Member Info for itisagame

Actual values are : 3.03 to sell and 3.12 to buy, indicated spread is always wrong here.

I took it straight off the RNS, obviously minus any additional new losses as they tidy up the books for sale, but when it’s 3p / £10m mcap they have the small wiggle room of £220m and it would still be worth double.

Yep, if asset sales complete from 3p it’s got clear blue sky potential.

Post the $465m sale : “Net Asset Value Per Common Share 80 cents “= £240m NET assets, from £10m mcap there’s plenty of headroom for an increase in the £15m allocated closing costs and whatever losses they post.

+ The $30m disposal last week adds on top of this.

Also - the losses will reduce the tax bill, and could even potentially incur a tax refund for past taxes paid.

Just needs sales to complete.

“R&Q currently expects closing of that sale to occur in Q2 2024. In the meantime, the Board of R&Q continues to evaluate any and all options so as to realise value from its Legacy Insurance business for the benefit of all its stakeholders, including its shareholders, whether that be through the ongoing trading of that business or through alternative strategic options.”

Back to the last months advertised spread games, 2.71-4.00, last trade 3.2p.

Actual buy price : 3.184p

Actual sell price : 2.95p

Guess that makes it hard to spreadbet on from lows.

Expected a bit of a bounce today if im honest.

I did same, added more on Friday, now have buys ranging from 2.86-7.14p.

Would think $500m proceeds from of asset sales coming our way Q2 2024 would move the dial in the right direction upon completion..... but until then zzz

The GM is Monday, last day is 26th.

Up to 25p, dipped back to 17.8, looks to have respected the all time POC on the charts, which was 23p.

Beautiful trade Laura, very well done

23p is all time average price. Could well carry on as little volume needed to move it, tbh I’m quite surprised they managed to rise it this slowly and controlled.

If atom shares are used to secure the loan Theres still Net $12m coming in, and still only £2.5m mcap, (and that ignores the other assets) its worth much more to Peter than anyone else.

Still going, 18p paid, and the trading patterns of the week continue

Last I see was it mentioned in the interims, targeting 150%

“In June 2023, we raised $55 million of preferred equity, which was used to capitalise R&Q Legacy in order to provide reinsurance coverage to Accredited under the legal separation that was required to maintain the AM Best rating as well as for general corporate purposes. As a result, our Group Solvency ratio at 30 June 2023 was 169%, which is above our target level of 150%. Our total debt at 30 June 2023 was $333.3 million, which includes a bank facility as well as subordinated notes. In addition, we have $188.8 million of unsecured letters of credit that provide security on assumed reinsurance of legacy exposures, which are guaranteed by the Group. ”

So if this sale achieves “return the capital solvency position back to target levels” then it’s a good thing right ?

Target 150%

“The Sale will enable the Board to undertake a material financial de-leveraging of R&Q and return the capital solvency position back to target levels, “

If their solvency position target is above solvent then Sorely this is a good thing (price considered)

Watching the bid and its auctions it feels like many stops / spreads knocked out

Can buy at 3p now.

Not sure if bottom, but moved up to 3.08

Long auctions

Good or bad what we think, further asset sale but report significant losses

That will do me, saw 15p printed.

As I said I don’t want to hold the delisted stock, Has legs for more but a trades a trade, will watch and see what happens next.

Lol oops got my date wrong, GM Monday, 15th

Something else in different co was today.

GM at 11am. RNS should be out later with results confirming delist and then the buying for delist really starts.

Anyone else selling low 0.30s… Asking for a friend lol

Looking forward to seeing how much cash they actually have after liabilities/ wind down of existing assets, I think people may be surprised, should be more than current mcap if so the road to a 1p shell should be simple.

Even if it’s little cash left there’s £50m of retained losses which may / may not be valuable to an RTO target.

Didn’t want to buy again but talked myself in to here again, rude not to after the 300% day last time

Good Luck…

10.65p to sell, just keep on ticking up while all the background sells get gobbled up, Peter wanted to delist as market was undervaluing the stock at >25p, and then calls off the subsidiary IPO which would have had to been of >£6m mcap valuation on its own.

It’s like printing money from 4/5p lows.

Worse case it’s dealing with share certificates, but most platforms should have access to CREST transfers while still this is still using the crest system, logically…

I’ve had plenty of dead / delisted stocks moved from ISA automatically upon delist to a normal share dealing account but ive never actually sold them, they just sit there untradable but I could have requested them in certificate form

other people I have spoke to in the past have said a few emails / phone calls and setting up an account here or there has done the job for them to enable them to use the matched offer platforms.

this is a rare example of a viable company with assets delisting that the director wants to buy your shares in, to secure / further benefit his own interests, I’m sure there will be a way put forward to enable shareholders to sell to him when the time comes.

My money is on them buying up many shares after GM and before delisting, which would give me an exit I’m happy with, but anything can happen.