Member Info for MozzaBezza

Yes, come on deveri007. Spill the beans!

They said they would expect to raise funds with a mix of debt and equity, but no talk of which specific banks has been made that I can find.

Although, he did say that he expected the institutions who funded the IPO to fund the first acquisition.

I can only see them raising more equity for an RTO. They have £7.2m at the last update in cash, so they don't need it for G&A purposes.

Any equity raise they do for the RTO would be higher than this and also, with the oil price coming down they can likely buy more production than they initially intended and that means that they could raise more debt against that production.

TBH, I thought it was a good RNS. It didn't tell us much that was new particularly, but it did confirm what a lot of people suspected, that the business is turning slowly around.

Interim results will then dictate if that turnaround has gained any traction.

It was marked down first thing on the bell, but 7p has been paid now and I think that actually it set up well for the interims. Single figures is good value here I think.

Now we get to see how much the perceived (albeit inaccurate) like between STOB and ESL is.

STOB up 9.8% as I write this. Let's see if this correlation works both ways and if ESL moves up... I bought more this morning.

I think you might be spot on here.

I've been a buyer here in the last few days. It might be choppy, but on balance I think there's upside once the dust settles a bit.

I'll probably add more in the coming weeks, we should be over 10p IMO based on the fact that DBAY in effect valued their ESL stake at £55m.

So ESL's remaining 49% should then be worth £53m, or 14p/share.

I picked 10p because that seems a sensible discount given risks, etc.

I'd be delighted with £4.00 as a takeover price.

I'm a pre and post consolidation investor with an average of around 196 in one account and about 220 in another account.

I would do very well at £4.00.

*He would net ~£44.5m instantly

I think that he should out in a move for an MBO.

He could bid at £25/share and I reckon all shareholders would vote it through, but he would also net ~£44m instantly.

AA already has just under 30%. He'd need to buy around 9.1m shares, which at 25gbp per share would be £227.5m to spend and he would then get the assets, plus £272m in net cash.

He~£44.5m instantly.

Nice. Now that the drilling has started, this should start to get very exciting.

The free float here is very small, which is a blessing and a curse, but as we have a lot of highly likely good news in my opinion (you can see their other drill results that were excellent), this could really rocket.

I think we could easily keep going higher from here.

It looks like there's probably a lot of pre-buying before the drill results, which going in the last lot should be brilliant.

On the day those were announced we traded 30% of the float and rose 200%.

I'm quite looking forward to tomorrow.

It was NT to buy for almost all of Thursday and Friday afternoons, bu they would bid for stock at big premiums to the advertised bid.

I think that this goes higher. It has a tiny free float, and the percussion drilling suggests thst the proper drill results should be exceptional, IMO.

Definitely one to watch next week.

I sympathise, but at the end of the day, it's a waiting game.

Fingers crossed they get something good!

Well, in a way, a lot of how it progresses I think depends on the intentions behind the move.

It may very well have been that Michel Rapoport struck a deal so that there wouldn't have been a massive overhang caused by Elie Dwek selling his shares on the open market.

On the other hand, it might be that they are looking to do a management buyout of the firm, but I would have thought that if that were the case in the immediate future that they would just declare that upfront now they are at 30% of the voting rights.

Slovenian government seem to be becoming more economically minded in their meetings post covid. May be good for AST, might be irrelevant. We'll see.

https://twitter.com/ProAIMTrader/status/1263834386623062016?s=19

Yah, that's probably accurate.

I think we'll see the hot money churn back out and the long termers will remain. This isn't a great stock for hot money because no one has any idea of the time span.

We were told they wanted to complete a transaction in the first half of the year, but the reality is thst these things almost always take longer than expected and would be suspended in addition for a length of time while they complete an RTO.

I don't know. From my communications I'm inclined to give Paulo the benefit of the doubt.

The fact is, these assets need a lot of work doing to them and I know that he had to break up the lease into smaller parcels to be able to get enough interest to sell it as the single parties had struggled to get all fo the cash to hand.

I think this is a good RNS personally.

On balance that's a move in the right direction and considering we were/are close to going bust, that's a good move IMO.

From those of you who attended the AGM, what do you think the likelihood of further buybacks are?

This must have been raised as a point as they sort permission to buy back a further 10% of the float. If they act that out AA must have to get an FCA waiver presumably.

Lundy was asked about the loan on Twitter re. the lack of an update on the matter. His response below:

"I am in the loan. If the company hasn't updated the market, it is because nothing has changed as yet."