VDTK collapse?1 Sep 2023 14:21
Clearly the company is desperate for cash. Such a huge discount and dilution for existing share holders if scan reward for remaining loyal and not jumping ship when the first signs of trouble were there over two years ago. I decided to hold and lower my average further. And further and further. Just when I think things have to be about to improve this BODs manage to screw something else up and kick me whilst I'm down.
things to note....
1) they found someone to throw £500k into this. Unless that person has been allowed to forward sell a huge chunk of their shares - the big sell off started very suddenly back in early June on no news - presumably they intend to hold until the sp has recovered well above .45p.
2) no current or former Directors have sold a single share.
3) they have existing agreements in place with Lindab AB and Metrotile and ARE selling solar panels. In what kind of numbers we just don't know as the BOD fail to update the market on any progress with commercial contracts.
4) when did discussions with NZV begin? Are they the new investor?
5) If shares are being forward sold then I think they have 6 weeks to declare a Tr1 if they still hold above 3%. Surely if over 100 million shares are going to be shifted in 6 weeks then the sp would be well below even .5p by now.
6) I find the CEO's comment nauseating in the extreme and lacks any kind of empathy with existing share holders. It's as if he thinks wow, it's tough out there and look how well I've done to get this deal without for a second giving a thought to ordinary folk like myself. And therein lies my biggest frustration with this company, the appalling lack of comms. They come out of the blue with no warning. Rarely have a professional amount of detail or clarity and thus this all leads to the main reason so many are jumping ship now: no trust. No belief in management's ability to play with a straight bat. Smoke and mirrors as is usually the case with AIM outfits like this.
I almost couldn't bring myself to look at the Solivus website because I knew it would be better than VDTK's. Our Directors seem to do almost nothing for their money, are placed all over the globe so presumably never have face to face meeting between themselves, never mind prospective partners.
No idea what lies ahead now but for me it's been a terrible lesson in why not to believe everything you read. Positive spin and wishful thinking have brought to the brink of financial ruin here. My only hope now is for some of my other stocks to do well and I start all over again. Good luck to all genuine investors here. Please be careful with a company like this where the Directors rarely put their heads above the parapet to communicate with share holders. Clearly there's a good reason they don't. My bad.
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