The facts are staring people in the face..
54 Million shares where placed,albeit at 25p,however that is circa £13 Million.
You dont place this value in a doomed Company.
It is a shame that the dead hand of Leech and his audacity to place his MLB shares as security against his foray in to doomed exploits caused these problems.
I feel incensed that MLB had to hive off Cobra and sell its stake to survive all because of Leech.However to see the back of him has been the best outcome
and breathes a new life into the now unhandcuffed management.
Also they could so easily have lumped in an extra 20 Million shares as a fund
raising but didnt.They are either confident that funds are sufficient or confident that money can be raised in the future at far less dilutive terms.
Remember even some directors bought shares this year.
I am sticking with this until the dawn of 2005 as,if all goes well that could
be a totally new era for this stock,and feel confident of a mulitple of todays value,so in truth it really doesnt matter much to me whether I get more at 26p
or 35p. Ive been buying all year as Ive said on a few occasions.
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