BNN Technology Share Discussion Threads

[andy] 25/10/2017 14:37

GENISES25 Oct '17 - 13:09 - 8185 of 8186 1 0


The company can exchange the loan for shares if required,,!!


Hang on, so DM owes BNN money, and they give him more BNN shares and write off their loan to him, is that your idea?

Are you serious?



"Mercer won’t need to sell on the open market or have all his shares as collateral on a new loan with a bank which pays interest!! Cheeky sod".


How do you know DM "won't need to sell on the open market" exactly please? Has he told you, or are you hoping?


I sincerely doubt a bank would take BNN stock as collateral for a loan, particularly after the suspension.



"on a new loan with a bank which pays interest!!"

Please tell me which bank gives you a loan and then pays you interest? I'll be straight there!

[andy] 25/10/2017 14:30

redhill9,

Thanks for the partonising response, I am fortunate to have someone as knowledgeable as your self here to guide me and point out my "ignorance"!

[genises] 25/10/2017 13:09

The company can exchange the loan for shares if required,,!!
Mercer won’t need to sell on the open market or have all his shares as collateral on a new loan with a bank which pays interest!! Cheeky sod.

[redhill9] 25/10/2017 11:38

Andy, Rules on director/employee share dealing is something I happen to know about having had to manage such situations in my work. Your comments on this subject seem to be based on ignorance, mine are based on knowledge and fact.

[andy] 25/10/2017 11:23

and11,

Yes and as he has previously extended repayment of the loan, I wonder how he might raise funds to repay it on time now, which I think he will?


Selling some shares must surely be a possibility don't you think?


I'm not even sure he'll be restricted in buying or selling to be honest, it's not a given.

[and11] 25/10/2017 11:09

Andy, as stated in the rns DM will pay back the loan by year end! I’m sure this has been agreed by the Chairman & by DM prior to the rns otherwise why state it..

[andy] 25/10/2017 10:55

and11,

So are you suggesting that if he needs to sell shares to pay back the loan to BNN, they will deny it?

And if he has no other way of raising the funds, what then?

Will they take him to court?

Come on!

[and11] 25/10/2017 10:48

Andy, assumption’s being made here. DM holds about 12% of the stock around 30million shares. I would find it highly unlikely that the Chairman or the board would allow any trading by DM unless cleared by the board & imho this will be written as conditional terms in his contract for his new role within BNN...logical really...😎 as the Chairman stated in his rns. All about corporate governance

[andy] 25/10/2017 10:30

redhill,

You are making assumptions there, and stating them as facts!

Firstly, let's deal with his loan issue. I am suggesting that a possible solution would be to sell some of his shares to the value of the loan, and pay it back that way. Are you seriously suggesting the company would block such a move?

And if you are, and he says he cannot pay it back any other way, what then?


"In most companies all senior employees also have to seek permission to deal in a company's shares."

What you don't know are the specifics in THIS CASE!



"Also, any employee who has share price sensitive information is additionally restricted"

As far as I'm concerned, this is plain wrong, as directors will ALWAYS have share price sensitive information not in the public domain, especially a company actively doing deals.

They are not allowed to deal in "closed periods" (there are exceptions), I suggest you check the AIM rulebook.

[charlesdarcy] 25/10/2017 10:14

Redhill
That was my point , restrictions will be needed as he has proved he can be reckless towards the company

[redhill9] 25/10/2017 09:55

Andy25 Oct '17 - 09:50 - 8176 of 8176 0 0
Andy - 24 Oct 2017 - 09:24:36 - 8126 of 8176 BNN Technology plc - BNN

DM will pay the loan back IMO, how many shares does he have?

-------

Charles,

Agreed, hence my comment in the post above.

And now he's not th CEO nor on the BOD he can sell without notifying!

No he can't. It isn't only board directors who have restrictions on when they can sell shares. In most companies all senior employees also have to seek permission to deal in a company's shares. Also, any employee who has share price sensitive information is additionally restricted, which will presumably include DM in his new role even if not on the BoD.

