I would not say the Bidtimes investment is irrelevant, at c. £167k (currently sitting on a paper loss of c. £113k) it is clearly material given interim PAT of only £150k. As the full year results are expected to be depressed due to the investment in the EBD – it should not be ignored.
However, it is not just this investment in isolation that you need to consider, it is also the possibility that there is nothing to stop the directors wasting further cash of the shareholders on other apparently “related” investments – If Bidtimes was not run by RS would MRD have made the investment – imo no.
As for info in the public domain suggesting the shares are lowly valued, it is the uncertainty as regards info which is not in the public domain which is why the shares are currently at the rating they are. Any correction will depend very much on the next news (i.e. results) to be made public – and as for the direction the shares will take when any announcement is made, only those few already in the know will have any idea….
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