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From the RNS
"As previously announced, the Company intends not to serve any further notices to draw down under the Financing and Settlement Agreement entered into by the Company and EHGOF, going forward."
"In the interim, EHGOF remains free to convert the outstanding loan notes and/or exercise warrants already issued to EHGOF"
Why should HRNET make an offer....the same reason why they built a 29.95% holding close to where companies make a takeover bid for another company.
HRNET may have built a holding to merge with Staffline but one thing for sure is why would any company build a holding close to 30% and invest close to £50-60 million at the time of their share purchases if they had no interest in a company.
You may also want to read the article below where HRNET mention that "During the period the group accumulated a total holding of 29.95% of Staffline, which is now an associate company of HRnetGroup."
https://www2.staffingindustry.com/row/Editorial/Daily-News/Singapore-HRnetGroup-reports-slight-revenue-increase-but-profits-fall-51829
Number of things could happen:
HRNET make a low ball offer after this date which everyone refuses, the results for this year are released and hopefully they are good which helps the price to rise. Then HRNET make another offer on the back of this rise
OR
HRNET do not make an offer but could offer Staf money as a fiance option and Staf release results