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I don’t think its going to be as simple as gap filling.
The shares in issue at that 1.63p gap back in December were 1 billion, so Mcap was around £16 million. To fill back to that mid December Mcap would be the equivalent of 0.45p now. Which is still nice if it happens
Just looking back at previous mcap to get an idea of how it translates into sp in the ‘new world order’
On 4th Sept 2023 sp was around 4p, there were around 700m shares in issue, mcap was £28 million.
So with current 3.6 billion shares a £28m mcap is equivalent to 0.78p
“ Yes Micky, and the offer will be just enough to pay off the senior lender and the bonds.”
The debt is $135m, that’s £180m, divided by 3.6b shares that’s a share price of 3p
I’d take that thanks very much!
Ashwaldo I do get where you're coming from, but I do think that not all AIM start ups are as bad as COPL. Some of them are genuine I think, or would like to think.
COPL just seems pure evil. When I read that Guardian article that they helped Exxon steal a Liberian oil field it really clicked these guys are world class mafia. I wish I read that article before the sp collapsed I would have sold up.
Sorry if this is a naive thought. Wouldn’t JD be better off grabbing as many shares as he can at this low price, not just 30% but as close to 100% as possible, then he can make a decent offer for the remaining shares without paying too much.
Just for example offering £2 for just 20% of shares is less money than offering £1.2 for 70% of shares.
Or doesn’t it work like that? Does he have to make an offer as soon as he crosses 30% not giving him time to grab much mire than 30%?
Jazzyjim we don’t even know if Anavio still hold 1.3 bil. Since these guys are so useless at issuing timely TR1s.
All I am saying I find it hard to believe PIs are holding most of the remaining 2.37 billion.
We know the large shareholder group holds only 8% and I assume they are by far the majority of the PI holding.
So who’s got the rest? If the company is bust they are in for a big loss.
I am not new, but have come back after cementing my loss to try to win it back.
The question you have to ask is, who would buy the billions if new bond shares? Not PIs there aren’t enough of us.
And I can’t believe any II would be dumb enough to buy shares in a ‘worthless’ company.
Nick and Jim, I don't disagree all valid points.
It could go either way. I don't want to convince anyone to buy in or to sell, just my own reasoning.
COPL owes me £11k, I made it back on HE1 using funds from other stocks so I have put £1k back in for 2mil shares as a risk in case it does recover or get sold for a decent amount to try to make the original investment back. For me this is worth a risk as my HE1 investment is doing really well and could easily offset the loss of £1k.
No one should risk more than they can afford to lose.