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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Overnet Data | OND | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
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|---|---|---|---|---|
| 0.00 | 0.00% | - |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| Top Posts |
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Posted at 12/3/2009 18:20 by kiwimonk Just dropping in to wish Good Fortune to all fellow ex-Overnetershope you are all well OND was a ride. Whats the next one? Times are mighty tough, but I there are still opportunitys down the road. KM |
Posted at 16/6/2004 11:48 by mangal For anyone who is holding or interested in OND, I have today started a new thread, FGN. |
Posted at 04/6/2004 07:21 by capricorn_1 Stew - I must say I find your 38p placement article quotation very intriguing. I certainly have a view on what's going on, but I've decided to keep any further calculations to myself now until after the EGM (I'll just say that the current share price must have a speculative guess between the asset value of the business and the value patented revenue future cash flows, IMO). And once OND is completed hopefully this will have provided a good test case for what to expect with VOS. |
Posted at 26/5/2004 23:17 by capricorn_1 Stew - Firstly thank-you for reviewing my points, which were mainly made to stimulate discussion. 1. You are correct the current volume of shares in circulation is 9.16M. This has now been edited. 2. You are also correct that technically this is a Placing and Acquisition...indeed it is a "float" that FuturaGene are avoiding through this RTO. 3. You state that you believe the price conditions of the placing have been fixed already. Whilst, like you, I'm sure a target placement price is set, why do they need to say a maximum of 45M shares? This implies that there is scope for movement here. 4. They state that 17.5m shares will be locked for 12months. They also say this represents 69.57% of the enlarged capital. Surely if one states a pct. like this then they are saying that they've already decided that 16M shares(17.5/0.6957 - 9.16M)will be placed onto the market on June 15th. If that's the case then what's the point of getting 45M shares authorised at the EGM? I might be wrong about this, but what if a NAV for futuragene had been set at an agreed target price, and then OND shares on the evening of the 14th June were only trading at 40p, whereas the valuation calculations had assumed 100p...wouldn't they need to issue more shares to meet that valuation? Hence the point re: "maximum". If my assumption were correct then the MMs would have an interest in stabilising the price torwards its target level, would they not...Are today's SARs not part of that process? |
Posted at 26/5/2004 20:47 by stewjames topnotch, I suspect I'm one of the "experts" you're referring to. If so, then I'd like to point out that I questioned you, not derided you.StewJames - 3 Feb'04 - 15:58 - 53 of 227 edit topnotch, I understand fully why a company would want to get an AIM listing. What I don't understand is why they would choose Overnet at 50p as the vehicle. In your own example, you would have had to relinquish equity not just to new investors in the placing but also indirectly to the existing shareholders of the company you were reversing into. In the case you cite that wouldn't have been too onerous since it would have "cost" you a few hundred grand of your company assuming terms were based on fair value at the current shareprice. In the case of any company reversing into OND, that cost would be 5M, or 10M if your quid target is to be believed. Why would you want to do that? There are other, far cheaper shells around, for example MKP trading at around net cash. Not to mention the more traditional route to obtaining a listing costs a fair bit less than a million itself. I stand by everything I said. The owners of Futuragene are surrendering a substantial portion of their company to get access to the cash. If the current valuation is at all realistic then they've been forced to accept well below that value in order to secure funding. capricorn, today's SAR shows there are 9.15M shares in issue. I don't understand where you're coming from with this: 1. The new proposed floated volume of shares will be 25.26m, hence 15m will be floated on June 15th following EGM approval (very conveniently exactly one third of the total approved share capital). Today's SAR shows there are currently 9.15M shares in issue. What's convenient about issuing exactly 1/3 of the authorised share capital? 2. OND are making an assumption of what the target share price will be on June 15th, in order to make this calculation (i.e. 17.5m / 0.6957). At current prices, the combined entity will be valued at £25m! I don't see anything in the wording of the announcement suggesting a price-dependent component. It reads as if all the conditions and prices have all been fixed. The market price makes no difference. 