The May 2021 RNS stated: "Subject to prevailing market conditions and upon taking independent advice, the Company intends to use its best efforts to raise net equity proceeds of £70m to facilitate these prepayments."
To my mind, "net equity proceeds" could mean net proceeds from the sale of new shares. Not sure why else they would be taking account of "market conditions" and "independent advice".
It is ambiguous wording, open to all sorts of interpretation, but it does point to an equity raise IMHO.
cneighbour - no idea why you think I can't read charts? The bid price was in the high 50s most of the summer then it spiked to 66 toward the end of last month. Since then it's been falling back from 66. That was the false dawn I was referring to.
I've held CARD since February 2021. Got in at 49.4566 so really have no desire to see the SP go down.
It is a fact that the company said in May 2021 that there would be a 70m GBP equity raise and this is why the SP fell back from the mid/high 90s in Q2. No ramping or deremping on a share bulletin board is going to change that.
I'm holding tight for now but look forward to the update at the end of this month. I hope that they can give us all some more information on the equity raise, if one is still required.
There was a bit of a false dawn recently with the SP jumping but it seems to be heading south again.
No doubt sales figures will be good and the risk of another lockdown has to be minimal. I suspect that the risk of a RI or placing is holding this stock back. Hopefully more clarity on that aspect when the results are out.
I suspect that a political solution will be found to the supply and resource issue.
Since Brexit we are free to trade with the world. There are plenty of lorry drivers in India and we can get them over on a work visa any time we like. For anyone who has been to India, you will know that those guys can do some "creative" driving.
Not a brilliant video by Gary. He's given us nothing but bad news on top of news we all pretty much new was guaranteed. He's going to have another go at an SOA in the hope that he doesn't balls it ups this time around.
MIKESM - I presume you mean that Gary & Co are a first class management team to run Amigo V2. They may well be, but that's not the battle we're in. That has never been the battle we were fighting.
They seem to be heading in the right direction now and fingers crossed that they have retained the credibility necessary to get the FCA on their side.
As far as the management team's current status is concerned, I'd say they were best described as on-the-job trainees. They walked into a gun fight thinking it was fist fight. Well, the only ones that got fisted were the shareholders. I must thank Gary for that if I ever get to see him at an AGM.