Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Hi All, just thought I'd pop my head in. I would hope we are now getting to the Business end - I predicted End of May/ June, So i am hoping in the next 2 weeks we will hear something about deal done. The 4/5 weeks from there. hopefully anyway.
As for that link below not sure what happens with that - hope means we will not have to hand them any shares lol so a little less dilution from our point of view.
We are RTO with the owners of in the Style Fashion - Revs circa 50 million - that this year have turned a 6/7 million pound loss into a proposed £1million plus profit. That is who we are RTO into if everything agreed.
Agreed, this will be the hardest bit of the negotiations sorting out this aspect. Once that has been sorted I am hopeful a successful conclusion to the RTO.
I am sure I also saw in the accounts for Fashion they have a £3.5 finance faculty in place upto March 2025 with their stress test. So sort our finance side out we should be in the clear.
So do we all.
I would think the hardest bit will be the negotiations with EHGO and Linton.to get them cleared off the books so to speak, I think once that is sorted then hopefully will go through smoothly. As previously mentioned can't see anything over the line until into May. We might see an announcement to tell us the proposed outline but only once ready for prospectus to be sent to FCA. Or we might just see We are pleased to announce XYZ...
That not to say it won't be 30m by the end of the first few days trading - Again on the assumption that we have relative low numbers of shares in issue. Then this will be quite sort after I would have thought. On paper they have turned the company around quite dramatically over the past year. So Hopefully the market will look favorable.
I am expecting the Enlarge Shares in Issue will amount to between 60/100 Million until we know what the deal looks like its just guestimate.
Last year the Company was sold for 1.2 million very much a distressed figure considering the company was making a lose of 6/7million and about to go into administration
This year projected profit of 1m plus with revenue at around 50 plus million. So will very much depend on what Brad and Jas agree - I would think based on projected figs would be around the 10/15 million market cap - So a range starting from 10p upwards.
That poster on the day sure was called juicy or something on those lines. he said 2 million take over if I remember correctly so that would have taken the share price to around the 18p mark if that was indded what was happening over a few sessions know doubt.
A lot of it is all guesswork from us and speculation.
But worth noting this was brought a year ago in a distressed state for £1,2 million company making loss cica 7mill with revs around the 50m mark. It was cutdown price to stop ITS going into administration and they could do the deal quickest.
Moving on a year and according to the exited Adam the company is now turning a profit over a million, So again speculation revs have gone up together with a reduced cost base if you read their intentions about that in accounts.
So I would say they will put a value of this between the 10/15 million MCAP, there will be enlarging of Shares in issue as this how RTO work also we do need to clear the decks as said yesterday hoping aound the 60 million and tops 100million
Only Brad and Jas will know at the present time and it will be them that decide
Thanks VT- I am sure I've seen that some changes to listing - but could be wrong.
FS - No doubt there will be people sellling - However historic investors are down lots - so I wouldn't be too sure there would be a massive sell off. Lets see what the shape of the business is as its a totally different company or will be once RTO completes.
Wazza as VT says will all depend on how the deal is structured - in regards to shares in issue. I am hoping between 60/100 million hopefully no more than that to be honest. Would still be relatively low numbers.
In regards to Main Market and AIM - I am almost certain to keep this status would need to be valued at 30 million. II am not too sure it would be valued at that on return but again who knows and its guesswork. Totally out of hands anyway and it will be what it be but hopefully a bright/er future ahead for us,
Https://find-and-update.company-information.service.gov.uk/company/08792519/filing-history
Now confirmed as Jas Director and Adam termination.
Think that would be too early. They will have had to have the draft proposal ready for the FCA already. They are still doing DD and legal stuff. Iconic and in the style will determined when they go live with a date when they send over to FCA and will be in 20 days from when they send that over. beginning of April too early. End of May beginning of June. Earlier will be great but can't see it.
The DD and legal stuff will take the longest part IMO - but once they draft the prospectus and send across to FCA its 20 days process I think. depending on how far the line they are with it I am going to say 3 months, I would hope they are quite far down the line especially if it was leaked prior to suspension. hence the big movement we had.