Let's Explore Share Discussion Threads

[extrader] 17/6/2023 21:42

Good for you re 100% acceptance. HL said yes to my 100% , then back-tracked....
Mine was just an arbitrage trade, I don't understand enough about the co going fwd.

GLA and ATB

[dsct] 17/6/2023 20:52

@Extrader

I tendered 100% of my shares and believe they've all been accepted, but like you, not received the cash (AJ Bell account).

I'll re-evaluate the company and if viable, I can now buy 50% more shares than I tendered with the cash.

[extrader] 16/6/2023 14:03

Cash for my 65% tender, due yesterday, still not credited, per HL.
Anyone else been paid?

[oldtimer169] 15/6/2023 10:42

Huge volume today.

[hatfullofsky] 13/6/2023 21:59

Very strange price action here

[hatfullofsky] 06/6/2023 11:38

Ok I have 278,019,772 taken the tender offer at 0.0475 = £11.25 (less than the £13.5m expected)Based on a cash level of £19m (I have excluded the loan note) £7.75m retained in 190,849,873 shares in issue = GBX 4.06So currently (at 3.3p to buy) we are trading 20% below cash.I would say that's a fair discount for the uncertainties

[fegger] 06/6/2023 09:54

Lets hope they meet this date: Payment of the consideration due to Shareholders whose tenders under the
Tender Offer have been accepted is expected to be despatched (by cheque or by
a CREST payment, as appropriate) along with balance certificates in respect of
non-tendered shares, on or before 19 June 2023.

[orange1] 06/6/2023 09:16

The announcement yesterday stated that 236,873,162 Ordinary Shares will be purchased under the Tender Offer and subsequently cancelled. The total value which will be returned to Shareholders pursuant to the Tender Offer will be approximately GBP11.25 million.

But there is also this:

The Company has received requests from a small number of longstanding overseas shareholders, who were not able to participate in the Tender Offer for regulatory reasons, to be able to sell some of their shares back to the Company. The Company is currently exploring mechanisms to facilitate this using the current on-market buy back authority which will expire on 29 June 2023, to put such shareholders in the same position as the UK based shareholders who were able to participate in the Tender Offer.

[extrader] 06/6/2023 08:08

Shoulda gone to Specsavers.

[extrader] 05/6/2023 22:13

And this AIUI is the cash position

There is £19m in cash plus a further $1.25m (£1m) to be received in February.

So effectively £20m in cash.

c.£1m net will be used to buy back the leavers shares.

c.£1m will be received from the exercise of 40m additional share options @ 2.5p.

So still £20m in cash.


If £13.5m will be used for the tender offer, that leaves £6.5m. About 3.4p per share.


Oops ! I think I misread my calculator….

Apols.

[extrader] 05/6/2023 21:42

From the RNS

The resulting post Tender Offer share capital will therefore be 190,849,873 Ordinary Shares.

I’ll try to come back re the cash later.

[hatfullofsky] 05/6/2023 20:59

Extrader, I have the following calculation - Retaining 152,359,829 shares at a cash level = £5.56m or 3.6p

Where do you get £8m and 191m in issue ?

More than happy to be corrected here.

[extrader] 05/6/2023 16:55

If the new business has around £8m in cash, on 191m shares that works out at 4p....

At a closing 3.7 to buy that's not overly attractive, esp given the execution risk on re-deployment.

[hatfullofsky] 05/6/2023 13:05

You absolute muppet. Once the tender offer is done this will of course fall back to cash levels.

[bennywin] 05/6/2023 10:33

Well aware of that thanks.

[bennywin] 05/6/2023 10:33

Well aware of that thanks.

[orange1] 05/6/2023 10:16

The result of the tender offer is due to be announced today.

[bennywin] 05/6/2023 08:36

What’s going on ?

Has the tender process failed ?

[kinggibbon] 05/6/2023 08:22

Scummy scummy market makers.

[bennywin] 02/6/2023 10:17

And who would have voted that one down ?

Can you see where this is all heading ?

[bennywin] 16/5/2023 05:22

Other Higginson ventures

discountdragon.co.uk

and Beermonster


www.ducati.com/gb/en/news/pbm-serve-up-beermonster-as-2023-title-sponsor.

A bit odd to sponsor a bike with the beer monster brand and then find the internet takes beer monster searches straight to discount dragon.

[bennywin] 09/5/2023 17:40

Obviously a full moon tonight .

[hatfullofsky] 09/5/2023 14:40

Perfect timing as ever benny :-)

"Strange markets at the moment and it seems that it doesn’t share your enthusiasm Mcfly"

SP up 10%

[kinggibbon] 09/5/2023 14:01

All aboard