maybe DSM is in discussion to buy into BLT and therefore negate the issue of a share placement to the shareholders?
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maybe DSM is in discussion to buy into BLT and therefore negate the issue of a share placement to the shareholders?
That's an interesting thought Neopole. I just re-read the last annual report ...
"BLIS Technologies requires new capital to further progress the new strategy. As previously stated, the Company is seeking an international partner to take up equity in BLIS. Assuming that the arrangements for such a placement are secured, the Directors will then seek shareholder approval for the transaction.
The Directors will also seek approval from shareholders in August for a rights issue to existing shareholders..."
I hadn't noticed the confident tone of that 3rd sentence ...and the rights issue sounds like an add-on comment rather than the main thrust. The main point is the expected corner-stone shareholder which they anticipate as being sooner than later.
I'd better join that buyer's queue before the rush!
Assuming their is a rights issue, Any shareholders here
going to take up their rights?
I probably will, but it depends on the deal.
It would be good if their were some options for say BLT in
3 years time, that would make it interesting.
If the Nestle deal and DSM work.
If Nestle and DSM are really comitted they will be making sure they have got a good deal now before BLT find themselves in a position to not need them financially, the idea of going to the shareholders for more money makes me think that these companies are not exactly falling over to get in, but this could be a good thing for existing shareholders BLT maybe holding their cards close to their chest and not giving too much away too early, lets hope it is the latter.
Hi Bobby whats your view on
the delay with the rights issue?
Not sure what to make of it. On the one hand, the new CEO would be only too well aware of BLIS' past propensity for giving and then missing self imposed deadlines. He would not have given a date he did not think he could stick to, due to impact on credibility. On the other hand, shareholders are never in a hurry to be tapped for cash, so maybe won't hold the delay against him. Could it be that at the time the issue was announced an underwriting arrangement was in place, but has now fallen over due to recent market turmoil and apparently reduced appetite for risk?
To put things in perspective, we are only a few days into September, maybe nothing too serious to worry about at this stage. Have you emailed BLIS to ask them about the delay T1?
If BLT is in fact in disussions with a serious stakeholder (as hinted at several times by BLT) ...remembering that such talks may take 6-9 months ...then the idea of a rights issue to build new offices or lab capacity etc. may be under review. Stakeholders often want a strong say in business decisions.
Hi Bobby, i havent contacted blis.
Maybe wait a couple of weeks.
Actualy I am looking to buy some more especialy
at todays prices.
I thought the NZX has controls in place to keep us informed ...a level playing field etc?
BLT stated they have a rights issue to be announced in Aug ...followed by absolute silence. They ought to give an apology ...and provide the NZX share market with a reason for that delay.
These guys seem to forget they're a NZX public listed company.
According to todays Otago Daily Times Blis are set to raise $3m in new capital before the end of the year, with a shareholders meeting set down for early October.
They have also agreed to broarden their research agreement with Nestle into other probiotics.
No doubt somebody more computer literate than I can post the article.