Member Info for twirl

The Directors will lose money as will others in that scenario. However Directors of some companies have been known to engineer takeovers at low value to take the company private and benefit from its future success. I doubt that is the case here but using a Directors stake as a justification for holding or buying a share is not always foolproof. Alternative scenario is that the completion of testing is imminent and its announcement will increase the sp enabling better financing terms and ditching Bracknor. However that needs to be before end March when the Metric refund is due otherwise the £11m due will have to come from Bracknor.

I am sure that the technology will be developed successfully but not necessarily by AVO. The longer the development takes then the more cash required and the more likely that the sp will drop as Bracknor is issued shares which are sold in the market. The lower the sp the more likely it will be taken over by a competitor at a low price.

There is unfortunately more evidence for the alternative point of view than your belief ie reason given by Sinophi for pulling out; Harley St without planning s106

Kenj>. Bracknor have a track record of pre selling shares issued which apart from driving down sp neans that they can sell to hold less than 29% or very much less than that and allow all those shares to be issued and owned by others. See the VAL thread

nothing - in fact thats what they did at VAL

So have had to resort to desperate finance as they are currently skint and unable to obtain loan finance due to no revenues and innability to convince lenders that testing will be completed anytime soon. Harley St has not even signed the s106 yet so no start on site. The hope is that they will sort out the snags in the delayed testing and find buyers for LIGHT to avoid drawing down too much of the Brackner money. The concern is they won't.

Can buy 25k at IG online at 67.4p and sell 10k at 64.1p.

Harley St.>> I posted an e mail I had received earlier this week that said the s106 agreement had not been signed and although I wrote to De walden seeking confirmation that the swaps were sorted and works had started I have not yet received a reply. If anyone is going to the presentation tonight you may wsh to seek clarification although I expect most interest will relatre to the testing timetable and financing. Until then I assume building works have not sterted. Could a Londener nip round and have a look?

I enquired of Westminster Planners whether the resi usage swap, which was a condition of the planning approval had been submitted by DeWalden and approved by the Council. Here is the reply I have been passed your email as I am the case officer for these proposals. "Part of the residential use swap has already been agreed at 126 Harley Street, as set out in the Committee report, which can be viewed the following link (item 3): http://committees.westminster.gov.uk/ieListDocuments.aspx?CId=167&MId=4072 I can confirm that the S106 legal agreement requirement to formally provide details for the rest of the use swap has not yet been discharged. I suggest that you contact the planning agent direct if you want to find out when they intend to do this - Andrea Merrington, Howard de Walden Estate, Andrea.Merrington@hdwe.co.uk" As the reply is less than clear I have emailed Andrea.

I enquired of Westminster Planners whether the resi usage swap, which was a condition of the planning approval had been submitted by DeWalden and approved by the Council. Here is the reply I have been passed your email as I am the case officer for these proposals. "Part of the residential use swap has already been agreed at 126 Harley Street, as set out in the Committee report, which can be viewed the following link (item 3): http://committees.westminster.gov.uk/ieListDocuments.aspx?CId=167&MId=4072 I can confirm that the S106 legal agreement requirement to formally provide details for the rest of the use swap has not yet been discharged. I suggest that you contact the planning agent direct if you want to find out when they intend to do this - Andrea Merrington, Howard de Walden Estate, Andrea.Merrington@hdwe.co.uk" As the reply is less than clear I have emailed Andrea.

Phil7390>> Whilst no fan of TW there are several issues that cause me concern 1 The financing plan has not been announced 2 Coupled with 1 any delay will increase cash burn. We have already debated delay and I am of the view that testing is delayed. 3 1 and 2 point to dilution or hard ball debt 4 The timing of the placing relative to the "cancellation" of orders appears to me to be at best poor govrnance Lets hope AVO have something positive to say soon - until then I remain cautious.

IG dummy trades indicate demand exceeds supply as can sell 50k but buy only 10 shares online at quoted prices. To buy more need to pay 199p.

Around 80% take up by shareholders is much higher than I expected.

The positive news was that the co had made significant realised and unrealised gains as in the year end results. The second positive news is that they will not be giving it away as a divi. If no one wants to sell at 3.6p then the co just has more cash with the same no of shares. The net asset ratio therefore looks better but future eps ratio will not be as good - all things being equal.

There are very few shares in free float so small volume cause large sp change. Not unusual for sp to fall after results - to around 130p. There were then a few 100k sold by institutions which sent us down further and the rest seems to be relatively low vol persistent selling presumably from worried investors or those on margin. I would say thats the most likely explanation why we have fell to this level. Alternatives could be that there is some nasty secret known to a few or there is a placing in the offing to buy another company.

Reg Hankey says yes

Selftrade has a limit of 38 shares to buy and 15k to sell.