Member Info for richred_uk

"I wonder will another CLN come into play as we know Venus are taking no more shares."

Venus could still take more warrants at 0.065 pence, but I don't think they are covered by the VWAP 85% thing that the actual shares were, so there's not a lot of money in them at current levels (15% if you can sell at 0.075). I assume but haven't checked that the warrant exercise is totally in the hands of Venus and Syme couldn't 'force' their' exercise. I'd have to check #'s on the warrants to see how much they could bring in.

"8.5m from Vechain funding will generate revenue for syme as you well know :) but are ignoring"

I forget whether the 8.5M is £, € or $, but they are all pretty similar right now :)

At 3% (upper end of fee scale per the initial IM RNS), that 8.5M would produce 255k annually. Per the Interim Results, the 6 months Jan - June 22 had a negative cashflow of £2.3M, so the ANNUAL income from the 8.5M would cover 2/3 of the MONTHLY cash burn. It would help for sure, but I wouldn't sit back and assume that getting the 8.5M out there in funded IM's puts the company on an even keel.

"we have a further 8.5m funding from Vechain alone :)"

I'm fairly sure that 8.5M is reserved to be used for funding IM transactions and can't be used by the company to pay their bills/ cash burn.

Omni Holding @ 26/7/22 (RNS 1/8/22) 1,560,430,000 3.684%
Omni Holding @ 6/10/22 (RNS 11/10/22) 1,332,981,688 2.835%

They had to issue the TR1 as they crossed a % threshold, most of that is down to dilution, but they have also reduced the absolute # of shares they own between the 2 RNS's

The new shares aren't actually issued until tomorro w, but in any case, I suspect they have been forward sold so won't go through the market as a visible trade. Will watch out tomorrow though.

"Nobby, what evidence do you have that Venus (& its investors) have sold any shares?"

The prospectus

The lack of TR1's

BEST = VWAP

56,617,688,143

Plus an extra 2.1 billion warrants at 0.065 pence. Be interesting to see if that price can hold as I don't think the BEST applies to the warrants.

Of course as Venus were issued 8.7 billion new shares, watching the TR1's will also be interesting.

I wish to complain about this thread what I participated in not an hour ago from this very board.

Yes it is

"Thanks Richred - you are also betting against SYME."

Incorrect but then most of what you post is.

Fewer shares or less money.

Thanks for that find apunter that looks like hard reading and I won't pretend I am going to follow the detailed maths, but it does look like a worthwhile read and might explain some questions (and doubts) I have about the concept behind IM.

"I don't even post here anymore ... its really disappointing"

No, it's not.

Now after all their hard work, I implore you, bull or bear, read the damn thing.

So are you calling this the high - you won't get this chance again.

Or the low - you won't get this chance again.

;)

No, because they hold zero shares, as confirmed in the prospectus.

If I am reading this right, per page 2 of the prospectus: Major Shareholders, Column 1 "As at the Latest Practicable Date", the Venus holding is zero.

If the 3 expected stages of admission are carried out (Admission, Secondary Admission & Further Admission), Venus would hold 20,802,484,385 shares, or 31.5% of the company if they sold none of the shares.

On form to date, accepting that they have had many shares issued and hold none, does anyone not expect Venus to sell those (almost) 21 Billion new shares? Does anyone not expect the sale of that sort of volume to depress the SP?

A >3-month old press release? Not exactly new news.

... and yet the price is down 4 - 5% again today (exact %age depending on which site you look at - 5.41% here, 3.65% google).