watch this share mid east action

shaikh2

Could you expand on this mid east action?

In posting on the DGT thread a apropos Fridayis placing, I thought it might be of interest to copy the relevant parts of my post here to this new thread.

"Stephen Thomson was appointed non-exec chair in October following Simon Eagle's resignation in July last year. Thomson also happens to be deputy chairman of Oak Holdings and a non-exec of Tellings Golden Miller, both DGT clients. Seems like he was recommended/placed by DGT - an interesting part of a NOMAD's brief (now there's a concept to slake your thirst in the dessert!).

A closer examination of the new placing on Friday reveals the following thoughts:-

The chairman, CEO and FD subscribed for 128,000,000 shares between them, obviously pour encourager les autres. Let's assume there was no commission payable to DGT on these.

Two new major holders, Dr Oussama Al-Dimashki and Mubeen Corporation, subscribed for a total of 501,526,304 shares, roughly half each, but quite possibly connected parties. These two now own 59% of the issued capital including attached warrants. Can someone tell me, is this carefully pitched below the 60% mark which would trigger a full bid? I imagine that DGT worked hard to introduce this fresh capital, earning maybe 5% commission.

I guess the remainder of the placing, 74,400,000 shares, being such a round number also went to a new(?), single placee, presumably introduced by DGT, also for a 5% commission. I also doubt whether any existing shareholders had the stomach for putting good money after bad.

The total commission was therefore nearer 35,995. There may have been other Broker fees associated with this deal, making as much as 50,000 total Broker fees in addition to the 30,000 NOMAD fees estimated by og. A total of 9% of costs raised does not seem unduly high, given the parlous state of FEI which DGT had to sell to the market. TR rescuing FEI from the seeds his forebears sowed with Simon Eagle who seems to be of that ilk!

After full exercise of the warrants (which expire a year hence) I assume at the same price, there will be 229,000,531 (14%) old shares in existance to 1,407,852,608(86%) new shares (incl. warrants exercised) in FEI - all of which really belongs to the new thread started by shaikh2 on Friday, to which I am transferring my further FEI thoughts (Thought Transference by Dogs - now there's a captivating idea to raise fast city money on, Tony).

sd"

Do I detect, shaikh2, some cultural connection in your name not only with the mid east but also with the new major shareholders? Is that perhaps why you have reason to think this share worth watching? I am intrigued and would like to hear more, but with a spread of 120% (!) watching is all I will be doing for the moment.

sd