Member Info for norfolkslim

...this back above 5000p after the recent "breather". Let's hope it holds here or thereabouts before moving on.

https://www.lse.co.uk/ShareChat.html?ShareTicker=BGEO&share=Bank-Of-Georgia-Group#posting-rules

Thank you for the carefully reasoned analysis and counter argument - speaks volumes.

There will be another placing soon at 1.0p or possibly even less - see 88e's 40% discount placing today, the same discount to 1.3p would be 0.8p.

The previous placing RNS quoted below does NOT say the funds would be sufficient to actually DELIVER any next steps, merely to DETERMINE (i.e. decide/plan) what to do. I would suggest serious caution before investing here....

"This placing enables the Company to determine the next stage of its work programme following the success of the Tai-3 and Itumbula West-1 exploration wells."

I was planning on adding more when funds allowed, but after this morning's RNS was concerned I might miss out on getting my full planned investment on the table early enough. I'm now "fully loaded" at an average of 11.06p, and happy to hold this for the rise into Q3 and onwards. GLA

Criiiiiiiiiiiiiiiiinge

I've just invested this afternoon. Oversubscribed, fully funded for steps needed to support potential multiples of current SP in the relatively short term. I got in too late on HE1, so hoping to "catch the worm" this time! GLA

Fred, you complain about people "ripping other investors off along the way too" - the people doing that ripping off are the rampers such as yourself who spout nonsensical rubbish and are demonstrably unable or unwilling to answer straightforward reasoned concerns raised by CP, myself, and others (i.e. how funding which is not massively dilutive could be achieved) and who are dragging naive and unsuspecting PIs into gambling away their money into a falling share price.

Two words for you Disco Dog.

1. DILUTION.

2. CLOWN.

Sharebel - if they were fully funded I would be expecting them to be shouting that from the rooftops. The silence speaks volumes to me.

Clearly a puff piece, pre agreed list of questions, and the entirely conspicuous elephant in the room being not a single hint of a question or reference to funding. Just my gut, but my inference from that is that (i) they have agreed further funding (or are close to doing so), hence not being too guarded in talking about next steps being conditional upon funding, and (ii) the pricing of any such funding is going to be a massive gut punch for existing investors (otherwise they'd be crowing about how delighted they are to secure it at a premium to current SP etc). I may be wrong, but I expect a 1p funding RNS imminently.

Completely ignoring the massive dilution since.

I sold out here recently at a significant loss after holding various chunks over the past 2-3 years. My view is that the long term future is cautiously positive, BUT the coming will require multiples of dilution from what is now an already decimated share price. I see this RNS as an attempt to soften the blow / justify an inevitable imminent funding RNS . They need huge amounts of money and I can’t see that being raised at a price any higher than 1p. After that I can see possible drift below 1p due to PI impatience. That will be my re-entrance point, if it should happen. Just my opinion, and would be very happy to be proven wrong as a fellow (ex) suffering LTH.

Yep - I've being watching on the sidelines as a long-term hold option for my ISA, and have just bought in today with some cash already in the ISA. I intend to buy more shortly in the coming tax year. GLA

Just bought £12k after sitting on the sidelines for a while. I'd previously ridden the 10 bagger a couple of years ago from 0.3p to 3p, and could see this easily hitting 1p this week. GLA

Yep, looks like £50 should be a good base to consolidate, and push back on towards £55 in the coming weeks. GLA

@Dramchart - exactly!

This section from the y/e report summarises why!

Ameriabank is a leading franchise in the local market - #1 by loans and #2 by deposits - and is the "top-of-mind" banking brand in Armenia, with further upside to grow, especially in the retail and SME segments, leveraging the Group's experience and know-how in digitalisation, payments, and customer experience. I believe this acquisition, which was approved by the shareholders on March 14th, is a great opportunity for the Group to increase scale and unlock further growth. We are set to acquire Ameriabank with our surplus capital, with no dilution for shareholders, and it is expected to be immediately earnings enhancing with an ROE uplift. Importantly, our dividend and capital distribution policy and payout ratio of 30-50% will not change. Considering the Group's strong performance during 2023 and robust capital and liquidity positions, the Board intends to recommend, at the 2024 Annual General Meeting, a final dividend for 2023 of GEL 4.94 per share, making a total dividend for 2023 of GEL 8.00 per share. This is a 5% increase on the dividend for 2022 - a year boosted by significant one-offs and FX income which broadly normalised in 2023. In addition, the Board has also approved an extension of the buyback and cancellation programme by an additional GEL 100 million. This represents an overall dividend and share buyback pay-out ratio for the year ended 31 December 2023 of 37% (2022: 37%).

To be expected, but holding well - still at £50, which we'd have been delighted with reaching only a few weeks ago. Will be interesting to see if positive movement following the investors zoom call at 2pm, which I will try and join if I have time.

The summary all looks very positive to me - maintaining dividend growth, and more share buyback in 2024, all whilst funding Ameribank acquisition which will boost revenue and profits after an already stellar couple of years.

Revenue forecast is 659M apparently, so that's the ballpark to look at, albeit the Nov 23 results were very slightly below forecast and that certainly didn't hurt the continuing share price growth!