Fireangel Safety Technol... Share Discussion Threads

[tiswas] 27/10/2023 09:42

Don't think they would want to get involved with all the pains of manufacturing and supply chains, not their business. I would like to be wrong though!

[billybunter1970] 27/10/2023 09:38

I'm really surprised Techem haven't snapped them up. They could have bought them for not much more that the fees they will be paying in licensing fees over the next couple of years.

[tiswas] 27/10/2023 09:07

Thanks Pug but in truth the gut has been wrong all along except for this week when I should have followed it but at the risk of a very substantial loss if I had got it wrong again.

I assume Downing and the likes are on board. I assume that they would also have ran it past the Yanks who did not exercise their rights in the last fundraising and I would think are desperate to wash their hands of it. Market clearly thinks no more bids are going to be forthcoming, yet alone this one going through.

Interesting that the release did not say we are screwed without it, just tough times ahead.

[pugugly] 27/10/2023 08:23

tiswas - Congratulation on following your gut - Sold out over a year ago for significant haircut, but still better than t/o price.

I was looking at Safestyle for bottom fishing but gut was against it - Good thing given todays announcement.

[tiswas] 27/10/2023 08:00

Pug

Yes, I agree.

I will come out with a small loss with what was a largish position at cost. I always believed it was a market leading product in a growing and regulated market but management time and time again managed to screw it up. Where would we be if the current team had been parachuted in a few years back?

So I actually feel that I have won the lottery considering the alternatives, bankruptcy. As well as taking up the last rights issue I bought a decent slug at 2.9p and the gambler in me wanted to double up this week because the sale period was ongoing so something must have been happening. Sadly, the brain for once overruled the gambler but still happy with the result.

Commiserations to long term holders and the directors who have seen decent sized pension pots evaporate.

Now, what do I do with the warrants?

[bigbigdave] 27/10/2023 07:02

The Boards of Intelligent Safety Electronics Pte. Ltd ("ISE") and FireAngel Safety Technology Group plc ("FireAngel") are pleased to announce that they have reached agreement on the terms and conditions of a recommended cash offer to acquire the issued and to be issued share capital of FireAngel not already owned or controlled by ISE (the "Offer"). ISE is a company incorporated in Singapore and wholly-owned by Siterwell Electronics Co., Ltd ("Siterwell"), a leading manufacturer of intelligent security protection for life and property which utilises an advanced smart security ecosystem technology. ISE currently holds approximately 17.46 per cent. of the issued ordinary shares of FireAngel Safety Technology Group plc.

Under the terms of the Offer, the shareholders of FireAngel ("FireAngel Shareholders") will be entitled to receive:

7.40 pence per share in cash for each FireAngel Share

· The Offer of 7.40 pence per share in cash for each FireAngel Share (the "Offer Price") values the total issued and to be issued share capital of FireAngel at approximately £27.68 million.

[s works] 28/7/2023 22:21

100% agree not worth the paper it's written on and very year they spin yet more promises.

[yasx] 26/7/2023 00:33

Horrendous performance.

[billybunter1970] 27/6/2023 09:26

Do you think it is worth attending the AGM? I have never been to one. Is it just a box ticking exercise to pass resolutions or will I get a feel for the new management and the direction they plan to take the company in?

[spannferkel] 16/6/2023 09:20

Even if the management get the £6m they want, it will only put them back to square one.
Would like to see the new management taking the bull by the horns and stop squandering money. A cost reduction programme to reduce outgoings by £1m or more would be a good starting point.

[spannferkel] 14/6/2023 12:26

buy shares in Fireangel = lose money

[tiswas] 14/6/2023 09:49

Don't really get that last comment.

We have new management coming in with a track record of extracting value and sticking in 0.5m of their own money, the supplier must be more aligned converting debt to equity and Resideo are yet to show their hand. The exchange rate is moving their way, Techem is not far off and it is a growing market.
This could be 20p or bust in a few years time, the bust option being a lot sooner, but either way def last chance saloon time.

[lucicavi] 14/6/2023 09:34

tiswas, that seems to suggest 3p is next on cards as we get selling pressure from those guys. Its free money for them in a year if they can get it

[apshire2308] 13/6/2023 20:03

Thanks for your input. Assuming we take up the share buy option then do we need to do anything to get the warrant shares ?

[tiswas] 13/6/2023 09:27

The warrants come as a free "kicker" with the open offer shares on the basis of 1 warrant for every 2 of the new shares so you do not pay additionally for them.

The warrants have 42 day windows on the 1st to 3rd anniversary to exercise them at 3p for new shares.

That is my understanding so far as I am aware.

[apshire2308] 12/6/2023 15:07

How does this share consolidation work exactly. If you had 1000 shares then do you pay 5.05p each to buy 2/3 of 1000 = 666 at 5.05p = £33.67 ?Then the 1 for 2 warrant at 3p each . Is it 667/2 = 333.5 at 3p = £10 ? Also are all these new shares on top of the 1000. I.E / in the example above would the end result be 1000 + 666 + 334 = 2000. OrIs it 666 + 334 = 1000 as the end result.

[emperors tailor] 08/6/2023 09:48

Exactly as predicted on my last post...yet another share offer to raise more mug cash, execs packages remain very generous for utter failure. So off we go again, great 25 career for the execs. Sell the sizzle of a non existent sausage and always jam tomorrow. How long can they draw this out ? As long as the shareholders let them get away with it.

[pugugly] 06/6/2023 11:20

Dead duck:- be less costly to buy from a liquidator - If it comes to that - (imo & dyor)

[horndean eagle] 06/6/2023 09:37

Resideo have not been sounded out. They were not informed of the fund raise. They need to go and sell themselves to them or to someone else. You would have to think it makes sense for a competitor to put them out of their misery and slash costs.

[tiswas] 06/6/2023 09:07

Nothing annoys me more than calling things right and losing a lot of money in the process!

tiswas16 May '23 - 16:15 - 805 of 818 Edit
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Yes, that was the first thing that I noticed.

Eerily quiet at the moment. I still maintain there is a good company trying to get out but it would not surprise me if yet another fund raise is being discussed, hence the delay in the accounts being published.

tiswas17 May '23 - 11:08 - 808 of 818 Edit
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LOL!

I agree with the JC comments. He came highly rated, I have a lot of time for him but he has taken us backwards. I would not be surprised if a change at the top was a condition of any fund raising, if needed. Either way we will know very soon.

What now?

Well, I think the fund raise is to show would be predators that they can not pick it up for nothing from liquidators. JC going is a good move and the new management team putting money in also think it is a good bet.

The warrants are also a kicker for a quick turn, albeit I have not seen the expiration date yet, and if Techem do not worry and pull out there is a fantastic opportunity there.

Will Resideo take up their entitlement or simply bid for the whole company before further dilution? I assume that will have already been sounded out but who knows. This will certainly force their hand.

Still something to play for imo. If I take up my entitlement and we get a bid north of 12p then I break even. LOL!

[microscope] 06/6/2023 07:34

Last one out turn the alarms off.Maybe that's harsh but even if we take a more charitable view that these results are kitchen sink, who's to say the next ones, if they make it that far, won't be more of the same, with a tough start to the current trading year already flagged up GLA holders, you're sure going to need it if you sit this one out. A bullet dodged personally.

[masurenguy] 06/6/2023 07:14

LOL - Conoley departs with immediate effect, placing @5.05p and annual loss increases by 64%. What a complete can of worms !

[crankylad] 29/5/2023 09:43

Cut immigration.. petition.