The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
BMV shares pre SAU issuance 417.5 mill
SAU shares 200 mill (50 mill now, 150mill after prospectus)
SAU give 50% of projects for 200/617.5 =32% of BMV
Existing BMV shareholders get 18% of projects free. There is no dilution in that. If anything it is accretive.
It looks like a good acquisition that should support the share price. The debt level is relatively high but it could be paid down out of earnings.
A concert party would trigger a bid if it controlled over 30%. Brandon Hill and its director Oliver Stansfield will be a concert party. If there are any others working with them then the overall amount can't exceed 30%.
The standard minimum free float of an AIM company is 25%.
When JW loses a contract with company does he just attack the company?
1st August was the release of the Annual Report and also when JW started attacking the company. There are allegedly various confederates that work with JW in shorting stocks. Whether or not such alleged activity amounts to market manipulation is a matter of interpretation and enforcement.