Fireangel Safety Technol... Share Discussion Threads

[scorpione] 09/4/2024 16:47

Has anybody got a clue, about the low volume increase?

[the big fella] 28/3/2024 23:31

Graham Whitworth’s heart was always in the right place. Far too many poor decisions from all involved for them to be classed as a string of bad luck. I actually made a lot of money from these on the way up from the OFEX days. Easy come easy go. The only saving grace for me this time is I had the sense to get out rather than wait for the extra 10% from the offer. Some consolation but not much. Hey ho. Off to the States tomorrow so not all bad.

[microscope] 28/3/2024 22:15

Oh dear, I thought shareholders had at least received some solace through the offer, but even that seems very unlikely now.

I've been here myself with another company and my heart genuinely breaks for all of you involved. I was a holder in OFEX days of this one and made a few quid,(lost elsewhere!).

My red flag was when new management kept on some of the previous people. I seem to recall someone (TBF? and apologies if not), saying they liked and knew one or more of previous management. But for me personally, that's not the point. They might be the nicest people imaginable, but that doesn't automatically make them good businessmen. Companies like Minoan and Byotrol have gone down a similar route.

Think that's my takeaway from this, good guys aren't always the right guys.

Whether I'll learn this lesson, only time will tell!! Hopefully the lawsuit gets thrown out or settled at a low level, and you'll still get something back.

[the big fella] 28/3/2024 16:34

Well I managed to lose about 250k on the way down here so I am in no position to comment. You pays your price you takes your chance. At least I have managed to offset a few capital gains over the last couple of tax years. An unmitigated disaster which I called wrong pretty much from when I reinvested.

[phowdo] 28/3/2024 16:19

I presume this relates to the sealed battery issue.
Fortunate timing of the exit of the CFO as it was almost certainly their decision to save 5p/unit by using the cheapest chinesium batteries available that subsequently destroyed the company's reputation.

[tiswas] 28/3/2024 15:35

I think that I can wave goodbye to my warrants money which luckily is peanuts compared with the shares I bought in the threes and sold at 6.7p.

Will the bid proceed with this latest kick in the nuts?

[tiswas] 01/3/2024 09:04

Not sure if anyone other than the instis still holding but turning in to quite a saga.

I just have a handful of warrants left so still have a passing interest.

[tiswas] 22/12/2023 08:10

Surprised no drop on that news!

[billybunter1970] 08/12/2023 19:25

I wonder I long this delay will take to resolve?

[tiswas] 08/12/2023 17:58

It is owned and funded by Siterwell which is Chinese. I am not saying it is a valid reason for not getting clearance but I can see the daily mail headline about China spying in our living rooms and why I sold everything except a few warrants at 6.7p.

[harrogate] 08/12/2023 16:27

FA have been selling Chinese units for ages. And the buyer is Singapore based.

[tiswas] 08/12/2023 16:21

I think that this was always a potential issue and was in the offer document I believe. China, installations in the home, would be surprised if this isn't looked at.

[harrogate] 08/12/2023 15:59

Who knew that the NSIA would be involved in a fire alarm manufacturer. Surely a timing issue. Every government department from HMRC to probate office had basically given up so suspect whoever reviews the application under the NSIA is WFH

[gnnmartin] 08/12/2023 15:50

Offer suspended. My first assumption was that 'suspended' meant 'withdrawn', but the RNS is not easy to understand. Maybe it's not the beginning of the end, but the end of the beginning. Anyhow, here's hoping. :-)

[harrogate] 24/11/2023 10:48

As I said given they allowed themselves to be diluted when given the chance to invest at an average of 4.1p I can't seem them paying over the current bid.

[billybunter1970] 24/11/2023 10:31

What about Resideo? I'm really surprised they haven't made a counter offer, even if to just buy the European sales book and to utilise the FA Cloud infrastructure.

[harrogate] 24/11/2023 10:25

Downing said in their own fund update that FA offer level was disappointing but they supported it. I would have thought there will be no higher offer unless the old trade shareholder steps up and given they didn't support the last raise I would doubt that happening.

[brileyloucan] 24/11/2023 09:33

Surely this is in the hands of teh big holders BGF, Downing, etc. I wonder what they are thinking? Is a better offer realistically possible?

[harrogate] 24/11/2023 08:51

My shares are with IG and they haven't even sent me a corporate action notice so I have had no chance to accept. This sounds a mess of process and communication

[gnnmartin] 24/11/2023 08:48

It'a a game of chicken. It looks like the offer might lapse.

[gnnmartin] 23/11/2023 15:33

Thanks for the warrant update. Very fair.

Billy, I think you can accept for the warrants and not for the shares, but I think it unlikely that the shares will remain listed. Most likely is that the more than 90% of shares accept the offer, in which case Siterwell will compulsorily purchase the remaining shares.

If Siterwell get less than 90% acceptances, then they might abandon the bid, in which case no shares or money changes hands.

Or if Siterwell get less than 90% but more than (IIRC) 50%, they might go unconditional, in which case those shares & warrants that have been offered will be bought, and those that haven't will remain with the current holder.

In that last case, and just possibly in the first too, it is possible that Siterwell will just run .FA with the remaining shareholders in place. If they do that, it is likely they will delist the shares.

[tanneg] 21/11/2023 19:10

And in this evening's update,

"Your options are:
OPTION 1: Do Nothing (Default). You will keep your current holding if you do nothing.
OPTION 2: Accept the offer and receive GBP0.044 cash in exchange for each FireAngel Safety Technology Group plc warrant held."

[tanneg] 21/11/2023 12:47

My response from ii yesterday,

"I can confirm that we are aware that the FireAngel Warrants are to be included in the acquisition by Intelligent Safety Electronics PTE Ltd. Unfortunately, in the offer document there is no details on the mechanics of how this will be processed. We have today received some further information from the company regarding the Warrants, once we have reviewed this information a notice will be issued to holders of the Warrants providing further details."

[tiswas] 21/11/2023 12:24

You cannot have a default option of sell as people may have reasons not to do so.

If the warrants are in your brokers nominee account then they should have instructions as to how they are exercised. Must admit I am waiting to hear from idealing on this.