Member Info for JMUK26

Personally I don't think they are waiting to attach a claim value to the NoA before issuing it. If there is no chance of early settlement, then they'd just issue the NoA and follow up with the statement of claim later so something positive may come yet. The statement of claim often follows months later and will be prepared by an external quantum expert so I don't think this is the priority at the moment.

Hi Hopefulpatience. When I first started posting on this board last October, I outlined how long I thought the process would take, because some of the posters were giving some very misleading or overly optimistic time frames for a resolution at the time. I faced a backlash from the bulls on my thoughts, but I think most of are now getting a greater sense of the pace these things go as I don't see some of the silly timescales being mentioned anymore.

My take when I made my initial investment last October was that they would lodge the NoA in Q1 as they stated, we would then wait maybe a year for the hearing to take place, then maybe another 2 years to get a decision/award, then maybe another year for the actual payment (based on previous case timelines). I thought we might see £1 before a decision is granted, so still money to be made even if ultimately it doesn't go PAT's way. PAT still haven't even lodged the NoA, so if it goes all the way, I'm now hoping for a decision by end of 2027, providing they lodge the claim in the next few months. It could be a year earlier or a few years later though as every case is different.

In the meantime I have build up a decent stake here, and plan to sit on it.

Your username is probably apt here though.

I suspect they are still waiting for the auction result as it will dictate the amount they want to claim and how they approach the case. It is highly likely that the auction will not fetch fair value for the asset because of the circumstances. Which company is realistically going to pay top dollar for a stolen asset which could be subject to legal action and attention for years to come? A low ball offer will probably be all they get. On the flip side, if it does miraculously sell for more than PAT anticipated claiming for, then they will still argue that the fair price was not achieved and claim even more. I can see why they are waiting, but I think they need to limit the timescales now.

Possibly Gallmat, but I'm struggling to see what that reason could be. Lets hope it becomes clearer in the coming months. If nothing happens, it might just be management raising to keep themselves busy which is worst case scenario from a dilutionary perspective unless they use that money very wisely. Ideally, I'd prefer to cut costs of PAT to the bone for now, and focus on exploration when the SP is higher and funding more easily achievable.

5.50 price even..

Seems a strange time to be raising funds when there are 2 drivers which should materially affect the SP on the plus side and provide less dilution. Announcing arbitration claim is one, and announcing a claim value is another. They clearly don't think they can do either at this moment in time which suggests to me they were either desperate for cash, or they are in dialogue with India and think there could be a positive outcome. We shall see. I did 1 final top-up on the drop, but due to the spread couldn't get near the 5.25 price. If we don't get any sort of positive update in the next month I think PAT need to submit the NoA as it's just delaying the inevitable.

Looks like they are doing all they can to conserve cash which is fair enough. They know that any raise right now will be destructive to shareholders including their own holdings as they still haven't secured meaningful orders and income, so any meaningful raise would be at a low price. Enough of the LinkedIn posts and RNS's about testing and how good the product is, go out and secure some orders if it's that game-changing, it shouldn't be this hard. The timescales and targets advised by management to date have been appallingly inaccurate and only added pressure to themselves. We should have been manufacturing and distributing the product right now according to them, not posting 1 drill to Australia for more testing. It's make or break time for NTQ this year. I will hold, but getting a little nervous!

After reading the latest trading update, and various articles from private punter and the like I've decided to jump back into SDI at a 30% discount to my exit price some time ago. I've been impressed by the new CEO, who has quickly identified problems with the existing businesses and introduced some quick wins to get them back on track. He states he will focus on improving cashflow to pay off debt which I think is important before committing to further acquisitions, unless there is an absolute steal to be had. I was also surprised to see that this years financial targets were still comfortable, as I thought there may be further skeletons the closet. Lets hope for a good year of progress at SDI and getting growth back on track.

All depends how management handle the debt. If it starts creeping up further, the SP will no doubt be hammered and todays rejected offer price will seem a long way away. Time will tell, bit I suspect the lack of even a moments consideration for either deal might suggest the directors didn't fancy losing their jobs rather than what was in the best interest of shareholders long term.

I don't disagree with what you are saying FG / Nimrod. Obviously it will be a few years until anyone can pass judgement on whether an acquisition was successfully integrated and a wise investment. But, that is the same for any acquisition for any other company. What we can assess right here and now is whether the price paid is a good deal for BBSN shareholders based on both companies current performance metrics. Does anyone have an opinion? I'll be honest and say I haven't yet done the math's but will do so and feedback my thoughts shortly. This is not an acquisition that BBSN can afford to go wrong if they go through with it.

Yes, I think we can look at the offer and say whether we think BBSN or Mission shareholders are getting the better deal from this increased offer based on current company performance. Why not?

Well for starters they have upped the offer price fairly considerably, approx. 20% more so plenty to discuss if you think it is a good deal for BBSN or not? The market doesn't think this will happen eitherway as neither share has had any reaction whatsoever which is a little strange.

It was a late rns so most will have missed it. Expect some feedback tomorrow.

Fair enough - and yes it is annoying when LSE refreshes and deletes before posting! Wouldn't read too much into market reaction today. Great news often results in exactly the same reaction at the moment, with very few shares gaining any traction.

Fairly glad this looks like it will fail, and I'm a brave bison shareholder. With a reverse takeover of this size, it is probably overly ambitious from brave bison to be able to digest a company of this size, whilst looking after all of the clients and retaining them without current management in place. It would also load them with fairly sizeable debt which would take some time to pay off, unless they could quickly improve Missions profits. I think Mission shareholders were getting the better deal here personally.

Taser, what were you hoping for in the results? They are showing consistent and steady growth on each trading update so not sure what you mean? Are you expecting explosive growth? Looks a pretty good update to me, the only downside being the debt that has risen presumably with recent acquisition. Would like to see that paid down and get back to a net cash position asap before purchasing any more.

Good post FG. Agree with what you are saying. The offer does feel opportunistic and clearly hasn’t gone down well. Much prefer a friendly takeover where management stay on and keep their clients on board. How many clients would stay if their key contacts left? Not a lot I suspect unless there was a lengthy handover and the takeover went smoothly. We also have to consider the debt that would be taken on which is large and would take some time to pay down even in the event that brave bison turned mission around. I won’t be particularly sad to see this one fall through and hope the board don’t get into a petty war.

Allessandro, whenever I see your posts on here you have a negative bias regardless of results or news flow. You stated recently that it is not good value here because traveler numbers would dwindle given inflation and the post covid boom fizzling out, and looking at the numbers and outlook released today you are clearly wrong with another record year expected. The number released today are very good, and the fall today has little to do with that. It's because there was a fairly ridiculous 15% spike yesterday so it was always going to happen unless the results were absolutely mega. Had yesterdays gain not happened and we were up 4-5% today nobody would blink an eye at the fall today. I can't see this going any way but up personally, but that's the game I guess, we can all have different opinions.

Rumours circulating of a very large acquisition of mission group for circa £22m. Might be interesting tomorrow.

Interesting interview with Nigel Rogers and Ryan Maughan uploaded this week from Progressive Equity. Google "This time it's different". They talk about the companies poor track record, how they came about joining, why the company is now a totally different prospect, and talk about the technology they have. Wort a listen, if you have a free hour sat some point.