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.
I dont think they should be paying any bonuses until the company makes a net profit, they already earn too much for a loss making company
BWLN share holders have managed to get rid of their board 'As a consequence of the business conducted at the General Meeting, Kevin Hart, Kerry Crawford, John Martin, Tim Sullivan and Philip Tracy ceased office as Directors with immediate effect.' This means that the deal for Bomono is up for renegotiation. it will be interesting to see how this plays out.
He has never hit any deadline he has set and takes far too much money out of the company
What I find strange here is that BLVN reportedly have $97 in cash left, VOG market Cap is about $80 so why didn't BLVN just buy VOG? they could have got it for $60 before rumours pushed the share price up 20% last couple of weeks.