10 > 14??6 Dec 2018 07:35
Well James Sturrock you haven't started off well now have you...
14th November
The Company has already received material levels of support for the planned fundraise from certain existing shareholders at a price that is
significantly higher than the prevailing share price. **(which was 14p)** The planned fundraise is expected to be launched prior to the end of 2018 and a further announcement will be made in due course.
Today
Subject to the Panel granting a Rule 9 Waiver* and the approval of Independent Shareholders (the "Whitewash") as set out below, existing being certain investment funds acting through their agent and discretionary investment manager Woodford Investment Management Ltd ("Woodford") have indicated that they intend to subscribe for up to £8.0 million of new ordinary shares of 0.1p each in the capital of the Company ("Ordinary Shares")
at a price of 10p per share (the "Proposed Issue Price");
If 10p is signifiantly greate than 14p I need to go back to school.
James Sturrock, I put it to you that you are a liar Sir.
James, is this update TRUE ?? or do we take off a third for good measure also, is it really £4.6m James??
Current Trading
Further to the trading update on 15 November 2018, trading has continued to be strong. In particular, the Company experienced a very good Black Friday period.
Unaudited revenues for the 11 months to 30 November 2018 were approximately £33m, and therefore the Company continues to anticipate that it will deliver revenues above market expectations for the year end 31 December 2018. The Company had unaudited net cash resources of approximately £6.5 million at 30 November 2018.
Not impressed with the start you have made James!