Member Info for Highside

Not on proactive, i wonder if its bee let slip early ?

interestingly its not reported so far on ADVFN

Be careful Grappa, if it doesnt go through expect a very quick 50% dilution. £100k wouldn't even cover the cost of the placing and at the very least would be well below the "we need a placing" trigger figure.

As i said to Bricks yesterday Denarius, if they go ahead, will be committing to a fair amount of finance over the next few years. Basically taking up the baton that got too hot for EUZ

Fair enough but i cant think of anything much more relevant to the EUZ board at the moment than Denarius :-)

Ha, bad luck Brick but at least its only 10:1 not 500x1 :-) but if you are buying in to Denarius ! would have thought the pending cash raise if the JV goes ahead would be more of a concern ? especially given Denarius's commitment then to continue to fund the JV for years to come.

Also when you say
"It requires shareholder approval!"
You just made that up..lol

" It requires shareholder approval!"
You know full well shareholders cant vote this down because of the ridiculous set up ie: no vote is a vote for the resolution.
first it requires approval and compliance by Denarius, so as i said In fairness you cant really sell the upside of a deal until its signed because you will look a bit silly if it then wasnt signed.

In fairness you cant really sell the upside of a deal until its signed because you will look a bit silly if it then wasnt signed.
That said any lack of PR or promotion of the asset is hardly going to come as a surprise but lets judge then "after" its signed.

" then the follow up email was condescending and patronising."
Just block his email account.

Snap Grappa. :-)

Crisp, why do you even bother to post ? 95% of what you say in nonsense. its just plain ramping which IMHO is worse than the de-ramping you accuse Bricks of.

I may not be Bricks best pal but he has a right to an opinion just like me. and both of us are a lot more experienced with EUZ than you so have a little respect.

The point is who will buy with a threat of a 50% dilution hanging over their heads to finance another project when they should be all out on this one ???

The point is that yes they went a year because they did a large placing, quite possibly when they didnt need to, and then stated they were funded for a year...so its hardly surprising they went a year.
But... they also said they were only funded for a year if they didnt make an acquisition. Well the year is up and they say they are still reviewing possible acquisitions so we have to assume these acquisitions are now no longer funded. And that pretty much makes this stock toxic as we are seeing daily.
what other companies have done is pretty much irrelevant as Management, funding. sp. brokers , sentiment and assets are all different.
One other point which i cant even be bothered to mull over is..at the moment EUZ 100% owns Toral and Toral is EUZ. If EUZ wants in future to dilute 50% what does it dilute ? 50% of 20% , the day EUZ signs away 50% of the asset what happens to the EUZ share price ? I appreciate they get a lot of cash in but we have also seen a lot of cash (£10m+) go out recently and our investment knocked down 75% so cash in doesnt mean the shareholder actually see's any of it. We could end up strapped for cash again and only owning 20% of what we do now or worse. in Debt with another money sponge in the EUZ portfolio..
There are always pro's and Con's :-)

Ignore him Bricks. he would pass even a total collapse of the company as a positive move if he though he might get 2p back :-)
What he is saying is resolution 3-4 are the there in case the management want to buy something that they cant afford.....It would be impossible to vote this down either as a proposition or as clause 3-4.
IMHO this desire to buy a project without explanation or funding is causing more damage than its worth. Especially now Crisp has muted it could be funded by another 50% dilution. The further we go with toral the further away and sort of return seems to get.
Of course if i am wrong then there is nothing stopping the BOD explaining their strategy and financing in a way that would enhance the SP rather than continually knocking it.

So basically its just another way of diluting up to 50% without holding a placing.
the bi that always gets my goat is
The Chairman intends to exercise all undirected proxies IN FAVOUR of Resolutions.

You would never get away with that in a democracy. Imagine if the government said we will hold an election and anyone who doesnt vote will b e deemed to be voting for us ? ;-) Its the sort of thing Putin might say.
I sold a chunk the other day and will sell some more before the end of the month i think. I still have too many of these and the goal posts are moving rapidly with too much uncertainty..

I would take it to mean , issue shares in payment instead of cash ?

Grappe
My view is, and i will probably be shot down for it, is as no one really has the foggiest what is really going on we cant really draw any conclusion.. yes we have the outlines of a JV but at this stage it cant add value and hasn't.,
Management obviously have a plan beyond Toral because without it Europa doesnt exist. that might be the message they are trying to put across with this ongoing look at other projects. ? if they really are looking but without finance its hard to believe. If they are looking it must be for something thats generating an income as they will need to borrow against it so it needs to be ready proven. but thats just a guess. I dont see a short term conclusion because even if the JV goes ahead all eyes will be on Denarius ability to raise in the Spring to keep their promise. In the meantime we may be running on fumes.
If the JV falls through it will be tin hats on chaps and probably goodbye.

Management said just over 12 months ago
General working capital : it is anticipated that the net proceeds of the Fundraising will provide approximately 12 months of additional working capital for the Group excluding any expenditure in respect of potential transaction opportunities.

So basically they dont have a reserve float of cash for acquisitions. they have pretty much costed the JV by which they have accounted for most of the money to be metered out over the years.
A placing seems unlikely because the costs ( if they could find any takers) would be a large part of the small amount they could raise at 50% of the Mkt cap.
They are either leading you up the garden path with talk of more projects or are actually considering another placing which would knock your holding by 50% to raise £5-600k and putting 12p almost out of reach and plunging this too a value that the pointless consolidation was supposed to avoid.
In my honest opinion its fool hardy to talk and actively even consider acquisitions unless you can present a very good reason including basic finance in advance because if you dont you leave the threat of dilution on the table and there is no bigger turn off for future and current investors as the SP chart shows.
One other point. this obsession with other projects pre dates any possible money from a JV.

Thanks Bricks.

Do you know what ?...I give up :-) the Denarius proposal is in USD, the Accounts are in AUD The company is listed on the UK exchanges in GBP and its expenses are mostly incurred in Euros. ...with 4 constantly changing exchange rates.

I dont like not understanding the current financial position and trying to guess with only half the figures. I think the danger of a placing is real and the danger of the deal not going through leaving this broke with no way forward is too great now to ignore. If they have financing to even contemplate another project they should either explain or stop leading people on.
i think the risks now are too great for me and it might be better to walk away while i still can. Room for one more Bricks ?