7digital Share Discussion Threads

[zen12] 18/7/2019 10:49

How is that clueless, it's clear from your post you knew nothing about this under 0.2 placing coming..you should be thanking us as you now have a chance to make an informed decision!

[shirley83] 18/7/2019 10:46

So it doesn't actually say it... Thought not.. Happy to add more under 30. Went to NT quickly. No shares available since its so low

[zen12] 18/7/2019 10:45

At least let the rampers do some research lol you've done it for them..I would have charged!

[tomboyb] 18/7/2019 10:45

Not a question of hope but it is there spelling it out -

Which is why any buy above 0.20p at this stage is pointless imho -

[tomboyb] 18/7/2019 10:42

Resolutions 8 and 9 (authority to allot shares and disapply pre-emption rights)


On 7 June 2019, the Company published a circular to Shareholders (the "Circular") in connection with, amongst other things, the proposed Subscription and Debt for Equity Swap. Unless the context provides otherwise, capitalised terms used in the Circular shall have the same meanings in this Notice.

At the General Meeting, all of the Resolutions, except for Resolution 7, were duly passed and the Subscriptionand Debt for Equity Swap were completed on 26 June 2019.
However, as stated in the Circular, in the event that the Company is unable to raise Additional Funds of atleast £4.5 million by 31 July 2019 then, based on the projected cash flows of the Group, the Company would be unable to pay its creditors and it is highly likely the Company would need to be placed in administration. Any such administration would be likely to result in little or no value for Shareholders.

Based upon the closing middle market price of an Ordinary Share of 0.16 pence on 5 July 2019 (being the latest practicable date prior to the publication of this Notice), it is now likely that any equity fundraising to raise the
Additional Funds would need to be conducted at a price lower than 0.2 pence per share, being the issue price at which the Subscription was conducted. As such, the Consortium would be permitted to subscribe for Further Subscription Shares on the basis set out in the Circular and in accordance with the terms of the Subscription
Agreement.

To this end, the Company therefore needs to seek new Shareholder authorities in order to be able to allot and issue sufficient new Ordinary Shares on a non pre-emptive basis for cash to raise the Additional Funds. The Company is currently in discussions with the Consortium in relation to the structuring of the proposed equity fundraising.

Resolution 8 is an ordinary resolution to authorise the Directors to issue and allot new Ordinary Shares or to grant rights to subscribe for or convert any security into new Ordinary Shares up to an aggregate nominal amount of
£621,137.75, being equal to 6,211,377,546 new Ordinary Shares (representing approximately 448 per cent. of the nominal value of the Company's issued ordinary share capital).

[dave4545] 18/7/2019 10:41

Thanks tomboyb

I'll guess the share price will trade at a premium to the funding price now is seems the worst is over

So 0.15p funding share price around 0.18p

0.2p funding share price 0.23-0.25p

And upwards if they manage to pull off a premium but your link does suggest 0.2p or lower so I've banked profits and will sit on sidelines for now

[shirley83] 18/7/2019 10:39

Tomboy it says nothing about the sub 20 funding today because its not happening that liw anymore.

[tomboyb] 18/7/2019 10:36

Shirley the AGM also details that 7dig could go bust without the funds -

However today's rns indicates that there will be funds available however it is likely to be below the 0.20p as indicated on the AGM note -

Once that placing is done then i think i'll take another look -

Good luck -

[zen12] 18/7/2019 10:33

Where are the new funds you're talking about? There is a AGM on 1st but yet we still do not have the proposed placing deal...ramping is OK but you can't argue with what's in b&w!

[shirley83] 18/7/2019 10:32

Management team have changed.. Read the ladt couple if RNS.. They will provide funds.. Not sub 20 for sure

[shirley83] 18/7/2019 10:30

Does it mention new management.. Nope.. New funds nope.. Adding the drops

[tomboyb] 18/7/2019 10:29

Agm is on 1st -

Authority to granted issuance of up to 6 billion shares - ish

[shirley83] 18/7/2019 10:28

And look at 2 and 3...this is moving up.. Sub 30s gone by tomorrow

[tomboyb] 18/7/2019 10:22

hxxps://www.7digital.com/sites/default/files/images/FINAL-%20AGM%20Notice.pdf

Page 3 resol 8 and 9 -

[dave4545] 18/7/2019 10:18

tomboyb

Link for that paragraph please

[shirley83] 18/7/2019 10:11

New management new team new funds

[tomboyb] 18/7/2019 09:52

Certainly under those conditions it is pointless buying anywhere near above it -

Sorry chaps it does look like 0.20p and below -

[tomboyb] 18/7/2019 09:51

Based upon the closing middle market price of an Ordinary Share of 0.16 pence on 5 July 2019 (being the latest
practicable date prior to the publication of this Notice), it is now likely that any equity fundraising to raise the
Additional Funds would need to be conducted at a price lower than 0.2 pence per share, being the issue price at
which the Subscription was conducted. As such, the Consortium would be permitted to subscribe for Further
Subscription Shares on the basis set out in the Circular and in accordance with the terms of the Subscription
Agreement

From AGM -

It will be below 0.20p -

[zen12] 18/7/2019 09:32

No way pacing under 0.2, it's in black and white in the AGM notice...care to read before ramping!

[woolybadger62] 18/7/2019 09:30

Placing well below current price the pumpers are at it again

[shirley83] 18/7/2019 09:29

New management, new team, new placing price at 0.5 p

[zen12] 18/7/2019 09:27

This is unbelievable, considering placing coming under 0.2p...defies logic. Someone is pumping this before placing.

[dave4545] 18/7/2019 08:59

Strong online at the intraday high

0.23-0.25p

0.2375p bid and not buy quote for 250k

I will offload some this morning but I think this might easily get above 0.3p first an then if the spike herd play who knows