Member Info for Globex

They are still free to raise, see resolutions 6-10. Resolution 11 which failed only related to granting of share options.

Yes the trading venue is absolutely no excuse. Gsk and Astra more than demonstrate London is perfectly capable of valuing pharma/biotech.

The market has punished OBD because of its performance, not because of where the shares are traded. If anything it's doing very well being valued at £19m - considering revenue is near zero, insider selling, questionable management, not to mention considering that the company itself has warned there is material uncertainty over its ability to continue.

Could just be based on information already out there, natural the CDT delisting notice and its share price halving in a month will continue to be reflected here.

No wonder IIs voted in favour of the board when the largest one curiously seemed to know exactly when to buy and sell. No wonder they'd want that cosy relationship to continue as long as possible.

Vela should sell it pronto while the shares are still trading. Hard to imagine it staying solvent/listed for long. There is no way that ends well.

All very odd right from the start, looking back to old RNS when they (sort of) announced the investment, have you ever seen sh*t like this? https://www.lse.co.uk/rns/VELA/statement-re-potential-investment-in-truspine-az2jnnv4i69x5t0.html

Something definitely doesn't add up as to why they bought in, this goes beyond just incompetence.

Yes Apollo bid was real, don't think anyone has denied that, the number remains a mystery held by Moulding and co, not known to wider market.

Agree about the Belerion bid being fake, only got to see their financials to see they barely have a pot to p*ss in let alone pay £2bn for this. That's before we get onto the conflict of them having a representative on board at the same time. Candy likewise, Times did an expose on his curious appearance here and bidding for Chelsea lol, despite lack of necessary liquid assets. There is a convincing argument that suggests these were all part of a fit up to try and get a 'real' bidder out in the open, only nobody fell for it.

What first got me thinking about a stitch up was Lansdown (normally the quiet one) spoke to FT just before new bid appeared saying price "not main consideration". Easy for him to say! It seemed very odd to roll over at that stage and effectively talk the price down before final bid appeared - unless he knew he had his own sweetener coming.

Meanwhile I would have thought for every other shareholder the offer price would be a pretty massive consideration.

https://www.ft.com/content/fdb48c99-3ab4-4301-bbe4-33e57d175b2d

You're correct Kong1, operating loss £5.99m. No sugar coating these numbers.

Might as well send in your CV Kim, can't be any worse than the current lot.

If you are in your 20s, female, graduated from red brick uni (nothing posh or southern), and have some guff on your bio about being good at PR and Tiktok, welcome to THG. Please enjoy your complimentary iPhone 15 Pro, lattes and spa days. Remember not to set a bad example by talking about anything commercial at all.

It does seem like a bit of a stitch up and a disappointing price.

Would not be surprised if the "unlisted acquisition vehicle" was an engineered workaround to get the founders on board and exit at a premium later on. Up to 35% would more than cover their combined holdings. Meanwhile no PI will want to hold something totally illiquid, and most funds in now will not want or be able to hold anything private.

Will need a white knight now but you'd think surely a big US equivalent like Schwab or Fidelity would be interested. Even within UK Lloyds are looking to move into this space and would surely love to have it as a bolt on (although in their case I guess affordability another question). Then there's possibility of competing PE firms.

Overall you'd think at this low price surely someone else will have to bid.

Jimmy_Stocks fwiw I like and hold a bit of Applied.

Upside for me is it's less exposed to btc price than pure play miners (I hold those too), but same exposure to infrastructure which obvs in mega demand at the moment from AI arms race.

If you compare the ratio of MW to enterprise value vs any other miner, it's far cheaper - as you'd expect without the btc premium. But I believe that discount will narrow because machines (the only thing that differentiates it from a pure miner) are abundant and fast depreciating, whereas these US sites finite and take years to build and go live. Plus grid hitting capacity means approval for new sites will be increasingly hard to come by. Easier for someone to just by the company.

I went big on Corz for similar reasons, but caveat is this time market is already alive to AI data centre needs so lightning may not strike twice. Another big caveat is it's already up 100%+ from lows.

In the interims last week they reported NAV of £803.1m which equates to ~312p per share. Applying a 10% discount from that seems reasonable to me, on account of Crest's operational issues, and to more than cover any unknown provisions. So I agree with your numbers.

I see this bid as win win for both parties - Bellway get to expand in the south and a big landbank at a discount, to offset their north heavy operations.

Crest shareholders get the obvious fast track premium from the bid, or by staying invested if the merger happens, the benefit of synergies/cost savings from scale as part of a larger group.

@Cong the point is there is no evidence of their position changing since then. The Times article mentions 1.89%, consistent with the holding reported in form 8s last year and this press release from last year. The Times will have fact checked the number.

It would be a bit odd for them to turn vocal activist if they'd virtually sold out.

Meanwhile on the counter side we have a totally unsubstantiated claim they've reduced to 0.31%. I couldn't care less if you believe that, but there is no evidence for it.

@Dg221 Their own press release supports the number given by the Times, so I am inclined to say you are wrong, sorry

https://www.businesswire.com/news/home/20231208382131/en/Statement-From-OVMK-Asset-Management-Netherlands-Regarding-the-Recent-Publications-on-THG-Plc

It's pretty ludicrous to talk about an what an investor in a Turkish real estate company has said on youtube. It's so self-evidently unrelated to S4 as to be irrelevant. I hold shares here too but really come on, this is the kind of low grade stuff you see on the board of a basket case aim stock. Maybe you should stick to youtube comments instead?

The value of a Turkish real estate company went up, therefore S4 will too?

Ophorst still hold 1.89% according to below.

https://www.thetimes.com/business-money/companies/article/shareholder-steps-up-pressure-on-thg-chairman-83phffg07

Risk of good money after bad. Maybe better to wait for next raise, until that happens it's an overhang now market can see horrific cash burn continues.

Burrows must have been reprimanded over his claim last time of "significant non-dilutive funding", only to go to raise immediately after. This time warning of their material uncertainty over their ability to continue as a going concern.

You know things are bad when full year revenue is lower than his pay. Really he is very lucky to still be in this job, and the company is lucky to have not been penalised by regulators for misleading the market.

At least there are no rampers left on the board. Even they can't hide the fact it won't be long before the begging bowl comes out again.