Itsarm Share Discussion Threads

[waltzing] 10/3/2023 12:50

I thought previously everybody adored Adam he’s still the same person so what’s changed

[zen12] 10/3/2023 11:32

CEO trying to sell out company on shareholder expense. Just voting NO...Bidco is a newly established company incorporated in England and Wales and formed solely for the purposes of acquiring ITSFL. As at the date of this announcement, it is wholly-owned by Jaswinder Singh, the founder and principal of Baaj, however, Adam Frisby has agreed, conditional only upon Completion, to subscribe for new equity in the capital of Bidco representing approximately 23 per cent. of the voting rights of Bidco.In addition, due to Adam Frisby's interest in Bidco, the Sale also constitutes a substantial property transaction for the purposes of section 190 of the Act.

[turbotrader2] 10/3/2023 09:08

My 500,000 votes firmly in as NO

[zen12] 09/3/2023 12:37

Daylight Robbery here, if shareholders vote for this..75% vote required buy over 40% in public hands. No way they will get the vote if common sense prevails!

[theempire] 09/3/2023 11:48

Correction. They only 'have £1.2m' if shareholders agree to the sale, which they won't. What shareholders probably will have is a shell worth multiple of £1.2m, and the satisfaction that they played the game on their terms.

[hooded claw] 09/3/2023 11:24

FOMO from what ? They have £1.2m from their last asset ... how can that suddenly be worth multiples of £1.2m ?

[kimchi1] 09/3/2023 09:30

Interesting situation here with so few shares in issue / low free-float
Could easily bounce to 2p and further on FOMO as seen with a few other tiddlers recently.

[isno] 08/3/2023 14:31

This meeting will be headline news I wonder what the headline will say !!!!?????????????The Circular contains a notice of a General Meeting of the Company to be held at the offices of Hudson Sandler LLP, 25 Charterhouse Square, London EC1M 6AE at 9.30 a.m. on 24 March 2023 for the purposes of approving the Sale and the Cancellat

[tomboyb] 08/3/2023 12:32

Trading has picked up here -

Remember to note when on AIM founding members selling large stakes at IPO -

One to short or avoid -

[theempire] 08/3/2023 12:29

How do you build a £1.2M business?

Buy a £200M business and put an ideas-man in charge?

[theempire] 08/3/2023 12:27

Maybe the potential buyer wants the business, but not its founder?

If the business with the founder is valued at £1.2M, how much without him? £12M?

[tomboyb] 08/3/2023 12:16

That is possible -

Net to ITs is a mere £500k -

Current shareholders imo will not see a penny unless post 753 options are there -

The other problem is that Adam has said those options have bee explored -

A bit of hope a white knight comes along, however slim that is - ( providing those options have not been explored fully)

[firestorm911] 08/3/2023 12:09

There's a likelihood many parties buying now are potentially Adam's affiliates, and they intend to vote no.

I don't think all buyers have the same intentions.


Regards,
F911
RMC

[theempire] 08/3/2023 09:50

20+ million needed to be purchased to balance the books?

Wonder why the share price is spiking?

[tomboyb] 08/3/2023 09:37

1p would have given them ample time to buy back their shorts -

Only hope here is a white knight, either "offer" or "stake and equity placing" -

Other than that it is curtains -