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It's hit my buy point so I thought I would pick up a few. However, I can't currently get a quote.
Looks like I'm not the only one interested at these prices.
It will only let me buy 5k.
However things look (with the MMs dropping the SP) the market is very very tight. I suspect I'm not the only one interested at 15p - 16p, especially when even a low bid will come in at least double, possibly triple that. My guess is that many people think like me that JM's price is probably about the floor at this point in time. Another fund raising and it could drop, but there are a lot of ifs and buts on the way to a lower market price.
It's a difficult call if you already have a lump in Condor, but 15 - 16p really is a giveaway price. Risky, yes, but a lot less risky that 30, 40 or 50p.
Am I right in thinking that if Jim did want to take it private, he'd have to pay off the other shareholders at the equivalent to the highest share price of the last 12 months? Or is that wishful thinking?
If he was forced to take it private by taking over 30% without a waiver from the CMA then he'd be required to make an offer for the remaining shares, and the minimum he could offer would be the highest he has paid in the past 12 months (not the highest paid by anyone in that time).
If he chooses to make an offer for the remaining shares, he can do so at whatever price he wishes. If the board choose to put his offer to a shareholder vote, obviously he stands a higher chance if the price his higher.
That hopefully clarifies those rules that are often misunderstood and misquote. But, of course, that is entirely theoretical, since there are no hints there is any plan other than to find a buyer for La India as Mark has explained on numerous occasions.
This 'taking it private' is yet another rabbit hole that Slim seems to want everyone to jump in to.
Very funny, Slim. I can see you p..sing your sides at your keyboard as one or two people take it seriously.
There is no evidence he is interested in taking 100% and plenty suggesting he is now ready for an exit.
The volume today was 395000 which means just £50000 has changed hands. This is very low volume but very high in CNR’s recent history. It is scandalous that the MM’s in their desperation to get some trading in this share have dropped it 7.5%.
There is no reason to believe there is a problem with the sale process.
But let’s remember the reason this sales process is being conducted as an asset sale. The board were clear from the start that the share price was so far removed from the value of Condor on any normal industry metric that they could not go for a share sale. This has only become more apparent as time has passed and the sp has fallen further.
The volumes are so low because most investors have taken their positions and are awaiting the completion of the sale process, which could become a share sale once the proper value is crystallised.
The sp at this point is totally irrelevant and we must await the completion of the sale process. It is impressive that there are no leaks about progress and those of us with any understanding of commercial negotiations know that any attempt at a running commentary by Mark would be counterproductive.
Ddd, my immediate concern is that the sp is now at the level of 🍉 15 p warrants. We will need cash soon and 🍉 incentive to support the company’s needs has all but gone and likely to be in deficit at this rate. Buying now should surely give a decent reward if a deal is forthcoming
Ing but obviously the market isn’t buying it. Fortune may well favour the brave. The current share price really isn’t irrelevant, as we may find if there is need for another keep the lights on placing. and how do you know there are no leaks ? The share price reflects a distressed seller to any possible investors. The low sp reflects the ammount of time taken with no sign so far after a year of a sale and cash dwindling. Better come out with some news soon that’s for sure. Good luck with the bottom feeding, I may have a last gasp if crypto adds some more gains just for the hell of it.
Good luck
888 and ddd.
One thing to bear in mind is that if a large placing is needed here 🍉 will be in danger of exceeding his27% takeover limit so maybe we can’t rely on his heavy involvement. Baring in mind the last raise for the first time failed to be fully subscribed, another could be disastrous.
I have just bought another trench of shares. This price does not see to reflect value on any basis
Sorry “tranche”
That’ll be 15p or soon will be.
Good luck Sakura. If there is a deal heading then todays a good buy day .
Yes just over £25m market cap for a company that has a $400m+ NPV and expected non binding offers well over this. The lack of news from MC i suspect is more about the closeness of a deal so it has been known in the past that keeps a very tight ship about deals. You would expect this month something must get to binding as we reach the 1 year point. Lots of value but like almost all shares on AIM grossly undervalued and illiquid so with fewer investors with spare cash even if investors want to buy they are not able to. Next week could be a new beginning in understanding what binding offer we will secure but certainly hope it is this month.