Member Info for wordog

Exactly Peer, I wouldn't be surprised if BV Tech threw some extra resource at it to get them back on their feet. This week will be volitile, Thursday & Friday in particular, but i'm keeping my shares until they are prized from my firm grasp.

Where's your short? Not seen one disclosed for the last 2 weeks, great bullish sign! https://www.shortdata.co.uk/company.php?isin=GB00BYNF4J61

Shares won't be issued for trading until Thursday, here's some food for thought, especially when you consider no more than 38% of shares will be in free float on thursday. We have to also remember that most original shareholders will have high averages in their current holding prior to applying for open offer shares. Especially considering the previous share price being above 200p at one point. Most of them will not be in profit at this current share price. If you take an example of someone buying 10000 at 100p, they will only be eligible for 1/3 (3333) on the open offer and 29% of excess. It's likely that their average will be around the 50p mark. Is that worth flipping for a reduced loss? Or holding for 50-80 on buy out or operational turnaround?

Shares won't be issued for trading until Thursday, here's some food for thought, especially when you consider no more than 38% of shares will be in free float on thursday. We have to also remember that most original shareholders will have high averages in their current holding prior to applying for open offer shares. Especially considering the previous share price being above 200p at one point. Most of them will not be in profit at this current share price. If you take an example of someone buying 10000 at 100p, they will only be eligible for 1/3 (3333) on the open offer and 29% of excess. It's likely that their average will be around the 50p mark. Is that worth flipping for a reduced loss? Or holding for 50-80 on buy out or operational turnaround?

Some chunky buys going through now

There are no shorts open last time I checked. Anyone seen any?

A lot of stick changing hands this morning

It’s an inevitability now really. Nobody is taking my shares.

So having never known a waiver to occur with other companies does this mean that as they buy up more shares it will push the price upwards? Therefore if you hold out for as long as possible you will eventually get the best price. Or would it make more sense for them to buy up as many as possible then make a general offer?

I make it that no more than 38% of shares will be in free float from Thursday, does that sound about right? Still not a lot really.

A vote by independent investors agreed to raise £1.2mil gross in an open offer and BVTech now own a controlling stake in Defenx. If they want to buy more shares they can without having to make an offer for the whole company. The placing itself was over subscribed by 240% so original shareholders will only get 29% of the excess shares, apparently. What this means is that BV Tech control the company now and have a vested interest in turning it around. Defenx has a strong product line but took on too much too quickly, BV Tech have the resource and experience to sort it out.

Now ask yourself this question, given the open offer which included directors, why didn’t they take some given the recent rise? I know I would have. Are they privy to takeover plans?

Most likely yes, lol.

They didn't show as allocated but applied for, along with the entitled application. I rang them and asked over the phone if i would get the full excess applied for and they said yes, as long as the corporate action goes through. IDK either, will see in the morning but i'm expecting 29%. I'all also stop kicking myself for not asking for more! Tomorrow will be interesting, i'm expecting a short drop then a decent recovery into the weekend GLA.

RNS Key Points. Barclays told me i got all my excess, this says i should only have 29% of the excess, i'll see in the morning, fingers crossed. STRONG chance of takeover now. "We are pleased to have today finalised the Fundraising, which we believe was the best opportunity available to the Company to allow it to continue trading and start to implement its new Defenx 2020 strategy. We would like to thank our shareholders for their support in the Open Offer and we look to the future of Defenx with confidence." As a result, 1,681,634 Open Offer Shares were available under the Excess Application Facility and valid acceptances were received in respect of 5,710,211 Excess Open Offer Entitlements, representing excess applications of approximately 240 per cent. above those available under the Excess Application Facility. Accordingly, each Qualifying Shareholder applying for Excess Open Offer Entitlements will be scaled back and will receive approximately 29.4 per cent. of their excess application pursuant to the Excess Application Facility. BV Tech subscribed for 10,564,676 Subscription Shares and has been allotted 1,212,212 Open Offer Shares. Accordingly, following Admission, BV Tech will be interested in 15,413,526 Ordinary Shares, representing approximately 54.74 per cent. of the Company's Enlarged Share Capital. On Admission, as the Ordinary Shares in which BV Tech will be interested together carry more than 50 per cent. of the voting rights in the Company, it will therefore be free to increase its aggregate holding of Ordinary Shares without any obligation to make a general offer for the Company under the provisions of Rule 9 of the City Code.

Thought i'd be very pessimistic, that way i can't be disappointed.!

How did that short work out for you? Not well by the look of it. https://www.shortdata.co.uk/company.php?isin=GB00BYNF4J61

37p on close this week.

Very tight (3.45%) which is the tightest for months, something's about to give?

Been contemplating this weekend, it�s tough to call how far this will go, but for sure I�ll leave some of these looking at a takeover in the next 1-2 years.