Member Info for win4call

Pain in the future.

Looks like we’ll be getting nothing like the 1.75 million from our friends at YA/Riverfort for the 14 million shares they’ve had.

Trouble is , we need that money to repay the loan instalments starting shortly.

Of course, PF has a nice little fallback in that instead of paying each instalment he can choose to issue a CULN and so drop yet more shares. For the sake of beleaguered holders it would be preferable not to do this, but when has he ever given a flying fig for shareholders?

I guess the AGM this year might be postponed because of Covid also.

Maybe no more RNSs until this covid stuff is sorted.

Thinking I’ll just switch off and come back in a few weeks time. This could quite literally end up anywhere.

Not a time to buy anything at the moment unless really brave. Also though seems to be a stupid time to sell unless you expect to be able to buy in lower.

Stay safe.

On the plus side we’d be fooked now if they hadn’t got this financing when they did. Imagine having 2.3 million to pay by June and a SP sitting significantly below nominal , therefore no placing opportunity.

The deal might be shlt but it’s done the job for now.

yrabs- I must admit I cant really see YA / River selling at this level but the financing was so complicated that it wouldn’t be a surprise.

The ‘investors’ have to pay for the 14 million shares each month on a calculated price. At the moment that price would still be higher than where we sit now.

They can sell at any time - with restrictions - and it would be safe to assume they’d want to sell at a price higher than they’ve had to pay.

If they were selling now , that would be bad because it would mean they need to be getting the price down further and by quite a bit in order that the next payment calculation comes out cheaper than what they have sold for.

Like I say, whole financing was complex so it’ll be tricky to see what’s going on other than when they have to RNS any drop in holdings over a threshold limit.

Good luck Foxy , hope all goes well.

DHC - opportunities may abound but as with other times, getting timing right is key.

Be wary of those spouting how it’s a great time to get in - plenty have done it on here in the recent past at prices way above where we sit now.

Looks like total capitulation out there now.

It’s beginning to look as if F up Fowler will do anything in his power to hinder and wilfully undermine the SP.

Maybe they’ll move this years AGM to Ghana to coincide with the signing of .....

Actually, maybe not.

To tell him it’s safe for his pen to come out of quarantine ?

If he can remember where he put it all those years ago !

It would also call in to question all the other intimations and indications around signing bring imminent, soon, February etc.

Jimzi - one query. I thought reportable level was 3% not 5% ?

Because PF emphasises the upside but that is only a theoretical upside.

It depends on him delivering - enough said - and YA / Riverfort not being sharks - enough said.

I think yesterday’s volume was a result of the Doc Holiday crew pump, and they’ll have undoubtably sold out now.

I think YA / Riverfort may wait for Tema announcement to offload the first tranche although having the price down at 8p will have helped reduce last months instalment.

To confirm -

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.

To be honest, it’s usually the case that they’d look to offload asap at whatever profitable price. They’re not in it as Investors.

Not necessarily, they can sell anytime in the 12 months, extendable to 24 months.

They have to pay in 12 monthly instalments so I think it’s been assumed they would sell one twelfth each month to pay.

Given the calculation, the lower the SP the less they have to pay each mont but clearly will look to recoup that by selling at a higher price.

We should ‘in theory’ get a notification when they’ve sold approx 10% as that would take them below a notifiable holding threshold.

So a few well known posters have tried to convince the herd that this is the next NCYT 10 bagger and people have taken the bait. They’ll tell you they’re in for 20k but won’t tell you the they’re out for 25. Always the same on twitter- same few individuals posting in short bursts on a single stock to flood people’s timeline and trigger some FOMO.

Looks like a bit of co-ordinated tag team twitter with DH, smudgedan and Burton brought the herd. Let’s see if they cut and run just as quick.

He went to YA / RiverFort to get a convoluted placing away to give the impression that this was a good way of financing the CULN repayment. The fact is , it was 6 months since the last placing (which went down like a lead balloon) and recent history shows us PF looks to screw over shareholders every 6 months.