Feedback Share Discussion Threads

[ducatiman] 14/6/2018 17:54

Yep, let's see.

[lr2] 14/6/2018 17:37

If they release positive news before the next placing they are looking after their shareholder base, if they release positive news following the placing they are looking after their own skins.

[ducatiman] 14/6/2018 17:28

Totally agree LR2 but the way the sells are coming it looks very much like a deliberate strategy to drive the price lower. Gotta love AIM! Here's hoping they release some positive news before a placing and not after like the last one!

[lr2] 14/6/2018 16:03

I believe the people who gained shares in the last placing are primarily the sellers now as they can likely bank a profit and load up again at the new placing price which looks an odds on certainty to be below 2p by a fair margin.

I'm not at all happy with the BoD right now, they had the opportunity to issue a further 46,938,800 under the existing right to issue shares even without contemplating a rights issue to existing shareholders. No warning RNS needed so no wholesale price destruction either.

The share price on the day before the General Meeting RNS was 2.8p. If they had issued then, even at a highly discounted 2.5p they would have raised £1.17 million. Let's see what gets raised next time around. The price they raise at is likely to be 1.75p at the rate this share is falling, maybe less. At 1.75p, they will need to use 67,055,430 to achieve the same result.

That almost 21 million more shares for no more money. To save themselves from looking like prize pumpkins I would suggest the board will offer even more shares as a saving face exercise. If the board are active investors in this new placing then it looks just a little bit like trading on inside knowledge to me.

Time will tell how close I am to being correct.

[ducatiman] 14/6/2018 15:39

I believe we are being shorted. If not a large holder is deliberately trying (successfully) to push the share price lower.

[ducatiman] 14/6/2018 15:39

I believe we are being shorted. If not a large holder is deliberately trying (successfully) to push the share price lower.

[lr2] 14/6/2018 15:25

Freddy, is not reading the document correctly. DYOR. They seek to issue more than 20%.

[botack] 14/6/2018 15:15

Exactly duc ,The market hates uncertainty,especially self inflicted

[ducatiman] 14/6/2018 14:42

We don't know what may happen before any fundraising. I would be a buyer at these levels but for the incessant drip selling.

[botack] 14/6/2018 12:54

Mhhh ,You think hinting at a placing with possible imminent timing is clever ?, I think it was ambiguous @ best , worst case scenario is it will not only confuse shareholders but deter any incoming until When ????? @ 2p ?
That placing ( should there be one ho ho ho ) could be anytime up to next agreement and at a very sever discount to what it was @ 08.00 on the 7th of June

That,s clever ?

[ydderf] 14/6/2018 12:44

Nominal value £140,808 refers to the issued share capital, and is equivalent to 20% so with 280m shares currently in issue that means a further 56m shares at say, 2p is equal to £1.1m. I am surprised that so few people seem to understand the significance of the GM. It was a clever move to issue two RNSs clearly!

Whatever you think about prospects, the more shares that are issued, the less of the cake each share represents. I doubt if so many shares would be contemplated if the directors were substantial holders themselves, spending 18 grand as one director did recently is not material

[botack] 14/6/2018 12:25

YdderF
Is this your reference -

the allotment of equity securities (otherwise than pursuant to sub-paragraph (a) above) up to a maximum
aggregate nominal value of £140,808 (being the nominal value of approximately 20 per cent. of the
issued share capital of the Company),

I think you might find they want a lot more than 140K

[botack] 14/6/2018 12:25

YdderF
Is this your reference -

the allotment of equity securities (otherwise than pursuant to sub-paragraph (a) above) up to a maximum
aggregate nominal value of £140,808 (being the nominal value of approximately 20 per cent. of the
issued share capital of the Company),

I think you might find they want a lot more than 140K

[botack] 14/6/2018 12:13

The Company has posted to its shareholders a circular containing a notice convening the General Meeting (the "Circular"), the purpose of which is to seek renewed authorities to allow the directors to issue ordinary shares for cash on a non-pre-emptive basis as the authority granted at the last Annual General Meeting has largely been utilised. The Circular will be available on the Company's website shortly at www.fbk.com.

 Where is the 20% ?

[botack] 14/6/2018 12:07

YdderF
The official line is a placing is not Imminent and not within June
Where did you get that 20% from ,Was it in the RNS ?

[ydderf] 14/6/2018 11:37

Why would anyone buy when the Board have said a further fund raising is imminent? The GM to issue 20% of the share capital is called for the 22nd June - seven days from now. It seems it is easier to tap the market for cash than get sales. Ask yourselves who gets hurt by dilution and who benefits?

[ducatiman] 14/6/2018 11:07

Drip, drip.

[ducatiman] 13/6/2018 18:42

1.5m showing at 2.11

[ducatiman] 13/6/2018 16:33

Tongue in cheek ash but you never know. Someone is offloading chunks again daily.

[ashtree2] 13/6/2018 16:27

ducat....are you serious?

[ducatiman] 13/6/2018 15:44

TB is probably shorting us now!

[ducatiman] 13/6/2018 15:44

TB is probably shorting us now!

[sonie01] 13/6/2018 15:31

Thanks LR2

[ducatiman] 13/6/2018 13:41

A few others thinking same as you ash