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Biggest points after a quick scan. The company is no longer trading at a loss, Breaking Even! (fantastic turn around) The company is not being sold so our shares still exist and have a value! £19,000,000 of deferred commission no longer has to be paid (too right as well can't pay commission on refund policy's) £20,000,000 of fresh investment from a third party (a rights issue, Tcg, Lloy, Rbs, Pfd, Barc all did the same but a public version instead) Brilliant price for investment considering the current sp. And large sums of money sat in holding accounts waiting for release from the fsa.
Nothing yet Peter. The board have put all options on the table and now we wait. There are currently no offers for the company. A party would like to invest 9 million for new equity The Fsa still have not released the bank account with 25 million in it to cpp The Fsa have not removed the uk sales block (vvop) Boring this waiting lark
Don't forget there is no buyer on the table. This is a very prudent step to take by the board but I don't think there will be an outright buyer for the company. If a new investment of £9 million can be secured for new shares then that is great news. Remember this is not a rights issue, a prospective investor has approached Cpp.
But the value of the trades is piffling and a group of piffling buys could push this back up. We shall see when the vvop is lifted and the £25m reappears which will be next year now I guess. No naked run, which is good thing as it is a bit chilly.