is actually happens that, "The conversion rate for nominal 0.001 is for the second £2m loan only if SND are unable to pay the 15% interest rate is how I understand this." then because 10,000*0.001=10p. ROXI would be able to buy ten thousand shares for just 10p that investors would be expected to pay in their proposed fundraise. I do not expect SND to generate enough profits to pay the 15% killer interest rates. So I agree with the sentiments of valueseeker that one should, "Expect wipeout..."
It will be interesting to see reaction of the market on Tuesday and which way the sentiment moves the share price.
If my maths is in any way faulty please correct me.
"Subject to certain events set out in the Second Loan Agreement, the Principal Amount of the Second Loan (excluding any interest accrued but unpaid or compounded) is convertible into ordinary shares of £0.001 in the Company ("Ordinary Shares") at the discretion of ROX ..."
New investors maybe expected to fork out 10p per share while Rox will be pilling the shares up at £0.001, from their high interest loan/s. Maybe a good IPO price would be to match this £0.001 per share?
It seems that the main invester to gain anything will be ROX Equity Partners Limited.
15% daily interest rate and the other restrictive terms do not appear to me to be supportive to a new company, these terms and the others highlighted by other posts will probably kill the present company dead as the parrot in the Monty Python's sketch.
Seems to be a trade count problem in late reported trades for first minute of day. My page is reporting over 35K trades and still counting. Strange! Most of the trades are single digit.
Anyone else notice something similar?
Jpalmer Did you mean, "What is the difference between RYCEY (Rolls Royce ticker on US market) and RR. (Rolls Royce ticker on London market)?
Thought this might help if you are still waiting for reply to your question.
Zimmam My recent posts were in reply to earlier posts by ATAT concerning short interest. In terms of 'importance' ATAT may or may not be interested with my reply. Other posters may be interested since it concerns interpretation of the short interest positions for RR. on ShortEurope.com.
ATAT Re: " I guess it still leaves the question of why the numbers are out by two orders of magnitude on the shorteurope site."
I think ShortEurope have incorectly presented the position values for all the companies holding short positions.
In the case of Kinbury short of 0.78% with position value of 5,024.93 M should instead read 50.2493 M. This accounts for the error of two orders of magnitude, I think. My calculation is, 0.78% * £6442 M = £50.2476 (using present market cap).
All the position figures for other companies given by Shorteurope are incorrect, with the decimal point in the wrong place. And of course the Sum figure given for all the short positions must be wrong because 2.2% of the company is valued at 14,172.87 M when the whole market capital is only 6,442 M. The sum of short positions on ShortEurope I think should read, 141.7287 M, since 2.2% * 6442 M = 141.72 M, the decimal point needs moving two places.
Maybe I have missed something, but that is how I read the ShortEurope incorrect short position valuations for Kintbury and all the other companies. Indeed this error may be a feature throughout their whole website.
I hope this makes sense.
Yes cheers for your reply, PSK this board has changed in recent days probably because of political probelms we are facing.
But I think Steve just wants some help and this is a good place to find help.