Thread: Virgin Media Phorm Webwise Adverts [Updated: See Post No. 1, 77, 102 & 797]
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Old 18-04-2008, 00:12   #3929
AlexanderHanff
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Re: Virgin Media Phorm Webwise Adverts [Updated: See Post No. 1, 77, 102 & 797]
Another point worth revisiting is the 32M GBP they are expecting to raise in share deals with Morgan Stanley. The deal was I think 1.6M shares at 32M with Canaccord Adams Ltd. and Morgan Stanley with shares placed at 20GBP per share. At the moment the market price is about £12.80 per share.

I wonder how these two new investors are feeling given they entered a deal which has devalued by 40% before it has even been finalised. Do we still think these 2 investors are going to go through with it? Given that the money raised is earmarked for actually setting up the system in the UK, it could prove disastrous for Phorm if they back out at the last hurdle.

Alexander Hanff
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