Member Info for marik

"You might not be in profit tmrw morn if contract for sale of Alva arrives"

Smart.

You are extra special @CaptainSwag.

I will always be in profit unless the company goes to zero, in which case, I still will not be at a loss. Just in case you are wondering I am invested.

See if you can figure that one out?

After questioning what sum-of-parts valuation (industry standard) by finnCap means, I wouldn't expect some “investors” to understand what corporate actions means either (from the RNS). I've not been disappointed.

Even though the company have confirmed yet again; there is no immediate need for a fundraise, the concept of IMMEDIATE is being resurrected, to rescue the comments from the 17th of Dec 2021 at 18.00 (> 2 months late) that a placing is imminent.

There is now a subtle shift in language, but a problem for them at the same time:

1.the fundraise has ALREADY happened

AND

2a. it hasn’t happened, but the ODX is being restructured and then it will happen
2b. that there will be a spin-off and then it will happen

It can’t be all the above. There in is the dilemma, how do you make it forward sold when the corporate actions have to be authorised by the ODX shareholders?

If the fundraise is complete, why has the company just said it hasn't? If it isn't complete, how can it be immediate when the restructuring and spin-off (both time consuming) haven't happened?

The answer is it is not immediate and the deal IS NOT DONE. The real answer is, as before; there is no immediate need for fundraising.

I feel for the genuine investors who have been invested here for a long time. I am fortunate to be in profit, will most likely be for a very long time to come. However, as the rumours have been spread since December have had their desired effect to decimate the share price with disregard to the company or the financial situation of anyone else concerned.

GL

I see no further response with anything specific just as I suspected.

I've seen the TW comments which state:

"it has raised £5m..." - it refering to ODX

Which is blatantly not true.

@Maximillian3, yes.

Let me tell you bright sparks what corporate actions can mean:

"Mergers and Acquisitions"

Good luck.

"please be specific" - means exactly that.

I can understand that you don't want to tackle the point that they haven't mentioned "done deal". Which is what we've been hearing since the 17th of Dec.

GL

For those who want it broken down see below. Any questions, please be specific about what you disagree with:

"Speculation regarding a potential fundraise"
i.e. they are about to discuss the speculation on a "potential" fundraise"

"notes today's online speculation"
i.e. they are aware

"confirms that it has conditional investor support for an equity fundraising at 5p per share"
i.e. they have the potential fundraising at 5p

"it is considering undertaking a share placing to raise approximately £5m with an accompanying open offer to raise up to a further £2m"
i.e. IF it happens it will be for £5m for the raise and £2m on the open and here is the key "it is considering" - meaning they haven't decided yet.

"Any such fundraising would however be conditional upon certain other corporate actions currently being explored"
i.e. IF it was to go ahead it, it would be contingent on "other corporate actions" - meaning it is NOT a done deal.

"there is no certainty at this time that any such fundraise will proceed"
i.e. it is NOT a done deal and it is under consideration

"A further announcement will be made in due course as necessary."
i.e. If need be, they will let us know.

@Okehurst1. ODX just told you in black and white that there is no certainty on it going ahead.


Where was the phrase about it being a "done deal"? This is what was stated on the 17th of Dec from the HNWI's. Where is it?

What it is the sound of is you getting it wrong yet another day.

It has NOT been confirmed. Quite the opposite:

They are "considering" a share placing AND "there is no certainty at this time that any such fundraise will proceed."

@TradesIn read the RNS:

"Speculation regarding a potential fundraise"
i.e. they are about to discuss the speculation on a "potential" fundraise"

"notes today's online speculation"
i.e. they are aware

"confirms that it has conditional investor support for an equity fundraising at 5p per share"
i.e. they have the potential fundraising at 5p

"it is considering undertaking a share placing to raise approximately £5m with an accompanying open offer to raise up to a further £2m"
i.e. IF it happens it will be for £5m for the raise and £2m on the open and here is the key "it is considering" - meaning they haven't decided yet.

"Any such fundraising would however be conditional upon certain other corporate actions currently being explored"
i.e. IF it was to go ahead it, it would be contingent on "other corporate actions" - meaning it is NOT a done deal.

"there is no certainty at this time that any such fundraise will proceed"
i.e. it is NOT a done deal and it is under consideration

"A further announcement will be made in due course as necessary."
i.e. If need be, they will let us know.

That tells you in black and white that it is not the same as "immediate". It is not the same as it will happen on the 17th of Dec. on the graveyard shift.

GL

It's in the title of the RNS "a potential fundraise".

Very different to the it's all done. Immediate. It's happening on the 17th of Dec.

Where is the RNS of immediate placing on the 17th of Dec?

So we've got to the bottom of it:

" it is considering undertaking a share placing" ... "there is no certainty at this time that any such fundraise will proceed."

So basically the news is that they are thinking about it. I was thinking about running the London Marathon. Great journalism.

@unionpacific

"...it uses the word ‘a’ and not ‘the’ fundraising."

You are right there, there is a clear distinction.

The accuracy of the TW rumour is about to be tested in hours, NOT days.

The clock is ticking.

Let's see what the RNS says.

@Dominic2002, no point in masking the blunders of claiming imminent placing on the 17th of Dec 2021. In fact there has been a drum beating that would happen Monday this week and when it doesn't happen another day sometime this week. Then it keeps moving.

Sorry to say, but imminent doesn't mean > 2 months later.

Where is the RNS of an immediate placing?

NON EXISTENT, because it was hyped up nonsense.

@Novice, that question I have already answered in an entire thread, which I'll respond to you on later in the day.

Secondly, as I've said before - finnCap are a highly reputable outfit with exceptional industry track record. Whether they receive payment or not, they still use industry standard methods to calculate the valuation. It is remarkable that seasoned investors (not yourself as I know you are self-declared novice) are unable to understand this. It more highlights the questioner rather than the answer they expect.

Yet another day passes and still NO PLACING despite there being rumours of an immediate placing.

It has been more than 2 months.

Where is this immediate placing RNS this morning @TWatcher, @Comp and @CaptainSwag?

Wrong for > 2 months, doesn't bode well.

The answer is:

THERE IS NO PLACING

"finncap is probably..." - no, stop there.

Initially the response was no idea where the valuation came from.

As a number of individuals did not understand where the values came from, (not meant as an insult), it is best to DM me and I'll fill in your lack of understanding and inexperience.

That should hopefully help some to get clued up. Before that, jumping from that position of questioning industry practice to crossing a vast chasm and commenting on what a house broker is and how they value a company is not favourable for you.

On that basis, the valuation stands as per industry practice. But good luck.

and GLA

"But as it stands, the finnCap puts the sum-of-parts valuation at upper end of £155m (without covid-19 testing)."

That means that finnCap did a sum-of-valuation of the rest of the business (WITHOUT the covid-19) and they valued that at £155m.

GL

Thanks