Apologies - a couple of corrections to my above post (must use a calculator rather than rely upon quick mental arithmetic - doh!!).
In point #5 it should be 937,500 not 987,500.
In point #6 it should be 4.5m not 4.7m.
There is also an addendum to point #10 - the only time (during the 6 month period) that Lanstead do care about the share price is when they are selling to balance the books. Here they want to sell at a share price that is at least equal to, if not higher than, the average price paid under the sharing agreement. So this means at this point in time they are unlikely to want to drive the price down (again sorry doomongers).
Also a couple of additional points to those in my original post....
11. Lanstead sold 2,904,081 shares at this 6 month period end
12. In line with point #11 this means that they actually had to sell 91,581 shares more than they would've liked to balance the books (ie the share price realised upon sale was below that of the average price paid to VRS during the period).
1. Their model is now very clear - every 6 months they sell a quantity of shares equal to the amount of cash they have paid out in that period under the sharing agreement
2. That they sell these in a single block rather than drip feeding them into the market (sorry doomongers who suggest otherwise)
3. That a similar sized sale will occur in 6 months time (and again 6 months later, and 6 months after that)
4. That the sells indicate neither dissatisfaction nor lack of support, it is just their business model to 'balance the books'
5. That their 'profit' comes from the 750,000 that they were given in addition to the original 15m, and the balance of the unsold shares every 6 months (ca. 987,500 shares)
6. At the end of the 2 year sharing agreement they are likely to end up with 4.7m shares
7. That in the first 6 month period VRS received ca £1.1m under the agreement
8. That based upon the Annual Report VRS expect the average share price, throughout the 2 years of the sharing agreement, to be £0.612
9. This is no 'death spiral' as the total quotient of shares that will be sold is fixed (maximum of 6.75m)
10. On a monthly basis Lanstead don't care what the share price is and gain no benefit in it being higher or lower (the gain only comes at the end in respect of their residual holding where the higher the share price the better).
I've been back through the RNSs to try and get the definitive answer....
Odey owns 68,883, 299 shares
Over the years he has invested either £21.55m or £25.735m (if you include interest earned on the various loan notes) so average SP of either 31.3p or 37.4p
As for the 48p this relates to the Odey Associate Karen O'Mahoney who was given a load of shares at one point with this average SP.
Hope that clears things up - apologies for any confusion.
I think Odey's average buy in price is 48p and one would assume (hope?) that he'd want to make a return on this (as he's been invested for a few years) so how much would be enough for him???
Before I think I'd said he'd probably want at least £1 if not £1.50, but what do i know........though I guess we'll find out in the not too distant future.
... 18th October 2018 to be precise.....
Basscadet, whilst I agree that it would be good to see a detailed (side by side) benefits comparison other things to consider could be:
- viral & anti-bacterial protection which standard masks don't have (you can get masks with silver in but I wouldn't class these as standard)
- comfort / fit (perhaps the adjustable ear loops make the VRS one fit better and thus negating the recent story)
- length of time they may be used for (perhaps the VRS one can last an entire shift rather than having to use multiple in the same period)
- in a similar vein to the above point with the washable / reusable nature of the VRS mask perhaps means that over the life of the mask 1 VRS one will take the place of (very) many other masks. So on this, and the previous point, you don't compare 1 mask at £10 (not that bulk buyers would pay this much anyway) with 1 mask at £1 but rather 1 at £10 with 100 at £1
TDT, not sure you can call it a blackout, as that implies that there is usually a news flow that has now stopped! In the case of TSTR silence has always been deafening - probably because the humble PIs aren't really important, I'm sure Crispin Odey will know what is going on with SPMP in Oman.
As my shares are essentially worthless, and this is an entirely logical conclusion to the fastjet saga, I'm not going to vote either way, but will wish them good luck as a private entity in which I will maintain a small interest should they ever succeed / relist.
colonboy, from memory Crispin Odey (72% TSTR shareholder) needs something like 48p just to break even, so for me it is unlikely that he would sell at a loss / just breakeven, in fact given he's been here for 3 years I'd say he'd want a decent return on his investment - say at least double his money, so £1 minimum???
Fuzzbox, the original expectation (in May) was 50% by end June - which it sounds like they partially hit - and full (ie 100%) operational capacity by end 2020, so March 2021 is indeed another 3 month delay.
Though remember this project is already over 3 years behind schedule and probably also 2 or 3 times over budget) probably 4 times with the additional financing being sought).
When they finally get to full running the debt load will be so high that cash flow positivity will still be many more years into the future. In time this may become a dividend payer but I would think we are probably at least 5 years away from that possibility.
HAYD don't actually produce Graphene but rather buy it in from elsewhere and 'functionalise' it for use. In the past they have been called (by Neill Ricketts) a partner, and customer, of Versarien, though I don't know if that is still the case (here).
The company has just said it will go out of business in the next 8 weeks if flight operations don't restart as planned (and even if they do it may well still be very much on a knife edge). They have also said that the planned investment / takeover talks have not restarted, and they did not mention whether or not they would (I don't think they will as why pay good money for the airline when SAHL [largest shareholder and leader of the investment group] will be able to claim assets and buy the company for a song when / if it goes bust in 8 weeks time)?
QD22, given the lack of any RNS'd commercial orders (ie ones at scale) the answer is likely to be no, however, the Prelims should be out in the next few weeks (if previous years are anything to go by) and so you'll get a definitive answer then. Having said all of that given the number of active collaborations, and other arrangements they have in place, 'even' research type sales 'could' add up to a useful amount eg how much was required for the 20,000 plastic bottle production run (and was this just 'raw' graphene or some pre-preg product?)
Moljen, not true just can't be bothered with the BS on the boards (and for me NR isn't the one spouting it - if he is guilty of anything it is [over] exuberance and excitement nothing else).
FF, hope you are well.
Whilst this is good news, as it shows the company is maturing, and he appears a very interesting addition it would be REALLY nice if the Directors (and ESPECIALLY the non-execs) showed some faith in the company they have joined (and are being paid by) by BUYING some shares. Currently none of the non-execs own any shares and neither of the Exec Directors ADD to their holdings only sell down options. It would be such a strong signal if 'those in the know' actually bought some shares for a change, especially any recent hires (I'm particularly looking at you Susan and James).
Breakfree, let's have some context please - the TOTAL volume traded so far today is LESS THAN 1% of the shares in issue, so whilst the numbers may appear large they AREN'T, this is just noise and PI's chasing spikes / FOMO / P&D etc. If any stakes are being built / disposed of they are being done very, very slowly.
Bladderman, I doubt that as that would require them to increase in value over 100 times (they are currently less than 0.2p) though if you are a P&D merchant then your message makes sense and others should be aware.