The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
I wonder, if there is going to be anything left for us after the creditors are paid.
Has anybody asked Eve this question?
Not nice to see the SP back down to this level again. Looks like the warrants and spud uncertainty are holding it back.
We need confirmation of the spud date asap, any delay will have a negative impact and may even drop the SP below support at 1.5/1.6p. I hope we get an RNS by Monday. Fingers crossed.
I’ll add one more thing.
These losses can go forward indefinitely and be offset against gains from other shares.
Personally, I don’t like Paul Forrest selling like that, 3rd one now in as many weeks … is not what competent COMPANY DIRECTORS do. Third sale now at very low SP and is also filed way too late.
He needs to reign these sales in as they do have a big impact on sentiment.He needs to act like a director.
DGU/Jack, we have been stitched up here, obviously when you look at RNSs and webinars, but I don’t believe there is anything we can do down the legal route.
I saw another stock stock on AIM that has gone through a similar situation that crashed the SP (not admin though) where an attempt was made to take them to court by a group of around 20m people, but nothing came of it.
If it was in the US it will be a different story, take a look at Argo Blockchain which also trades in the US. They tire under class action lawsuit now, look at the RNSs.
Geeman, I agree with your assessment on Bensons buying Eve, but the whole process of how we got to admin stinks.
Jackbal makes a couple of points in the post below that are encouraging shareholders to hold.. If that was in the US there would be a class action lawsuit over this.
Add the below encouraging tweets made just a week ago on 11 October. How can it go from that to admin a week later? Hard to justify.
https://twitter.com/eve_sleep/status/1579856610096484353?s=46&t=hKlZqzWTYfXIvbpitr8fOg
https://twitter.com/eve_sleep/status/1579859789542146048?s=46&t=hKlZqzWTYfXIvbpitr8fOg
And, if last JUne they “eve has now essentially completed the three year rebuild strategy, aimed at positioning the business for sustained growth across all of its geographic and product markets” (copied from Jack’s post below), why on earth didn’t they call an EGM, get permission to issue shares and place to get a few more £million to get to the finish line?
Geeman, … mate,
Probably true, Bensons got the info during the FSP, but the speed with which Bensons moved does leave a bit of a sour taste?
btw, we been here long enough to kind of “know” each other? You could use my name when you are addressing me - I will not be offended.
Wildstag, you make a valid point - when did Benson get all the info from to enable them to move that fast? It stinks.
There maybe a case there to contact the FCA. Getting solicitors in, personally I don’t think is an option - we are at the bottom of the feeding chain and solicitors are expensive. There is probably not enough money left in the kiddy to pay creditors, pay the administrators and then pay the solicitors and have enough left for us.
Our only hope is getting some cash from what Benson paid but what do I know?.
Stxx, that is a very good point. We should contact the administrators too.
In view of the Benson purchase, we need to find out if there is going to be anything for us shareholders.
DGU, you still have a line to them? Is worth asking the question.
Jackbal, with only 278 million shares in circulation even a 200% dilution would have been better for us.
They could have shutdown France, streamline operations raise cash through dilution (worse case, but still better for everybody), cut back on staffing, cut back to core most profitable products, navigate through this current turbulence and when you get to the other side try and expand again - wasn’t this a possible scenario?
The way the whole situation developed from choosing to be loss making but will be profitable by 2022 … to breakeven by 2022 but only for UK&I with France 3 or 4 years behind … to BOOM FSP.
More or less silence through the FSP, no details given through the FSP process … then boom again … Admin & suspension. Then within hours Benson buys Eve out of Admin.
It leaves a sour taste in the mouth.
I wonder, if after the Benson buyout if there is nothing in it for us shareholders, is there a case for contacting the FCA over this?
Is it possible to find out what Benson’s paid for Eve?
There could be some money left over for shareholders.
Surely when Eve called the administrators a in yesterday they would still have had enough cash left to pay all their creditors (and administrators?) - they made this a priority.
So any money paid by Benson’s should mostly come to shareholders. No?
Benson’s involvement should have been RNS’ed before yesterday. I wonder, are CC & TP will be now working for Benson’s?
DGU,. Just seen your post on Bensom buying Eve - before it was even a day old in admin - this does indeed sound fishy.
Does anybody have an explanation?
Surely, id shareholder’s interest would have been better doing a deal with Benson before admin?
DGU, one of my rules from now on will be not to listen to another CEO interview or webcasts - simply go by what they RNS and price action.
Another one is - when a question of Admin appears, bail out, cut losses.
Good luck all in your new adventures on AIM.
It is indeed disgraceful. Huge loss for me. CC really screwed Eve up. Inexcusable, utter incompetence.
I could have saved about 5% of my investment and chose not to, my decision. I thought the two people buying and filing 8.3’s May have known something but as it turned out they were as blind as me, they just had a bigger wallet and afford to loose more. Lesson learned.
I wish everybody on this board good luck with future investments and hope that we all learned from this.
Ocelot, I agree. Aleph has no intention of selling - you do not exercise £1.4 mil, 127.4 mil shares, on a stock that trades on average 20 mil per day, with the SP at 1.8p and an exercise price of 1.10p with the intention of selling. IMO this was done to support Angus, they know what’s coming. When the website gets update I expect to see all shares held.
Angus is in excellent shape now, I wish I had some more cash to add this level.