My so my views5 Dec 2023 10:20
Like I said on Sunday, let's have eyes on the prize and not the bickering. Oh and the 1 trade thing came true.
Here are my views, my opinions.
I have been wondering why RW has been keeping his trip to India powder dry and I can see why. I can also see why the placing has happened now in relation to the timescales announced.
The placing
We needed money, we all knew we needed money. The only questions were at what price, how many and how much was raised. We now have £1.1m in the bank with shares coming to the market around the 18th December. To raise £1.1m for a micro-cap, sub decimal decimal share in today's market is exceptional work. There must have been something in the presentation to convince parties to hand over collectively in excess of £1m, they must have been more convinced by RW that most of us are as we sit today (there have only been 14 trades at the time of writing). There will be churn, and to churn a significant proportion will take time.
RW trip to India
I understand that Roland is off to India on Saturday 9th December. It is my belief that he will return from the visit with the Letter of Intent signed. I think he is going to India to sign it, have photo's taken and generally do the media press the flesh type stuff. It hasn't been announced because I also believe RW wanted to get this RNS out and dust settles before the India trip is announced, so I'm thinking Thursday or Friday this week for the India trip to be tweeted.
3 months from the LoI signed.
Once the LoI has been sign (next week?) I believe the price will rise but it will be sold into. This will give all those that bought into the placing that want to get out with a small but acceptable profit to do so. Then essentially the 3 months is to churn the 1.375 billion. So the placing gets us £1.1m and it also gives those placees the rise and exit strategy they wish for when they invested. I'm sure RW gave placees a tighter timescale for signing of the LoI than he gave us in the RNS today (before you look, he didn't say when).
So it's a great 'long term' RNS today.
RNS today announcing placing.
Letter of Intent signed next week with associated price rise
Placing shares can be forward sold/ sold when they come to the market after the 18th December giving placees the profit they wanted before they invested.
Three months to churn any of the 1.375 bn shares that want to sell.
Definitive documentation being signed in March next year.
Significant price rise in March in the run up to sign off.
Money in the bank so should be the last placing before handing over with the Farminee acting as lead operator.
GLA
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