my post 2 above makes my own views clear. Current trading and prospects are well in advance of the point almost 2 years ago when the court proceedings began. At that point the price was more than double current levels. For 2 years there has been a major question mark over the whole company. That is now removed. The price rise has to now reflect BOTH the removal of that uncertainty AND the pricing in of improved trading and prospects over that 2 year period.
With around 60M shares in issue, 6p would give a Market Cap of £3.6m - an absolute giveaway now, IMO. At current price the company is valued at £7m. I believe that the Saudi contract alone underpins a good portion of that.
Just a month ago senior managers opted (voluntarily) to take 5 year warrants on shares exerciseable at 12p. That now looks a shrewd move, IMO, and helps to indicate what they think....
A total of 4.83million warrants exercisable at 12 pence per 1 pence ordinary
share have been issued and have been apportioned in the following way:
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