Member Info for JimPrice

See daily and weekly charts here:
https://twitter.com/JimPrice83/status/1347493976471990272?s=20

With regards to Miton disclosure, according to Peter they themselves stated they should be on the website and haven't issued a TR1 as the requirement threshold is 5%.

I have been in touch with Peter and have asked following the disclosures of Harwood and Miton regarding the proportion of shares taken by institutions. He has affirmed that a "significant portion of it" although the disclosures will be led by the instis themselves some of whom are not bound to announce below 5%. With that said he expects to see more TR1s in due course. Let's see how things pan out

Peter has invested £1m into the company. Aside from him the others need to put their hands into pockets

Premier Miton Group have taken 10m as per update on company website today:

https://www.wsg-corporate.com/investor-relations/shareholders/

The first RNS was a reduction to below 5% due to dilution from warrants, so no actually selling. Today's RNS is acquisition of more stock. So they've bought back to above 5%. Happy for HSBC to buy at these levels. They won't be flogging them before double figures I reckon

I cast my votes earlier today. Why the heck would would someone support this raise when the BoD don't themselves. They haven't put a single penny into the £5m raise. Only a mug would back them and they know they have a fair few of those invested to get the vote over the line. PF told me that they're not about to go bust. If the big contract is advanced and imminent as they say then it should be easy to renogitiate better terms. 4p with warrants is a slap in the face. If he is unable to negotiate better than an all time low he need to walk, period.

Think holders need to come together and vote the resolutions down. The proposed reduction of the nominal will give Fowler the green light to dilute us to oblivion. He doesn't care one bit about the share price and has only been kept in check by the 10p nominal. If the resolutions don't pass the share price will spike. If they do pass, I predict it will go now 1p within the next 18 months

The company is not about to go bust. There is £1.5m available for drawdown under the Mezzanine loan which is convertible at a much higher share price (10p if I am correct). The CLN debt remains in place too, all confirmed by PF. The difference now is if you vote for the resolutions PF will have the green light to dilute is into oblivion. The nominal will go from 10p to 0.1p. The gravity of this in the mid-long term needs to be fully digested. This vote is time for shareholders to come out in numbers and make their sentiments felt. This is a family business, PF will have to buckle up and listen if he wants to carry on milking it for the forseeable

PF is simply lining his own pocket. Unless he stumps up money and takes a larger stake in the company he is not aligned with shareholders, simple as that. This vote gives us the chance to send a message to him, a kick where it most hurts. He will have access to capital for H1 and will need to start thinking about taking us seriously or walk the plank. Firmly voting against

This is what I got back from Peter today:

"If the resolutions do not go through and the placing does not happen the mezzanine loan is still in place however that will become costly and the CLN debt remains in place with repayment due in 2021 and we have to pay the costs of the transaction even if aborted. We would also no longer have the institutional shareholders we have just secured - so it would not be sensible for shareholders to vote it down."

He didn't mention that this will create a squeeze where placees will scurry to close their positions thus pushing the price up well above 7p imo. That will give an exit to all those who averaged down in the 4s, either at a break even, a tidy profit or minimal loss. I will be voting it down.

Forward selling placees: Do I take their shares now or vote down the resolution and then sell mine to them for much higher. The latter sounds more attractive and will certainly pave an exit. If the vote is a no, short time SP spike will grant an exit and if it's a yes then funding secured and debt cleared gives a foundation to build on in 2021. In both cases it's a win-win.

The company won't go bust. They have cash and access to a decent chunk of the Mezzanine loan. Today's raise at 4p is simply baffling. They were H1 cash generative, had £1.3m in bank and over £1.4m available from an existing facility which was much less dilutory than today's raise. They have advanced negotiations for multi million £ deals and this is what the produce for finance, shocker. I'm in from 6.2p and therefore less affected than LTHs but nevertheless it's a shambolic mismanagement of shareholder trust

This new finance arrangement is much worse than any they had in the past. People blame the CLNs but they were being converted at much higher and nothing like the quantity of shares announced today. We also had the nominal buffer of 10p to fall back on but that's gone.

One must also bear in mind that this vote gives the company the right to raise at anything above 0.1p! The nominal goes from 10p to 0.1p. I will not be voting yes to this knowing full well that they have access to capital. The Mezzanine loan did not damage the price this hard and is still available for drawdown.

They had £1.3m end of H1 and over £1.4m credit facility still available from the CLNs which were less dilutory by a country mile. The company is not about to go bust. Today's fund raise is a total mismanagement and disregard of existing shareholders. I will obtain vote by proxy form when published on the website later and vote against the resolutions. Should the raise get voted down, there will inevitably a price squeeze. The company has access to capital and will have to start taking shareholders seriously before proposing such a ludicrous price. Let's see how this plays out.

Yup, copy-paste job. I just got the same email

Lot's of forward selling going on today by investors who are hoping to cover with placement stock. Imagine if the resolutions get voted down at the GM. 90%+ of voting in retail hands. Could see an almighty squeeze. I am considering as voting against as I find it hard to believe they couldn't come up with better financing terms, 4p is farcical. If we get majority vote against, BoD would need to reconsider terms and probably consider coughing up some funds from their own pockets too.

Can someone please provide contact details for P Fowler.

I have revised my new target down to 8p. This will take a few months in my opinion unless news lands sooner than anticipated. The churn will continue in the fours as existing holders average down and new investors come aboard awaiting the inevitable ramp. Think we are down here for 2 months. Company will provide a H2 trading update which I expect to be poor given the wording in today's RNS. All bad news will have been priced in and 2021 will be underway with cash in the coffers, no debt/CLNs and a plethora of opportunities. With the vaccine roll out trading should resume to a level of normalcy. It's a buy down here imv