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Deacs
Yes in theory
Deacs1970
Iconic has 46 billion shares in issue at present and the Prospectus authorised up to a further 184.9 billion so potentially over 222 billion shares.
Which after consolidation will be around 22 million shares if all are issued.
We should better idea of scale of dilution after AGM on Friday if resolution 10 is approved by early next week.
Maidit
At the AGM tomorrow to approve the consolidation there is also going to be admission of a huge number of shares as per resolution number 10.
This will permit final exit from CVA but will mean that a lot of exiting debt will become convertible debt in the hands of Linton Capital, OTT, and EHGOF.
I wonder how well the share price will hold up under the coming dilution.
Sharebel
As Wyld is quoted and the value of Tern’s 27% stake can be determined every day why do you think investors can’t factor in Space X and new orders at Wyld?
Wyld is down 6.3% at time of writing perhaps Wyld shareholders haven’t factored in that news either.
Ex
DW may not be getting the shares but the parental guarantee between TAG and 1AF2 in favour of ECP will be a lot stronger when the cash arrives.
Sheep hatch
Tern is a financially tricky position. It needs to raise cash to fund admin costs albeit now reduced by 40% but it can’t issue any more shares as permission was refused at AGM. Its only liquid asset is Wyld shares which it may have to continue selling.
Wyld needs to raise cash and with Tern looking to sell that won’t help in any capital raise.
If you like Wyld’s technology then buy Wyld shares because Tern’s holding in Wyld could be significantly reduced by above factors.
maidit308
iconic doesn’t have a strong business model. it’s own ***starnews which it purchased for £30,000 quid from the administrators.
iconic said in its recent prospectus that it will burn a £100,000 a month for next 12 months.
the consolidation will permit iconic to issue bucket loads more shares to gullible punters though…
Using approx fx rates
Sales revenue £33,000.
Loss £1 m.
Six months cash left before next capital raise unless things change dramatically.
Chewy8uk if AZ had got shares returned then he would had to issue an updated holding RNS. He hasn’t.
The loan shares have long since been sold in my view.
Maidit
You have ignored the £20,000 debt conversion for over 689 million shares.
Maidit
I hope you realise that the share consolidation does nothing to alter the underlying business prospects which are very limited. It will permit Iconic to issue billions more shares though.
Iconic will be issuing billions of shares or (millions if it is post consolidation) to pay off EGHOS, Ott and David Sefton company as set in the Prospectus.
The Prospectus said that Iconic could offer up to 180 billion new shares (equivalent to 18 million post consolidation) to quadruple the number of shares in issue and that is before any share issuances to implement an RTO.
Finally, the last time Iconic did an RTO it went from 2 billion to over 40 billion shares in under 20 years and ended up in administration.
Maidit
John Gunn was very positive when he undertook the RTO in July 2013, a decade ago.
He has a dream and your funding it.
EGHOS offload a load more shares.
Billions more to be sold though.
Lanks
It’s stated on page 49 of the Prospectus.
OTT get £50,000 a month for providing the Board of Directors.
Other costs will be associated with listing fees, audit fees and financial adviser fees.
The Prospectus cost over £100,000 to get published.
STFCsam
Given Iconic is burning a £100,000 a month in expenses why would a share consolidation make it stabilise and become profitable?
Clueless
Sweepie
The loan repayment was a current liability and has been paid from proceeds of recent U.K. tax claims or T03 warrant.
Wyld had net cashflow from operating activities last quarter of Krona 10.4 million on external sales of 360,000
Its still some way away from being cash generative.
Maidit308
The tiny share trades are probably traders on zero commission platforms.
If they hold less than 10,000 on conversion they will get wiped out.
If you hold 19,999 share you will get 1 new share and the remaining 9,999 old shares, now being 0.9999% of a share will be added to other fractional interests and then sold for benefit of the company.
Oops wrong Board
Apologies Dr Micho
Dr Micro
The interims to 31 December 2022 have already been published. Iconic has a 30 June year end.
Post balance sheet events and the current financial position are set out in the Prospectus.
You post like an under researched ramper.
Sharebel
Tern has only 5.7% of its 389 million shares in issue not in public hands according to its AIM rule 26 disclosures on its website hardly what I call a tiny free float.