Member Info for Pianista

What is the reasoning behind the 30p, I wonder? Or did they just pluck it out of the air?

This is a well-managed, tightly-run business. Current SP is a steal. I'm already overweight, so must leave it to others to spot the buying opportunity.

Everything depends on those accounts which, from what the company have said, will be good. Only if they are less than impressive will the PEs try it on with a lowball offer.

"Massive news. Massive."

So massive that we don't in the end need the fundraising?!

selecta6 - calm down, dear, you’re far too excitable!

There are clearly disparate views on this board on the subject of the cut-off, and I’m perfectly entitled to my view that the cut-off will probably be after the Prospectus is published. I have actually participated in rights issues where this has been the case, so I know it’s not as far-fetched as you’re making out. What would be surprising is if the cut-off date were 31 August, because the company had the opportunity to state this in the RNS, but didn’t. But as I say we’ll have to wait for the Prospectus - if and when it’s published.

Talking of “incorrect ramblings” though.…you say that if cut-off does take place after the Prospectus is published, there’d being a scramble to buy more shares in the market, in order to qualify for more cut-price shares. Well, I for one won’t be doing so (because I understand logical fallacy in your argument), but by all means go ahead if you wish.

The scribblers can scribble to their hearts’ content…..but we all already know that Saga’s survival depends on a return to cruising ASAP. Maybe De Haan can pull some strings with a government bent on destroying the economy?

Based on what normally happens with rights issues and open offers, I agree with rupans.

If the Prospectus is published on 10 Sep, there’ll then be a General Meeting to approve everything at least 14 days later , so maybe the end of Sep. Cut-off will also be around that time, ie around the end of Sep.

Anyway, the precise cut-off date will be in the Prospectus.

Russia's Covid vaccine might actually WORK: Moscow scientists claim 'Sputnik V' jab that stunned scientists when Putin gave it world-first approval proved safe and effective in early clinical trials (Mail online).

Results from two early clinical trials done in Moscow and published today in the prestigious British journal The Lancet, indicate the vaccine is safe and effective.

The Russian scientists behind the studies said the jab stimulated an immune response in all inoculated participants and did not cause any serious health issues.

Mark could pick up a few at sub 20p maybe, but nowhere near as many as 30% at that price, so it wouldn’t make much difference to the cost of 100%.

And the risk would be that if it didn’t come off, he’d want to get rid of them, which could be difficult.

Alan

On the move, so just a brief response.

Opinions obviously vary widely on whether the company will thrive, or wither and die. With lingering uncertainty over Covid, that’s not surprising.

Meanwhile, Mr Market, often wrong, is marking us down. And yet the “smart money” was prepared to pay 33p, subject to some undisclosed “conditions “. Why the mystery? If they were a deal breaker, we need to know at least the flavour of them.

You are clearly feeling less sanguine since you last topped up (at around 14p?), despite your belief, with which I agree, that Covid is on the wane.

Presumably therefore you would have been happy with 33p, or whatever greater amount might have been wrung out of the PEs. This may yet come to pass, if the rumours of renewed bid interest are true.

TheFarEnd -

Firstly, Sir Roger will put in £60m at 27p. That is not dilution, that is the opposite of dilution, because although this will give PIs a smaller % of the business, it’s now a more valuable business (to put it mildly), so there’s a net benefit to PIs. That’s why the SP has risen from its recent lows.

Secondly, the open offer will then allow PIs to again avoid dilution simply by participating in proportion to their holdings.

“...in order to avoid dilution”, my last post should have said.

"My average is 16p so anything below is a bonus".

Your average isn't relevant to the decision to participate. What is relevant is the discount relative to current SP. The greater the discount, the greater the incentive to participate, in order not to avoid dilution.

"the incentive to participate in the OPEN OFFER for me is slender"

However, we still don't know the offer price. It's a "maximum of 15p". Suppose it's set at 10p?

Alas_Smith, you strike me as an unlikely victim of "cancel culture" by another site. Their loss is our gain.

My last post was in reference to Tiger's post.

The share price is 17p and in a downward trend. IMO, that's the market saying that the current deal is too small and that it won't work.

I don't think enough time has elapsed since the issue of the RNS for a "trend" to have been established, to be honest. You mention 17p, but I'm being quoted 19p to buy at the moment. But let's see what happens over the next few days, at least.

FJGooner - thank you, a useful and reassuring post. And a pleasure to read, unlike most of the unintelligible dross on here.

...Sir Roger pops up just when needed, as the BOD is fending off a 33p “approach” from the US.

Who called whom I wonder?

Yes, loads of tiny trades at exactly the same time, to the second.

Or is the time of deal shown just the time the MMs chose to report them as.