3. There is a provision to issue a maximum of 45m shares...this is available presumably for further share placements after the first 12months working capital runs out and/or in case the target share price upon floatation drifts lower than the current calculation. This relates to the purchase price of Futuragene. The maximum price will be 45M shares. These shares will not be used for fundraising activities (at least, not unless the conditions for their issue have passed). I'd guess there's another resolution about increasing the authorised share capital which would allow them to issue more shares for cash, although it may be high enough already that they have no need to do this. Changes in the authorised share capital don't generally mean much. Most companies have a safety net whereby they can place shares without having to consult shareholders first. Doesn't necessarily mean they will. So the next question is what is the expected float price for the shares £1, £1.5 (as someone suggested last week), 75p....who knows (besides the MMs managing them to their final destination June 15th)....but £1 so far seems to be the center of gravity for this stock. This is a placing and acquisition, not a float. The shareprice is completely irrelevant to the process. Today's RNS are interesting. Someone has taken a very large spreadbet position, presumably since the suspension was lifted. Could be a straightforward long but I'm more inclined to think it's related to the placing and acquisition somehow. Any ideas? |
Posted at 26/5/2004 09:08 by capricorn_1 Sho - I've recently bought into VOS and am hoping that they will perform a value enhancing RTO over the coming months. They are not in suspension at the moment, and with Comdirect one can buy up to 500,000 for 1.08p at present (saving of 0.17p). In fact I might buy some more myself in due course. I've now taken the trouble to read all the OND announcement. I can now see that although these are highly speculative, there is in fact some logic in holding them in the run up to the 15th June merger, especially given that most of the new shares will "locked in" for 12 months, if I've interpreted the announcement correctly.* The key for me though is the waiting time from trials of the patented technology to revenue generating activity. *edit: If there are 9.16m shares in circulation at present and we are told that the "lock-in" number of shares will be 69.57% of total new placed shares or 17.5m, then we know two important assumptions about the placement and acquisition: 1. The new proposed floated volume of shares will be 25.16m, hence 16m will be floated on June 15th following EGM approval. 2. OND are making an assumption of what the target share price will be on June 15th, in order to make this calculation (i.e. 17.5m / 0.6957). At current prices, the combined entity will be valued at £25m! 3. There is a provision to issue a maximum of 45m shares...this is available presumably for further share placements after the first 12months working capital runs out and/or in case the target share price at the time of the placement drifts lower than the current calculation. So the next question is what is the expected placement price for the shares £1, £1.5 (as someone suggested last week), 75p....who knows (besides the MMs managing them to their final destination June 15th)....but £1 so far seems to be the center of gravity for this stock. All IMO, DYOR, but interested to hear other views! |
Posted at 21/5/2004 09:34 by logica2me Artful dodgerThere is another cash shell which I am aware of, with a current market capitalisation slightly higher than OND prior to their surge. I'm fully expecting similar returns on that investment too. Joe |
Posted at 21/5/2004 08:24 by topnotch Just to remind you of one of the more 'informative' postings by a 'learned' traders/investors on this BBS dell314 - 12 Jan'04 - 09:33 ..... which rather suggests you lot aren't going to be getting your 50p a share that this was suspended at... AND NOW A POSTING BY TOPPY!!!!!!!! topnotch - 15 Jan'04 - 09:35 ...this would put the share price at around £1 which is what I have been lead to believe would be the true value for OND. LOLLOLLOLLOLLOLLOLLO Those who know lead - those who don't..... TopNotch |
Posted at 18/5/2004 20:28 by andy2000 Could do with afew quid actually, FOR SALE OND shares 55p ono. Hardly used , owned since new, Needs a bit of work, but still just about going. Might exchange for alternative investment, all serious offers considered! ctc Andy, OND bb, ADVFN, UK |
Posted at 16/1/2004 15:38 by dell314 topnotch - I doubt if you will get a copy of PME's performance as they had their fun and games after suspension. OND had theirs before.I'd be very surprised if any of the deals for the three companies(OND,VOS,PM Don't forget that K&W doubled their money roughly with OND, although it appears that some of their cronies did better. K&W effectively sold out at 10p per share. The rise afterwards was hopefuls buying in on rumours. Probably the same people who buy lottery tickets IMO. I think we're all waiting to find out if K&W are shrewd businessmen or merely sharp operators... Rgds dell All IMO DYOR etc. |
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