Member Info for Ironic

Being as you ask ....they all received legal letters from Rainmakers solicitors reminding them they have a legal requirement to support MTMY in this purchase . A legal threat to be sued if they don’t provide the backing . All the stalling is to make MTMY default so they can get TI to sell at fire sale price to recoup some money then chase MTMY for the rest . In my oppinion .

I believe the RNS states $3 million a year in intrest to be paid to the Bond holders , back dated to 1st Oct 2018 . $3 million in intrest nothing actualy coming of the $50 million Bonds just paying $3 million a year in intrest . How long till the Bond holders achieve the default they claimed had actualy happend ? .
Any other debt payments eg overdraft or bank loans ? .
If they can sell team Internet at a profit the Bond holders get the first bite . Anything else is divided between the two markets . The Bond holders obviously don’t see the value or just want their $3 million a year as long as possible .

Looks like the Bond holders want MTMY to default so they can get out of their obligation to buy the remaining 10% TI shares . Part of Letter in RNS ....”The letter also states that as part of rights and remedies available to the bondholders they are entitled to declare an event of default under the terms of the bond and an immediate repayment of all amounts under the bonds.
The Company also provided a copy of its response letter, which reject these claims, lists various defaults and violations of the terms of the bonds, explains that despite various statements, currently no event has occurred

Bigdano ....what you say is correct BUT 5p is not the offer MA said he would be willing to negotiate and quotes 5p as his intended price . So if a formal offer is made the negotiating should start at 5p ...start at 5p . Down side there is a penalty on the finance MA wanted to avoid so he may start talks at 4.5p now . But that will be his opening offer . We will all know soon enough . Main question is will I manage to get a decent top up on Monday ?

If Brandes Investment Partners, L.P. still hold 10% and buy more then MA could buy them of them for double protecting their original 10% from being zero . Win win for them . Then MA would hold nearly 60% of the shares and a compulsory purchase at year high paid 21p would probably work out cheaper than a offer . So a increased Holdings from Brandes Investment Partners, L.P. on Monday would be great .

With a Take Over looking very possible if he can buy of another big holder ....21p a share would break many a shorter or spread better .

So 29% held . If you had a big holding and knew you might lose the lot and MA approached you offering you 6p a share would you take it . Or give me your shares at today’s price and your on the board with a wage ? . If he can get upto 50% bythe backdoor then pay year high price for the rest 21p roughly . It would be similar to offering 10p plus he gets the market slot up and running . Might be the easiest route now .

Not quite a photo copy . The bid is not set . It can still increase . Flyb climbed over 400% after the deal agreed at one point . So this has far more potential for mad swings than 400% . But yes I agree and have pointed out the similarities for a few days .

The holdings RNS surgest he is trying to keep the SP below 3p . So he can offer 100% over the SP . He needs to do it soon .

Are sports direct trying to controll the SP . Odd buys and sells again !

Both articles show the difference a few hours can make

So ODEY hold shares and are shorting as well ...today’s RNS . So they look to need 30 million shares to add to their holding to close the short . Tight squeeze .

The stores stay with the owners who are renting them out . He will buy the remaining 69% of the shares and use all his out let’s to sell each other’s goods on line .

Shorts are going to pay through the nose .

This will be traded . But another 100% first .

If it’s a Take Over within 3 weeks it’s 21p . So a bigger offer is more likely .

Some people are so embarrassing . Lol .

Interim measure untill MA makes a cash offer and changes the second half of the offer eg removes it . He can’t take over below ( looks like 21p a share ) untill after 18/4/2019 . So a 6p to 10p a share offer looks good . He can’t stall it 3 weeks the BOD have seen to that .

Game of chess . Un less the SP go’s above 8p and holds there . By the time we vote on a offer he will be out of the 19p ( I think ) Take Over price and would take over cheaper . 3 weeks to play chess .

The BOD are trying to push this NOW because on 19 April 2019 if SP is low MA will just buy a few shares and compulsory take over . But the BOD are trying to stop that option by forcing the SP up for a compulsory take over share buy out . They couldn’t put it of any longer . Game of chess .