The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Rock8 I really don't know sorry. I missed that line apologies .
I think ultimately JD will hold all the cards . The Company is losing £1.5M a week so £20M will last for around 3 months.
So it will either be going goes to the wall or the shareholders accept the funding at a very material discount.
So the way I see it private investors are screwed all ways.
However, the Company remains in discussions with Julian Dunkerton in respect of alternative structures, including a possible equity raise fully underwritten by Julian Dunkerton, which would provide additional liquidity headroom for the Company’s turnaround plan. It is expected that any equity raise would be at a very material discount to the current share price, require shareholder approval of a Rule 9 waiver (as referred in Note 1 of the Notes on Dispensations from Rule 9 of the Code) and be conditional on a de-listing of the Company.
Having re-read this it means new Funding would 100% mean delisting
I think that was it. The fact it went to the very last business day and the 11th hour to issue the RNS (well more than one) was the sign it wasn't going to happen. And holders had the chance to bail yesterday. It was unusual for there to be any updates or pressure speculation and if it was going to happen it did not have to be left to the wire......
Probably would of happened much sooner if the money was there. It clearly never was .
Not that JD cares. He and family will still be living the luxury lifestyle whereas real investors on here in some cases will loose their shirt!
And btw I've never shorted here. Done a couple of trades and made a few hundred. And I took a barrage of abuse but the reason I posted so much was Thier were so many that could only see a positive return and would not listen to the other view point.
I normally finish with GLA but it's too late for that.
What's done is done this is finished .....
It stressed that he was still talking with the business about other methods of financially supporting the group, including potentially underwriting an equity raise.
Superdry said such a move, which would be “at a very material discount” to its current share price, would provide more financial headroom for its turnaround plan.
If the company do not issue a further RNS with the funding plans and placing price unfortunately it's gonna be a bloodbath. Stops will be smashed through and PIs like lemmings heading for the exit.
The Company have effectively locked in PIs with this after hours news. Absolutely disgusting for holders
Monkfish I'm not sure it will necessarily drop more. I mean it's already had 2 significant drops. Market pricing in the worse.
Let's hope the measures announced and enquiry are not so majorly punitive . The announcement after April 11th would have an investigation period of 18 months so a long period to go through. But with the company making more acquisitions in Australia will hope to offset some of it?
Rayte,
Unfortunately in these situations Shareholders (PI'S) are at the back of the queue. The big holders, banks, loan companies are now in control.
Believe me Hilco Loans will be at no risk to them and on there terms.
Rayte
I think based on my experience (haven't got a Crystal ball) 8 to 10p.
Placing price can't see anymore than 5p now. People are not talking to much about Hilco Loans but the terms are terrible. Very high interest. Company is on its knees sorry to say.
I'm not going into a long told you so post as not needed but I could NEVER see JD paying a premium for SDRY. He was always going to reverse in and get it on the cheap
Morning Mary,
Great post. Good you only had a smaller holding and loss wont be as heavy as a few on here. Thanks for being so transparent. Fortunately I didn't hold here yesterday. In the past I took a big hit on Tullow Oil. Bought at something like £1.50 on the Friday and the Monday opened at 71p where I was stopped out. Shares settled around 40p. Lost around 10k there.
So yes every investor has to take the punches and will have a hit along the way.
Have a good weekend
Morning all,
Had a good read back through previous posts and interesting that PI'S been buying around the 1500 mark in the hope shares go back to £21. Alot been buying on way down.
Shares closed yesterday at 977p. Seems a hell of a drop.
What's the view from LTH'S on where the SP goes from here?
Also do you think they could be a takeover target now?;
Don't see many posts of PI'S buying ATM. And price seems to be in the 970 - 1050 range bound ATM. It can't seem to sustain any rise....
The Company is effectively insolvent.
Debts of £28M I believe, £20M Hilco loans approved at extortionate interest rates and the market cap is £28M.
You can see JD was never going to pay £100M ,£200M or even some posters said £600M.