Member Info for Sam1337

no update on nomad but if they announce a nomad in the next 10 days then we are back in business.

so funding is still on the table and mothae has gone but they can still get it through the government? they are still negotiating funding and still want to keep on it on good terms for shareholder i.e minimum dilution and maintain shareholder value, sounds to me that suspension has taken place to protect the shareprice as they continue their negotiations. I cannot imagine what the shareprice would be if they did not suspend now, has pm played a blinder?

be careful guys hong kong based business, everything is probably fake you know the score

Spoke to them late last week Took me a few tries to get contact.

even in the current climate it is incredibly easy to do a placing it is unbelievable to think he would let this go under when an easy placing will do the job at a discount.

The terms of that loan are not good. In this market it is easy to find money if you want to dilute the hell out of the company and at a significant discount. Philip manduca has always said that he wants to keep dilution to a minimum and wants to retain shareholder value, this is where the problem lies and probably why it has taken so long.

Yea they will need to know their position and see their books etc but they will not require the company to have funding before a nomad comes on board.

chauvelin that is incorrect Nomads do not care if a business/company is fully funded, look at most of the dog companies on AIM.

The only way it will open sub 1p is if the placing is at 1p with a current sp of 4p i really do not think they would do a placing at such a discount, around 2-3p is more likely.

jonjo you have not said why you think they will not get a nomad? They do not need $31million so no idea where you got that number from.

Also to add onto that surely due dilligence on PRGs book will be very quick as they are not producing revenues etc yet.

Further to bigbites post on cbuy - Look at the state of CBUYs expenses and a new nomad still took them on - 'Administrative expenses, excluding share based payments, increased to £3.658m H1 2014: £2.681m), reflecting continued investment in sales and technology to exploit the market opportunities'

Jonjo why do you think they will not get a new nomad to take them on, I am interested to hear your throughts. The loan has been sorted into convertable shares and they only need small working capital to further their search for funding if need be.

Nice find bigbite I see that that the timnig of the nomad resignitation was into the new year and they say they could not get anywhere as the city/LSE shut down for 2 weeks, very unfortunate.

Holee I think there is no coming back if it de-lists it will be the end. But I would not think like that still no reason to believe this will delist just yet.

Why would we know by now, they have another 2 weeks and a Nomad would do their due dilligence.

But again I am sure there is some leeway in this deadline, I do not believe for one second that a company would get kicked out of AIM for the sake of a couple days/weeks over thet stated amount. Probably more of a guideline imo.

I just fail to see a multi-millionaire hedgefund manager will let this fail for some working capital which could have easily been provided through a placing of they wanted to.

I would not believe those papers How many times is now that those papers have printed buy out rumours only for big players to exit and the share price to fall? 5 or 6 now?

It seems utterly ludicrous that PRG went into suspension over working capital/small loan simply look across AIM and look at the state of some of these companies. You could assume PRG suspended the shares as they knew funding was going to take longer and in turn the share price would tumble which would means a weaker negotiating stand point, the nomad did not like this and so resigned. AIM rules states 30 days to get a Nomad but I am sure there is some leeway in this, if we see an RNS flashing with a new Nomad in the next few weeks then this will be getting un-suspended. Fingers crossed.