Member Info for lsetown

If one decides that the SCS management-backed offer of £2.70 + 10p is the floor price, then it makes sense to buy-in now at £2.70 with the hope of further upside.

They were all after 4.30 too.

Imminent I tell ya!!

LOL.

JP Morgan and now Goldman Sachs RNS a small holding.....

Sorry - I meant J.P. Morgan who gave the recent holdings RNS.

Very interesting raggedtp - I am researching those this weekend. Thanks.

I guess all of us SCS holders are thinking where to go next. With most of mine I have decided to stay here until we get the £2.70 + 10p. Morgan Stanley clearly agree, so perhaps there is more to come.....?

I must delve deeper then.

Interesting - £4.5m market cap. Is this a company that takes the fee revenue from their investments?

My fear would be that the wages will always eat up the revenue.

I have found the accounts really hard to understand this time around. Losses from adjusted items and impairments and revisions. I can't work it out yet sadly.

But, the market cap. is only £17.5m and they have £10m cash. Growing sales to £280m, over 500 shops and the next dividend of 1.6p is nearly 6%. So I am sticking around.

Thanks - an interesting read.

Bishop said of the recent AGM "He was unable to say anything further on Namibia but hopes to be able to do so soon."

Thanks Bishop. Very interesting.

I have been knocked back trying to trade very small amounts here from time to time.

It isn't generally uncommon - many times I have seen shares with prices falling but you can't buy anything - it's often market maker manipulation to force leveraged stop-loss sales as far as I understand it. Not that that is what is happening here at the moment.

Anyway, I am awaiting the 'Perenco Farm-Out Announcement'.

(fingers crossed. lol)

HL often don't allow you to trades stocks like this too. You only get the option for 'fill or kill' or 'limit' deals.

Short-term headroom yes but they want £200m and where is that going to come from the current £100m? I know UKEF are involved but it all has to add up for them and the commercial lenders. I still think we are heading for an equity raise and possibly an IslandMagee sale.

No ill will here to anyone from me. I personally am just regretful that I invested when I did. I think the company itself will do just fine.

Lol. Will you have "enough going on as it is thank you." when you are asked to pay for a bunch of extra shares at 6p each?!?

I am not some wind-up merchant here - I am down 50% myself and have sadly only recently realised that I made a mistake investing here.

Arun (CFO) said in the RNS:

"our net debt as at the end of FY 2022 stood at £82.51 million (2021: £14.05 million). This highlights the fact that we are under-capitalised and would need to balance our capital stack in due course."

That sounds like more equity to me, and that special resolution implies as much.

Of course I may be wrong.

It's not a normal provision it's a "Special Resolution" and we know they have debt issues.

No.

7a prevails as an open-ended allotment as far as I understand it.

7a special resolution:

"the allotment of equity securities in connection with an offer of, or invitation to apply for, equity securities made (i) to holders of ordinary shares in the Company in proportion (as nearly as may be practicable) to the respective numbers of ordinary shares held by them on the record date for such offer"

Sounds like a 'Rights Issue' or 'Open Offer' to me.

Edit. Sorry it is still there lower down.

But. I don't think anything is limited here. 7A doesn't have the low cash limits described above.

Is this an Open Offer they are describing?

Has that link to the AGM document been changed Stokey?

It now doesn't include the limitations that it did earlier IMO.