Member Info for MickR

The demand is insane, news has to have leaked about the offer price. 5p? 10p? more or inbetween?
DYOR

5p is less than £15m, not meaningful at all in the grand scheme. Morrisons got taken over for what £7bn? Here we are talking about less than £250m enterprise value including the debt for a major convenience chain loved by the communities they serve. After last night's fearmongering, we should not accept less than10p IMO.

Gap fill at 3.6p likely at this rate unless takeover is announced earlier. 5p/10p??

DYOR

1.9 offer. looks like it is game on for 5p takeover or higher IMO.

Banbury, I shall also look at top slicing around 3.5p if it gets there unless we get the deal announced at a higher price.

CDF1,

Fantastic. I wish I had added more on the dip this morning.

Oh well, onwards and upwards now.

Banburyboy and others who held , we deserve this after the heartache they dropped on us last night. I bet plenty did'nt sleep last night.

10p would be awesome.

nm

Everytime the share tried to rise to 5p the BOD would issue a speeding ticket, the one yesterday was almost a killer, looks like they were desperate to keep a lid on the price so that a 5p offer would look good. This BOD need looking into by the SFO/FCA and whoever else.

DYOR

As I said yesterday, 5p to 10p offer is not a lot in the grand scheme of things and could seal the deal. £170m to £200m of debt plus £15m to £30m for shareholders, pocket change to the likes of Morrisons owners.

It could be announced as soon as today so if you are out, you are out.

DYOR

Yes, looks like 5p on the table could seal the deal.

DYOR

Hold on tight IMO

It is a solvent outcome so looks like a takeover. 10p could seal the deal IMO. It is not for the buyer or the BOD to decide that the shares have no value.

DYOR

This Neil guy should have the boys in blue knocking on his door. He must have cost people a lot of money.

This is consolidating nicely at 0.155p level, let's see it break the 0.20p resistance again today. The market is still digesting yesterday's news. 0.20p falls and 0.3p could be seen quickly.

DYOR

Mrspeculator,

You have done a great job summarising the position. It would be suicidal for the BOD to say one minute that shares are to be temporarily suspended on 1st June pending publication of financial results, send out a GM notice and then place the company into administration two days later. I am sure the SFO would be interested in looking at the BOD if shareholders were to complain.

It would be in everyone's interests for a takeover of this company at say 5p/10p or whatever by Morrisons or whoever else. Amigo Loans kept going on for months about insolvency, it is still trading, so is Hurricane.

Whoever wanted to sell out would have done so on Tuesday when the SP went to 0.60p. I would not be surprised to see a blue day here to be honest. Red or blue, place your bets.

DYOR

The BoD are opening themselves up to litigation if they propose administration before the end of the month in my view as they Just 2 days ago called for a GM at the end of the month and said there would be a temporary suspension pending publication of the financials.

Shareholders would have a solid case to sue the BoD for misrepresentation. Morrison’s have a lot to lose here and I agree with others that a low ball offer is likely to be recommended so that the BoD are made to look like saviours. The shareholders who participated in the fund raise at 30p should be fuming as they have been led up the garden path by the BoD. Pis have modest exposure here, market cap is only £3m and majority is held by funds IMO.

As I said earlier, they increased the ask to 1.5p around 4pm then dropped it to 1.3 and then 1.2p and I could sell all my shares for 1.11p just before the bell.

There is funding until the end of this month so they are very unlikely to call in administrators tomorrow as they would open themselves to lawsuits IMO.

Good luck all holding here.

They would have announced administration today if it was a done deal. Looks like talks still ongoing with Morrisons owners.

Whoever was going to sell has already done so. As we said this is boom or bust but my money is on boom. Three grand punted here.

The RNS issued late today was in response to the Sky News. Financing talks also still on as per the RNS.

Now 1.30p. Tomorrow could be very interesting folks.

Logging off now.