Member Info for EricDraven

Hi. I’m not sure just how PrimaryBid will ascertain whether you are an existing holder or non-holder, for priority purposes. I am not taking part in the offer. You’ll only know what proof is required, if any, when you fill in the application. Obviously if you say you have so many shares in an ISA with ii, as an example, PB will hopefully be able to check it. Or you could supply a screenshot etc. But I’m guessing as to how they will differentiate from a non-holder.

Perhaps someone else here will know. If they’ve participated.

Best wishes.

Hi Ripley. It’s a Rights Issue in Sweden only, and a UK retail offer, so not a RI for UK holders. We will only be given priority over non-holders if we want the extra shares at 2.06p, but anyone can apply for them, including non-holders, at the same offer price, via PrimaryBid.

Maddog, best of luck though if you are thinking of topping up.

Hi Maddog. I don’t have any money to top up matey. I was considering selling some from my ISA and buying back into the offer at 2.06p, but the faff isn’t worth it. I’m not jumping through hoops, as my broker isn’t party to the corporate action this time with PrimaryBid. In other words, I’d have to sell from my ii ISA, transfer the cash to PrimaryBid. Put in an order for the new shares, then the shares would go into my ii trading account, then I’d have to do a Bed & ISA.

Screw that. Budge has made it both difficult and unpalatable.

Doc, sensible. If information is relayed back to shareholders from the CEO and an event relating to said information does not subsequently occur, then shareholders are entitled to know why that is. Similarly, if something additional is planned, like the surprise fundraise that shareholders were told in December wouldn’t be necessary, then an explanation prior to it occurring is apt. In my opinion.

Unfortunately, not all CEOs tie up these loose ends, so then shareholders are left to ponder and perhaps worry, which simply isn’t good enough. With the LP situation, knowing the reason for the additional delay would be helpful, and also what then is being done to rectify the situation. If it is still beyond the company’s control, then an update on progress from the Government should be sought, in view of the three month resolution period now having expired. Otherwise we see sp drift, as the more exacting shareholders lose both confidence and trust.

It’s not too much to ask that a CEO keeps shareholders up to speed and manages expectation well. Or, it certainly shouldn’t be.

Only my view. But nothing ever seems to work out as I would like it to. Lol.

Just felt today’s RNS was sneaky.

The point is that the offer being low wouldn’t be so bad if there was ever great news to build the sp quickly following these fundraises. As we know though, the subsequent RNS releases rarely boost the sp. Hence why we are sitting at dire levels anyway. So to be at a precarious level and then conjure up a 46% discount to that level is irresponsible in the extreme. In my view. And yes, we have the loan to pay back first.

Enough from me.

Lb, yes, the underwriting comes at a cost, but obviously it ensures the fundraise can’t fail, which is a good thing. No skin off Kurt’s nose though.

Hasty/Lb, I just found it a bit shifty, the RNS. My initial reaction, but of course some shareholders won’t bother. It matters to me though, as Budgie needs to know the jeopardy he’s put those existing holders in with the 46% discount. Specifically those holders who are unable to afford to participate in the offer, or don’t wish to.

When I say referred back, I am aware the RNS does mention when the offer was made in Jan, but they should only have mentioned the 46%, not what the discount is now, based on yesterday’s close. This isn’t normal behaviour.

In my opinion.

Taken from today’s retail issue offer RNS:

“Beowulf (AIM: BEM), the mineral exploration and development company, is pleased to announce, the launch of a conditional offer for subscription via PrimaryBid (the "PrimaryBid Offer") of up to 104,000,000 new Ordinary Shares of 1 pence each in the Company ("Ordinary Shares") at an issue price of 2.06 pence per new Ordinary Share (the "Issue Price"), being a discount of approximately 31.3 per cent. to the closing mid-price of the Ordinary Shares on 8 February 2023. The Company announced its intention to launch the PrimaryBid Offer on 25 January 2023. The PrimaryBid Offer is for a maximum of approximately £2.1 million before the deduction of transaction related costs.“

I’m fuming that they have stated the discount is 31.3% based on the sp of yesterday! I believe it’s underhand. The actual discount, as we know, at the time of the offer, was 46%.

Just a point, but the BoD should have referred back to the original RNS, so that new investors are fully aware of the discount applied originally, and subsequent damage it then did to then sp.

Otherwise, the picture doesn’t appear as it actually is with this offer.

My view only.

Weird little trades after hours. One uncrossing trade, the rest tiddlers. Pretty dire if it’s all mm tinkering and no proper investor trades. We need a boost from news.

Come on Kurt and Ulla, generate some interest!

Yes, the thought of buying in and doing that is terrifying, but I guess if I do it the once then it’ll get easier if I try again another time. Still looking at COPL. Low number of shares in issue, big drop from double figures. Interesting.

Good that our KEN is holding up ok, still no news.

I suppose your lemon Farah’s are spotless are they Owly? Lol.

Ok Troaj. Much appreciated.

Be nice for long-termers if it continues on the up.

I bet they shut at 5pm tonight. Lol.

So even the phone attempt was duff. Lol. It’s like trying to break into Fort Knox.

Cheers Troaj. Been watching this today. Seems promising.

Now now Lb.