Member Info for SmoothOperater

As they aren't drawing a salary currently, I think they would have walked by now.

Pretty obvious they're negotiating a new timeframe IMO

As we're post consolidation, the price moves better.

The sell off was over done but it cleared out traders and weaker hands.

The BoD are definitely negotiating, we don't know for sure what the institutional's feedback was, perhaps there's a bigger deal to be had? Managem wants to divest several assets.

I don't think the BoD are taking a salary here, so whilst there is no RNS of any of them leaving, it would be safe to assume things are being worked on in the background.

The current share price, just reflects the uncertainty on the situation. Whether it goes down or up from here without any news is anyone's guess.

Chris Chadwick in particular, has a strong reputation of getting deals done and has raised $billions over his career.

The termination RNS , never stated they couldn't raise the funds , just they couldn't raise it within the timeframe of the SPA. (possibly today being the deadline).

I'm looking forward to seeing how things pan out and will continue to add.

I never stopped buying, I aggregate my positions.

I don't mind people venting their frustrations, it was a massive disappointment and (on paper for me) a considerable loss.

But , it is a very strong BoD and the RTO just looks to have timed out.

So I think it's still all to play for.

The RNS clearly says it was unable to do so within the timeframe... Think about it.

"The Company is now examining possible alternative options to which may allow it to continue to engage in the closing of the Acquisition"

I'm not disputing the possibilities, but we're still in the holiday period, and it will give the company time to form a potential solution and then negotiate.

There was a lot of work involved in getting the transaction to the stage it was at and remember the statement below:

"it has been unable to do so within the timeframe allocated in the SPA"

Have to wait and see what the company, comes up with, my loss is only a paper loss currently but £1.55 million MCAP is an absolute bargain. IMO

It certainly wasn't the major shareholders, who had RNS in December.

Whatever happened, happened close to Xmas eve IMO.

It's not nice to take a big loss but it is all part of investing/trading in lower cap companies.

Nobody ever wins 100% and there's always lessons to be learnt.

At times like this, I look at the debt and the MCAP to gauge the value.

There's minimal debt here with a £1.68 million MCAP for a main market listed company, it's actually offering tremendous value given the consolidation process is completed.

Just my own thoughts, but Managem wants to divest multiple assets and perhaps CMO was a stretch and maybe there's a smaller asset available and they could grow to Mid-Cap from there.?

They should have suspended until everything was in place.

Agree, they do need to give an interview because shareholders need an explanation, and reasoning.

Where's the debt you said it was saddled with, as far as I can see the costs have already been raised.

There shouldn't be any debt associated with the transaction as the funds have already been raised.

No doubt the BoD would have taken a position through the CLN mechanism but I'd like to see them take a position from the open market now.

They had raised $25 million+ to buy CMO, it looks like the problem was the minimum of 38% of the share count for existing holders, that was set in stone.

Market conditions had changed, who knows 25% and the deal would have went through?

That's probably the area of the negotiations

Siennaj

From the RNS:

"However, in light of feedback from prospective institutional investors in connection with the Placing and market conditions, it has been unable to do so within the timeframe allocated in the SPA"

Market conditions, Mr Spreadex holder and others selling down the price had changed the structure for current shareholders alignment.

The prospective placement investors, their offering due to market conditions, was most likely was far cheaper to buy in the open market and therefore now unacceptable.

The current timeline for the SPA, didn't allow enough time to renegotiate placement terms and therefore SPA was terminated.

With hindsight, the company should of suspended, to prevent the above changes.

Going forward, a placement terms renegotiation & SPA, is most likely to happen in January, to see if they can find a way forward.

If that fails, another RTO target will be searched for.

Post -consolidation, the share structure is ready and will be attractive to potential entities. The legacy assets are worth around ten times current MCAP, there's a lot of value for current shareholders to gain from any RTO.

Time will tell.

Wizardoz

I stand by that, it's had a large set back today but the management team is very strong and as long as they perform, I'll be waiting at the end of this rainbow.

Today, I increased my holding and will continue to build. The last four months worth of buys are disappointing to be under water, but I know increasing my holding in a company with a small share count, can dramatically improve your position.

Traders and weaker hands always sell first, because they don't have the belief to deal with larger set backs.

The proof is always in the outcome, but being factual helps .

Merry Christmas.

But Orion wasn't involved in the placement funding.!!

Your Orion argument , is therefore false.

I think we were very unlucky, it's not a lost cause though.

Chris Chadwick, has a proven history of raising millions and should be able to continue doing that.

The share structure, it's already been consolidated, has a low share count,

The company is oven baked ready for an RTO, they just need to get the required funding or find another RTO target.

It's main market listed and therefore no six months rule applies.

Disagree, it was a late decision due to being unable to meet the funding requirements within the given timeframe.