The share issue/compulsory offer is a strange one to predict. These shares are currently “trading” at around 30p (albeit in a very restricted market) and the offer price is 20p. Technically no-one would sell at that price, however many people who were brought in by Chuckles Green may be tempted to cash in. Also, I think indicatively there has to be a 50% take up excluding King, so this may also scupper things.

The problem for King is he has to put up a share prospectus which may cost anything between £300k and £600k. This is an unavoidable cost which will really irk King.

I doubt if an implosion will happen, but yet again Sevco’s off-field problems continue to dominate the papers which is pleasing.