Member Info for slowlyslowly

Anyone else noticed how quiet it is?

@theonlywayis...: 0.032 you say? It's already hit that. Next target?

0.9 would be a 30-bag from here. That's a lot to achieve in the last 80 minutes.

That's the new ticker, yes.

Whether it changes tomorrow, no idea - I've not seen anything to say it does take effect then.

Does anyone know if this board changes over, or does this chat sit archived under PSL and someone has to start a new one under BOU?

A guess, a wish, or rumoured inside info? ;-)

Right. But was I wrong to say that they need to do a new warrant release / rights issue _before_ they announce a potential RTO target?

Absolute share price is irrelevant - change the number of shares in issue by a factor of 10, the share price moves accordingly, without any change in sentiment.

Can you remember the market cap of FRR when the share price was 0.09p? That would provide a meaningful comparison to PSL.

They can't just throw one out, but they can have a rights issue that is underwritten should there be insufficient take-up. But that takes a good two weeks minimum. Res 4 had the potential to dilute out existing holders. It also had the potential to significantly speed up an RTO.

But it also surely means that they cannot do what some here are suggesting: Announce the target of the RTO and then have a placing to raise the funds. Once they've announced the target, it's too late.

Found it.

Page 38 of https://www.londonstockexchange.com/companies-and-advisors/aim/advisers/aim-notices/aim-rules-for-companies-july-2016.pdf, guidance notes on Rule 14 (RTO):

"Following the announcement of a reverse takeover that has been agreed or is in contemplation, the relevant AIM Securities will be suspended by the Exchange until the AIM company has published an admission document in respect of the proposed enlarged entity unless the target is a listed company or another AIM company."

Do the rules require a suspension as soon as the target is announced?

Thanks, Havoc - I'm inclined to agree.

Oh, me too. I'm confident this is going the right way (notwithstanding there is, of course, still a risk all could fall apart).

I was just wondering why Feather felt the RNS this evening was particularly significant, and in particular why it indicates a timescale of days rather than weeks. Obviously, I'd like that to be the case, but I'd like to know how we can see that from this.

Why do you say that? It just confirms it's now a shell, which we knew before tonight, so why does this indicate an imminent timeframe?

Do we get another RNS with voting figures / percentages for each of the resolutions, or is that only required in main market?

sell all assets?

I'm not sure they have any. I suspect the Romsey office was rented; the previous RNS said that intellectual property was proving time consuming (and so expensive) to negotiate a buyer for and for a very limited return. Other than the odd office chair, what else do they have to sell?

It's not going to 60 bag just on the news that resolutions 1-3, but not 4, passed.

As you allude, the conditional issue of 1.6bn shares (and associated 1 for 2 warrants) cannot now happen.

The Board of Directors of PhotonStar (the "Board") announce that, following the conclusion of its general meeting held earlier today (the "GM") resolutions 1, 2 and 3 of the shareholder circular posted on the 13 March 2019 (the "Circular") were duly passed.
The Board further announces that special resolution 4 of the Circular was not passed. The Board are currently considering the next steps for the Company and will post a shareholder update in due course.

Who from here is there?