I have finally given up on this share, I have been invested here since 2011 and have just had enough. The share had potential, but the corruption in both the company and country has seen my holding drop in value for £10k to £1k and I might as well take that out before I lose the lot. This was by far the worst performing share in my portfolio.
I find it strange why anyone would want to take up the open offer when you could have purchased as many as you wanted for less on the open market
No point in buying more unless you can get them at a sufficient discount to sell them again at a profit, I have been in VOG for years and there is no way I would add to my holding other than a straight buy and sell. Jam today seems the company's policy, with current cash burn there will probably be another placing next year to keep the directors in the salaries they have become accustomed too.
I don't think the share price will do anything positive today after the RNS, increase in borrowing from $10million to £20million, reduction in cash from $10million to $7million, lower sales than last quarter. We have all been told how well the company is going to do, but the only thing that really makes a difference is how profitable you are today, not what might be in years to come.
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