SMN 1.03% 49.0¢ structural monitoring systems plc

Ann: Withdrawal of Prospectuses, page-12

  1. 4,912 Posts.
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    From the announcement:

    ..."The Company continues to consider that an entitlement offer is beneficial to the Company and makes strategic and operational sense. Accordingly, the Company is keen on proceeding with a new entitlement offer together with a new prospectus in due course."

    Timing wrt the FAA approval obviously is the question, and IMO the directors will go ahead with the cap raising as soon as the Court resolves this issue of past disclosure requirement - presumably (and hopefully) this Court approval won't be a big issue.

    There is no doubt that additional funds are required to support:
    1. An increasing workload of AEM products, including new radio plus Eagle Audio products, recognising the company has geared up with a significant increase in R&D spend, plus sales staff;
    2. CVM roll-out.

    IMO the pricing will probably be planned around current levels unless FAA approval arrives sooner. Regardless, I take the view the outlook for the future is rosy, and investors won't be disappointed in time by getting set now - that's why I was adding before the Suspension. This is a long term investment for myself.
 
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