I hadn't realised how close to going bankrupt they were. Now the financing details are known the dilution is not a dissater and shaerholders have the option to buy some sharesif they want at 20.75p. The company will be debt free and they have one property left to sell which should be done soon at about £800k. Expenses should fall and the profits should be reliable at about £2million. This will be on an undemanding rating and with some growth they should be worth closer to 40p in the next 2 years. The downside should be very limited from here and this is now a good risk/reward. also noone is following stock - with just a bit of interest this could get rerated in the next 6 months.
Any shareholders that want to buy at this level need to contact Ivor Barton (co sec) before 7th July.
seemed overdue to me - spoke to company, not sure which day but will be next week.
results are likely to uninspiring and there will be loses for the full year from from the concrete - all about the statement which should focus on the ongoing businesses that should throw off profits in excess of £2mill per annum. balance sheet should be stable - don't be surprised if they try and raise some cash to get rid of borrowing.
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