UK 10:38 Tuesday, 6 October 2026
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On 20th November Motive Television (MTV) announced a further confetti issue to Bergen Global Opportunity Fund, LP, though including that “Bergen has agreed to certain, substantial, limitations on its ability to dispose of the shares”. My review included that this looked a case of attempting to close the barn door after the horse has already bolted – see HERE. However, anyone reassured by the ‘substantial share disposal limitations’ would have had something of a shock today…
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Comments
MTV Joke
Bergen obviously want to get the next tranche converted as soon as possible as they can see the writing on the wall.
MTV still owe them considerably more than the market cap of the company so there will be many more “issue of equity” RNS’s to come but with the market cap being so low, Bergen can only convert a few 10’s of thousands of pounds worth at a time otherwise they will go over the threshold upon which they will have to make an offer for the entire worthless company.
On top of all that, surely they will be attempting to get yet another placing away soon to pay Messrs Fertig and Pilsworth their Christmas bonus…..
As you say, what’s the bloody point?
BobbyChariot
Bergen must have made millions out of daft MTV punters, the fools still keep ‘topping up at these low low prices (thanks mm’s)’ in the hope of some puffed up news release that may spike the sp.
Look at the state of the LSE board, they all need their keyboards taken away from them and locking up in a padded cell. Mr Lithium is the stand out performer for me on there, he must be paid to ramp this crap.
Can someone just put MTV and its sha- sorry, confetti holders out of its misery.
DUCK AND DIVE
There is still another $400k or so of Bergen debt to be converted into confetti if MTV can last long enough.
Cantor Fitzgerald curiously acquired 91m MTV shares on Nov 20 and disposed of 25m of them on Nov 25 and I had assumed that these shares had been acquired from Bergen’s bulging bag. But today’s RNS’s show that Bergen acquired 241m MTV shares on Nov 26 and disposed of 100m of them the next day.
Of course, Nov 26 was the date that the 241m new MTV shares were admitted to trading – so where did Cantor Fitzgerald obtain 91m shares from on Nov 20 (the date the equity issue was announced)?
It’s all jolly mysterious. Could it be that Bergen still held over 91m MTV shares on Nov 20 but shifted 91m of them temporarily to Cantor Fitzgerald so that Bergen could acquire the new issue without triggering a mandatory takeover bid for MTV?
Could it also or alternatively be that Cantor Fitzgerald, without any restricting agreement with MTV, were free to short MTV somehow prior to Nov 20 but then acquired shares from Bergen to close the short?
My head hurts. MTV is a joke.