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Yes, I can see no CEO experience.
I can see legal experience, a few executive contracts, no leadership and drive of change, no building companies, a few links to OTT.
I can't see this being the long term CEO, this seems like an admin function and a different CEO at a later date.
Can I ask, what have you seen? Do you have any links? I'm genuinely interested in why people are excited by this appointment.
Can I ask a simple question?
I agree getting rid of Sarah Dees was a good decision.
But why is the new CEO such a high profile appointment, i've researched him, and quite frankly cannot understand how he has been given a CEO position? Maybe you could point me in the direction of what he has actually done apart from had a few exec contracts?
£16b MCAP?
I think you are way too optimistic at 50p, even 10p. But that's not to say your not going to get a nice return from your investment, but need to be a lot more realistic.
The only way anyone can seriously answer that question is when interest in the product becomes signed contracts.
I'm not in yet, i'm waiting for that first sign to jump in, and I'd probably expect to pay approx 1p and look for a target of around 3p.
It could assist in tax loss, but it fully depends on the direction the business goes in. It could not go from a media company to a completely different industry and take the tax loss with it.
That could have be done on an external consultancy basis, probably for exact same remit, but no wasting monies issuing board/directorial change RNS.
Someone needs to grab this shell by the scruff of the neck and start installing a bit of business common sense, that in turn will drive sentiment/confidence.
Whilst the news of Sarah Dees leaving is positive, what sort of due diligence is being done here? What has made her leave, pushed? or can't work with the numbers involved. If OTT are involved at all with the decision making, what are they doing.
At present, this is a complete shambles.
At least 2 director salaries not to worry about, but the cash and debt position needs to come to light soon.
I can guarantee that no matter how many years you wait, unless this has a very very large consolidation, you will never see 5p.
That's nearly 2 billion Mcap.
No
Her mentor, James Parsons does, I believe she was involved in IR and potential funding.
Exact cash or debt position is not known.
That alone makes a mockery of the Blockchain guff being spouted on the board.
Kibz1
They don't have the cash or revenue to pay the BOD salaries at present. They need to consolidate for that alone, and then a new venture is not free.
A consolidation and placing has to happen, no ifs or buts, it has too, if it doesn't, they will wind up.
Your potentially comes with recognising this share early and learning how and when to trade to maximise your profit. It will be very RNS trigger happy for a while, but very short lived spikes.
If in worse case OTT just want people in to inflate SP to get out break even or small profit, this alone gives everyone in today the ability to also bag some profit, if you are switched on to it.
Sbuild
That is completely ridiculous.
2/3p, do you understand that's 700m to 1.1b mcap?
Do you know current cash position, or debt position?
Its fine to be optimistic about your investment, but don't be ludicrous.
Exactly hopingforbags
Consol/placing hand in hand with a new venture.
Its a red/black roulette situation, and no one can predict the outcome at this current time until news of assets/liabilities and targeted assets are known.
Nope,
The whole reason for consolidation is placing in the majority of cases.
Rarely any other reason for it.
Dependent on the BOD, a consolidation can be used ultimately to raise funds for either:
- Asset purchases
- Ensuring their salaries keep getting paid
You have to do the due diligence and decide what you believe their endgame is with the funds, and of course, you'll never really know until the end whether your punt paid off or didn't.
Some do, some don't. Devastating if they don't, amazing if they do.
Hi RichiN
An RTO has varies levels of complexity, and can change for different industries/operations. There isn't really any benchmark you can put on one. Saying that, this one has took a ridiculous amount of time and with very little communication from the company to the shareholders, may be a cost issue as RNS cost to release. Covid would increase timescales, but not to any level that the companies involved can complain about.
I disagree with rooblertwo, i don't see why you have to have a certain level of experience to invest in a cash shell, but you have to understand, they are normally complete punts, a gamble but can be very profitable if they come good. I keep a diverse portfolio at all times, and this includes shells but I consider the investment wrote off at time of purchase.
This is a company with no forward plan, no idea what the future holds, no clear balance sheet, new directors with dubious previous positions and all I see is posts like this trying to generate non interest so the poster can get his exit price and move on.
This post is everything wrong with retail investing.
Despicable
Layman Trading, you should be ashamed of yourself. You are trying to scam people so you can get out of an investment you no longer want to be in, and its so transparently desperate its sickening.
That's a huge bag of worms Xerxes
Conflict of interest, SOX control, I'm guessing both internal and external auditors in for a bit of investigation too, especially if recent audit was full scope.
I hope things get better for you, on a very small positive, at least this experience will enhance you professionally because very few will go through what you have. I'm sure after working for the sort of company you have you will be in sufficient demand as SOX skills in UK are very sought after.
Wow, apologies Xerxes, that sound like an absolute nightmare.
Whilst i fully believe you, I cannot see how a FC can do that (btw the people not aware of USA job titles, FC is normally FD level in uk).
Surely Planning and buying departments needed to be involved in that decision, I don't understand how a FC can be the one to use up all the RM?
Also, if listed, does SOX not provide controls to owner who should have seen that coming?
If an FC will do that kind of, well, pathetic work, they surely won't expense inventory though, because that would be a horrendous metric signal.