Fastnet Equity Share Discussion Threads

[risk1] 23/2/2016 13:04

Hi pap

I am basing my prediction on the amount of cash that is being raised an additional
20 million pounds and adding to the 10 million that fastnet currently hold
I am then including a premium for the EU approved drug plus the son and birkin acquisitions and the stong management team

Would be surprised if it opens at anywhere near 3p with 30 million plus assets and goodwill

[badday] 23/2/2016 12:57

The funding raising looking to be 10% -20% above price at suspension
It's not going to re-list at a multiple.
The value will come through further deals and milestones.

[sea7] 23/2/2016 12:53

Fastnet equity must issue enough shares to amryt for it to take control of fastnet equity.

Amryt was incorporated on 17th august 2015, put together by raglan capital and has Cathal friel, rory nealson and Joeseph wiley as directors. its principal activity is described as Research and Experimental Development on Social Sciences and Humanities.

The new entity will be chaired by stratford, the ceo will be joseph wiley and rory nealson will be cfo.

Cathal will do well out of this. Especially as he will be issuing shares to himself as a director of amryt, as part of the RTO process.

Once the rto is completed and the fundraise via share issuance is completed they will have cash to purchase and move forward the target companies.

The admission document will detail timelines, however I would think, a post opening relist price of around 8-10p would not be unreasonable if they raise £20m as rumoured. However, thats a cash based share price guess, based on the rumour and nothing else. We won't get details until the prospectus is published.

[papillon] 23/2/2016 12:48

I think that is just be wishful thinking on your part, risk1.

On what evidence do you base your assertion that it could relist in double figures? I can't see any evidence to support that kind of price.

Is that the price at which the MM's open at or is it the closing price on the day it re-lists.

You can't make any prediction, or guess, on the re-listing price until you see the admissions document.

[risk1] 23/2/2016 12:03

Bad luck Sea7 i think this could relist in double figures

What is your take?

[sea7] 23/2/2016 11:22

Risk1,

Having profitably traded this a few times and then booking a decent gain at 2.7p from the low two's, I was waiting for a better retracement below 2.5p again which didn't quite get there, so unfortunately I did not reopen a position before the announcement and subsequent suspension came.


I knew it would happen at some point, however, I took the chance on booking a profit again and getting another roll of the dice, so to speak. I got caught out this time. C'est la vie!!

[risk1] 22/2/2016 23:04

Just hnr took 7 months hope it is 3-4

[papillon] 22/2/2016 22:43

"The prospectus will likely take 6 months to publish so I would guess at late August"

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

The last company I had shares in that was subject to an RTO took 4 months to re-list so eburne1960's comment that a re-list could happen in May seems plausible if the talks are at an advanced stage.

[eburne1960] 22/2/2016 22:03

Yes. Very.

[risk1] 22/2/2016 21:53

Is it a positive write up?

Tia

[badday] 22/2/2016 21:51

I think it's fair to say that if you want to know what's going on, you could subscribe to michaelwalters.com
He has a fairly extensive piece on the deal / deals and the potential ahead.
If you don't fancy subscribing I'm sure there'll be plenty of write-ups in the next week or two

[eburne1960] 22/2/2016 21:25

A website I subscribe to (so I won't go into what else it says) is suggesting it could relist in May. Remember, the Sunday papers were talking about a roadshow starting up to raise the money, so they would hardly be doing it if nothing was going to be published for 6 months. The website is also suggesting the new shares might be priced around the 3.1p level, and that they won't be formally offered to pi's, but we might be able to participate in the placing.

[risk1] 22/2/2016 21:13

The prospectus will likely take 6 months to publish so I would guess at late August

[eburne1960] 22/2/2016 21:11

There will be an RNS prior to the prospectus being published if the discussions are successful. The statement today does say the discussions are "very advanced", which I take to mean that we may not have to wait as long as some think before we find out what's what.

[risk1] 22/2/2016 20:57

Yes I know it will be a long wait and the deal is not yet done, just wondered if we may get some more detail when deal is finalised

[papillon] 22/2/2016 20:53

"Do we get to hear the terms of the deal ahead of the admissions doc?"

It wouldn't matter, risk1, if we did hear the terms of the deal ahead of the re-admission document since the shares will not re-list until that document is issued!

However you will have to wait for that re-admission document to know what the final terms of the deal are. It could be a long wait so I should just ignore FAST/Amryt until that re-admission document is issued, or the deal is terminated.

In the meantime speculation is pointless, IMO.

[risk1] 22/2/2016 20:32

Where is old sea?

Surely he hasn't jumped ship (maybe he has with that name)

[risk1] 22/2/2016 19:44

What is the next stage

Do we get to hear the terms of the deal ahead of the admissions doc?

[papillon] 22/2/2016 13:49

I can't see the fund raising being at a price less than the current cash value per share of FAST which currently is circa 2.80p. Hopefully it wont be less than the 4p per share that CF paid last year. So 2.80p is my minimum value for the fund raising price per share.

PS. FAST's current cash balance is around £9.75m. Cash burn (admin) is forecast to be £600k per annum.

PPS Looking at the FAST chart (potentially bullish ascending triangle pattern forming) I can, hopefully, see Amryt re-listing at 4p (if the deal is not terminated).

[papillon] 22/2/2016 13:40

Well of course we wont get a "look in", eburne1960. Why would we, as FAST shareholders, be involved in the proposed Amryt fund raising? It would be highly unusual if your small shareholder were. Of course if you are a high net worth individual, eburne1960, you could ask to take part, or you could even be approached to take part, in the fund raising.

Obviously CF, as both a Director of Amryt and a high net worth individual, will take part in the fund raising if he wants to!! I to will be interested to see if CF & HS take part in the Amryt fund raising and how much they invest.

I'm waiting to see the admissions document, probably to be issued sometime in the summer, before counting my chickens!!

[eburne1960] 22/2/2016 13:06

I would think CF would be able to take part in a share issue without the rest of us getting a look in - after all, how often do you see share placings on AIM where the BOD take part and the RI can't? Nevertheless, I would be interested to see how much of their own money the BOD put into this.

[risk1] 22/2/2016 12:43

You can be as cynical as you like but CF is a significant shareholder and I can't imagine anyone will be prepared to vote through a deal that is not in their interests

[kfp] 22/2/2016 12:22

I suppose it depends on how many new shares are issued ?