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Click on the box titled RNS
click on the last RNS
and all info is there
I hope enough people tender to use up the full $100m, I'd prefer that, rather than a part of the amount being paid out as a dividend
I hope you are right, the price would be lower if the market expected KKR to walk.
Anyway, the good thing is that all this has given me the needed push to bin dross for the losses to offset against SMS anticipated gains
Still could be a surprise in store, bid lapses or another (unlikely) bidder creates a party
Looks like Primestone , the former directors and the arbs are holding firm. There must be a worthwhile story that has resulted in expectations of an increased offer and led to acceptances being withdrawn
Although the dissenters can take the long view, I would have thought that the hedge funds are looking at shorter timescales to make and take their profits
hopefully KKR don't walk !!
Ah
A post from someone who fully read the RNS and can do arithmetic
Be careful, you will be pilloried for stating the facts
Issue of Options
The Company has granted the following options over Ordinary Shares ("Granted Options") under the terms of its executive share option scheme:
Name
Position
Options exercisable at 0.03p per share
Options exercisable at 0.06p per share
Christian Eidem
Executive Director
2,000,000,000
-
Peter Bardenfleth- Hansen
CEO
1,500,000,000
-
Jochen Rudat
Executive Director
1,500,000,000
-
Martin Boughtwood
CTO
1,000,000,000
1,000,000,000*
* Martin Boughtwood's second tranche of options will be repriced to 0.03 pence per share subject to the Company entering into contracts within two years worth not less than £2 million for the sale/licencing of its technologies.
The Granted Options vest on a daily basis during the first year, are exercisable immediately upon vesting and have no performance conditions attached other than continued employment by the Company (or other Group company).
Further details are contained in the disclosure tables below.
A new term for 15 billion shares to be issued as a result of options and warrants being exercised...............mild dilution
I hope doing your own research included reading in full and understanding the RNS of 11th December
The option exercise price is 0.03p.
Take into account all the other shares to be issued, then you will have a better understanding of what you have
Good luck with the arithmetic
Jatw
You'll be fine. I sold a few on 22/08/22 at 956p so the bid of 955p is underwhelming. A result of higher borrowing costs impacting the borrow cheap, install meters, enjoy the income stream model that pushed the price to 1000p around that time.
My view is that the dissenters should be able to gain support to over 25%. if that happens the offer could be sweetened and another of the various possibilities is that KKR walk.
if that happens another suitor will arrive on the doorstep sooner rather than later
Best of luck
You are not in an empty room Jatw, I read and agree with your points, though KKR may not get their required 75%. That could lead to them bidding at the same level and only requiring 50% . I suspect there will be a modest sweetener to smooth things over