RE: Chairman's Statement30 Jan 2019 16:58
Until you know how much cash they actually have left After they have wound everything down, paid redundancy, paid suppliers and paid back their credit lines you can not really tell how much cash it has.
Expect a 1000-1 consolidation to get it back to 3.6m shares, and you want to ensure they recapitalise the shares to 1p par value, nil par value will = billions of shares again.
This probably more interests me as a shell over the lighting business which was clearly bs and a way of milking shareholders for another year but that’s gone now (nearly)
I will read the circular with interest to see what type of business they want to go for.
As a general rule a shell is worth £200k + cash - debt / shares in issue. Once you know what they are doing its valued at what the project / company they rto with is but you will normally have to account for a placing to buy it.
Seen shells go all ways, boom, bust and stagnant. You get 6 months trading as a shell followed by 6 months listed but suspended to sort out a RTO.
Good luck, sorry to grumble but this bod has acted has p****d me off (I’m sure I’m not the only one), and I don’t even have shares here anymore.
My Fingers are crossed for you.