George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
With COPL though the biggest bondholder itself was shorting the stock massively 50% or more in order to re-neg the placing price & conversion price lower.
So when they covered it had much more energy because of the massive short.
Each situation is a bit different.
My understanding is you retain your pre emption rights meaning you can buy up to 8 new shares for each old share held to retain your % holding in the company. You don’t have to take all those 8 new shares up but you will have the right to before anyone else gets second dibs on them.
I would vote no to all motions. Put JD in a corner. Let him claw it out of administration if he thinks he can. He’s clearly trying to avoid it going down that route so I vote for the route he doesn’t want. Lets see what he does then.
At 800 million new shares at 1p that’s some gamble.
Your existing holding would essentially become worthless so you would be investing new money in JDs turnaround plan in the hope that y new money could rescue your loss my multibagging many times over.
Personally I would take that potential new money and invest in another company with better potential for multi bagging than Superdry. Look on Nasdaq multi baggers there every day.
The 5p placing is the option where JD takes the 200 million new shares all by himself. So he will hold 226 million shares or just over 75%
Then the company may consider finding a broker where the delisted shares can be traded.
Absolutely disgusting, not even the decency to buy out the remaining shareholders to take it private.
Ouch!
Can always buy back in if things start looking better.
I took a different approach sold half for a £1.5k loss, put it into CZOO and was 50% up but failed to sell at a profit lol. So now both halves are equally down.
There were other great opportunities on the week it fell down like ORCA and GDR that could have recovered my losses instantly but I was too slow to react.
Charting targets from a more well known chartist.
https://m.youtube.com/watch?v=eAtwCbbgDio