Big Sofa Technologies Share Discussion Threads

[thetrotsky] 02/9/2022 17:03

Thanks for the heads up; it certainly allays some of my concerns. The documents really ought to be on the Companies House website by now. By the way it's LifeStream not LiveStream.

I'm umming and ahing about whether to subscribe. £24 isn't going to break the bank and the executive directors Briggs, Mustoe and Metcalfe have, between them, stumped up £500k+ as part of the subscription (but have no plans to take up any additional offer shares). It's hardly chump change and, given BST's recent history, I'm not sure I'd have put £500k+ into BST at this stage. It's certainly a statement of intent.

I appreciate that there are no guarantees in this life but (don't tell the wife) I think I might put in £50 and try and pick up some additional offer shares whilst I,m at it. There's a sucker born every minute ;-)

[ohojiim] 02/9/2022 08:26

I went off and found it buried at the bottom of the new LiveStream website but thanks for your reply.

Are you leaving this just written off or have they repeaked an interest?


Write off for me :(

[ohojiim] 02/9/2022 07:34

TT, did you get any coms about the shareholder meeting? You appear to be on top of the rules. Not sure what rules if any apply when they delisted regarding this follow on action. Very curious as to what s going on though. They have a new website and name LifeStream

[ohojiim] 02/9/2022 07:30

GheeBee where is that info you've posted available? Were you a shareholder at delist? I received a corp comm from HL and in the FAQ's Is the open offer subject to shareholder approval?The open offer was approved at a shareholder vote at the general meeting held on 23 August 2022.Was anyone made aware of this meeting or received official docs about its content?

[gheebee] 01/9/2022 18:16

The Company has conditionally raised £1,499,400 before expenses by separate subscriptions for, in aggregate, 1,499,400,000 New Ordinary Shares at the Issue Price.
The Subscription is conditional on the passing of the Resolutions and if the Resolutions are not passed, the Subscription Shares will not be issued.


Results of General Meeting

The General Meeting which was convened for 11a.m. on 23 August 2022 was duly held and all resolutions were duly passed. Note that the nominal value of each ordinary share has reduced from 3p to 0.1p with effect from 11a.m. on 23 August 2022. Note that no new share certificates will be issued to this effect and therefore shareholders should treat their share certificates as being for 0.1p shares rather than 3p shares.

[thetrotsky] 01/9/2022 17:52

Anybody else received a corporate action notice today. BST Group ("BSTG") are making an open offer to all existing shareholders to purchase three new subscriber shares for every existing share that they currently own at 0.01p per share.

I've questioned this with ii because the nominal value of BSTG's existing oridinary shares is 3p per share and, as far as I'm aware, it's not legal to issue new shares at a discount to their nominal value. I'm assuming that the Board and other large investors are relying on PI apathy to try and swamp them out but there's already 216m shares in issue so it all seems rather academic to me.

I currently hold 8,000 shares and appear to be being offered the opportunity to buy 24,000 additional shares (with a theoretical nominal value of £720) for £24 (a figure ii confirmed over the phone)!

ii's initial response was to say that the nominal value of the shares isn't relevant to the open offer but I've begged to differ. If this was legal then, in the event of a solvent winding up, you'd in effect have acquired an equivalent right to any existing shareholder to the capital available for distribution despite having only contributed one 3,000th of the nominal share capital per share! I have to admit that the question of a solvent winding up in the absence of any apparent purchaser willing to acquire BSTG's assets at a significant (astronomical) premium to their current book value would seem to make it a mute point but, on principle, that's irrelevant.

I'm almost tempted to chuck £24 at it just to see what comes out of the woodwork, if anything, but would not be happy to susbcribe only to find that I'm expected to stump up £720 (or more) at a later date because of an error in their paperwork.

The amount that BSTG seem to be asking for the new subscriber shares is risible and, allowing that there are 216m shares currently in issue, will, by my estimate, only raise £65k! That'll barely cover the issue costs if that! Something's awry (or afoot).

[toffeeman] 17/8/2020 21:03

29 April 2020

NOTICE

29/04/2020 7:00am

NOTICE OF CANCELLATION OF ADMISSION TO TRADING ON AIM - XLON

At the request of the Company the following securities have been cancelled from trading on AIM with effect from the time and date of this notice.

[linton78] 17/8/2020 18:03

Tom W is a financial genius... Lol.

What a clown he is!

[toffeeman] 16/3/2020 09:02

Those options will be valueless!

[pugg1ey] 16/3/2020 08:44

rocket has crashed it seems

[philjeans] 09/1/2020 15:53

Nice support here today - miles to go.

[philjeans] 05/1/2020 08:04

That customer will buy them out too!

Bargain down here.

[philjeans] 04/1/2020 11:57

Fundamentals. The company is now funded through to profitability and will make a PTP in calendar 2020 of several hundred thousand pounds to £1 million. Next year Id expect a seven figure sum so the PE (there will be no tax to pay for ages thanks to Mr Liddington’s sterling efforts) so the stock is on an easily single figure 2021 PE which is far too low.
Corporate. IPSOS is a major customer and shareholder. In the industry I gather that the perception of Big Sofa and Ms Fuller is very different to that of AIM where the company’s past has so blinded l punters that they cannot see the value. If the shares are not re-rated by AIM I view this as an obvious takeover target.

Good value down here.

[rock star] 04/1/2020 08:42

A quick look at the accounts tell you a fund raise is imminent.

That’s probably why Shareprophets are pumping it.

[d1nga] 30/12/2019 13:50

Didn't share prophets lump into these an age ago at much higher prices?

Painting their own book maybe.

[kreature] 04/11/2019 16:21

"an initial spend of more than $400,000 expected to be recognised as revenue in 2019 "

'expected to be' ? Doesn't sound too definite imv. Can be 'recognised' in 2019 but when will it actually be received ?

'one of the world's largest food and beverage companies'

Who is that then ?

[chinese investor] 31/10/2019 07:11

Good RNS !