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Further to its announcement on 23 March 2023, the Company is in advanced discussions with a view to commissioning an independent report from a professional services firm for the purpose of reviewing certain related party issues (which may or may not fall to be treated as related party transactions under the AIM Rules). The completion of such a report is a pre-condition to the finalisation of the Company's audit process which is estimated will take a number of weeks.
On 6 September 2022 the Company announced that it had appointed Lazard & Co., Limited to assist with a strategic review of the business. This process has now come to a conclusion, in relation to which Lazard has terminated its engagement.
SO they havnt "completed" the strategic review?
or did Wickes not like the answer he was getting from them, hence the fund raise.?
no one voted for it to be called ITSARM right? so that vote is null and void yea lol
It has come to the attention of the Company that on 7 March 2023, the same day that the Company announced the conditional sale of In The Style Fashion Limited and the proposed name change to "Itsum plc", Maxrs Ventures Limited changed its name to Itsum Limited.
NB - i should have read the actual rns, we are now ITSARM PLC, i was laughing to myself at the time, i didnt expect them to screw up something so simple, why not have called it ITSHELL PLC, because for many it has
IT SHELL PLC
https://find-and-update.company-information.service.gov.uk/company/13245400
LOL no they actually called it ITSARM PLC at companies house
Lol cue another correction RNS then, make us feel special.
^ this is the quality of the board and nomad / broker, can’t even proof read
Itsum a joke.
The old 1 share trade means RNS logged never fails to amuse me it’s a myth but it plays out so often (normally within 2 days)
In The Style Group plc (the "Company")
Change of Name to Itsarm plc
Exactly, 1p should be the absolute downside for a trade, obviously if holding in to an RTO anything could happen from being worthless to not worthless.
Shells are generally terrible, but they are what they are, high risk punts.
A 1 share trade 20 mins ago for the mystics, crystal balls at the ready with what the next RNS says. (Funds received, seller out, director changes, pick your card and ready your fortune)
Added a few more sub 50.
Simple 1-1.5p initial target, likely see 2p / £1m mcap while it has cash, let the free float get absorbed and it will move.
Formal sale process gives everyone a clear vision of who owned what up to end of last month at 1% and above, only Adam and Chelverton as potential “big” sellers are f you can call them that still, Adam only had £60k of stock at 0.5p, Chelverton £12k, it will churn and move.
I know the £2b is waffle, it’s just marketing for the sales of their plots, buy the plots of us for X invest Y and you have Z at market value type stuff.
The nav at September we were told was 40p / share
If you put £50m provision / £5m cap raise against that you still got £40m of net assets, / 20p.
There’s 40p nav at sept 22, even a fire sale / small cap raise its worth 20p.
Get past the current issues and I got a feeling the next years results will look much healthier (not the results sept 22 due), all it takes is one major sale or multiple smaller sales like todays and the debt soon gets cleared, refinancing will start to get costly in high rate world so imo winding down / selling off some of the assets and not forcing any new deals (unless they are opportunistic few pennies in the £ bids from others in distressed financial positions) makes most sense, it has ~50% debt to equity and smaller operations just using its own cash would make more money.
“Planned land sales still to complete were expected to contribute over £75.0m of recognised revenue and significant profitability towards the Group, however there is now a question on the legal completion date which will determine the recognition point for the relevant financial year. Some or all of these land disposals will now slip into the next financial year ending 30 September 2023 however the sale of these assets will be reviewed in light of the Strategic Review which will be focused on maximising shareholder value.”
“the Gross Development Value of Inland Homes' land bank is in excess of £2.7 billion (31 March 2022: £2.8 billion, 30 September 2021: £3billion)”
And another one…
is pleased to report it has exchanged conditional contracts to sell 31 affordable homes to Eastlight Community Homes for £6.54m to be satisfied in cash on completion.
Whats the worst that could have happened in just 83 days since lol
And one INLZ rns too
Covenant compliance
As at 31 December 2022, Inland Homes plc ("Inland Homes"), which has guaranteed the amounts due to ZDP shareholders, had complied with all its covenants under the Loan Note, Contribution Agreement and related security documentation.
Inland Homes signs Self Remediation Contract
There you go
I’ve been trading here Vs Amgo for small beans last couple of days and have gained nearly ~65% more shares here by not being greedy.
Which considering my first buy here was at 13.8p I’m very happy for. ~7p is now my brake even.
From 0.7p on ask first thing to 0.3p, I think there’s room for another quick trade today around the mm book manipulation, with so many stubbornly holding the immediately available free float can’t be that much. Just a dabble.
Cash available at subsidiary level and not PLC I assume.
Older guys bought in, they will take part in placing, wind it up, sell down assets, buy back INLZ share at steep discount (80p bid today over £2.01 to pay them off in a year), pocket 25-30p / share nav plus a salary, and be done within 12 months.