Member Info for itisagame

I’ve set myself limits to position sizes and am at that here, or I would add.

But boy am I fighting that urge to brake a rule I’ve put on myself.

Still think it bounces to 2p once all is done and placing settles, and then onwards with developments.

A small Billy bonus when that $210k comes in, who knows maybe come end Q1 it comes, maybe it doesn’t.

Welcome aboard the copper express Ria.

Another observation :)

got to be the company selling the treasury

Unless naught naughty forward selling which is brave when still a conditional placing, and against the rules ;)

“Few chunky trades for Cmrs going through, 2m after hours last night,1.75m and 1.2m today, placing churns maybe but ~10% of company-while the placing is still conditional and not officially done yet

Only the company & directors company that is buying more,that hold >3% atm”

Is it feasible that the company has been selling its treasury stock, to market - at higher than the 1.25p, so may either raise slightly more or sell slightly fewer shares.

Ahh yes, morning of. 👍

Well good luck either way.

Hi, Flying comment, shares take 2 days to settle so anyone buying tomorrow or thursday risks not being on the register at close Thursday.

buying on 20th - shares settle 22nd.

buying on 21st - shares settle 23rd.

Maybe 1.25p churns the placing flippers, like most placings could dip below slightly, but just as likely rise on an rns, after hours someones sold or bought 2m which is currently 4% of the voting rights / 3% of current issue as placing not finalised.

might see a TR from that unless its brokers who took stock from cropper still selling it in to market.

Financing of the Purchase Price

In support of Onex's obligation to pay the Purchase Price, Onex has provided an equity commitment letter up to the full amount of the purchase price.

Was an interesting read yesterday, Lots of angles covered in the proposed sale rns. , nothing to indicate it won’t eventually that I’ve seen yet. (But that’s not to say it will/wont if anything comes up)

“In the event that Onex fails to pay the purchase price under the Sale agreement following the satisfaction of all of the conditions to closing, R&Q would have the right to enforce the equity commitment letter for the payment of the Purchase Price.“

Ahh, gotcha. Thanks, fingers crossed it completes then.

Just looking at Onex, i see its near highs and in its reaults released last month also states :

"Onex Partners V’s pending acquisition of specialty insurance company Accredited, from R&Q

Insurance Holdings, received approval from R&Q’s shareholders. The transaction is expected to

close in the first half of 2024, subject to customary closing conditions and regulatory approvals"

Guess its all about whoever has access to cheap funding can make it viable, if not you cant..

If you dont put risk management in place you can always lose*

When it listed 3 years ago (to the day tomorrow happy listing birthday 19/3/21) and you can buy at the lowest it has ever been, at £1m mcap (enlarged post placing), after its put £8m in to progressing any parts of the company there is a good chance you might have a chance to make some money - even if on just a bouce, like on its last raises - or worse case atleast lose alot less than anyone who bought in the prior 2 years 11 months and 3 weeks. the odds are in the favour more now than buying it at 3p+, if you dont put risk management in place.

And as a bonus for that £1m mcap -just raised £250k, plus whatever cash it had left in its bank, plus the $210k outstanding which could land at any time.

Its just a trade, not buying to take over the company :)

So what am I missing?

If the sales complete they should be 30p+ based on NaV,

if they dont complete - well the company was worth 60p the day before announcement to the market.

Whats the catch ?

Wow, to go from 9 months ago, raising at a premium, to 5-7p now, that’s one hell of a hit.

“12 June 2023

R&Q Insurance Holdings Ltd, (AIM-RQIH) ("R&Q" or the "Group"), the leading non-life global specialty insurance company focusing on Program Management ("Accredited") and Legacy Insurance ("R&Q Legacy") businesses, announces a capital raise of $50 million of non-voting, perpetual preferred equity issued by Randall & Quilter PS Holdings Inc., an indirect wholly-owned subsidiary of R&Q (the "R&Q PS Investment"), from investment funds affiliated with one of its largest shareholders, Scopia Capital Management ("Scopia"), with the opportunity to increase the amount of equity raised to $60 million. The preferred stock will, in certain circumstances, be exchangeable at Scopia's election into new ordinary shares of R&Q at 60.98p (representing a 10% premium to the 20-day volume weighted average price prior to the date of the Agreement).”

Actual spread is 6.73 / 6.94.

You peak my interest again Laura, Seems to good to be true, but stranger trades have played out, I’ll have a dabble. (7.1p)

I Expect there will be a thorn somewhere, like the remaining assets being toxic or something but the numbers seem huge for mcap, maybe it’s just a long long overhang of II selling off at any price from the drop in sept

Once raise is finalised :

expect TR1 officially announing the director / KM Securities buy,

reitterate the 2,666,667 shares remaining held by company treasury,

maybe a new party TR1 from placing as a TR1 is only £28k,

updated number on Total Voting Rights / shares in issue.

Fully diluted share capital should be 86,136,684 (inc outstanding 8,283,174 warrants, 4,400,000 director options )

With a float of 73,453,510

12m owned by KM Securities ~16%

~60m in free float.

Numbers Plus or minus fees.

Trafigura?

Loop is delisting at end of month guaranteed, and it’s very illiquid, the chance is there but the only pump is the 1.75p raise AFTER it delists, which makes the trade unviable for most but +\-50% potential I agree before delist.

Ps Nothing wrong with derisking and securing an all round win, the spam here is annoying me so I won’t add more to it :)

Let people enjoy the win, New funds will secure the company, at whatever it needs to be raised at so be it, it’s not a bad thing, it’s a god send for the company. Get the legacy issues resolved and it can move forward on its own merits. Vs The alternative is nothing for shareholders it’s an obvious choice.

“As a result of this, the Board has been exploring raising additional financing. The Board has considered debt and sale/leaseback structures but has established that these are not available to the Group. The Board has also been exploring raising additional equity financing and these efforts continue. However, this process is taking longer than anticipated and, whilst the Board has continued to manage CAP-XX's working capital, the Group is now in a highly constrained financial position as highlighted above and requires additional financing by the end of this month.”

Well done 👏