[andy] 25/10/2017 09:50

Andy - 24 Oct 2017 - 09:24:36 - 8126 of 8176 BNN Technology plc - BNN

DM will pay the loan back IMO, how many shares does he have?

-------

Charles,

Agreed, hence my comment in the post above.

And now he's not th CEO nor on the BOD he can sell without notifying!

[highasakite] 25/10/2017 09:36

If and when trading resumes it will tank. Q3 trading on its knees.

[charlesdarcy] 25/10/2017 09:32

If DM , is no longer going to be on the board or a director in any form at BNN .
He will be much more free to place lots of his shareholding and get cash in the Bank .
And pay back the loan quickly .

It maybe that the new CEO will automatically bring in a company rule where no employee can sell stock without giving a period of notice .
As this stock is going to need heavy support from the larger shareholders in Year 1&2 .

[newbie17] 24/10/2017 19:19

Redhill9 ,,, my thoughts exactly. For the people that are flummoxed with the lack of detail regarding reasons for suspension I think you should learn to read between the lines. The lines being those of fraudulent wrong doing and those of minor details that needed to be addressed which, may I add, where pointed out as known issues in the latest RNS. These issues have been addressed by the board and the re positioning of key personal is by way of mutual agreement. There is no need to wave red flags instead of yellow ones here. Wrists have been slapped which has ultimately resulted in a more consumer (investor) friendly set up than the company has had to date. May I remind the serious and straight headed investors here to not engage with the flakes that are feeding off your anger when reacting to their posts. This is a perfect time to disengage with the idiots and take away their stage. Let's all return to sensible discussion be it for or against BNNs potential. We know who the idiots are so don't respond. Ayesha, my contacts information is the same as your posted info regarding DMs position and his feelings. He is now where he should be. Excuse the comedy pun but it's a case of "horses for courses" ,,,,

[andy] 24/10/2017 18:50

ripplevale24 Oct '17 - 17:31 - 8161 of 8166 0 0

Not sure where the shorters are going with this. Report was signed off by a PWC partner and frankly, the issues were more style over substance and could easily have been sorted out in-house if the Chairman had knocked heads together.

-------

Can you please explain the issues you are referring to?

[redhill9] 24/10/2017 17:54

ripplevale24 Oct '17 - 17:31 - 8161 of 8162 0 0
Not sure where the shorters are going with this.....

One interesting aspect of the share suspension is that with it's sudden announcement in early September any trader who was short in BNN will, as I understand it, be frozen into that position but with the ongoing monetary cost of holding a short position continuing. Initially the suspension must have had them drooling with anticipation of something seriously amiss with BNN and the prospect perhaps of the company folding, and their short position being closed at zero.

Today's RNS must have given them the shivers as not only does it look as though potentially BNN will emerge from suspension a stronger corporate entity but the absence of any announcement regarding contracts and state of the business can be interpreted as meaning that all is well in these respects, and that revenue is being generated. If it were otherwise surely the PWC investigation would have revealed it?

As someone holding BNN shares for the prospect of what the company might be worth in a year or two, I'm more than happy for the market suspension to continue for as long as is necessary to establish the strengthened executive and non-executive management, as well as allowing for the company's trading revenues to grow to underpin the share price when trading resumes. In the meantime (say, 2-3 months?) we have the "shadenfreude" of imagining the ongoing pain of those who are short.

[squiresquire] 24/10/2017 17:45

Genesis

Honestly are you serious in thinking they will now list in Nasdaq.? Surely Nasdaq wouldnt touch them with a barge pole now, or am i wrong about their standards.

I dont necessarily mean the company cannot do well, but you cannot seriously tell me this news out today explains why, a company using millions of pounds of other peoples money saw fit to close down operations, suspend share trading and create a news blackout for weeks. They have not given a clear explanation of the chaos at all, how they can be so inept is beyond my understanding, how could they be so daft as to think they can just ride rough shod over all of us in this way. Nasdaq? forget it unless its now like Groucho Marx's club.

[ayesha4] 24/10/2017 17:38

Darren has always stated an exit of £3 per share plus. I can tell you thats still the case. He still feels that within 18months that the company will be gobbled up by a bigger player. The market is big enough for that to happen.