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Totally agree Forthwin. If the Bod had any confidence in SEED they would buy in at this low price. The fact they are not speaks volumes. Ed's BS aout privileged information on leap was valid a year ago when he mentioned a sale/IPO but not now. He's not trying to IPO a unicorn ffs. The sad fact is maybe nobody wants Leap. And it appears the market would appear to be thinking the same.
For those not able to attend can someone give us the highlights. By the looks of it not much good news?
someone offloaded over 1M shares
Dont get me wrong. I'm not overly concerned, I've been here for 18months and for that you need patience but the asset is now worth more than it was even a year ago and there is the potential for bigger envious eyes to be taking a hard look. Also were SL to undertake any shenanigans with regard to CM it would have a chilling effect on future investment in the country.
Reefles - Why would we NOT need new investors? If we dont entice new investors to buy shares how on earth are we going to get this share price out of the doldrums. As it is, it would appear current investors are heading for the door and thats despite all the positive news already landed and the potential to come.
What did he say about the MCap. Cant find any mention from him
Surely with Leap's current value, it would just be loose change to the likes of IMG/Endeavor. If they really wanted Leap they would have made an offer by now. The fact they own 25% may be putting others off making an offer.
Whether we like it or not our short to medium term aspirations lie in our Leap holding, everything else is small fry for now at least. I havent yet given up on Ed to make something of it. It certainly has potential. My bet is that it will be bought out by a bigger brand/gamer rather than an IPO as IPO's are a costly exercise especially as it is a rather niche product. But whatever is planned he needs to pull his finger out.
Not sure why people are getting peed off at the update. FFWD relies on any announcement of the comps they invest in and the stated NAV will be based on their latest updates prior to Sept 30th. What the update is missing and should have been included is what they did with the £2m also why the company is burning though its cash.
I'm struggling to see how we get to a NAV of even 14p without at least Leap being valued at 3 times it was in March. At 7% of our portfolio Portage would need a huge uplift to affect the NAV much. So in the short term I cant see a NAV above 11p. Happy to be proved wrong.
All shares are a big gamble. Who knew 6 months ago the world would be hit with a pandemic. As for this share, it will depend on when they can start sailing again but when they do, there will likely be lots of people who want to get over it by having a cruise. My parents are itching to go and have one provisionally booked for Feb 21.
At this rate if Corbyn gets in he'll be able to renationalise RMG with loose change.
With huge buys being undertaken, I dont get why the share price is down over 10%... unless there is an even bigger seller who is dumping their stock at any price. I guess we'll see the cross trades after close. As you say, someone is taking a position at these low levels and an RNS will probably be released in the next few days.
Someone selling up by the looks of it.
So effectively no real news. I dont understand how the previous board created such a complex accounting policy that it takes 2 accountancy firms 3 months to work out whether they made a profit or not. The fact that they created such a tangled web of deceit means they probably werent.
Getting rid of Thompson is a positive. It was under his stewardship that UTW got into this mess and came up with the 'creative' accounting. Goodbye to bad rubbish.