You can't even get that right, CF did not exercise any warrants, it clearly states who did..
Do you remember when certain posters were trying to say it was someone in HVO Management...Sounds like the guy has more problems than just this sentencing, Prostate and Bowel Cancer and mental health....Still insider trading is illegal.
Sianna, The Company owe £1.5m, for thee lenders to get anything back they need to keep the Company alive, looks like Geoffrey dart is going to take shares at the value of 7.7% of his loan (so 7.7p for every £ owed), the other lender has pared back their outstanding amount.
It looks like they had to borrow another £40k to just get the AGM and Audited Accounts done, but must keep this alive until they can issue more shares and raise money, then they will try and get out at the best price, but in the meantime the shareholders will get nothing.
If this then goes into liquidation the creditors come before shareholders and the lender will be first in the queue for anything left in the bank account.
Sianna, they aren't going to tell you the price until they have your votes to allow it, so after the AGM. Even then the price depends on who wants to buy shares in DKE, if there isn't anything in the pipeline, which according to the update there isn't then it will be a distressed fundraise and could be a placing or more likely a CLN death spiral loan, either way it will be at a much lower equivalent price than now (10-1 consolidation will happen in between).
Why is the header 'Playing around with share price'?
Sianna, you seem to want to always put a gloss on what is just a normal situation, albeit an unpalatable one for shareholders. There is no appetite to buy DKE shares with the upcoming consolidation and clearly a future fundraise, therefore with the prospect of dilution why would MMs want to bid and buy the shares at this price?
Hope? They are asking you to authorise 900m new shares after the consolidation (so 9bn shares in today's money) to be issued at what discounted price? The dilution is going to be huge.
The BoD recommend you vote for the resolutions, just like Turkeys voting for Christmas...
If Michael really did have 10% and others really did have the amount they said on here, then there would be a chance to vote against the special resolutions (need 75% to pass) and force their hand a bit, atbthe moment they have backed you into a corner and are trying to force your vote.
After the fundraise, just watch some old usernames pop up ramping the hell out of this, where they have bought back in at a fraction of current price, having persuaded some of you to buy more shares after suspension was lifted and they were selling you the shares at 3x current price...Hard lesson learnt, but always listen to both sides when investing, some are trying to help, others to fleece you and it might not be easy to see who is who...
There's no RNS because they told you by RNS last week when they were sending out the circular, it was posted on the DKE website a day late, yesterday, for investors that have been posting for 15 months+ and seem to be the only ones left here, you don't seem to want to find the news? Let alone discuss the facts in that document....
http://www.dukemountcapitalplc.com/documents/GM%20Circular%20CLEAN%2013%20Dec%2023.pdf
Mark,
How much have you lost so far backing this zombie? If you don't do something soon, it will be even more down the drain...'You just don't get it'
Did anyone else note they have changed the Auditor again!
Resolution 3 - Appointment of Auditor.
What did the last lot who went back through the last 10 years do wrong?
Was the clue in this bit in the September RNS,
"by exploring further funding into the Company alongside the appointed broker to enable the 2023 accounts to contain an auditor going concern statement that is not qualified"
Sianna,
Pretty obvious from the first trades that no-one can in size and then they dropped the bid.
The first bit of credible news and facts from the Company for over a year, setting out their future plans and this BB is silent?
The Joke is that was just one person trying to get £500 out and obviously paying £5.95 commission, it took 4 trades to see £500's worth sold, MMs will be ruthless now.
This bit made me laugh, the Directors recommend shareholders vote in favour and then the next sentence states this,
"The Directors intend to vote in favour of the Resolutions in respect of their own beneficial holdings of Existing Ordinary Shares (amounting to 8,666,666 Ordinary Shares, representing approximately 0.01% of the issued share capital of the Company as at 13 December 2023)."
Many of you individually own far more than this figure and now you can see how they will not be affected by any dilution on a fundraise, are not aligned with shareholders and will probably load up with options/warrants at any discounted fundraise price.
There is no risk for them...
I showed you where to find it last night, if you have a look you will see why the SP has fallen.
Well here it is, please note the 1-10 reorganisation, the amount of shares that will be issued to GD, which will dilute existing holders, but massively important look at what they are asking you as shareholders to authorise, 900m shares to be authorised and then the next resolution states you as shareholders will waive your right to be offered shares first in any fundraise. If this is not a typo and as it appears more than once I don't believe it is, after all resolutions are voted on the Company will have 69.3m shares in issue but you will have voted to allow Directors to allot another 900m, which would dilute you as shareholders to about 7% of what you currently own. Please Caveat Emptor!!
http://www.dukemountcapitalplc.com/documents/GM%20Circular%20CLEAN%2013%20Dec%2023.pdf
I thought they said the AGM circular would be posted today?
Be quite interesting as they haven't got a lot of time to get a fundraise through before the end of January...
Just written an essay and then lost it before it posted....
The AGM is about several extreme things for fire fighting.
1. There is no RTO in the pipeline and that figures as the negative net assets make it an awful SPAC.
2. The lender has realised it is best to lose some of their loan than all of it and agreed to not charge any more interest on the pared back loan, a pretty desperate measure.
3. Chesterfield are going to get their loan repaid in shares at 0.65p, just for clarity this means they will be issued 76,923,076 shares and at the current share price some 7.7% of the original value. They loaned £500k and will get back £38.5k of stock (at current price), really desperate and wouldn't happen unless there was a Director involved (Geoffrey Dart).
4. The Company were unable to issue more shares as they had reached their max headroom, so they needed an AGM to get authorisation to allot more shares to raise finance. The fact there hasn't been an AGM for so long speaks volumes.
5. The share has a nominal value of 0.1p, so with the current SP at half of that the Company are unable to do a fundraise. they would have to issue shares at 0.1p and no-one would be willing to pay that at this time.
6. To counter this they will do a share reconstruction, they will do a reverse share split, eg for every 10 shares you currently own you will receive 1, the value of the company won't change so the share would be worth 10 times the current value (say 0.5p), that would then give them a chance to raise at say 0.3p and that would be above the nominal value, but of course be 0.03p in today's money.
Please, please Caveat Emptor!
You spotted it last July, I just remembered the name and when the news was on the LSE Homepage this morning, I looked back. There are some positives from these BBs, if you can find the research and ideas in the middle of the noise.
We cannot be certain, but having looked at them back when you mentioned them and again today, they are a very good fit and there aren't many out there doing trials for hMPV, let alone stating on two different reports/news items the further phase 2 trial would be a Human Challenge trial.
Reason I was thinking about business links going forward, the new facilities are being mainly funded by a client(s), this is a little different to the boutique hotel, which was paid for by a client to jump the queue. The facilities are far more expensive at Canary Wharf, so are we looking at a large Pharma who will be putting a pipeline of studies through over a longer period of time and this investment gives them an advantage when it comes to timings, etc?