Member Info for itisagame

Transfer of Loan Notes and Standstill Agreement

Further to its notification of 7 May 2019, 7digital Group plc (AIM: 7DIG) is pleased to announce that a third party investor (the "Investor") has agreed to purchase both outstanding loan notes and entered into a standstill agreement with 7digital pursuant to which the Investor has agreed not to seek early redemption or conversion of the notes before 30 June 2019 except in certain limited circumstances (including a major equity issuance or the insolvency of the Company).

As part of this arrangement, the redemption notice served by one of the loan noteholders has been revoked. Notwithstanding this revocation, this transaction does not provide the Company with new financing. Accordingly the Board remains of the view that the Company will require material further equity and/or debt funding. It is likely that such funding will be required by the end of June 2019. Without such funding, the Company is unlikely to be able to continue as a going concern.

The Company is in discussions with regard to a significant injection of equity financing which is likely to be at a discount to the prevailing share price. However, there can be no guarantee that an equity financing or any other refinancing transaction will be completed, nor as to the terms on which an equity financing or any other potential refinancing transaction may be completed.

This announcement contains information which, prior to its disclosure, was deemed inside information for the purpose of the Market Abuse Regulation.

Yes sorry You are right, I misread your name, saw the £30 trade, read the comment - put two and two together, made 9, And thought he was back. GL

You do make me chuckle.
I thought last week you said that there are many better ones out there to choose from :)

O/T Put HUR in your watch lists and look where it is next month, been along 4 years but it’s about to finally produce.

Have you had any updates recently?

$70+ crude for a while now, if it stays like this the debts could nearly be paid off by the time the next bloody tanker payment comes.

One holding rns went from 7% to over 21%
I’m not in it, but it Might be worth a look.

One guy >21% holding. I think you are green today here.

Its all just guess work and a punt for everyone untill we see the results and get an update from the board with forward guidance, to much to keep track off with the disposals, mergers, contract wins / losses, large chunks of cash in and out, current outstanding invoiced customer debt etc etc.
Also Be nice if they also gave us an idea on what they want to do, how much they might need to raise, and why they keep having issues big enough to justify a market update via RNS for relatively small amounts of cash.

Not panicking at all, I’m quite confident 1p+ will be hit for my main holding (be nice to get to 1.2p to recover my first smaller trade in January.) but i also like to keep a few £ aside for the regular 15-25% trades, while keeping an exit price in mind for each transaction.

Got to love how they try to rob everyone blind.
Bid ask hits 0.4-0.45 and can’t get any quotes to sell even 100k shares
Drops to 0.3-0.35 and can sell millions.
Every time, every bloody share

It’s the nominal value of the shares ( ie shown in rns’ as “shares of 1p each in the Company ("Ordinary Shares")”) , they can’t raise capital lower unless they get shareholder approval to restructure the shares and lower the nominal value.

Also even a raise at 1p would be classed as significant dilution and possibly also need shareholder approval.

If you believe them a 100 trade - “ i need shares “

Nice little drop, just made £1k by buying in my Isa first thing and selling from a standard account instead of a bed/isa trade..
Can currently get quote to sell quite a lot at .52 atm, NT to buy £1k

Pfff NT to buy.

The key here is the FCA outcome, once the outcome in announced for better or worse the SP will move on from where it currently is.

I and im sure like many others am the fence waiting for this news, positive or negative it will create an opportunity for a good trade.

i dont want a bid to come, i want the company to operate at a profit this year and get to a position where they can pay me a fat dividend from the £6m+ savings in running costs they claim to have made recently which turned them to profitability.

mind you if it goes 1p+ next week that will do too, im happily de risked anyway.

been keeping an eye on this since loosing money in the spike at 1p+ when BTL was well in the money, i still think portr is a waste of time, would rather they spend the placing money on clearing the old convertible loan, remove black cloud and the sp will recover much better than the possible returns from portr.

Why was the Open offer back in Feb at such a discount to the closing share price the day before?

"The Fundraising has been conducted at an Issue Price of 2 pence per New Ordinary Share (the "Issue Price"), representing a discount of approximately 83 per cent. to the closing price of 11.88 pence on 21 February 2019, being the last business day before the announcement of the Fundraising."

Ooo interesting

thank you, E_AL, KenniGT

its just part of the default pages of the squarespace website template that they are using, got to admit its a bit unprofessional especially for a "marketing company" but so is having the widecellsgroup.com website down for weeks,and not replying to emails.

Be interesting to see what comes out the bag at the investor evening.

I only managed to cash out about 1.5m shares in the end, one sell order held the bulk of my shares all day and only it only sold 250k shares in the end, managed to trade it a bit on a different account with a lot less.
It looked like massive money was being made but the reality was a lot less as there was not many buyers at that high of a price to sell too, - that random 0.65p trade just after 4pm was mine but it was actually actioned in the morning.

chuffed to recover some losses made elsewhere on it, but I still have a reasonable holding from 0.2-0.35 there, I think 1p plus is possible soon even if it’s a spike but no doubt it it is a risky one, it could still go bust due to tight cash flow even if it’s assets and ip look undervalued.

Need to see the end of year results plus an up to date review on the business from the directors to really assess where the company stands, once it gets through the restructuring and cash flow settles it should be ok based on the savings they have made recently but you never know the real costs until it’s printed - the last £4m seems to have gone, and hope the results come out before July and they don’t get suspended again.