Member Info for OnTheDip

Thanks John,

That’s why I’ve left the remaining 6m in my SIPP here.

I’ve also time after time been burnt here, waiting for that turning point.

I too wouldn’t invest in anything with such lack of transparency again, so lesson learned here too!

I’m just dubious as to what further investment and dilution will occur and being burnt here many times before I’ve taken half of the tables and will roll the dice on the remaining shares, just in case this time IS it!

Best of luck too!

They were my sells today (just under 5m)

Been here over 6 years now and this sudden switch to medicinal cannabis feels like more rainbows to chase, so I’ve cut my losses here.

I’ve still got 6m in a SIPP here which I will ride out here and see what happens, so hope it comes good, but 6 years to then suddenly chase direction is enough for me to half my holding and let the rest ride.

Let’s see what happens over the next few weeks

Will be interesting to see what happens here. At least something is happening for once!

Thanks Optimist, yes, it's certainly intriguing. I've just read the below from a previous RNS and I'm somewhat confused:

"Subject to the Right of First Refusal being agreed and entered into, the
exercise of the Right of First Refusal may constitute a reverse takeover under
Rule 57 of the NEX Rules." "

Along with this from today's RNS:

"This investment marks completion of the first of what is planned to be a two
stage investment process, prior to offering a full share-based offer for all
outstanding shares in Apollon, as previously announced on the 16th, 24th and
29th May 2019. "

So, based on 0.71% being worth £300k today, that values Apollon at £42m... so how can Afri offer a 'full share based offer for all existing shares in Apollon', if Apollon is worth £42m and Afriag is worth circa £2m-£3m?

Or am I missing something?

Sorry, not really been up to speed here but I assume this indicates a RTO?

“This investment marks completion of the first of what is planned to be a two stage investment process, prior to offering a full share-based offer for all outstanding shares in Apollon, as previously announced on the 16th, 24th and 29th May 2019.”

I share the exact same view! Hold for all these years, sell out and then some transformational news gets released a day or two later.

Maybe wishful thinking, but let's see. As far as we know there is still a licence process ongoing. Hopefully we get further news soon.

Yes, you can see why as well. Always jam tomorrow for PIs, meanwhile those involved with the company are no doubt paid well regardless of performance.

KNDC (Formally REM I believe) seems to have the majority of disgruntled investors aimed at DL. Although, I agree, there seems a lot around in general. Can everyone be so wrong about the guy, that's the question....

Same old story here though. Just not worth selling out at these prices. So may as well ride it out...

Yes, almost looks like an attempt to distance himself from that side of the business, else why remove it?

Very odd. Coupled with the usual radio silence it’s not great...

Anyone noticed DL has updated the header of his twitter and has removed the reference to “and oh... helping to feed the world!”

This was obviously related to Afriag previously. The only possible mention left is medical cannabis... but that’s more focussed on LGC I believe.

Not sure what to make of that....

Everything I can see regarding the home office's issuance of licences for controlled drugs seems to mention 16 weeks for a decision. It does mention Cannabis and Cannabis products, so assuming that comes under the same remit and we started the ball rolling back in September then maybe we're due a decision within the next few weeks?

Alternatively I guess the flip side could be that the clock may not start until the application has been accepted (i.e. supporting documents, queries/clarification), in which case we've got no idea what's going on in the background.

I'm hoping for the first scenario, but prepared for the latter (As a AFRI holder I think we're all used to that now, but hoping this finally becomes the rocket up AFRI's backside that we've been waiting a number of years for!)

Yes, the RNS stated it will take 'some time', but no further details on how long that takes.

'Applying for this licence is a very detailed and highly regulated process and it will take some time'.

The good news is the RNS also states that the licence is being 'Sought in the name of Afriag Global', the bad news is that it's more 'Jam tomorrow' as nothing else seems to be going on here again at the moment and the SP is still down in the basement!

Obtaining this licence could send the SP flying, especially if the logistics business produces some good results over the next few months. However, it's more speculation and waiting to find out unfortunately

I'm another one who's been in here a good few years now...

Worst move was moving (or being politely asked to leave if rumours were true?!) from LSE. Since then it's been tumbleweed time here.

I too have been at the point of "Finally, this is our time...." and then nothing happens for another six months, rinse and repeat.

DL has played a shocker here. PR has been awful, the lack of transparency from SA, no one probably even knows we exist anymore and probably don't even see the RNS's (I sometimes miss them if they're not posted on here!)

All in all an absolute disaster and shortly we'll be asked to stump up cash for the Cannabis side of things. I sincerely hope there's some form of good news with a tie in with LGC/AAAP or something by then, as otherwise it's going to be massive dilution and then likely back to tumbleweed time for another few years if history is anything to go on!

It is indeed very strange.

Such large volumes (for what we're used to seeing bought of course!).

I'm still none the wiser as to why, but long may it continue, whatever the reason.

Could this be a way of Afriag being transferred into a main listed company (LGC / AAAP etc?)

Appreciate maybe LGC would be more likely as it's a much bigger company than AAAP, but AFRI market cap is tiny at the moment, so anything is possible I suppose....

That's 60m+ shares that have been bought (plus maybe whatever delayed trades are yet to display, or trades happening in the background)

All at the same price of 0.001p.

hmmmm... no idea what is going on, but at least there's a bit of excitement here for once!

Not sure what's going on? Looks like existing shares are being transferred between two parties at an agreed price of 0.001.

Anyone have any idea how this would work? Not sure how this money would find it's way to Afriag if it's in the form of a strategic investor (such as the HNW individual over at AAAP who has acquired a large shareholding)

Either way, there is no way that there are chunks of 25m shares freely available on the market to buy without affecting the SP, so must be a transfer of shares.... but to who....and more importantly, why?

Those are the largest buys I've seen here in a long time. I assume they must be buys as 10m shares sold into the market I highly doubt they'd get anywhere near the price they did for them.

If shares can't be raised below 0.001p then the cynic on me is wondering whether these buys are an attempt to push the price up to above 0.001p to allow a placing to be done at that price, rather than at a premium to what the current SP is?

I could be completely wrong of course, just seems odd to suddenly see a 10m trade pop up out of nowhere...

Thanks for the response bigmj

bigmj,

Do you mind if I ask if you have a price target in mind here and a timeframe to achieve it?

Market cap seems crazy cheap at the moment.

Maybe an attempt to raise awareness that Afriag will soon be in the Cannabis game? Either way, I agree, and as usual the news has had absolutely zero impact on trades here.

DL really has messed this one up big time from his serious neglect of PR and news flow. He's going to have to do better than the news yesterday if he expects even the slightest bit of positive impact here after the years of him having the opposite effect due to poor investor relations and lack of news flow.