Surface Transforms Share Discussion Threads

[bones] 01/5/2024 23:44

To be fair, IM is unlikely to be a high earner in relative terms and she stuck £10k @ 10p in on the Nov23 raise after just joining so is probably a bit sore herself!

What I definitely don’t want to see is any resetting of the targets of the LTIP!

[bagpuss67] 01/5/2024 23:32

Insiders have wiped out the equity. As I said I won't let it lie. Although I know the FCA won't do anything I and others will ask them to look trading. Forecasts so unreliable they couldnt raise debt?

[bagpuss67] 01/5/2024 23:30

Yep. Shocking. Worst possible outcome. And the fact IM takes £3.5k suggests insolvency is a real possibility. This is awful.

[bones] 01/5/2024 22:21

Microscope, long time no hear! No need to worry on my account. I did very well selling these after the 2019-21 run up realising 73p average but sadly later reinvested in the aftermath of their 40p raise when it seemed that would be the last one. Fat chance! Given it all back therefore.

We are now in crying wolf country as no one now believes this raise will get them over the operational hump. This is now an act of faith.

[taperkick] 01/5/2024 22:10

£3.5k for Maddock. I think it's customary in these situations to say "you go girl!".

[supernumerary] 01/5/2024 21:16

'If the alternative is to go running to the City, shouting 'please can you rape me, I'm utterly defenceless' then that is certainly what will happen.'

And so it came to pass...

[fevertreeman] 01/5/2024 20:00

Clearly Maddocks has clearly 'left the building'! Why else would she allow a 66pc placing discount w/o pushing hard back against the advisers. Reason being of course that she is as complicit as Johnson in holding fast to 23m revs before being forced to put out a realistic range. That failure to stand up to Johnson is now haveing real-world consequences.

[geko5trade] 01/5/2024 19:59

Ironic that the penultimate announcement was titled 'worst case scenario...'. Not sure what to file this under, ...even worse than worst case scenario...

[geko5trade] 01/5/2024 19:53

Who exactly negotiated a 66% discount? Were they marched up to the open window on the 15th floor and made an offer...

[fevertreeman] 01/5/2024 19:36

Pinkfoot rates the Ops guy...ffs! He isn't on the Board, Maddocks is subscribing for £3,500 pound's worth and the utterly useless Johnson remains as CEO.

Not a word about management changes, and no expression in the document about their own failings!!

[geko5trade] 01/5/2024 19:21

Well I didn't see that coming! Had assumed it would be close to 3p with a combined raising, some kind of loan facility etc. Last chance saloon I guess...

[radgimus] 01/5/2024 19:08

Highly unlikely. They've spent umpteen years trying to get it right so I fail to see what difference another couple of months will make. Total farce.

[fevertreeman] 01/5/2024 19:03

Pinkfoot - so you think that having raised at 10p that a 1p placing shows that Zeus and Cavendish have done best efforts or endeavours. Who are you kidding!

Where are the management changes??????? No one in their right mind believes anymore that Johson should be CEO

[pinkfoot2] 01/5/2024 18:56

There was a lot of interest at a higher number but not enough to fill

[bones] 01/5/2024 18:54

Pinkfoot, in genuine terms (this is a genuine question), what is it about “the ops guy” that makes a difference here? How assured / reassured are you that the operations will accelerate in output without another short term cash crunch from here on in. They must have made a point of this.
Thank you.

[fevertreeman] 01/5/2024 18:54

What an absolute shambles. Bundred Johnson, and lets admit it now...Maddocks...have comprehensively driven this into the ground.....24p in November ; a raise at 10p , and now a raise at 1p...ffs

[jerarnie1] 01/5/2024 18:48

And this will open at ......?

[supernumerary] 01/5/2024 18:47

So they're screwing their shareholders once again. This company is now officially uninvestable, at least by the rational. Bundred is finally going, Johnson is a demonstrably useless CEO, and the FD has presided over two shameful fund raisings. How can anyone possibly expect the situation to improve?

This (under 'Open Offer') made me laugh out loud:

'preference is likely to be given to Qualifying Shareholders with smaller shareholdings (who historically may have had less opportunity to participate in placings conducted by the Company)'

Even now, they haven't cottoned on that the people who participated least, did best!

Absolutely nothing in that prospectus to suggest that anything material has changed, so it's now one to put aside, and then dump as and when the opportunity presents itself, hoping that some competent outfit will take them out before they drive it into the ground. At 2p?

[swiss paul] 01/5/2024 18:44

and the Toffeblue nose re-appears - where you been ? Strangely quiet lately..

As an aside 2p would have been more malleable and I think they would have got away with it.

1p - signals begging bowl

[bones] 01/5/2024 18:17

So there’ll be about a billion shares in issue when the dust settles.
Question that remains is can we trust that the operations will finally gain escape velocity before the next cash crisis hits?

[pinkfoot2] 01/5/2024 17:59

All I can say is fill your boots-I have. Rotten market and poor performance but I rate the ops guy and Bundred is going

[toffeeman] 01/5/2024 17:52

Ha 1p it is!

[eezymunny] 01/5/2024 17:40

www.voxmarkets.co.uk/rns/announcement/3ddf38a8-fcd0-4718-82a1-1b790496c5b2/

Another firm rogering.

Never forget the old expression - "show me the money". Profits and cash generation. A few mugs and rampers on here getting what they deserve again IMO....