Member Info for fb2020

Is cringe worthy , He said she said, administration then to the moon, now warrants (that don't exist yet) Buy outs, going private, funding no funding, 10p by Christmas, Bill gates buying in with Elon ?

You have people here for 5 mins telling you how it is easy money, no brainer ?

Total BS !!!!!

"Hahahah MM’s short of stock, give me a break."

Orhyblue I take it you don't think someone has forward sold then ? with the possibility of no shares being placed ?

"MM's short of stock?"

:-)

Last five trading days all locked down and suddenly whoosh up she goes. The clever ones will know the reason and the stringent timings that are being played out.

"Instead, it appears that a significant portion of the new shares has been allocated to Peel Hunt/Allenby and associated parties. This raises questions around the fairness and transparency of the process, as well as the board’s stated commitments to rewarding shareholder loyalty."

That is what reolution 3 and 4 are all about this time as well. automatic right to issue up to another 500 million share and 2 % to existing . when people vote for the pre emption rights to be removed it means they do not have to include existing share holders in the 500 million element .

I just bought a few hundred quid more at .2444 , not a lot but all adds up. i expect the price will fall other the next few days as some of the Alenby clients may decide to sell still making a profit just incase the vote is NO as they won't get their warrants ?

"My apologies, misread the RNS of the £0.8m raised (initial) IS unconditional as part of their existing authority…so agree they have secured at least 3 months of funding even without the GM. So no suspension required. If DN was smart he would provide alternative funding…or else look like a complete fool!"

"or else look like a complete fool! "

He would blend in so well then as this bb is full of fools that cant read and make stuff up pmsl

"The Board and its advisers had sought other financing solutions from a wide range of potential providers over several months"

So been at it for several months ? really ? Hmmm thats before the last fund raise ? what was the price several months ago ?

I firmly believe the company will not go bust either way.

"What the company hinted at if there is no alternative funding offered and a NO vote, is suspension of AIM trading and administrators put in to protect creditors. Shareholders typically get nothing"

The company hinted all that ? pmsl

I just read their RNS again and interestingly picked up on "The Board and its advisers had sought other financing solutions from a wide range of potential providers over several months"

So been at it for several months ? really ? Hmmm thats before the last fund raise ? what was the price several months ago ?

"at the moment we have an effectively full and final funding package on the table"

Wow Choochie ! Full and final funding package ?

So are you realy saying Resolution 3 and 4 are not so the board can issue another 500 million shares without share holder aproval to NON existing share holders before this December 2025 ? Because that is how I can read it wich makes me believe if they pass the resolutions further dilution will happen again very shortly. (but you may be right and I may be wrong) Pfff

"You writing for DN lol"

Who was that aimed at Latino stephen or Me ?

Stephen that is a well written Post. It deals with facts not assumtions

ThankYou

"FB2020, I’m quite sure that if David had failed in his attempt to secure a seat on the Board, he wouldn’t be commenting on the RNS at all. The fact that he has spoken suggests there’s more going on behind the scenes."

Amers I toatlly agree with you, but just for calrity i thought if he proves the point it is quite obvious the board are not acting in the best interest of the company. They have just tried to come across as angels in the RNS and from Davids reply you can see that it does not seem to be a fair evaluation of what has gone on. I have voted NO and I am not changing it

"Process matters: A director appointment needs due-diligence, NOMAD comfort, Schedule 2(g) disclosures, conflict checks, and usually either a board appointment subject to ratification or a shareholder vote. That can’t be done credibly on the fly.

No NDA / proof of funds = no seat: If a prospective funder hasn’t signed an NDA or provided firm, verifiable terms (and ability to deliver now), granting board access would expose the company to selective disclosure and legal risk.…

I don’t believe the board can give a seat without going through the correct processes."

You are 100% right Jimi. But but it sounds like he was being strung along for his money/funding. if they were serious they would have had a discussion between them selves, then they would agree or disagree. If an offer of a seat was viable they would offer in princible pending vetting and regulatory scrutany and then a vote. Considering Nugent has mentioned that vetting forms were given to him would he please answer if he failed or passed the vetting ? I like to think from both sides just incase Mr. nugent has failed his vetting and that is the reason ?

EC actually has a lot more than that, he could post a company statement via RNS if he wants ? Personally I like the call a GM and Poll vote and the Audit is a corker !

If I am wrong with the above info then please correct me

Key Rights for a 10% Shareholder

In addition to the general rights of all shareholders, a 10% shareholder has the following statutory rights:

Call a General Meeting: The shareholder can require the directors to call a general meeting (Section 303 of the Companies Act 2006).

Poll Vote: The shareholder can demand a poll vote at a general meeting, which allows their vote to carry more weight than a show of hands.

Circulate a Written Statement: The shareholder has the right to circulate a written statement on any matter to other members of the company, which can be used to influence other shareholders and directors.

Require an Audit: They can also require the company's accounts to be audited.

"Hi David,

To be blunt and to the point - if your pockets aren’t deep enough to fund the company and creditors take control in the event of a cash crunch, who wins? Seems like we’re all pawns on a chessboard."

If the board really cant get funding without destroying value then I sugest they try doing what every other company has done to save themselves. lay people off and cut outgoings dramatically until such times contracts come in from the NHS ? do some real wage cuts not "deferals" like they mention (probably in exchange for shares ?)

Thank You Mr.Nugent

It seems they are in a cage trying to claw their way out. The last part is interesting ref who the RNS statement was from ? Director ? Chairman ? Board ? Gino ? Russ ? etc. Not signing it off to anyone is Fishy as Fxxx . Maybe for legal reasons ?

I'm very concerned that the company is obviously dead set against bringing in a 10% owner on to the board unless he stumps up the cash to bail them out ? Is it because they are worried he will upset their plans or learn something detrimental to the company/share Holders ?

The Board need to man up and give the guy a seat ,he has bought the right in my eyes twice now ! (Even though not mandetory)

"Nugent said originally that the board would consider giving him a seat on the board after he provided financing, which nugent rejected.

Anyway, whoever is right or wrong to me is irrelevant because it's clear who has been stringing pi's along and IMO that's not Nugent.

SpanT

How I read it he became a 10% holder and asked for a seat and offered the possibility of alternative funding as well as contributing to the company if made a board member. It seams they wanted to use him for funding and would not offer him a seat unless he stumped up even more cash !

seams the company tried "bending" him over just like us.

"The voting cut off deadline is approaching so those that want to influence which way the wind blows over the next 1-2 weeks will better do it fast!!"

I Have just voted No on HL the cut off on their site is "Oct 9 2.00pm ET"