Game Discussions Star Citizen Discussion Thread v12

It actually is sustainable.
You don't need physical components to sell a ship.
Frankly you don't even need a ship to sell it
 
So some financial stirrings:

tyGEY1Z.png

XWsLKzC.png

BrHlT2g.png


Somebody's sold up some existing shares. [EDIT: CIG ballsed up the filing. It's a sale of new shares]. for around $5m.

Stu reckons a confirmation statement (confirming who now holds what etc) will have to drop in the next few days.

The share number isn't a neat fraction of any of the existing holders that I can see. (~9.12% of the combined Indus & Infatrade holdings. ~10.16% of the Calders' Indus holding alone etc).

Guess we'll find out ¯\(ツ)/¯
 
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So some financial stirrings:

tyGEY1Z.png

XWsLKzC.png

BrHlT2g.png


Somebody's sold up some existing shares, for around $5m.

Stu reckons a confirmation statement (confirming who now holds what etc) will have to drop in the next few days.

The share number isn't a neat fraction of any of the existing holders that I can see. (~9.12% of the combined Indus & Infatrade holdings. ~10.16% of the Calders' Indus holding alone etc).

Guess we'll find out ¯\(ツ)/¯

Maybe Chris is selling off his shares?

Then he does a Gariott, riding off into the sunset while claiming he had little to do with the project. :p

This bit made me chuckle:

EACH SHARE IS ENTITLED PARI PASSU TO DIVIDEND PAYMENTS OR ANY OTHER DISTRIBUTION ARISING FROM A WINDING UP OF THE COMPANY.

Now, i guess there is nothing sus here and just normal legal wording for this sort of stuff, but found it amusing anyway.
 

Viajero

Volunteer Moderator
Price per share there is 20.2£, whereas the Calders paid 494$ per share back in their first 46 million investment in 2018.

Edit: CIG multiplied their shares x10 after the Calder investment so the equivalent today would have been 49.4$ per share (not adjusted for inflation) instead of 494$. The recent allotment was at 20.2£ per share (around 25$). So that means a drop of around 50% in the share price since then...
 
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Price per share there is 20.2£, whereas the Calders paid 494$ per share back in their first 46 million investment in 2018.

Ooof. Talk about a fire sale.

Are you sure you're reading it right though?

Amount paid 20? Isn't that total? Nominal value of each share: 0.00001... erm....

Shares practically worthless? Someone just looking to get out to avoid liabilities?
 
Somebody's sold up some existing shares, for around $5m.
Didn't somebody buy newly allotted shares? I only see "Return" in the title of the fom but that's been there in earlier statements, too.

The SH01 form notifies Companies House when new shares are added to a private limited company. It’s also known as the ‘return of allotment of shares’.
In summary, if a company seeks funds from investors to stay afloat, it’ll need to fill in an SH01 form.
 
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Didn't somebody buy newly allotted shares? I only see "Return" in the title of the fom but that's been there in earlier statements, too.




The share totals are the same for here and the last confirmation statement: 11,745,920

Looks like a straight sale, not creation of new shares. To my amateur eye ¯\(ツ)/¯
 
shrach on SA says:

There is also an obligatory mistake in their filing, which is impressive since there is only one number to calculate. The number of existing shares, plus the number of issued shares should give the new total of shares. They forgot the step of adding on the newly issued shares, so the total is the old one from before the issue of shares, which is the sole purpose of the form they filed. So. Good job.

Sounds like new issuance then.
 
The share totals are the same for here and the last confirmation statement: 11,745,920

Looks like a straight sale, not creation of new shares. To my amateur eye ¯\(ツ)/¯
But... but.. wouldn't that be on a SH02 "Redemption of Shares" form?
You're right in that the number matches the sum of all previously held shares.
Edit: Agony_Aunt seems to have the explanation. CIG did a CIG.

$5m is a bit small, isn't it?

Stu reckons a confirmation statement (confirming who now holds what etc) will have to drop in the next few days.
Aye.
 
But... but.. wouldn't that be on a SH02 "Redemption of Shares" form?
You're right in that the number matches the sum of all previously held shares.

SomethingAwful's accountancy snake reckons there's a simple explanation. These are an allotment of new shares, but CIG messed up their filing 😁

shrach said:
There is some random activity today, they filed an allotment of shares that took place on 15th January 2025. It's about 2% of the outstanding shares for a total of £20.20 which is a premium over their par value of £2.48.

HRBibtB.jpeg


There is also an obligatory mistake in their filing, which is impressive since there is only one number to calculate. The number of existing shares, plus the number of issued shares should give the new total of shares. They forgot the step of adding on the newly issued shares, so the total is the old one from before the issue of shares, which is the sole purpose of the form they filed. So. Good job.
 

Viajero

Volunteer Moderator
Who did those 30120 shares go to, anyway?
Golgot tracked the Indus, Erloch and Infatrade numbers to the last financial statement, so it must have been one or more of the other shareholders on the later confirmation statement?
We ll see soon enough. Usually there is a note following after a few days listing the owners shares. Same happened in 2023.
 
We ll see soon enough. Usually there is a note following after a few days listing the owners shares.
I meant those in 2023. They were followed by a confirmation statement.

Indeed. Between "Confirmation statement made on 24 September 2020 with updates" and "Confirmation statement made on 24 September 2023 with updates" all shareholders except Marc Beaudet and Benoit got a 0 appended with no other changes. Those two gained 15060 each for a total of 30120.

I posted first, looked at the numbers later :cool:
 
$5m is a bit small, isn't it?

If I had to guess at what's going on here ($5m for ~2% of CIG), this ain't some sugar daddy riding to the rescue / replacing the Calders. This is some kinda mini bridging loan maybe? With some nasty stipulations perhaps? (Sell us all some fixtures and fittings style stipulations?)

Which CIG might go for as 'get us to SQ42 launch' money? (This would only really make sense if the Calders were leaving town though I'd imagine?)

EDIT: I guess alternatively it could be someone upping their stake a touch. (With some preferential payout metrics, aimed at the 2028 window etc?)
 
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