How much influence to MXC Capital and Ian Smith, their CEO have with PINN? I had not realised there was a connection.
I have only come across MXC Capital once before which was back in February 2013 when they sold their entire holding of 55,145,833 COMS shares and just prior to this their CEO Ian Smith had also sold his own personal holding of 8,000,000 shares. These would have been sold at around 0.85p, however having bought them in a placing at 0.8p MXC still made about 6% profit.
Thanks for the good wishes, yes I did thanks. Maybe Gedw will get another list of shareholders and let us know whether Coms still hold Pinn shares but probably not. No idea about AB's departure but his replacement I'm guessing will be connected to MXC.
I too, don't know if COMS ever had a shareholding in PINN, therefore that would have been an unanswerable question, for me anyway. I took it to be a general question about how COMS Shares are doing. If I have answered the wrong question then hopefully GedW will confirm this and elaborate on what he meant to ask.
I think the SP will rise either when further details of the £12m P.A. contract are announced, eg. Which company it is with, or when details of a further contract win are announced that Deadley referred to on 13th December.
It could also see a rise when we get the next holdings RNS with details of who has been accumulating shares over the last couple of week, often referred to as the "300k buyer" as he/she usually buys that quantity.
Any news yet on AB will depart and who might replace him?
Interesting answer but to the wrong question. Gedw asked, not "what happened to Coms" but to "Coms shareholding" which I take to mean a shareholding in Pinn. You never can tell with Gedw, plain speaking is not his forte. Did Coms have a shareholding in Pinn? Who knows? Pleased that Coms market cap is going up, the more shares they sell the better. When do you think the SP will rise.
Not a short answer to your question but as you have asked it I thought I ought to reply.
From the COMS perspective, the market did not like the idea of the takeover of PINN and therefore the COMS share price immediately dropped from 4.15p by about 12%. However even after COMS announced that they would not be making an offer the damage had been done, confidence was dented and the share price drifted to 3p. (We all know that confidence is key with AIM shares).
However since then, contract wins, a placing to enable the purchase of Redstone's Comunica, a 12.6 % stake taken by Helium Sp. Sit. Fund, a 600% increase in staff and the award of an ISO9001 accreditation, a major £12m P.A. contract, the award of Best Performing Share of 2013, an upbeat trading statement with revenue and ebitda being in line with management expectations, a new HQ in Buck's for 200 people the extra capacity being for anticipated new activity in 2014, the launch of new high speed Broadband products, a teaming agreement with PTS Consulting and the formation of a new subsidiary, "Coms Media Ltd" have been some of the highlights.
The Coms SP is now back where it started the day on 3rd Sept but its M/Cap is now £33m as opposed to £22m.
I hope that this provides you with a suitable answer.
Perhaps you could provide a similar answer to the same question about PINN?
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