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Read about Dave King proposal to sell his shares to Club 1872.
Had to laugh at all the misinformation.
Had to laugh at all the misinformation.
#1 King: " I provided opportunities for Club 1872 to participate in every share issue that was undertaken"
C1872 put up funds & received shares in only 2 of the last 7 share allotments.
C1872 put up funds & received shares in only 2 of the last 7 share allotments.
#2 King: "My all-in cost was 23.7p/share"
Nonsense: He bought his 1st 11.9m shares on AIM between 18-20p on Jan 2 2015. Since then he loaned £10.96m which converted to 54.8m shares at 20p.
His "all-in" is 20p, or a little less.
Nonsense: He bought his 1st 11.9m shares on AIM between 18-20p on Jan 2 2015. Since then he loaned £10.96m which converted to 54.8m shares at 20p.
His "all-in" is 20p, or a little less.
#3 If completed in 3 years, C1872 will own 25.1% of RIFC.
ONLY IF C1872 comes up w/£13.3m (doubtful enough) AND NO OTHER SHARES ARE ISSUED.
Currently £1.5m loans are unconverted & the Annual Report expects £23.2m funding next 2 years.
Will NONE of those funds be converted?
ONLY IF C1872 comes up w/£13.3m (doubtful enough) AND NO OTHER SHARES ARE ISSUED.
Currently £1.5m loans are unconverted & the Annual Report expects £23.2m funding next 2 years.
Will NONE of those funds be converted?
#4 Real value of RIFC is 50p/shr.
That would value RIFC at £164m. At de-listing, it was valued at £28m. Since then, shares have quadrupled, club has survived on £49m investor funding & incurred £57m losses. In what universe does that increase value 6x?
That would value RIFC at £164m. At de-listing, it was valued at £28m. Since then, shares have quadrupled, club has survived on £49m investor funding & incurred £57m losses. In what universe does that increase value 6x?
I should've been clear : NUMBER of RIFC shares have quadrupled (81.5m to 327m). In the real world, a 1-for-4 reverse split results in share price reduced by a factor of 4.
