Promisia Healthcare

[kiwikeith]

Just had a look at the annual report and only 2 shareholders own less than 5,000 shares. Those two shareholders own 4 shares between them. So a one for a thousand share consolidation is not going to inconvenience anyone.

[nztx]

Just had a look at the annual report and only 2 shareholders own less than 5,000 shares. Those two shareholders own 4 shares between them. So a one for a thousand share consolidation is not going to inconvenience anyone.

Yeah but the size of the small fish is still small even after a consolidation

and wiping out 999 shares of every 1000 hardly bodes well for then going with sticky paws outstretched for further coin to replace it

[GTM 3442]

Warp Factor Three Mister Scott! A Capital Raising! And with Bonus Warrants attached!

From the Announcement

The Offer

The Board has resolved to undertake the Offer at $0.001 per share with a
minimum of $3 million to be raised. The Board has discretion to accept
oversubscriptions of up to $1 million.

In addition, Promisia will offer one warrant for every share acquired under
the Offer for no additional consideration. Each warrant gives shareholders
the right, but not the obligation, to subscribe for one additional ordinary
share in PHL on or before the expiry date for an exercise price of $0.002.
The expiry date of the warrants is 24 March 2027. Application has been made
to NZX for quotation of the warrants on the NZX Main Board and all the
requirements of NZX that can be complied with on or before the date of this
announcement have been duly complied with. However, NZX accepts no
responsibility for any statement in this announcement.

The share purchase plan is intended to open on Thursday 11 July 2024 with a
record date of Wednesday 10 July 2024. Eligible shareholders will be able to
apply for NZ$50,000 of shares at an issue price of NZ$0.001, with the ability
to over or under subscribe.

For what little it's worth, I think they may well be onto something with the strategy of buying out and investing in non-urban retirement and care facilities in areas which the major players are never going be interested in. The question is, do I think the game is worth the candle?

[kiwikeith]

Warp Factor Three Mister Scott! A Capital Raising! And with Bonus Warrants attached!

From the Announcement

The Offer

The Board has resolved to undertake the Offer at $0.001 per share with a
minimum of $3 million to be raised. The Board has discretion to accept
oversubscriptions of up to $1 million.

In addition, Promisia will offer one warrant for every share acquired under
the Offer for no additional consideration. Each warrant gives shareholders
the right, but not the obligation, to subscribe for one additional ordinary
share in PHL on or before the expiry date for an exercise price of $0.002.
The expiry date of the warrants is 24 March 2027. Application has been made
to NZX for quotation of the warrants on the NZX Main Board and all the
requirements of NZX that can be complied with on or before the date of this
announcement have been duly complied with. However, NZX accepts no
responsibility for any statement in this announcement.

The share purchase plan is intended to open on Thursday 11 July 2024 with a
record date of Wednesday 10 July 2024. Eligible shareholders will be able to
apply for NZ$50,000 of shares at an issue price of NZ$0.001, with the ability
to over or under subscribe.

For what little it's worth, I think they may well be onto something with the strategy of buying out and investing in non-urban retirement and care facilities in areas which the major players are never going be interested in. The question is, do I think the game is worth the candle?

Who wants to own shares in a company with no liquidity in the shares - regardless of the underlying business? Not me that is for sure.

[GTM 3442]

Some big numbers in this here announcement. . .

https://www.nzx.com/announcements/434279

Promisia's special shareholder meeting will be held virtually via the MUFG Virtual Meeting Platform at www.virtualmeeting.co.nz/phlsm24 on Wednesday, 31 July 2024, starting at 12pm.



As detailed in the Notice of Meeting, the meeting is for shareholders to vote on the following ordinary resolutions:


1. Approval of the Acquisitions: That, under NZX Listing Rule 5.1.1(b), Promisia undertaking the acquisition of Golden View and Ripponburn together with all related transactions as described in this Notice, are approved.


2. Approval to Issue Convertible Notes: That, under NZX Listing Rule 4.2.1, the issue of 6 million Convertible Notes under the Convertible Note Agreement and the issue of up to 6 billion Shares issued on conversion of the Convertible Notes, on the terms as described in this Notice, is approved.


3. Approval of Issue of Warrants: That, under NZX Listing Rule 4.2.1, the issue of up to 4 billion warrants under the terms of Promisia’s capital raising and on the warrant terms of issue set out in this Notice, is approved.

[nztx]

Still postponing grabbing the smaller sandwiches to combine into less of the larger ones

What does a fresh large avalanche of Convertible notes say to the ordinary bread & butter stakeholders
still hiding out under rocks waiting for SP to double so they can run away hopefully with the seats of their pants still intact ?

At the end of the day while the fish heads at board level are busy throwing around pretty little billions
in new formulated worthevenless units in exchange for millions of Con-Notes .. the SP still looks like $0.001 and Cap still looks like a few skid marks over $21 Mil despite all the murmurs & other sounds of something moving

What did they all have for lunch .. on the head cherang's free catering ticket again ?

Was it something over Dilutionary for the day ?

[GTM 3442]

Even allowing for the capital raising, one feels that the 55,000,000 on offer at $0.006 may be slightly more optimistic than realistic.

[kiwikeith]

Finally they are going to do a share consolidation. 1 new share for every 500 existing shares. So it will be interesting to see where the share price settles. 500 x the existing share price of one tenth of one cent gives you 50 cents. It will be complicated by the capital raise and 3 warrants for each existing share. I will have another look at it when all the dust has settled.