Post by GentlemansFamilyFinances on Feb 23, 2021 22:30:02 GMT
My rump of a holding in the old company has been converted into two dozen or so warrant shares in a new company which is some sort of challenger bike. Imagine my excitement when I checked how much each share trades at when I checked the share price of the stock named the same way? I'm rich I thought! £5.00 a share would mean I could maybe now afford a Claude Butler bike (second hand of course). Sadly, a bit of research determined that the warrants are for future shares in a separate business.
Overall, not a bad outcome from what has gone on with this project. In some ways it might be a good invesment now as we've had to swallow the write-down in value and there's always the promises of future riches and this price we got is the price of an enterprise that is worth (or valued at) hundreds of millions of pounds.
Still, I'm not surprised that people are trying to sell but as always most sellers are too greedy - why would I want to pay around £1/share for shares when there's people prepared to accept a fraction of that and the equity price was around 25p a share.
I'm holding mine (since I doubt that there's many buyers out there)
Last Edit: Feb 26, 2021 23:44:24 GMT by Ton ⓉⓞⓃ: To add "Abu" to the title
Long time investor in P2P Lending - I've seen the good, the bad and the ugly! I have a blog that you can have a look at - covers personal finance, family life and our family journey towards FIRE. gentlemansfamilyfinances.com/ My blog contains referral links which you should be aware of.