RE: RNS3 Jun 2026 09:59
Red,
The Board has already stated the "the company projects a small profit for the current year and expects sufficient working capital without needing to raise additional funds".
Whilst you are right that TB may want to obtain cheaper shares via a CLN, the nominal reduction was needed to ensure that the Kirkstall CLN could be converted into shares at 0.75p. Otherwise, a separate GM would have been required.
I was not happy with the Kirkstall RNS, as it stated that the settlement could be made at 0.75p or a lower placing.
Trevor Brown should be under no doubt that his performance is being watched by all shareholders in this financial year. Should a placing be achieved under 1p, I would hope/expect him to be voted off the Board at next years AGM. Remember, he is up for re election then.
The Board must achieve far greater revenue growth across all areas of the business. I will expect confirmation of that in the Interims.
In the meantime, let us hope new investors appear, wanting to take this company forward. Physiomics is an example of what can be done.
Kind regards
Phil