Member Info for GruffJ

If my maths is right, there around 83.5m warrants outstanding, which equates to about a 7% dilution if they are all executed and exercised. I’m not sure what the selling restrictions are on the warrants, as the lenders might be required to hold for a period. The debt was restructured and holding might have been included.

There’s a number of us on here who have been in for the long run and see huge potential now the new management team have their ship under control.

Once Seafox are out of the way and the warrants are done, the share price will be able to find its correct nav.

On the current trajectory the company could be debt free in a few years time!

Bocasefarm.....for every buyer there's seller! Depends whether your broker hit a price posted or whether posted and got hit....

Big tickets in the auction, hopefully we start to see some institutional buying now. With the limited free float (factoring in Saefox’s holding) shouldn’t take too much for us to finally get to somewhere near fair value. At the current deleveraging rate and increases date rates, the prospect of divi looks very realistic and would bring more interest into the recovery story. I was sceptical about the new management when they were brought in by SF, but they have done a v good job over the last two years.

Some decent buying again the last few days after the lull of the profit takers jumping ship…..onwards and upwards to fair value hopefully. I’d love to know where Seafox see a fair value as….

Ok Big Mac, what’s your 1st Jan 24 prediction? I’ve been in this name a long time and have a lot to sell! When do you think this rise runs out of steam, there’s been consistent buying for a while now.

Somebody must be building a stake, can only be a matter of time before a threshold is breached

Some decent volume through today, with reasonable tickets size, RNS tomorrow??!! This ship always leaks….

Looks like there will be some news flow coming soon……this name always moves first.

Morning all, has anyone run any numbers on this recently? I have to admit I’ve got a bit board with this one and just parked my holding in the maybe one day bucket! Always seemed like the leverage and financing costs where the anchor, is there some light on the horizon? ?

Come on…..share the info….

Much better volume today, the bigger the tickets the better.....I stand by previous comments of some insider action before any major moves, so will keep an eye on ticket size....good luck all that have been in this as long as I have !!!

Not uncommon for a placing to be executed at a premium to prevailing price on illiquid names as they are strategic investments. Even the last couple of days the notional traded is only c. £600k so puts into context what getting $25m away would take. Seafox have said they will take up their allocation which would maintain their percentage holding not take them above the threshold for mandatory bid.

Are SF free to bid whatever they like now or are they still in a closed window? I've completely lost track of the timings. Just wondering whether the BOD are dragging things out in order for a SF bid to be lodged at the current price. You would think this would pop if the finance deal was announced which would make a bid at 22p harder to get through.

£6k notional traded, such small lot sizes it looks like increased volume but in reality nothing is going through of any significance at the moment. Fully expect the financing news to be leaked before the RNS though.

I expect to see the price move before the RNS comes out, too many parties involved to keep a lid on it.

On £40 trading, the notionals are so low that it is impossible to read too much into the traded prices. 2 days until a further month extension most likely (I hope not though).

Not sure £10k in value constitutes a big buy or sell. Most of us long term holder on here have multiples of that.....

Reddit would help!

If you have Bloomberg and the right market access you can see the depth and breadth, obviously not dark markets.

Sunday is a working day in the UAE, so as usual looks like the BOD will leave to the last minute to make any announcement.