Adam Davidson, CEO of Trident Royalties, discusses offtake milestones and catalysts to boost FY24. Watch the video here.
Strong volume continues
You’re being a bit crackers here if you think they’ll borrow at 4.4%…have a look at some recent bond issues like Playtech or Entain. They have lowers debt multiples and glad to go higher…
Someone is accumulating here 🚀
I see, thanks for clarifying
Not sure, it’s a long document but looks to me like they’re potentially getting more cash than we were expecting.
I’m not making statements btw but once others have digested, be interested in thoughts.
Wonder what rate they’ll get on that
Updated broker forecast as of today.
Very positive and suggests this prudence was very necessary given the economic backdrop. Better to raise now whilst they still can if those losses continue to rack up.
Https://www.investorschronicle.co.uk/news/2023/09/07/synthomer-taps-shareholders-for-276mn/
View: HOLD
Not worth wasting your breath on these two numpties matey. Just let KG sleep well tonight knowing he’s saved himself either an 83% dilution or a 6x cash raise on the value of his shares last night (thereby meaning the MCAP would’ve gone to like £1.7bn 😂).
I suggest he takes some KS2 numeracy and literacy classes before any further ‘investments’. Quite clearly written in very plain English what the company intends to do. Even if you disregard number of shares in issue before after blah blah. The fact of the matter is, how much debt to they want to pay down with the proceeds of the issue. Therein lies the answer that it is not a 6x cash call……
They’re a billion miles from watertight, that’s the issue with the statements you’ve made.
I meant in terms of the £ value of issue shared capital.
It’s a transfer between equity and liabilities hence 30% more shares will now be in issue and a 30% reduction in the share price as a result of the same number of assets now being spread over a higher number of shares.
Am I being thick!
The release quite clearly states, in bold, 6 new ordinary shares at 197p for every 20 existing ordinary shares.
That’s a 6 for 20 raise. A trillion miles from KG saying £1k requires you to buy another £6k. That’s like being in outer space and has left perhaps hundreds of retail investors out of pocket now with them selling with that kind of utter scaremongering when he things he’s some big king of investing and talks down to everyone else who questions his reception level maths.
KG is utterly terrible tbh. I wonder how many have sold out of that SCAREMONGERING.
And for reference I’m ex big qualified ACA.
For clarity, 140m talks to the 467m shares in issue.
Lo and behold, that’s 30% new shares as I stated in my post. Maybe you shouldn’t be investing…?
“9.2 KEY TERMS
On and subject to, among other things, the terms and conditions described in the Prospectus, and taking into account the Capital Reorganisation, 140,200,818 New Ordinary Shares will be offered by way of rights at the Rights Issue Price of 197 pence per New Ordinary Share to Qualifying Shareholders on the basis of:
6 New Ordinary Shares for every 1 Consolidated Ordinary Share this is equivalent to 6 New Ordinary Shares at 197 pence each for every 20 Existing Ordinary Shares“
This calculation ISN’T correct.
It’s 6 new shares at £1.97 for every 20 EXISTING ordinary shares.
So it’s actually buying 30% more at £1.97 rather than 500% more which you state.
Ah, thank you. So any shareholders buying before ex-rights can take part in the offering
Would we not be expecting the SP to go to the TERP of 17p?
If a Qualifying Shareholder does not (or is not permitted to) take up any New Ordinary Shares under the Rights Issue, such Qualifying Shareholder's shareholding in Synthomer will be diluted by 85.7% as a result of the Rights Issue.