Member Info for ontarget

They are the right to buy shares at a price of 80p within the next 180 days. So obviously if the price stays at or below 80p during that time they are not worth anything, but if the price goes above 80p then they represent free money. E.g. if you have 200k shares you will receive 50k warrants. If the price goes to £2 the warrants will be worth £60k

Well the new BOD with their 40/50/80p options and warrants aren't in for a mere 10% that's for sure, they're in for BIG money and wouldn't be too surprised to see this in the £'s before long. Looking forward to getting my 80p warrants, anyone know whether we get them straight away (i.e. tomorrow morning) or have to wait for something? Will the 180 day period start tomorrow?

On how this may play out over the next few days. With tomorrow being the last day to get the warrants will we see a rush to buy in and subsequent rise? Then what?

This is consistent with the RNS on 21st Dec: "Company's Annual General Meeting convened for 5 January 2017... the issue to Mercom shareholders (on the register at 5pm on the date of the Annual General Meeting) of bonus warrants on a 1:4 basis exercisable at 80p per share and expiring 180 days after issue... The New Board proposes to convene a General Meeting, to take place as soon as possible after the Annual General Meeting, to approve the following proposals: · the adoption of a new investing policy to invest in established industry proven technology, media and internet businesses; and · the change of the Company's name to Monchhichi PLC. "

That's the GM not the AGM.

The RNS doesn't mention the AGM, so surely its still on for 5th Jan?

John Zorbas is the chairman of Niketo Ltd, which owns the other 65% (not 80%) in NWT coal. Niketo Ltd is a wholly owned subsidiary of NWT uranium which is a publically own company traded on the Canadian OTC market (and interestingly has also shot up in the last few weeks). So Zorbas doesn't own any of NWT coal. Either way what would this have to do with MCC selling their 35%, surely they are free to sell it as they wish?

Must be imminent - they have 4 working days left to give the requisite 2 week's notice, unless they do it on the same morning as the AGM in which case they have an extra day.

I agree it has little relevance either way, but it's not true to claim its a buy when as you say it could be either.

Nothing to do with the system. It was at 21p when the bid/offer was 22p/24p. Seems pretty clear cut to me?

Looks like a sell to me at that price. Probably 5p warrant holders.

Obviously if you wanted to hold the shares the warrants would give you you would need to put money up.

If the shareprice goes to 100p during the warrant period that's 20p/warrant free cash isn't it, i.e. you could exercise the warrants and sell the shares in one move, collecting 20p/warrant cash without needing to put any money up? Or am I mistaken?

Yes another 500k hoovered up today while smalltime traders were busy buying at 23p and selling at 21p!

Just phoned up my broker and they told me they do the bed & ISA by selling and then buying back. I asked about the spread and she said it would be done at current market prices (rather than a reduced spread)! Mind you she did also state I would have to pay 0.5% stamp duty on the purchase (not true anymore for AIM shares), so maybe she was the minimum wage night shift.

Great finish. Looks like I'm going to need to do that bed & ISA pretty sharpish!

Definitely looks like buy orders in - they're now bidding 19.66 for 50k+ shares

Minimum notice period for meetings is 2 weeks - so if it's before xmas they need to tell us by tomorrow at the latest.

RNS re: GM on its way perhaps?

I used info@mercomcapital.co.uk.