Orogen - another £250k loaned - expect RTO before mid Sept

By HotStockRockets | Saturday 12 August 2017

Disclosure: Financial Investigative Media Limited, which is not owned by Tom Winnifrith but by a trust for his dependants, owns shares in companies mentioned in this article. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

Orogen (ORO) has announced that it has lent another £250,000 to online e-tailer Thread 35 Ltd, trading as Sosandar. Time to panic? No. As loyal shareholders, we certainly are not doing so.

The summer months have dragged on and so the RTO will not complete by mid August as we had hoped. We are now told mid September at the latest. The £5 million fundraise was massively oversubscribed ( four times) and we now expect the RTO to complete in the first or second week of September.

With this loan out the enlarged entity will have £7.25 million ( minus RTO costs) in the kitty. that is more than enough to see Sosandar well through to profitability. This latest loan is as with two prior loans of the same amount designed to allow Thread to take on ever larger lines of stock. It is a reflection of the fact that the company is enjoying record trading. It is a good thing.

Given the demand for shares in the RTO placing we expect the shares to fly from 1.7p next month so there is no need to panic at all. Hold on tight!

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