RE: Hawkshead5 Aug 2018 13:12
Absolute rubbish. You're not only lying about having mates in the City, you're now lying about buying at the bottom.
I've flagged this as a weak sell because of the poor management. They've had 9 CSD partnerships of which 2 have terminated and 6 haven't launched, with the only launch being in a minor area. They've said they will sign a MED deal for ages now but still haven't explained why they've gone way past H1 expectations.
It may be that FUM cannot reach agreement with anyone over MED so they'll need a significant amount of money to get it through Phase 3, so no deal will mean a further placing. If so, major shareholders might have been approached therefore there's a possibility of forward selling into such a placing explaining the gradual SP fall. Because of the constant failings, only a heavily discounted placing might be achievable this time round which by my estimations could be a 20% dilution, with no guarantee of Phase 3 success or anyone taking on MED. FUM is still very very high risk despite all the ramping on here.
As I say, just a weak sell recommendation because there is an outside chance that a lucrative MED deal could be struck. So no de-ramping on my part and no need to pretend I have mates in London, it's pure solid knowledge of how the Market works. I know my stuff.