Tomco Energy Share Discussion Threads

[goulding1215] 26/4/2023 14:26

What’s L2 Rmart? Ty

[rmart] 26/4/2023 14:01

sales at .25 now ! Ridiculous that the company have been able to get away with over 13 months of 'finalising due diligence' 'preffered funding' 'funders want to complete by easter, last easter !'

yet they can still get their hands on another £1m, what have those funders been told which we havent? Or are they as daft as the rest of us?

[the diddymen] 26/4/2023 11:14

....and in comes a party pooper. Still small volumes but unless there is substantial news the latest convertible loan notes will swamp the support price (not helped by 90m shares held by Spreadex which could unwind at any time).

[bungeetrader] 26/4/2023 11:03

A new low here.......
So, so disappointing.

[the diddymen] 26/4/2023 10:31

£2k traded so far today - how much are Novum hoping to off-load?

[lopodop] 26/4/2023 08:13

Groat is probably more interested in his other AIM firm - HARL - where the price appears to be lifting at this time.

And in which he has recently bought equity.

[the diddymen] 26/4/2023 07:30

What puzzled me (17010)

A continuation of the theme why draw down early?

A reason to draw down early is that TOM know that their off-shored news is going to be late, and rather than 'stuff' Novum (the financier of their life styles) in June, they have drawn down early to give Novum a chance of off loading the shares before the market becomes aware of the lack of news.

Next news the roll over, or Spreadex dropping through 3%. Not sure which will come first.

[the diddymen] 25/4/2023 18:59

Wilson I think that we are singing from the same hymn sheet if that was directed at me!

[the diddymen] 25/4/2023 18:58

Goulding1215 (aka Mixi) today's RNS may be relevant but only in the context of the draw down. At today's prices there are another 100m shares on the market if Novum chose to convert. The RNS is not explicit but it seems appropriate that disposal will be for Novum to call.

An extra 100m shares could kebab the market, and that brings you back to the relevance of today's RNS. Share prices are a function of supply and demand and when an extra 100m turn up on the market the price is likely to go down. With the gearing on a long position that could become very painful very quickly. You could therefore have another 4% of shares on the market as the longs are closed down (to supplement the extra 100m already poised to join the market).

Luckily Mixi you have me on filter so you will hopefully be none the wiser!

[the diddymen] 25/4/2023 18:45

Fenners, that is my reading.

[fenners66] 25/4/2023 18:29

Volume weighted ave according to ADVFN currently 0.33869

A conversion at this price would mean 0.288 with a current market bid at 0.26 or 0.255 maybe
so a loss.

BUT

"via a convertible loan note instrument and associated subscription and put option agreement"

Key phrase , never explained by TOM is "put option agreement"

Now, IF , that means they can pre-sell , ie all they can sell from the date of loan and choose to convert later , then they can flood the market , trash the price , get it as low as they can , then convert at a 15% discount.

In essence if I understand that correctly they can create their own profit . The only losers being.....
the shareholders , especially those that remain as shareholders, all of course have the choice to sell.

So anyone know the exact terms of that "put option agreement" ?

[goulding1215] 25/4/2023 18:19

I don’t know what the problem is Rmart.someone has closed a spreadbet with spreaex, a couple of days ago, and gone below 4%. The holding rns and convertible loan are not related.

Damac could explain better than me.

[wilson2] 25/4/2023 18:04

One person? And that's good enough for you!!

[rmart] 25/4/2023 17:47

yes, must confess i got that wrong. The note holder can convert the 250k plus any interest into shares at any time before March 2024 at 15% discount. I wrongly assumed they would have done it when the cash was drawn down.

worse than I thought.

[the diddymen] 25/4/2023 17:09

Just thought I would take a peek at LSE. This poster has just sold SYME to buy into TOM. What a glutton for punishment.


"Well, I've just sold my SYME at a big loss to buy nearly 1m here, seemed rude not to at .272.
Ave now .305.
Fingers crossed!"

[the diddymen] 25/4/2023 17:01

I think that Reichy is wrong. TOM exercise the draw down. That creates the convertible loan and it is for Novum to decide when the loan is converted. They will have pre-sold as much as possible of the first drawdown, but the quantity is a function of the average 15 day price. I would agree that there will be plenty of stock around and that is likely to have an impact on the share price.

No surprises here really.

[vauch] 25/4/2023 16:51

Well Well what a f'ing disaster.

[vauch] 25/4/2023 16:36

Or it will be falsely pumped to let them out

[rmart] 25/4/2023 16:13

about 90m shares to hit the market tomorrow. Obviously some have been pre sold but what will happen? I think the conversion price will be around 0.27 so there is no profit going to be in it for the holders. Maybe they will have to hold and hope for some news like the rest of holders?

[the diddymen] 25/4/2023 15:58

This is looking well managed at the moment but the c£36k traded is buttons and at what point does Novum cut loose?

[the diddymen] 25/4/2023 14:52

Still £250k of longs open. They will have taken a bit of a bath.

[the diddymen] 25/4/2023 14:23

Fenners the price support is driven by existing shareholders. The key is that few shareholders sell, while some have continued to buy. Every time there is a dilution Novum essentially generate the shares which they sell on to shareholders, historically making 15%+ each time. The existing shareholders buy up the 'cheap as chips' shares, in a way creating a micro market of price support.

Novum could yet end up with an unsecured loan on this one unless TOM can generate some news to encourage the buyers back into the market, and that presumably is the risk for Novum.

While it is pretty easy for shareholders to sit on their hands, keeping the narrative fresh to ensure the Novum shares are off loaded is going to be difficult.

As ever with narrative companies the final chapter tends to be longer than you think!

[fenners66] 25/4/2023 12:14

They will not have the loan for long - converted to shares I think with the Put option -sold before they buy if that is the case....

Provided I guess that they can find some more gamblers to sell to.

[fenners66] 25/4/2023 11:13

Is that very close to an all time low ?