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Yes, I’m really jealous. Wish I held 1,236,000 shares in a company that had lost 75% of its value in 2 years. What a prat.
As a paid deramper (according to BBG), can I just say that I’m very pleased with the £360,000 I’ve earned on this board since BBG started posting.
4 years ago, yes 4 WHOLE YEARS AGO, almost to the day, BBG posted these pearls of wisdom ...
“It’s completely obvious they are negotiating in the background. The auction has commenced and the bidding parties would have sought non disclosure by Mather and Solgold. Happy to sit and wait
There would be no other reason for the news blackout. The news blackout has gone on for too long.
Hold those shares all! Many grubs on here want you to sell them!!!!”
For those posters on here who keep banging on inaccurately about “those pesky auto bots” when referring to automated trades, here’s an explanation which hopefully puts it to bed, recently posted by another contributor on the LGEN board.
https://www.proactiveinvestors.co.uk/companies/news/81/idiots-guide-to-the-london-stock-exchanges-setsmm-0379.html
Did anyone here read the 2nd Feb 12:19pm RNS? How can you read that, understand what is says, and still claim the drop is overdone? The board have admitted they will shortly need another raise, recognise that as things stand, they would not be able to, as any raise would need to be at less than the face value of existing shares, so are seeking an EGM to split existing shares into 0.9p and 0.1p face value shares. They know, and have announced to the market that a sub 1p, and discounted, share placing is on its way, subject to shareholder approval. Therefore, they either get that approval, and there will soon be an opportunity to buy discounted shares we’ll under 1p, or they will go under. How can you possibly be surprised at the subsequent price action? At least (unlike many other AIM stocks) they are being transparent.
Sorry, the one before today’s. In particular this bit.....
As the Company is not permitted by law to issue shares at an issue price which is below their nominal value, the Company's ability to raise funds from investors is limited due to the proximity of the mid-market price of the shares to their nominal value. Whilst the Board's objective is to achieve the highest possible issue price for the Company when issuing shares, it is cognisant that, given current market conditions, the Company may be unable to issue shares at a sufficient discount to their market price in order to attract further equity investment into the business.
In order to enable the Company to issue shares at an issue price which exceeds their nominal value, shareholder approval is being sought to complete a Capital Reorganisation.
The Capital Reorganisation will involve:
· each of the existing ordinary shares of one penny each will be subdivided into and reclassified as one New Ordinary Share (defined below) and one Deferred Share (defined below);
· each New Ordinary Share will be an ordinary share in the capital of the Company with a nominal value of £0.001 (0.1 pence); and
· each Deferred Share will be a deferred share in the capital of the Company with a nominal value of £0.009 (0.9 pence).
Top locks... I read into yesterday’s RNS that the board are more or less resigned to raising more cash, in the near future, at sub 1p. I’m therefore pretty convinced they will go down. Your point regarding a big player looking to scoop up the brand is a valid one, and if that happens whilst I’m out I will miss the boat.
I did sell yesterday, and do intend to buy back at a lower price if one becomes available. Don’t see the reason for your confusion? And if you look at the timings of my posts yesterday, I decided to hold and forget PRIOR to the second RNS, which prompted my sale.
Porkies? Grow up.
Hi, I invested my better half’s SIPP for her, and she was keen to avoid “sin” stocks, so I ended up choosing Baillie Gifford Positive Change. I’m reasonably happy with the performance there, so another one to consider.
RobDog.... you say below
“ This is heading south at the moment, so why don't you sell all your holding then re-visit in say 6 months. If it's dropped to 0.5p you can then buy nearly twice as many shares for the same money you have invested at the moment. That's got to be better than sitting on the shares and worrying ”
This is exactly my plan.
Sea tank... I find the quieter the board, the more successful the share on here! It’s probably not too bad an investment strategy to seek out the boards on here with less noise, and make a portfolio of them!
Not only that, but surely today’s RNS will now lead to loads selling at a faction over 1p to get back in sub that? Why not (unless the new raise is limited to existing holders). Even then, you’ll probably be able to in at close to the new issue price shortly thereafter.
Bad to worse. Why not at least TRY to have raised enough working capital at the higher price last week? I’d have been interested in a 1p rights issue, as I’m sure many other holders would to avoid dilution. It’s almost as if they completely ran out of cash unexpectedly and needed it instantly to keep going. No wonder the CFO has gone.
Thanks TopLocks..... despite my ire I won’t be selling at these levels, but equally won’t be adding. It’s a put away and forget for me, with fingers crossed for the outcome you’re outlining as a possibility. Fortunate enough to have only a small stake here, so worst case scenario not too much damage done. I also feel there’s an outside chance of a bigger player picking up the brand and it’s reputational value here at a premium to current SP.