We would love to hear your thoughts about our site and services, please take our survey here.
Good luck to holders tomorrow.
I think the best anyone can hope for is likely to be a ‘steady as it goes’ update, albeit that they’ll almost certainly have to concede that 2022 revenues are unlikely to be met. The updates on DRC etc will be interesting as to whether there is any positive movement. Even if it’s been canned, he’s never going to say as much - every MoU is still live remember, even those that have been ongoing for a decade or more.
Unless there is something drastic around funding, I’d anticipate little movement in the SP. Clearly very few bothering to sell at this level and , without some extra sweet jam, nobody interested in buying either.
Tosca have committed their shareholding in support of this bid and it is binding. If you read the full document , including Appendix 3, this sets out who has backed the offer and the very limited circumstances in which they can withdraw that support.
I wouldn’t hold up hope on Tosca coming to the rescue.
Having read through the full announcement in a bit more detail, I don’t see there being a bidding war.
Bidco have received binding commitment for over 50% which can only be broken on quite stringent circumstances. This includes shareholdings of Toscafund and Ray Kelvin, therefore they are committed at this level.
On that basis, I have decided to sell and take my small profit knowing that I’m one of the lucky ones not to have been in higher.
I wonder if there’s any chance of other contenders coming in and an increased offer.
If not, I don’t see the point in hanging around for the extra 1p and would probably sell now.
This is a bit like the AA buyout a couple of years ago. Shareholders hoping for a better price but ended up going through at disappointing level. Feel sorry for longer term holders with high averages, I only bought in a couple of months ago in mid 90’s but was hoping for £1.30 minimum or trade through for a while with a better recovery.
I imagine Fooler would want the pesky traders here to try and drum up some activity. Get some newbies looking in who don’t know the history then sucker them in to the dreaded P word.
Still, good to see that they can scrape together enough pennies to RNS something , must’ve found a few coins down the back of the chesterfield sofas.
Given they’ve gone through the 8%, 7%, 6% and finally 5% thresholds before reporting, what has triggered them to RNS at this stage ? Assume the could have carried on to sub 4% level without declaring if they so wished. Have they paused for now ?
Two months now since the preferred counterparty pulled out , so you’d hope that we’d be getting some form of clarification soon. Feels like we’re overdue an update now.
They reported yesterday the threshold they’d crossed on Tuesday. Likely they offloaded significantly yesterday as well as todays. Agree though that with 46mill as of Tuesday they won’t be fully out yet.
So Fooler thinks there is ‘nonsense’ posted on the bulletin boards. He should reread some of the RNS’s he has put out and watch some of the media video interviews he’s done - stacked full of nonsense he’s been feeding to shareholders for years. The guys delusional if he thinks he’s anything other than a con artist and a failure.
As per the latest RNS, given they are not proposing to address the situation regarding the temporary Chair structure and since this was originally kept set this way to provide continuity in the sale process , I would deduce that this is still ongoing and the intention is still to seek a sale at the present time.