We would love to hear your thoughts about our site and services, please take our survey here.
Guys in fairness this is an AQUISE mistake. The board can be blamed for loads of stuff, and rightly so, but the AQUISE corporate advisor shouldve managed this and a suspension shouldve been advised immediately once assessing the RNS detail. Chap below ;)
AQSE Corporate Adviser
First Sentinel Corporate Finance
Brian Stockbridge
Anyhoo its done now.
San
Mustard
A reverse takeover is an acquisition, whether effected by way of a direct acquisition by the issuer or a subsidiary undertaking of the issuer, or an acquisition by a new holding company of the issuer, of a business, a company or assets which in substance results in a fundamental change to the business of the issuer or the issuer’s
group or in a change in the majority of the board or voting control of the issuer.
I think the key thing here is a fundamental change to the issuers business. VLRM will have a licensed stock exchange which fundamentally changes the current business (at the moment a shell company). I would ignore the definition on wiki and go with the Aquise rulebook which states that the existing PLC company has to suspend shares when the above is articulated within an RNS.
San
Darren, would say that its a mixture of incompetence and some questionable behavior. The biggest issue i have is with a certain individual being too close to Richard and having enough skin in the game to cause damage to the SP (make of that what you will with the current SP). Too much wink, nudge and photos on twitter with no substance. I could list incompetence points but might be here a while. It has to improve and have communicated this back to the board members
San
Mustard its pretty obvious that there is SP manipulation to drive the SP lower. You can see this through historical level 2 trades and when the MMS flip at exactly the same time in the afternoon, dropping the ask. They don't show the big sell until the end of the day, but know its there because its done off the book. You can see its done off the book because the sell price has been often over the bid at the same time. Its the conversion that's forward selling but the mms are helping to dump the stock without showing a true reflection of the book. They do this to ensure they get their margins
San
Of course there is huge share price manipulation. You only have to look at the level 2 movement between MMS and the rounded sells at points in the day to see that there is clear manipulation.
With regard to suspension, this was an AQUIS mistake to not suspend as soon as the RNS was released not VLRM... not sure regulatory review of RNS works on tip off. Either way, we are all speculating and nobody has the facts at their disposal. As said, all we can do is wait and see what happens in early October. All we can do is enjoy the weather ;)
San
I think a happier place is the final sign off. Until thats done this company has nothing by way of a product that can be developed into a revenue generating item on the balance sheet. Am i happier than i was pre suspension, yes, am i happy with the performance of the board absolutely not! They need to turn this around over the next few months leading to Christmas... This is both delivery and bringing back sentiment to share holders and the market in general. If the GSX is successful with funding and a plan then the mcap should be significantly higher on open, but obviously my opinion based on the value of the GSX, funding on the book and a conservative PE x ratio (3 million current value seems very low)
San
San
Its definitely a good move Mustard. It means that the Share Price isn't manipulated and the only way out of the suspension is failure of the GSX or sign off. They will need to provide a Plan, funding agreement signed off and the GSX paperwork, so no half measures. Its either a yes or no, and no way to rinse for mates rates etc. I see the suspension being lifted in early/mid October after funding clears this month and they can prove a structured budget. Lets see if Patrick can walk the walk as its his turn to step up to the plate and provide his expansion plan
San
San
Pre-agreement perhaps? The rounded sells are the CLN forward selling i reckon so it could be the term agreed with RP. Either way its all conjecture until we find out tomorrow. Personally i don't think its a good sign, but will be extremely happy if i'm wrong :)
San
Yes usually you see buying pressure a couple of days before news but selling has been relentless. Either they have been given the last day to dump as GSX buy news is definitively in tomorrow, or they know its not good news and are dumping before the big pain... We will find out tomorrow
San
Yes i think August will happen and then a flood of news up to December... Cant predict how the SP will perform as its all dependent on dilution agreement and what the following news is. The mcap will respond to any potential valuation increase from the stated ME expansion, but could be throttled on any sell off from dilution. Cant get any worse can it?
San
If i am being honest i think it will rise if the GSX completes and there is some sort of loan agreement with minimal dilution (Stop laughing at the back please). I can see 10-20m MCAP on GSX, money and some plan issued which is around 10p - 20p on current 100m dilution. Depends on how much pump happens on news from September-December
San
Im honest as i have always said and I will call out things irrelevant of them being negative or positive. I do the same on the VLRM Telegram group. I could neither confirm or deny i was talking about that individual Mustard :)
San