Not rushing to sell yet19 Jun 2023 08:46
Obviously I am not happy with what has happened here but I am not rushing to sell. It seems the worst scenario is 1p per share in a mandatory sale of my shares. However in April they said that in addition to the 3.385 billion new shares to each of ZQ Capital and Southern Fox under a share subscription at 1p each......."it also plans to offer existing shareholders, including ZQ Capital and Southern Fox the chance to buy up to 689.5 million new shares at the discounted price under an open offer. ZQ Capital has agreed to underwrite the open offer and subscribe for any shares not taken up" I wait for further information on this as it may be a way of getting more shares at 1p and staying with the company, even if it goes private. Admittedly trading in private company shares is not as easy as when listed but if the company turns itself and comes back to the market the gains could be substantial. ZQ Capital and Southern Fox see potential and if the open offer to existing shareholders comes I see an opportunity. I have been with a listed company before that went private, decided to keep my shares, remain with the private company rather than take the cash for my shares, and more than doubled my money when they relisted. Not saying this will happen here but I do not see this totally negative yet so wait for further information.