Saietta Share Discussion Threads

[owenski] 04/3/2024 08:42

It's a shame, possibility that people will lose jobs here and I feel for them.

I do not feel sorry for the ramping gambling bellends that pitched up here when the writing was on the wall, posting things that implied upside. Idiots.

[casholaa] 04/3/2024 08:27

Learning experience, free for some, expensive for others.

[pre] 04/3/2024 08:19

Writing was on the wall, at least the company did warn in advance about the risk of administration and even gave an estimated timeline. So it was all there and you take your chances.

[dave2608] 04/3/2024 08:12

There's an optimist on the LSE board. Still thinks they will get a return on their self confessed gamble. If carlsberg did optimists.

Here's the post:

I think we will return it’s a bit drastic considering; to intend to appoint administrators right now when they have funds until the end of March and may get the receipts in this month too, they could be offered finance and or sale of parts of the business from today. It’s suspended voluntarily remember. It’s not over yet despite everyone assuming! There’s too much money and very little stock here so even if they sell the entire business with little debt (they may still make arrangements for this) we will get ££’s. I’d say watch this space! I think our gamble is ours and it will still return more to us than we’ve invested at these levels!The point of voluntary administration is to reorganise and have the time and space to do so. The time pressure is why they’ve chosen this route. The administrators may well find a route out with finance this month. The other big buyers did so with a calculated risk view and having been in this situation I’ve benefited from this before. We may even see some form of RTO. even if all assets sold and any remaining acting as a cash shell. The fat lady hasn’t even got her dress on yet, so watch this space !IMHO DYOR

[casholaa] 04/3/2024 08:10

I have no idea how this will eventually resolve but, it looks like those that did not give in to fomo may have done well to have done so. I am pleased that I did not succumb to the fomo. I do wonder whether the shareholders may still receive something???

[countbasie1] 04/3/2024 07:43

F*C* All investigation

[coscos] 04/3/2024 07:43

Finally, TG gives us an honest statement about the company. What a complete w*nker he's been throughout..

[tomboyb] 04/3/2024 07:36

FCA? -

LOL!

[pugugly] 04/3/2024 07:35

Will the FCA now start an investigation as to the identity of SouthernSong and whether he/she/it was in breach of any of the regulations? .

[mustau] 04/3/2024 07:29

Shameful both by both bod and certain experts on Vox- over promotion and control feed were enough signs to out.

[the codger] 04/3/2024 07:24

I will hold my hand up and admit I got this wrong and additionally lost money.
I gambled and lost.no more AIM gambling.

[sbb1x] 04/3/2024 07:20

Time to delete the ticker

[pauliewonder] 04/3/2024 07:20

Agree. This has been poorly managed from day 1. Directors are a disgrace and should take full responsibility for the loss of investors hard earned money. Shambolic.

[slicethepie] 04/3/2024 07:11

100% agree directors need to be struck off and corp advisors need investigating

[beatme1] 04/3/2024 07:10

Suspension it is then

[bones698] 04/3/2024 07:06

You were all told what was coming. Anyone who bought in trying to pick the bottom deserves to lose money tbh. This crashed way too fast and wa dinky ever going to end up in admin. Rrlaly poorly ran company and the directors and ceo should never get a job running a company again

bones698. 1 Mar '24 - 10:00 - 1878 of 1940 Edit
0 4 0
Admin here no point talking any further

[tomboyb] 04/3/2024 07:05

Its over -

[tomboyb] 04/3/2024 07:04

4 March 2024

Saietta Group Plc

("Saietta", the "Company" or the "Group")



Termination of Strategic Review and Intention to Appoint Administrators



Further to the announcement on 23 February 2024 regarding a formal review of the strategic options available to the Company (the "Strategic Review"), Saietta regrets to announce that it is not in a position to confirm a buyer for the business and has failed to secure additional funding of the scale and form required for ongoing business stability. The Board of Directors has therefore regrettably ended the Strategic Review and resolved to appoint administrators. As a consequence of the above, the formal sale process, as defined in the Takeover Code, has been terminated and the Company has ceased to be in an "offer period".



The Company has filed a notice of appointment of administrator at the court and a further announcement will be made in due course once the appointment has become effective.



Consequently, the Company has requested a suspension in the trading of its ordinary shares on AIM, which will become effective from 7 30 a.m. today.



Tony Gott, Chairman of Saietta, said: "While we can confirm we've had some genuine interest, at present we do not have a proposal that provides the necessary liquidity in the time we have available, following the Company's commercial update of 13th February and the subsequent market reaction.

Despite all other aspects of the business remaining in progress and following major restructuring throughout the business over the last 12 months we were unable to provide the capital required, on a timely basis, to complete the journey to bring the Group to a self-financing position.

Discussions with interested parties will continue in administration, as we believe that the technologies developed by Saietta, as endorsed by our customers may yet find a route to finally achieve our mission, to help clean up the air in the world's major cities.

On behalf of the Board I express to our staff, shareholders and all other affected stakeholders our deepest regret that we are having to take the very difficult decision to appoint administrators.

[zen12] 01/3/2024 17:29

Yes this was reported yesterday and main reason why this fell to 0.3p - to its lowest.

[aja2] 01/3/2024 16:33

Another company partly out on the 23rd, but only released this afternoon. Strange that there's such a delay for it to show up on ADVFN.

[the codger] 01/3/2024 16:30

Blah blah blah

[aja2] 01/3/2024 16:29

The RNS said they may start planning for administration at the end of this week if they exhausted the other options, not that administration would occur today.

[the codger] 01/3/2024 16:26

It's all over,blah blah blah, pre pack administration, blah blah blah zzzzz