Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPO. Watch the video here.
Henry - we topped out at 18p end of April 18, just before the APP release in May. It coincided with the F8 Conference
Agreed Henry - they need to be very careful and strike a balance. A 1p sp would be catastrophic. I’m hoping NAPS are deliberately keeping tight lipped about the new app and future plans / growth prospects, which could explain why they are not too concerned with this ridiculously low sp until they are ready for launch 2. Get the funding out the way with the sp hovering around these levels (more likely we will see a slow increase back up to 3-5/4p over the coming months anyway) and then investors will get their reward. IF that’s the strategy then I can see why the Board think this is better long term for investors.
I seem to recall the sp rose from under 10p to 18p over 6-8 weeks before the release of Melody’s current app. That was without the Napster streaming. Just a reminder
They will drive the sp down yes. I’m more interested in the other end, once the loan notes have all been converted at 2p. That’s when we will see big news, the new app and hopefully a huge rerate. Painful for those who want out at 3p I guess
Just in time for the Xmas buildup
That’s it - slow day on the BB (no silly posts) and we get an RNS. That’s the solution going forward
Well said. Dropping in ‘3p and I’m out’ scenarios is just planting seeds that that is the best we can hope for. Classic move. It’s not 3p, but if one potential new investor believes it is, then job done
Lord
Exactly the reason our friends on here are working 24-7 (even late night/early morning essays) to keep the sp down here - why? They want time to keep loading up at these ridiculous prices before the inevitable sp soar
I’m guessing £10m investment in exchange for 1% of the business
*were
Just watched this evening’s first episode of new series: SH and AM we’re not on; maybe next week
IF RN were always going to sell ASAP (and that was discussed as part of the negotiations), then yes it makes sense to let them sell when sp at its lowest (maybe even that was agreed). If so, then this is a strong move on our part and we may have bagged a bargain. Alternatively, if they are selling early doors because they don’t believe in the future of Napster, then that make be perceived differently. All will be revealed in due course I guess
BA can you expand on your Nasdaq reference pls? Do you mean get RN out the equation to make the process more straightforward?
BA I guess I just thought they were investing in napsters future, as well as selling the company
I thought I had Italian - thanks for clarifying. Disappointing really
Italian
From the admission Document (as posted before):
RE: Positive Momentum18 Mar 2021 11:44
The Company
15.1 Merger Agreement dated 24 August 2020 between: (1) the Company, (2) MelodyVR Inc.,
(3) MVR USA 2, Inc. and (2) Rhapsody
Under the terms of the Merger Agreement, a wholly-owned subsidiary of the Company will be
merged with and into Napster (with Napster being the surviving entity). The Company will
pay consideration totalling approximately $26.3 million to the vendors of Napster to be
satisfied in aggregate by $15.0 million in cash, and the issuance of approximately 200 million
MelodyVR shares. Upon completion of the Acquisition, Napster will be a wholly-owned
subsidiary of the Company.
10315.2 Lock-in and Orderly Market Agreements dated 8 December 2020 between (1) the
Company, (2) Arden and (3) each of the Locked-in Persons, other than Grant Dollens
Pursuant to the Lock-in and Orderly Market Agreements, each of the Locked-in Persons
(other than Grant Dollens) has undertaken to the Company and Arden that, subject to certain
limited exceptions, they will not dispose of Ordinary Shares held by them for a period of
12 months from the date of Admission.
Each Locked-in Person (other than Grant Dollens) has also undertaken that for the period of
12 months following the anniversary of the date of Admission, they will only dispose of
Ordinary Shares held by them on an orderly market basis through the Company’s broker
from time to time.
15.3 Orderly Market Agreement dated 8 December 2020 between (1) the Company, (2) Arden
and (3) Grant Dollens
Grant Dollens has undertaken to the Company and Arden that, subject to certain limited
exceptions, they will only dispose of Ordinary Shares held by them on an orderly market
basis through the Company’s broker from time to time for the period of 12 months from the
date of Admission.
My reading is RN are a ‘locked in party” but happy to be proved otherwise
Plus they are the second largest holders - we do well, they do well
Real Networks cannot sell for 12 months
Mel - I’m leaning towards the Melody VR account being closed down when the new app is ready, such that everything then goes into Rhapsody/ Napster. There are benefits to doing that in terms of moving bad debt and overheads into the dissolved entity. Just a hunch, based on lack of promotion of anything ‘MelodyVR’ at present
Best way to look at it is this: at the moment Napster Group PLC own RI (t/a Napster) and also Melody VR. Both are separate subsidiaries with separate accounts. My post from a few days ago posed the q when the two would merge and into whose accounts; and what would happen to the non-surviving accounts