Good morning, it's Paul here.

Apologies for yesterday's outage, I'm back on the case today.



Veltyco (LON:VLTY) - is only a £3m market cap. An announcement this morning makes it clear that the company is on the brink of going bust.

Without fresh funding, it's finished, by the looks of it;

... In the event that trading in the short term is not in line with the Board's revised expectations and/or the Group is not able to manage its creditors and/or the Group continues to trade at a loss and/or the Group is not able to secure further funding as outlined above, the Group's ability to continue as a going concern and to meet its liabilities will be materially impacted.

It sounds as if the company might already be trading whilst insolvent, which can make Directors personally liable for a company's debts.  I hope that none of our subscribers here hold this share.




Haynes Publishing (LON:HYNS) - has put itself up for sale, starting a formal sale process.

The reason given is this;

"Our founder, John Haynes died this year; one year before the Company's 60th anniversary in 2020.  The Board now believes our future will be best secured by the whole Group becoming part of an organisation with the financial resources to invest for future expansion and take the Company through to the next 60 years of success."

The company's website shows that Directors have a controling stake in the company;

The directors of Haynes Publishing Group P.L.C. have beneficial/non-beneficial and a connected interest in 64.4% of the total shares of the Company.


There doesn't seem to be a bidder as yet;


... The Company is not in discussions with any potential offeror...

Which makes me wonder if the Directors have just got fed up with the hassle of having a listing, or perhaps want to cash out themselves.

The share price has more than doubled this year, in a market which has been very poor for lots of small caps. It will be interesting to see how much bid premium the market adds to the share today? Although with something this illiquid the share price isn't necessarily logical at all, as it can be affected by a few tiny trades.

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