NXT Share Discussion Threads

[amt] 23/9/2010 08:51

"Why not say the placing price" probably too ashamed !

[enia] 23/9/2010 08:51

e net proceeds from the Firm Placing of approximately GBP4.2 million will be
used to cover the expected working capital shortfall in November 2010, to
strengthen the balance sheet, to restructure the Company and to ensure that NXT
is well positioned for growth, as well as to develop some of the Group's
existing products. The use of the net proceeds of the Firm Placing is set out
below:

+----------------------------------+----------------------------------+
| | GBPm |
+----------------------------------+----------------------------------+
| Working capital | 0.1 |
+----------------------------------+----------------------------------+
| Strengthen the balance sheet | 0.6 |
+----------------------------------+----------------------------------+
| Product development | 2.5 |
+----------------------------------+----------------------------------+
| Redundancy costs | 0.5 |
+----------------------------------+----------------------------------+
| New management | 0.5 |
+----------------------------------+----------------------------------+

[somfawa] 23/9/2010 08:50

Why 3p? Why such a huuuuuge discount to market price? (although not for much longer). Because they had to make it enticing enough to be taken up 100% or else it's bust?

[plutonian] 23/9/2010 08:50

Yes, why not say the placing price?

"NXT also proposes to raise up to a further GBP2.5 million before expenses, by
the issue of 83,275,581 New Ordinary Shares"

So, simple calculation 2,500,000 / 83,275,581 = .03002081 (about 3p)

[folderboy] 23/9/2010 08:49

Apologies should have added:

NXT raising £7.5m by means of a £5m placement with institutions and a £2.5m open offer to private investors at 3p.

Shafted isn't in it.

[amt] 23/9/2010 08:49

Does it actually mention 3p then ?

[warmsun] 23/9/2010 08:47

...

edit....thanks for the info above re 3p........

As a long time shareholder, I feel as though I have indeed been shafted....nowt for loyalty ....new shareholders will be the winners....

[enia] 23/9/2010 08:47

It is 3p per share in the prospectus !

[amt] 23/9/2010 08:47

Looks like my 6p prediction was optimistic.

[tom5boy] 23/9/2010 08:45

Can anyone confirm the qaulification date?

Was it in affect yesterday.

[amt] 23/9/2010 08:44

I calculated 3p per share by taking the proceeds over the number of shares. However might not be as straightforward as that since have other options attached. Its not very clear. Hence the market is not sure either.

[plutonian] 23/9/2010 08:44

No, it looks like 3p.

[folderboy] 23/9/2010 08:40

Qualifying Shareholders can subscribe for Open Offer Shares on the basis of
0.525 Open Offer Shares for every 1 Existing Ordinary Share held, and may apply
for any whole number of Open Offer Shares.

[warmsun] 23/9/2010 08:38

at what price are the shares being offered ?????

[psyco] 23/9/2010 08:37

somfawa , i have topped up and have not read any reports :-))

[somfawa] 23/9/2010 08:30

And yet at some point today we will get the eternally optimistic posters saying things like:

"I've just read through it again and it's actually not bad, there's obviously some big contracts they can't disclose at the moment. Feeling much more positive and have topped up".

[explosivetips] 23/9/2010 08:30

Plus the BAD PRESS tomorrow will take another blow.

[isis] 23/9/2010 08:20

Effectively Old shareholders have been wiped out after 20 rights issues and £130m up the swanney they are starting over again.
Anyone coming in at this point is buying a new Company and the Old shareholders get zilch unless they stump up more. imo

[caradog] 23/9/2010 08:18

Well there you have it. After about 20 years developing a unique technology, setting up offices abroad and working closely with major licensees, the company has a turnover that does not match my local garage. It needs the cash equivalent of twice its annual income to make it through November. Shareholder investment over the years has been turned to dust and the company has to virtually start all over again. Traditional rights issue being made to save the company. Is it worth it?

[aphrodites] 23/9/2010 08:05

amt

Join SLG and you will get it for free! :0)

[amt] 23/9/2010 07:58

Did the share price drop 30% yesterday or is that today ? Strange at 7.30 am the share price was 6.5p before market opened but advfn showed 10p close yesterday.

[explosivetips] 23/9/2010 07:54

Milked high and dry.The GAME IS OVER.British technology R.I.P.

[amt] 23/9/2010 07:52

APHRODITES - why not publish the report here if it helps to give us a better picture. Thanks in advance.