Wasabi Energy Share Discussion Threads

[aughton 3] 30/12/2013 08:49

Wasabi gone , stinks were never going to get that away why leave it until last minute , all volume in oz before the rights .... , cant believe John Byrne will this happen his reputation on the line

[ivor hunch] 29/12/2013 11:35

I have proposed WAS on CR's '2014 Stocks to Double' - look under EPIC 100% above. Some very interesting tips/suggestions can be found here - some good research by posters on these boards, well worth a look.
Ivor

[diggerking] 28/12/2013 15:34

Ivor,surely there is too much going on in the company,for it to fall,at what appears to be, one of the last hurdles.

I hope that with all the activity,there should be many interested parties.

After all,it is not a lot of money,considering what they would be getting,after debts are paid off.

It is said,one should not fall in love with a share.Unfortunately, I did.

And,still am.......I hope it is not unrequited.

Brian.

[ivor hunch] 27/12/2013 16:23

Thanks Brian. You are correct that the directors cannot take up any unissued rights shares ie the shortfall, but they can take up their entitlement which is 419 million shares. The total shares taken up will therefore be nearer 15% than 6%. What's more significant is that the shortfall can be taken up by outside investors:
'The directors are in discussion with non-related 3rd parties with regard to underwriting the offer'.
The directors have three months in which to place the shortfall.
It seems to me that the directors knew long before issuing the documents that the rights would not be taken up by existing shareholders and were already placing the shortfall elsewhere.
Maybe we should speculate about which 3rd parties might be interested in taking substantial stakes in WAS.
Ivor

[diggerking] 27/12/2013 14:18

Ivor,your theory is probably better than the alternative.

I must say that sentence about control of the company,has been haunting me.

There was certainly no incentive to partake by adding further funds,as the price was at some time below the rights issue price.

An earlier post hinted of a leaky ship in Oz,which would also tie in with your conspiracy.

The only drawback to your hypothesis,is the directors are not allowed to take up any shortfall....well according to the document.

I'm very heavily loaded up here,so I certainly hope something positive occurs on Jan.3rd.

Good luck to all holders and I hope as far as WAS is concerned,it is a prosperous New Year.

Brian.

[ivor hunch] 27/12/2013 10:01

I reckon the whole rights issue scheme has been a way for the directors to increase their stake in the company and to bring in new investors. The directors must have known that existing shareholders would be very reluctant to take up the rights issue a. because of the dramatic fall in the share price this year and b. because the rights were pitched at roughly the same price as the shares. So why go for a rights issue that was doomed to failure?
Because the directors wanted to invest more and have new external investors who want in. Notice that when the company announced the results of the rights issue they deliberately ignored the directors' holdings. The RNS states that only 242.9 million shares were taken up representing 6.5% of the issued shares. But what happened to the 419 million shares held by the directors? John Bryne holds 351 million the rest being held by other directors. It's fairly obvious that the directors are going to subscribe for much more than their entitlement - they have the right to take up unsold rights.
Notice that the rights issue document hints that the results could include a change of ownership of the company - ie that existing directors and outside investors could take control of the company by taking up unsold rights.
Notice also the lack of positive news in the weeks before and after the rights. Several people noticed that a new website had been put up briefly before being taken down. This website pointed towards the new Kalina Cycle projects coming on line in the New Year. Withholding (quite legally) good news until after the rights issue would ensure that new investors at .25p would get a substantial gain when the news is released.
So my belief is that the whole rights issue has been engineered to quickly and effectively (and legally) bring in new capital, just at a time when the company is turning the corner.
We'll know the truth on January 3rd.
Ivor

[daithedeath] 27/12/2013 07:21

This was 14/12/13

-.com

[daithedeath] 24/12/2013 16:55

Happy Christmas and all the best for 2014 HO HO bloody HO

[peteark] 24/12/2013 11:15

liam wilson 23 Dec'13 - 08:12 - 1121 of 1135 0 0

lol big news coming and the new website is ready to rocknroll


The big news coming is you will soon be able to use your share certificate for toilet paper

[vyke82] 24/12/2013 10:12

The take up was shockingly low.

[induna123] 23/12/2013 15:32

flashheart
23 Dec'13 - 12:56 - 1130 of 1132 0 0

Although not ideal I know, what's to stop them just implementing a normal placing at a discount to cover any shortfall. Further dilution but at least keeps things trading.

So they ask a load of people to buy shares at 0.225p and then ask somebody else to make up the shortfall buy taking on shares at an even lower price? How would that make those who just bought at 0.225 feel? Ripped off perhaps?

They just didn't find demand at that price. There ws no appetite at that price. Like I said hardly surprising seeing the share price performance over the last 12 months has been dreadful. Why throw good money after bad?

[vyke82] 23/12/2013 13:14

At least they decided to suspend this because it could have been a disaster prob trading as low as .10p and ZakMir would have had to come up with an explanation.

[aughton 3] 23/12/2013 12:57

Digger you are right but look at the volume in oz leading upto the offer it stinks

[flashheart] 23/12/2013 12:56

Although not ideal I know, what's to stop them just implementing a normal placing at a discount to cover any shortfall. Further dilution but at least keeps things trading.

[diggerking] 23/12/2013 12:53

vyke82,by the time the Rights Issue was announced,the price was not at any discount,yet alone a deep one.

Had it been so, I would have taken up mine.

I think that was the reason the issue failed.

[aughton 3] 23/12/2013 12:19

Got to be honest they were never going to get 100% they must have known that

[vyke82] 23/12/2013 12:15

Who cares about the new website if there is no money for the business. Shares at deep discount found no demand.

[aughton 3] 23/12/2013 11:34

You seem to very sure I am not

[liam wilson] 23/12/2013 10:09

fantastic new year ahead brand new website is amazing by the way and so is the news thats coming all will be revealed 3rd jan.Yeehaa pity you never bought before suspension

[jwoolley] 23/12/2013 10:00

Seems to be a fair bit of panic across various boards.....as a little reminder...

"To the extent that the Offer is not fully subscribed, the Company is in discussions with the secured loan note holders in relation to an extension of the term of the note or the participation of the noteholders as Underwriters to the Offer."

Part of this loan payoff is also to John....he will not let this go under.

They just need to sort out where the money is going now and who is coming up with the shortfall and this now, will be different to the RNS offer made on the 27th....therefore to be suspended to get this sorted out.

Try not to panic too much folks.....the fat lady is not singing just yet!!!

[vyke82] 23/12/2013 08:55

The company can be forced into liquidation or lose its Turkish option, no wonder why they delayed with announcement of open offer

[knigel] 23/12/2013 08:15

Can u actually read the rns?

[liam wilson] 23/12/2013 08:12

lol big news coming and the new website is ready to rocknroll