Member Info for THGambler

Not like Joe to misinform having not read RNs properly!

Wrong Joe. It was £3.25m not $$ exchange rate etc

That's fine they have done it but they couldn't have timed it worse. Those shares are now worth $2.5m (£2.05m) so if they try and sell all those shares at the current SP of conduit they will have lost over £1m in value compared to the option price of £3.25m.

I'm glad we haven't exercised out option yet!

We have £43k in the bank so we have until end of Oct before we need to dispose of holding to fund the company.

Let's hope they don't sell those shares they have yet as they are only worth $2.5m at the current CDT SP!

They pretty much must have exercised when the vwap was at its highest unfortunately.

I hope they don't exercise it today! the vwap is still over $10!!

CDT share [rice continues its downward trend. Bearing in mind the option has a minimum of $5 per share the SP currently is $5.48 so if it carries this slide on the vwap will be below what we can exercise the option at so will not be worth doing until it (hopefully) increases.

£34k cash 30th June, we disposed of shares in Ensi to make another £68k so we had £102k for the quarter we are in. lets say we have running costs of £25k a month we should have enough cash to see out October without having to dispose of any other investments.

That also leaves some time for VELA to see how the SP of CDT goes and when to exercise the option.

Yeah to summarise, cash shouldn't be a problem with the disposals and no more investments. Some of the previous investments during that quarter were at all time lows, mode has picked up a bit but still worth naff all and csfs has picked up some gain recently. They haven't exercised the option which is good news and due to not needing the cash they are in a position to wait it out a bit.

Encouraging moving forward with an MCap way below asset value.

I don't think the vwap started yesterday. We can exercise the option now if we wanted so they will take the previous 10 days.

If they have exercised the option in the last 2 days the value of the shares would be roughly $2.4m. Roughly the vwap is $12.5 for the last 10 trading days, currently the sp for CDT is $6.40.

Knowing our BoD they have probably exercised the option.....

I used to but as said previously the BoD do not update us when they have disposed of shares anymore until their very late quarterly updates so no one knows for sure! like i said last week, it would be really helpful if the BoD could just update us on the amount of shares in each investment we hold and the cash balance, both very easy to get hold of if you are the BoDbut for some reason do not. the website is not up to date either with the amount of shares on each when i last checked.

CDT SP now down to $7.08! its getting close to the £5 lower limit if we choose to exercise the option....

The CDT Share price being where it is (currently $8.50) will be lowering the vwap. Problem is our cash balance, it is my understanding unless they have sold some shares in some investments then they do not have the funds to cover the overheads. So we may not have the luxury of waiting for the Conduit SP to settle before we exercise the option.

Like everyone has said a simple update from the BoD would answer all these questions!

I echo everyone's frustrations with the BoD. BUT this should be the start of the rise not what we are seeing now! Our investments Live and Non Current (Not including SGSC) is roughly £2.7m and our Mcap (at time of writing) is £4m. IS the market waiting confirmation of the exercising of the PUT option before investing here? I know AIM is terrible for herd mentality and we saw MODE do huge rises recently based on nothing but a name change and rumour of an RTO yet when we likely have 175% of MCap in investments we see our SP back to the 0.02s.

Our SP should be 0.04 just to reflect the value of the investments!

Lets say the 10 day VWAP is $12.50 then we would get $4.8m / $12.50 = 384,000 shares. Obviously that would not currently represent a good deal for us as the SP of Conduit (at the time of writing) is $10.13 which would make the value of our shares worth $3,889,920 so over $100k down straight off the bat! due to the volatility of CDT SP its a tough call when to exercise the option...

Yeah that's how it works as I see it.

Interesting opening for CDT! seems to be very volatile!

CDT looks to be up to nearly $20 on after hours trading from what i can see.

Anyway a very simple calculation of the average of the previous 10 trading days would give an SP of roughly $12.50. If conduit goes on to trade over $20 then the $4.8m would be worth far more and allow the BoD to dispose of a chunk and still leave a healthy amount in long term.

Obviously this is all speculation so the sooner the BoD reveal their hand the clearer the picture becomes. Either way our SP is still way below where it should be.

The way I understand it is that when we notify of our intention to exercise the option we will be given $4.8m worth of share at the average of the previous 10 trading days SP (but no lower than $5 and no higher than $15). for ease if that average is $10 then we get 480,000 shares. We can then choose to hold or sell the shares at whatever price we can get for them.

The Murf SP is not doing too well today which isn't necessarily a bad thing as will lower the vwap.