Member Info for mcadder

Let's assume with your theory then that the I.I's have already forward sold their shares. Even if they had that would mean right now that there is immediate upside from current levels as they will already now be in circulation having sold down over last few weeks.
This placing will ensure they are fully funded with costs substantially reduced and bearing in mind the SP was at 25p just over a month ago and if they have already forward sold then we won't need to worry about when and if they start dumping their shares if this has already happened. So either way this is still good for a return back to at least the 10p area in next month or so

2 positives to take from this shambles -

1/ 5p placing shares taken up by institutional investors and wealth funds who will want imo at least a doubling of return before even thinking about letting any shares go
2/ The placing money "will be used to drive growth in the profitable and growing Health and Nutrition Business, whilst also providing the necessary finance to relocate CD4 production to the Company's new, purpose-built manufacturing facility in Ely, Cambridgeshire, as well as supporting a transition to a sub-contract model for COVID-19 test manufacture"

So down at this level there is certainly value here...

This could be multiples of 2.7p in the next few months - hopefully back to IPO price for starters

The one positive we can take from this is that the 5p placing shares have gone to institutional investors and wealth funds so I can see them wanting to hold out for at least 10-15p in the short to medium term for their return

Well at least it's finally out now. I think the most people can expect this to return to over time is 15-20p so anyone buying in down here would still do pretty well.

However I think that Marik chap should be holding his head in shame for their antics on this bb!!

"doesn’t suggest ANYTHING is in the background except remaining sufficiently liquid to pay directors salaries/bonuses."

Cash isn't actually a problem for Omega right now day to day as they have £2.5M on the balance sheet and an undrawn £2M overdraft facility. What probably is a problem for them is they need further cash to fulfill the obligations of an upcoming contract they have in the bag imo which they have been very careful to keep quiet about (apart from the potential placing of course) lol

I really hope if they proceed with this shambles of a placing that there is something in the pipeline for their sake.
At the moment we simply don't know what is going on behind the scenes but my theory is this......I think the problems started a couple of weeks ago when the bod enquired about a raise while exploring their options with regard to "possible" financing, told them it was for working capital (for price sensitive reasons didn't divulge what it was for), got told it would be at 5p if they do and individuals like TW and other noobheads on this bb got the inside track on it because of who the bod talked to.
The leak if true has done an awful lot of damage and prompted the company to issue these 2 RNS's in response. I don't think the company are desperate for cash to keep the lights on as we know they have £2.5M on the balance sheet and an undrawn £2M overdraft facility which explains why they haven't just gone ahead and done the placing like 2 weeks ago. They also said themselves they are in a good cash position.
But unfortunately morons like TW and others have taken delight in goading Omega shareholders ever since.
It's obviously needed for a particular contract whether it be for equipment, extra staff or general expenses and although it feels like a bit of a kick in the teeth if it happens at 5p it's gotta be better than any death spiral CLN financing.
You would have expected the SP to have tanked this afternoon into close but there was actually quite some serious buying going on. In this case although the 5p placing if it happens is awful if they do announce with an unexpected sting in the RNS as to what it's for then we may not see this drop to 5p if it's good enough. The one thing I'd like to think is that they may have made the mistake of enquiring about a placing and it got leaked BUT hopefully they kept their cards pretty close to their chest when asked what it was for and if they do have something to announce that it may catch a few by surprise in a good way....

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

I'm 50/50 on this one but the new investor's would not agree to a 5p placing if they then landed the sale of Alva tomorrow morning.
There must obviously be something in the pipeline to conditionally be able to raise £5M to get them to agree.
Who knows they may not even go down that route - stranger things have happened

Agreed - bearing in mind there will be an opportunity to buy around 5p I'd be sitting on my hands and buying no more here at present

Must be massive delayed sells in the background - now 6.5p to sell ffs

Some great points there neilin and widglide many thanks. If one of my other investments does well in the short term and if this hasn't gone up too much I'm looking to lump another 500k shares into my portfolio with CIZ

I was going to put another 10k in here - glad I held off. Think I'll wait till this is around the 5p area - see no point topping up given the placing is pretty much nailed on

I must admit the longer this goes on the more I think the placing will actually happen because this is now the SECOND RNS confirming that they have noted online speculation of a placing and the fact that they are considering it but now we have confirmation of the price we are looking at if the raise of 5p.
It beggars belief that they have been in discussions since end of Jan when the SP was somewhere between 11-13p and 5p is all that was on offer....

In the grand scheme of things it's only £5M they are looking to raise at 5p so it would result in only 100M more shares so even if it happens it certainly wouldn't be disastrous and certainly much much better than death spiral CLN's

"what was the point of that"

Only reason I can think of that they've done that is because they are keeping their options open but being upfront with investor's. They've confirmed they may not even proceed with the fundraising yet....

"there is no certainty at this time that any such fundraise will proceed."

Omega Diagnostics -

"The company was arguably well placed to assist with pandemic related diagnostics but it hasn’t delivered the outcome shareholders had hoped for. That said, they have a biotech platform and the concept of using self administered LFTs could now become a lot more popular in the years ahead"

If they could just get some positive news released to improve sentiment this in itself would at least make conditions for a placing more favourable

The only positive I can think of here is that if a placing has been getting worked on for the last few days when it was hovering between 11.5p - 12.5p then if it's at a discount to the price say on 7th Feb we would likely be looking at 9-10p but obviously that's being optimistic if a placing were to come imminently...

Once we get rid of idiots that do this......

174,183 shares BOUGHT at 10:08 for 2.70p

174,183 shares SOLD at 12:28 for 2.685p

amongst other examples then we will soon see this above 3p....

Well I'm all for being positive here but the reaction of the SP especially the drop just now tells me a placing is definitely being worked. My guess is somewhere between 5-6p :((