focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
It’s a £150k mcap company why do they keep deleting threads, it’s general chat.
If Someone approached Adam and offered him 0.2p for his stock, £25k, then call the vote off it would trade between be 0.8 and 2p until an RTO is announced, it’s down because of the risk of delisting in two weeks and a board pushing for that.
If they bought to vote for it they would have only needed a couple %, adam has 24%, after all why throw more than whats needed.
only 32m shares voted at last one, assuming similar result as most shareholders wont bother then they only need 8m shares to vote against the delisting (again) to reject the delisting.
So if PEEL want to announce their intention, and it is aligned with my view (i want a shell company, and it to run till september without wasting money on liquidators and MVL) ill happily give them 1m of the other votes they need, it would have been more but meh rough week shall we say.
and left the one titled "Lol another "p&d"
Suhail on twitter posted a link and i saw it, otherwise i wouldnt have noticed it.
circular here :
https://inthestyle-wp-2021.s3.eu-west-2.amazonaws.com/media/2023/04/Itsarm-Circular-26-April-WEB-FINAL.pdf
side note : BIH just entered an RTO announced after hours today, BIH had no cash before a CLN, so had mcap of £800k with £400k debt.
ITS is an attractive vehicle, save the cash instead of spending it on liquidators and advisors, and consider the 0.2p reinvested by shareholders.
peel and change have enough shares to block the delisting and MVL, and the connections to replace and put in a board who can persue a RTO, and the finances to back an RTO.
IF Peel are not just flipping / closing a trade out or holding and selling stock on Adams behalf then if could get interesting.
Tons of ifs buts, candy and nuts.
The cheek of the company to say its been costing £40k . month to run company, and then circular says £16k / month.
Only 1 place they can get 10% from in one go and that’s Adam, so maybe another tr1 in pipework
I know peel have suggested a few rto projects to other companies, there could be a ray of light after all
Cat among pigeons
Difference here is it has cash exceeding the liabilities +mcap and is / was technically a shell ready for inserting a company in to.
But it has a board that has always don’t the opposite to what they should do, one month as a shell and call it quits, they are taking the mick, there are plenty of companies wanting to RTO out there,
Theres atleast a dozen projects kicking around that were looking to or currently processing an RTO into a shell, shells with £500k-£1m debt, where are here there’s already some (yea not much) net assets / cash to hand.
I see one last bounce, or a surprise coming before it goes.
i took the gamble on them running it till september without returning cash to shareholders, i also expected 2 sit in directors to cost far less than £40k a month. i didnt expect them to announce shutting shop next month, after a shareholder vote to retain the listing
There is plenty of cash to run it to september as a shell, them opting to delist instead is terrible.
Makes it was a pointless vote last time if they are going to just proceed with what was voted against last month, and the additional one month trading hasnt cost them as much as the difference between initial MVL est and current MVL est.
£5K for a TR1 anyone? Risk the £2k for a double, or get a return of £3k
Any takers lol
I can sell at 0.2933, I added <30
If I lose 1/3rd more so be it. It’s £150k mcap shell now.
Dream scenario : just need different board members, get someone else on, mention targeting lithium / mining / oil whatever and it 10c in mcap from here.
£170k mcap and they say they doubt they will pay out £100k.
When they have £500k, and will be due quarter mil VAT refund against all these ridiculous legal fees and bs they paid and are paying out
As at 25 April 2023, the Company had cash of £516,000 with current contractual liabilities of £231,000 primarily relating to one-off expenses incurred for insurance and advisory fees during April 2023.
Joke.
No mention of vat refunds which will be due.
They are all doom and gloom
nearly, if i traded a bit better i would have had a TR1 here and might have added a bit of spice to us, (yea i know £9k not hard i just dont want to pay for one with capital, only profits lol)
I only say becasue theres only a few of us trading it here, im not one of them "oh i sold ages ago in the spike" types lol
i gave ibpo a go, but didnt sell it in the friday rise when up and then held too long so was down 50% at one point yesterday,
fortunately today i ended up +~30% which is now here, for now, was a bit miffed the spread moved after first buy or id be >1m now, 30k shares short haha.
Back with 200k more shares.