RE: The news is so bad...18 Feb 2024 13:09
I’m not being defeatist but Ed and co have had plenty of time to work on this fundraise, to ensure that it is kept above our nominal value status. If we are looking at over a 50% further drip on the raise price of 2.06p, then that’s pretty disgusting management, in my opinion. We already having stomached the blow of the 2.06p fundraise, which was, as we know, a 40% discount to the then prevailing sp.
The last RNS, and use of a Primary Bid open to all platform again suggests that existing shareholders are being bulldozed to one side and into likely oblivion, if we can’t afford to, nor have the desire to continue to stump up our money in return for less and less shareholder value. Let’s face it, there has been promise of creation of value, but yet no or little attempt made to ensure that the cash calls are not totally crippling for the very people, you, me and everyone else who actually own this company.
Am I wrong? If so, why is that?
What has Ed actually done so far, to bring the rest of the business into the picture with the market, while we await the Kallak outcome with the Court?
Keep taking the wages and not performing well enough, then stuffing us at cash call time.
Nice!