Member Info for Krustysmegma

So this is where it wouldn't stack up. We know they're going to redeem the B shares for 1p each, and that this represents 5% of the value, so that implies we're only going to get c. 20p back.

Let's wait & see how many B shares are issued on Friday. I don't read pro-rata as meaning 1 for 1 (pro-rata to our holdings surely?) but they could have been clearer in explaining how it works.

Down with the market today (FTSE 100 off c. 2%, FTSE 250 off c. 2%). Might come back tomorrow ahead of XD Thursday unless there's another market-wide sell-off.

Why do you think?

Hi Basil, interesting read thank you. Re the WRAP offer not being available to all, I did apologise to you yesterday (08.46) for my error following colbalt's helpful clarification, I didn't realise some brokers had effectively been excluded from the raise. Let's hope they learn from this, along with many other lessons they should have taken from the whole debacle. One can only hope that a drop in value of their own holdings from c. £4.8m to less than £200k has chastened Tim and John, I know it would have done had it been me! K

Nothing to stop CREI opening the chequebook & approaching API with an offer for the assets it actually wanted, and they avoid getting lumbered with the stuff they would have disposed of anyway. More chance of doing a deal than SHED have, that's for sure!

I stand corrected, apols Basil.

Completely agree colbalt. I still wonder if that's why John wasn't originally included in the list of director participants. Ignorance is supposed to be bliss but it doesn't feel blissful at this stage.

Thing is, regardless of how we got here, RF has had all these shares for next to nothing & they're selling them for next to nothing, mostly to PI's who still see the value here. If they held on to them, they might make serious money. Does anybody here want that to happen? I know I don't.

The WRAP offer was open to all shareholders with decent brokers, if you want to know why your broker didn't participate ask them.

Yes, as you say it's complicated isn't it? If c. 5% of the NAV = £11.9m that implies a value of c. £240m vs the current mcap of close to £150m , I think that would explain why there were some pretty big buy trades yesterday despite the uncertainty & timescales. It should be easier to work out the expected value once we see how many B shares we receive for each ordinary share we hold.

I'm assuming we'll receive c. 4 'B' shares for every ordinary share we hold, otherwise this equation doesn't work?

"The capital to be returned represents approximately 5.12 per cent. of the Company's Net Asset Value as at 31 January 2024."

Bloody hell MattyBoy, how do you sleep nights? Do you keep getting emails from HL saying "you may have too many risky investments" - I do! My ISA value has dropped a fair bit but my income from it actually rose last year so not all bad. I have most of my SAR in my HL SIPP which is now about half of what it was 2 years ago. Not helped by PXS, which is another of my dogs that HL are no doubt worried about lol!

Despite all of the above, I now have three times as many free-running SAR shares as I had, plus a little bit left in the bank from top-slicing. I'm hoping it'll grow to your £750k ISA level so I can bang some into an annuity before rates totally collapse, & buy some more dodgy income generators with the rest to keep HL on their toes!

Good luck with this one & GGP, here's to a much better year ahead. K

It's only listed companies in the US that have to have higher sp's to comply with listing rules, there's no guarantee that an unlisted entity will have a high sp.

Thanks saintly, and the same to you. Pile those dividends high!

Having endured the worst month (in terms of overall fund size) in the worst year of my shareholding career, I'm hoping for much better things in the new f.y. I know I'm not the only one to have had a rough time of late, so let's hope that things finally turn around and give long-term holders in particular a much-needed break. GLA.

Along similar lines Billy, I'm hoping that once the dosing of the initial 24 psoriasis patients begins, it'll very soon become apparent how effective it is and that the trial will be closed down quickly to facilitate a much wider group. It's the kind of condition where it will be obvious either that there has been a significant improvement or that there hasn't. Here's hoping anyway.

Unless I'm missing something, all their previous investor engagement has been stateside, so nothing different to previous years.

what's your ******* problem? this is a share discussion forum where people can express an opinion, but as usual some troll comes along & takes the ****. what are you adding to the debate ********?

I'm still forecasting c. 60p but happy to be proved wrong. Suspect they'll want to retain their dividend-paying investments for as long as possible, so will probably be disposing of the rump initially which might not yield too much (c. 10p?).