Member Info for stephen_pearce

Thanks Zumore

You've basically just confirmed that as JP wasn't a director of RGM on 5th Dec, it's therefore impossible for him to be a closed period at RGM.

What happened after the date of the placing regarding his employment, is completely immaterial.

Those are facts, and black & white

Hey, even though it wasn't £5m... He grew SOU to a £BILLION company, which makes his salary only 0.5% of the mcap

Most directors at the arse end of the AIM market get around 2% +

JP is cheap in comparison :)

Only an employee or director of a Plc can be in a closed period.

When the placing was announced, JP was neither employee or director, he was inside, but not closed.

Just cos at the time of the GM, JP was then a director. doesn't change the fact when he took part, he wasn't a director

Thems the rules, not opinions

lol, who's arguing?!?!?

Of course Parsons was going to join, but that doesn't change fact that he was in an RGM closed period. Inside yes, but not closed.

2 very different things

Parsons wasn't a director when the placing was announced 5th Dec, he was a proposed director, then formalised in the GM RNS

Thus he wouldn't have been under the same restrictions as the existing board before the GM

Where did you get that figure from btw?

Cos I looked at the AR's and it isn't that much, unless I missed something

Well, if you think about it a moment...

Parsons is potentially taking on the 700k debt, that would be his interest in RGM. We don't know what will happen ofc, but that could be converted into shares later on - thus Parsons gets his shares that way.

If that transaction is done later on, at a higher price, it actually works out cheaper for RGM holders too.

JP could have invested the 700k in RGM for placing stock, RGM paid the cash to YA/ RF. But buying the debt later, at a hopeful higher price, means cheaper equity for RGM holders.

Even if it's done at the 2.75p price, RGM holders don't lose out versus whether it was raised & paid with placing cash.

True dat!

We do all have common ground here

Yes, and it'll be in the hands of the Chairman. That's the point, and some other distressed seller for example.

"effectively" debt free assuming James Parsons takes up the option to buy the debt off YA/ RF

Whatever the price was after the announcement is immaterial to what the price was before the announcement

ie, an 8% discount

And yup, had to have been forward selling, judging by the volume and 2 trade sizes that only 2 people held that amount of shares before the GM

4 Dec the bid price was 3, that's an 8% discount actually. My mistake

By heavily discounted, you mean 9% discount.

Or another way to look at it...

They see a much higher share price coming and have no worries being locked in at historical low prices

You can keep your tidy profit!! I want a ((((( MAHOOSIVE ))))) profit :)

Shouldn't you focusing your energies on RRR & POW where AB still has a job like??

89m TVR
30% of TVR traded since deal announced
60% of the shares within known hands, 30% locked in

Suggests most of any slop has been traded already

Made my preferences clear.... I'd like 100% of Mambare in RGM, and give Vincent a spot on the board

And a Partridge in pear tree. :)

Thanks Zumore! Now, I'm nursing a semi !!