Member Info for win4call

Good luck with whatever you decide.

I’m fortunate in that I only bought in to AA post Covid in March as a recovery play, did a couple of profitable T20 trades and had an average of 26.

I’ve sold now rather than wait a couple of months for a penny more. I don’t see an increased offer - remember a couple of PE suitors dropped out early on. There’s a risk that it could be voted down, in which case most see the SP tanking before any potential refinancing. If that were to happen then I may consider coming back in at the right time.

I sympathise with those now facing a loss, especially those who’ve bought them through their AA share save scheme. It’s all too common that staff are actively encouraged to invest in the company they work for and then lose out due to mismanagement, sadly.

What’s with the weird uncrossing trade - £106 at 6.48p ?

Don’t worry, for every ‘goal’ there are mitigating circumstances.

If this gets approved, then yes. Either sell beforehand but you won’t just be able to hold on to them. The PE company will acquire 100% of share capital.

Effectively yes, we will receive 35p per share. The PE company will acquire 100% of the issued share capital and , as in the name, the holding will become Private and therefore no longer listed, quoted or traded on the exchange.

The shares will still be in existence, just all in the hands of the private equity company.

Closet - you missed the preceding bit off your post about conversion.

‘The Company can if it wishes, elect to convert any of its monthly payments or amounts due by issuing the Investor with a convertible note giving conversion rights equal to the amount concerned, in which case the Investor will have 12 months to convert the note into ordinary shares of the Company at the lower of 14.54p or the 90% 5 day volume weighted average price immediately preceding the date of such notice.’

YA / Rivers would only have a note to convert at their 14.54p or 90% VWAP if the company have converted any of the monthly loan payments to a convertible note.

I am assuming that they haven’t done this and that they would have to RNS that if they did but I may be wrong. It would be interesting to know if we’ve been paying the instalments each month. God forbid that we’ve been handing over convertible notes instead, given they already had 14 million share to get rid of. That really would be death spiral financing and quite shocking.

The current YA/Rivers selling is nothing to do with CLNs. Some people keep using that term in relation to them but they were given 14 million shares at the beginning of the year on payment terms that are SP based. Different thing to CLNs.

The ones you mention that are due for repayment in June next year are something else. Like you say, why would anyone convert and sell now below the 10p price. Some small numbers have been done in the last few months and I can only assume that they need the cash. Plus , they’ve been in existence for quite a while so the holders will have done well out of the annual payment and the payments they’ll have received to agree to keep rolling them over.

Bought yesterday just after 12, sold today just after.

230 pounds for the weekend for someone.

Looks like the traders are back in town.

Jimzi - good to see you back on here for now.

The assumption is that YA/Rivers will have sold their 14 million in the next couple of months, assuming they still have some to sell and are actually selling. The holdings RNS’s are the only concrete information we can go off, the rest is opaque given the open ended wording of the financing agreement RNS earlier in the year.

What we also know is that the amounts received each month won’t meet the repayments of the loan drawdown. We don’t know how that’s being filled but seen as they didn’t use the loan proceeds - 1.5 million - to pay off the CULN holders then they could easily be using that. It seems a bit perverse to borrow money AND issue shares and then have to use the borrowed money to repay the actual loan but we know the BoD are as good at financing as they are at running ferries.

It all depends if they actually go. We drew down half of the 3million mezzanine loan facility and then issued 14 million shares to YA/Rivers which they pay for in SP based instalments. We should be using those instalments to repay the 1.5 million drawn down.

Questions being, once YA / Rivers have paid all the instalments for their 14 million shares , and assuming that they have sold them all , will PF be tempted to do the same again, take the other half of the mezzanine and issue another tranche of shares using the same structure. The number of shares and pricing calculation would be different but gets more cash in - at the expense of shares in issue and shareholders as per normal.

All depends on how much cash there is. The loan was meant to repay the outstanding CULN holders which has been put back to June. The instalments from YA / Rivers aren’t sufficient to repay the mezzanine instalments. Is the business making enough or does it need another cash injection ? Can’t do a placing with SP sub nominal so it may be that the mezzanine drawdown has to be done again.

No wonder we sit at 6p.

I think finally Pete is a busted flush and there is very little ammo he has to make any impact. Double digit growth, enquiries here, busy there means absolutely nothing. Unless he can come up with something truly transformative then any update will be met with the normal indifference.

PF unable to give people reasons to buy at the moment. Any marketing / PR type info being seen is about the services WSG can provide and not enough actual delivery. Hopefully calm before some storm otherwise this stagnation will go on and on. A long time since this was above nominal.

Lol - touched a nerve.

“Is the tr1 filed by company or the investor ?”

Well we know someone here who has played fast and loose with TR1 and holdings reporting on previous stocks.

For once we can be grateful not to be seen as a Covid stock given the way they all tanked today.

Plenty of risers on a euphoric market today - again, not WSG though.

Quite possibly - maybe did some the day before as well.

We know there are certain restrictions but as usual, no visibility and it’s just assumed that there is a limit to how many they can sell each month. PF liked to give the impression that the company could control or mitigate the damage a YA / River agreement could result in, and even talked about sharing in the upside. In reality our insto friends have largely controlled the SP for the last 6 months.

Jjj - this nightmare might nearly be over but Fooler has form for financing that shafts shareholders.

Come 2021 there will have been a shortfall in the loan repayments that is hopefully being met from revenue, but then the CULNs to repay in June.

Don’t bet on PF not going with another Wonga style agreement as soon as this one is cleared.

Jjj - this nightmare might nearly be over but Fooler has form for financing that shafts shareholders.

Come 2021 there will have been a shortfall in the loan repayments that is hopefully being met from revenue, but then the CULNs to repay in June.

Don’t bet on PF not going with another Wonga style agreement as soon as this one is cleared.

O1G - the RNS stated :

The Investor will have the right to sell the Subscription Shares, subject to certain volume restrictions, over a 12-month period, extendable to 24 months at the Investor's discretion.

The assumption is that volume restrictions limit on a monthly basis how many they can sell but we don’t know the details. All we know is how many they HAD sold at the time of the last holdings RNS. Hopefully they plan to get out as quickly as possible, following the limits.

I don’t know if we’d get an RNS confirming they are fully out ?

The CLNs have been pushed back to next year. There was an RNS earlier in the year.