Member Info for lor_9

Interesting footnote in the presentation that the DFC is considering $100m of financing. Don’t think they have disclosed these numbers before? Decent chunk to be a cornerstone investor combined with the military presence on the Board to help secure deals with Trump

To be clear I don't want any changes to the CEO or CFO - both are excellent. I do want changes with governance at Board level though and for ordinary shareholders to have a say in the route forward for the company.

Whether a bid is good or not is completely subjective, so let shareholders decide.

If you have a low average acquisition price then an offer of £9-£10 would be excellent in my view. It allows investors to recycle capital and deploy into the next opportunity.

However, if the offers were all around £7, then I agree, not worth proceeding.

Maybe arealfundmanager will know but I’m not even sure whether a party can return with an offer now under the takeover code. I think it’s highly unlikely in any case unless they want to mount an aggressive bid

I do feel like it’s unusually bad management from Audioboom and it doesn’t reflect well on Stuart and Brad. However, I suspect a big shareholder like Candy derailed the process for pure greed.

Think how many advisors fees will have been incurred in this shambles all for a paragraph in an RNS, no strategy and a share price that’s worse than ever.

I’ve been a huge supporter of them but it’s time the Board changes and a proper independent director is appointed.

Quite good news, they do appear to be working! Maybe this will beat my expectations of a September Nasdaq listing

It’s really not a big buy for Tobin, that’s like us spending £2 at the supermarket. What about the other directors too? Need to see a bit more than a token purchase by a multimillionaire

I think they would need 75% shareholder support to push anything through and Candy, Dowgate and the Board have over 30% in total, so they hold the power.

Having said that, from memory, I think Candy has an average cost of around £2/share but obviously other shareholders have higher averages so a higher number would be needed to shift them.

I'd be very disappointed if they turned down any bids in the £9 - £10 range.

@mcsquares and @asimpleinvestor how long term do we have to be though? I've held shares since Feb 24 (and before that in the hedonistic days of the crazy run to £20+). I'm sitting on some profit at the moment but nowhere near as much as I'd expect for the risk being taken of investing on AIM. We need a clear plan and the market is telling the 'Board' that today. -16% and counting.

If anything, the Board needs a refresh

On reading the announcement again, the phrasing is interesting "the Board now consider that the level of indicative offers received from these parties undervalue the Company and its prospects".

So it feels like they had a change of heart halfway through when offers weren't increased to appreciate recent trading performance.

I think they're forgetting that if the share price dips 30% today down to £4, it'll need to double to get to £8 and raising funds for acquisitions will be out of the question, as by their logic, raising funds at this level is not favourable as the company is already undervalued

Would say you're a little delulu tbh.

you can't just magic up shareholder value.

you actually have to have a plan, communicate this to the market to generate excitement and belief

Going to be at least -30% today. Prepare yourselves. They’ve provided no credible plan for increasing shareholder value in what is a terrible market - AIM which does not reward financials.

They should have said the sales process what not enough given the greed on the Board, but they have been advised a NASDAQ listing is likely to provide shareholder value far in excess of the offers received.

The level of detail is unacceptable.

What a fuxk up then…why enter a sale process again if you’re just going to terminate it again

Perfectly possible that it could fall through in this phase after due diligence. If management do buy it out above £10 I wouldn’t complain too much

I agree with the notion (and I’m actually more than 30% up due to how I’ve traded it in the intervening period) but I’ve watched the rest of my portfolio grow, watched MP and USAR grow and I’ve also seen multiple delays here that impact on our ability to realise a potentially significant profit from our investment.

While there are no meaningful revenues, this stock is always going to trade with a lot of volatility but it also means the share price is based on theory (resource assessments) and hope value. Hope value traditionally has no done well on AIM but on Nasdaq it’s commonplace.

Everyone knows the listing is the biggest short term value driver so in my view management should be working almost 24/7 to achieve that. If they are not working investment banking style hours I would be very very disappointed in them for example.

@StockGenius average is 33p with lowest price paid 14p and highest of 50p. Currently makes up around 20% of my portfolio

right, who’s ready for another ****show of a day where the share price plummets again despite us being several times undervalued? i’ve said many times that management has moved far too slowly on the nasdaq listing and it’s going to bite us.

It’s actually quite positive the trading volume has all dried up. It’s demonstrating the sales process is well run and there aren’t any leaks. Fingers crossed for a Spotify/Amazon bid

I'd imagine exclusivity and a clause 2.7 will be coming soon @Arealfundmanager. It can't be far off given the time bidders have been in the data room and conducting DD.

I'd hope it could also spark a more public bidding war but who knows.

What I do know is that the fundamentals are excellent, management is top class and the sector is doing well. For a while, we have just needed a bit of an injection to help growth and make that step up to the higher market caps where you can attract institutional investors. I'd ideally like a NASDAQ listing as I think we'd be valued very differently over the pond but I wonder if that ship has sailed now.

Read the RNS, they’ve spent what they said they would. The deferred payment should be made from cash flows in 2 years time

With the share price where it is I do wonder if management will try a PE backed levered buyout. Could see them buying around £9, taking it private and then flipping in a few years time