The Chinese probably got the figures wrong and it is a 3.5p bid not 35p - laughable considering the dire straits the company is in.... will watch as it COULD be a recovery story BUT probably after dilution similar to SGO today...
Earlier this month was dire - not sure why anyone would bid 35p for this company when 10p probably would seal the deal considering its finanical position and outlook
Thankfully sold out at small loss but what a discounted placing and smaller shareholders barred as per usual with aim. Needs 75% vote at AGM which may be a close call?
Worth keeping an eye on this share now since the results state the company is hopeful of a RTO during this financial year (the next six months?). Downside is £2 million cash against £3.5 million market value..
It will take a while for the free float to fall back after the 8 million sell so only news or decent buying will push us back over 1p in the short term gl
This RNS looks almost identical to the previous one except the shares in issue is slightly different - can anyone explain why the need for this RNS? Is it simply a correction?
It is all about sentiment and being associated (in any way) with the biggest pop star in the world and the most successful Asian country is a double plus in my book...
Thanks shan - so the disposal has moved to the next/last stage of court arbitration - with a decision likely soon... The company should be left with £ 9 million after repaying the loan (advfn post) which is equal to 2.35p so loads of upside potential here plus results due later this month