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...I'm guessing we'd have to do a CCAP anyway; even if a target had been identified immediately after (or shortly before) October's RNS, I doubt we'd have time to complete before 7th Jan, so would likely be looking at cancellation while deal completed followed by relisting.
Genuinely not sure if I'd rather see that, or an attempt to raise and relist as an investment vehicle. The latter seems in ways less risky, while at this point there'd likely still be at least some interest for it.
What are peoples thoughts? Pretty sure the only thing we can agree nobody wants to see at this point is a complete fold!
I think a cancellation is the most likely / near certainty here. I don’t care as long as they get a decent enough RTO progressed and sealed by the Spring and then re-list at a price equivalent to 2p+. Be nice to be kept informed on a regular basis too once the board can say something. I think the only chance of this being an investment vehicle is if there’s a late failure of the RTO being worked on now. But I think there’s more chance of it folding if that happens owing to the timeframes involved?
Continues to be a rather frustrating waiting game of trust.... But I remain hopeful of a brighter 2022.
Looking more closely at the AGM motions it appears they want people to vote on the issuance of 50% more shares, but worded in the usual woolly RNS way...
Special Business (ii) resolution they're asking for permission to grant upto 50% of share capital. 225 million shares.
As ever, no problem with that if it’s raising for good reason and SP isn’t too discounted etc
Thats an if and and if !!!
Agree with you Africanskies.
Having this authority would give them some flexibility in structuring a new deal, and being able to move faster IMO. I think it's a positive step given where we are in the timetable.
It is indeed, Mr Cautious.
But I’m not being a negferret....
Cheers Don.
That’s my hunch too.
Well proof of the pudding as they say we are all judged by our results and its now different for these guys - fingers crossed..
Not sure they’ve had enough time to do a deal. Suspect it’ll take months yet. But they’ve had time to target and start a deal. All the processing etc will see us into Q2 before re-list I reckon.
Hopefully RNS next week after Thursday AGM?
An “All resolutions passed at AGM” RNS early Thursday afternoon ...?
End.
Next RNS 6 January?!
Well there you have it
So no RTO. How does this hospitality transaction work.
Can anyone breakdown what this means for our investment and money?
Feel your pain, Boom.
I’m feeling same way. They always promise ‘shareholders best interests “ but this seems like a shaft ing ...
I can’t understand Directors logic at all at this stage.
The only silver lining is that we get something back. Wasn’t expecting much after the last RNS. Ultimately, they have failed to deliver but that was always the risk with RTO’s. Gla
The only other silver lining here is it show up the rampers that were here a couple of months ago spouting 'this will multibag' etc etc for the people they really are !
It might treble in a month of opening on AQSE! It’s so volatile anything can happen still.
Just hope the deal is sealed and it lists. At least that way, we get something back and the potential for gains remains. We all knew this was a punt based on Directors reputation.
Indeed. Greg25 where are you now?
Don't worry lads the hospitality business is going to £2
What happens if the deal doesn't seal and we don't invest?
Do we have much choice ?
Hmm, not exactly the news we have waited for.
Trading in AQSE requires you to call your broker by phone and put a sell or buy dealing, which is almost instant, but you will pay a higher fee for the transaction. I am at HL, I believe the fee is between 20-50 pounds.
So once we get our shares moved into AQSE I believe we will be able to trade them calling our broker.
They should have gone for an RTO with PPG, they still haven't found anyone to RTO with either.
... and I'm in both.