focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
Am I the only person who thinks that the best way to find out what's happening is ask the Company rather than speculating? They have told me this morning that Valentina Slater has been raising money to buy property and has now finished and will not be selling any more shares for the foreseeable future.
I checked with the company - she is raising cash for personal reasons. Not up to me to guess why but we all know that people sometimes choose to raise cash even when it doesn't ostensibly make sense. Apparently she is buying property for the kids or something like that. Fair enough.
Not a PLC Director - a PDMR. I believe she is Sales Director of Direct Accident and looks after the garage relationships. Might be worth checking with the IR guy if there's any colour.
I wondered about this too and rang the Company, who told me that this declaration was made under instruction from the Takeover Panel on technical grounds; but they made it clear that no decision has yet been taken as to whether these Directors are going to be joint offerors. Presumably any such decision will be dependent on terms, as and when these are forthcoming.
Sorry what's OMG?
In order to place alternative finance on the table there needs to be a company to present the alternative finance to. If the Company - as it will do if the resolutions are thrown out - they can't keep the lights on any longer and all their suppliers will pull the plug. And I imagine Barclays will be at the GM in the front of the queue to get their million quid back.
My reading of the two most recent announcements tells me that if the vote goes against the directors - who are propping the business up - then the company will immediately go bust. So in reality shorting the stock is quite a smart move because you can't be expected to deliver stock in a company that no longer exists. If the vote is carried then everybody will be scrambling to cover their shorts and anyone who has subscribed and been allocated stock will hang on to their shares and we'll see the biggest short squeeze since NWOG. So if you've got 'em, hold 'em, use your vote and sit back and watch the fun post Christmas while you digest the turkey.
I don't see how you can say that you have saved investors money when all your efforts seem focussed on getting the share price as low as possible and crowing with delight every time it falls. TPOP seems to be the fall guy for your hatred of Jimmy Wales.
I rang the number on the results announcement and spoke to some double-barrelled chinless type who said he was in charge of IR. He says that the Rosenfeld children are no longer connected with TPO in any way. James Rosenfeld was replaced on the board by Juliet Rosenfeld, who is apparently his stepmother and not his mother, which I didn't know. My guess is they don't get on too well. Anyway, the IR guy's view is that it's up to them if they sell down here but they have no special knowledge of what is going on. Can somebody with deeper pockets than me bid them for their piece and get them out of the way? Just my thought.
How long did it take you to do all that research? Don't you have anything better to do?