Member Info for Globex

The challenge is they have a maxed out £32m RCF that has October hard deadline expiry. No news of any renewal means banks playing hardball. They must be very close to - if not already - in breach of minimum liquidity covenant. Then you look at current market cap. Can't see maths stacking up for a raise sufficient enough to salvage this. Or at least one that doesn't wipe out current equity.

What I found particular interesting was plight of those founders who sold into and took the S4 equity option, either in part or in full.

Telling those acquisitions peaked in that 2019-21 period, when share price also peaked, maximizing their losses. Behind every buyout there will be plenty of human stories of companies built up through blood sweat and tears. Not something that ever gets talked about there, but a reminder it's not just average joe shareholders who suffered losses buying into the Sorrell myth. If anything far worse for those founders.

Usually Linkedin is dreadful for this type of stuff but that first link was excellent, thanks for sharing. Clearly from someone with industry insight and realistic about the structural threats underpinning the near total value destruction here.

Ouch only the one bid for RevB. As we know Boohoo barely have a pot to p*ss in so no surprises they couldn't bid but you know it must be bad when even king of retail distress Ashley didn't offer them so much as £10 and a pack of pork scratchings.

A bleak assessment Porsche1946 but hard to disagree with any of that. In shorter term entering FTSE100 relegation zone now which won't help matters.

On the bright side could be worse for anyone invested here - at least it's not S4 Capital 😜

And yet despite all those riches old Sorrell was still keen to put 'extra curriculars' through company expenses, allegedly. Funny old world isn't it.

Maybe from a site visit it was fumes from all that lovely thermal coal

No sign of any catalyst to turn this around, as mentioned before the company is becoming obsolete.

Next prediction: incoming CEO will launch a 'strategic review', more job cuts, look to carve bits off for cash to stem the decline to shore up the weakening balance sheet, but PE only interested in best bits so that means tough decisions to be made about more family silver going. She'll also make lots of noise about AI/tech, some people will probably think a turnaround is happening based on that, meanwhile unstoppable revenue drop continues. Ultimately this is a business in terminal decline.

Moulding banked tens of millions when he dumped shares onto mug investors when this IPOd at 500p. The plc has paid him tens of millions more since then for properties it originally owned. He's no victim, amazed people still fall for his poor me stuff. The Linkendin rants are getting increasingly deranged and are poison to the share price. Let's not forget share price is at the root of everything - and just like any other company is how he should be judged as a CEO.

Coal and metals needs to be two separate businesses. Time to revisit plan to spin off the coal to its own US listing. Give investors portion of both companies to make own call, meanwhile use cash injection from selling stake in coal to expand metals and pay down debt.

Telling how he was happy to put the price of this divestment in big lights, but not for any of the other previous giveaways like ProBikeKit, Coggles, Zavvi etc.

Based on this guy's form absolutely nobody should take what he says as having any credibility

Time for the reversal, this was way oversold

Shrewed_mole has really embarrassed himself here.

Agree with that. I do like the company and would like to invest at some point as believe it'll bounce eventually - but what is quite striking and not helpful for market confidence is that majority of RNSs since IPO seem to be various notifications of insiders selling.

That's obviously aimed my post given you are quoting me - but I am not trading here, this is an investment for me. This has been a firm hold for me since 0.5p - you can check my post history. In fact I am certain I've held longer than you and will continue to hold long after you've gone.

I imagine the CEO appointment news will come soon. If it's a tad late no biggie in my view, due diligence and all that takes time, that's life really. Better to be sure on candidate. Worth noting it was outgoing management who made schoolboy error of giving date - I see the company as undergoing a big upgrade and with it better quality personnel, of which new CEO one part of story.

Good news - the government are cracking down on these rogue firms

https://www.bbc.co.uk/news/articles/c4gq204x4v2o

You've caught the interesting bit tooldforthat, coupled with the prominent mention of institutional capital, has to be a clear statement of intent.

All signs point to them having targeted big money here, and the event no doubt one part of that. Look forward to seeing results unfold.

There is some news of sorts (at risk of jumping gun as they are clearly still adding to it) new website/domain https://www.bmvbtc.com/

New tagline: "Backed by gold. Powered by Bitcoin. Designed for institutional capital."