Member Info for ElectricLion

Sorry, still thinking about this! Following on from my last post...

So that means the fully-diluted quantity is really something of a sliding scale, depending on the current SP (or takeover price). With a higher price implying a few more shares, and a bit more cash raised, but also a lower price implying a few less shares and a bit less cash raised. So it's not an entirely trivial calculation!

One last point - if the 50p warrants were taken up, they would return 50p per warrant to CNR, so for a completely fair fully-diluted calculation, you need to not only sum up the total number of shares, but then also offset those additional shares against the extra funds they would bring in. Those funds could of course be simply spent on one thing or another before sale, but I would expect any remaining cash the company held in it's bank account, after all costs, to also be distributed to shareholders, along with the sale proceeds (in theory - of course we still don't have much insight into concrete specifics).

Thanks for that, I think we're more-or-less on the same page. Options are granted annually, and I believe have similar restrictions as warrants. They're not broken down on the website though, unlike warrants, so are harder to track.

You mentioned that the options and warrants would be "honoured" in an asset or company sale. I'm just trying to get to the bottom of that statement.

I'm unaware of any rules specifically affecting options or warrants in a sale process, so my initial assumption would be, nothing would happen automatically. If individual holders exercised them before the sale, then fine, if not, then they'd be lost. Do you know different?

If there are no special rules, then a good proportion of the existing options and warrants cannot currently be exercised, due to the limitations on converting them - none in the first 12 months, then only 50% in the following 12 months, then the rest - that sort of thing. I don't recall seeing those kind of restrictions on the 15p ones, but the rest have them I think.

I'm aware of the history. Your post does not answer my question.

"Whether Cnr is sold as assets or as company , options and warrants will be honoured."

How do you know this? What exactly do you mean by "honoured"? For starters, there are restrictions on exercising options and warrants - they're spread over 2 or 3 years typically - I can't imagine those restrictions will be dropped?

It is pretty indisputably good news. We must assume that all of the 15p warrants will be exercised at some stage, so contributing to the fully-diluted quantity, but now Condor has the cash, which should extend the period between now and when a further fund raise becomes necessary, to hopefully beyond the conclusion of the sale process.

I was also going to suggest that it almost seems generous from JM - if he really was a complete and utter ruthless shark, then he'd want more discount shares in a further placing, right? And so doing it now is almost a gift. But then I also see that that his holding is now up to 22.9% - almost a quarter of the company - isn't that at or near the level at which he'd have to make a formal takeover offer? If so, perhaps it's not so generous, perhaps he's just at his limit of how much he can have without effectively buying the company himself! (Which might also suggest that if CNR is not sold, that future fund raises might take place without his involvement, for better or worse, but let's cross that bridge when we get there!)

What are you on about? He's exercising previously-granted warrants. No explanation necessary.

Without wishing to brag, 288k is less than my holding... so hardly high volume! Wake me up when we get a few million traded. Until then, as 888 says, it's just PIs and traders. Nothing to see here, yet.

Also strongly implied that ideally, in his view, the whole company would be sold, and that saying we were just selling the assets was some sort of regulatory requirement, essentially. That's how I interpreted it anyway.

He said that some parties had left and some news ones had arrived in the video we saw. He also said at the start he was limited in what he could say due to NDAs and stock market rules. So his responses to you are hardly suprising TBH.

Fair enough. Though it does occur to me that, given how low the volume often is on this share, that your trades (and other traders) might be responsible for a fair bit of the low-volume moves, both up and down. That's just the market doing what it does I suppose, but does make me wonder how much of it is self-fulfilling. I've often thought the same about technical trading - that if a load of people trade based on the same patterns, then those trades may *make* those patterns happen, rather than them correctly predicted. All semantics at the end of the day though! Making money is the name of the game, and if you can do that consistently, then it's all good!

Taking profit is always the tricky bit, although my understanding of that phrase you mentioned is a little more nuanced - you absolutely *can* go broke if you take a dozen small profits, and then one loss large enough to wipe you out! Position sizing is one of the simplest and most underrated ways to manage risk IMO - you can only lose what you invest! Greed is the killer.

ISA - do you ever actually trade based on your liquidity observations?

The PREM 3-month chart doesn't look so nice though does it? Plenty of other shares down today, not just us. That's just how it goes sometimes.

OK, so you're just a bad investor, and you blame MC for that. Gotcha. 'nuff said. Filtered.

Get a grip Punter. You should apologise specifically for your 11:59 and 13:26 posts today. If you can't see that, in light of the new information that has come to light, then it is quite clear that you have lost your own sense of direction.

It was I who drew your attention to the Aguila poster, and I did certainly did not claim it was definately MC. In general, I would say that your language is becoming quite close to libellous to be honest, having already been disrespectful for some time. Might be an idea to rein it in a bit.

Finally, if that is how you feel, then I am genuinely quite puzzled as to why you do not hit the 'sell' button in your trading account and leave Condor, MC and this board in your past. You are quite clearly becoming rather bitter and aggreived at the whole thing. Sometimes you gotta know when to get up and leave, for your own good.

...

You got to know when to hold 'em, know when to fold 'em

Know when to walk away and know when to run

You never count your money when you're sittin' at the table

There'll be time enough for countin' when the dealing's done

Punter, I think apologising rather than doubling down on your MC bashing would be appropriate at this point.

Ah-ha. The other side of the story. Thank you slowther, that settles the matter as far as I'm concerned.

Back on filter you go SS.

Took SS off filter for a moment to figure out what you guys are all on about. From what little SS has actually said, it sounds like it's the hotel that's asking, not MC. You folks jumping to conclusions should take a second to ascertain the facts before sitcking the knife into MC IMO (and the only "facts" you're going to get are all from SS's keyboard).

I don't follow Mako either, must be a reason why they specifically are down so much. Any Calibre decline really ought to be seen in the context of their impressive recovery from the sanctions low last year.