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Tomorrow will be the last Monday of February. So our very good friend IF could probably reveal something this week. Just time is passing and nothing is happening. Hope he is doing something in the background to justify his salary.
Someone was obviously not happy and sold 13k for 0.66. Some lucky ones got them for 0.74 to 0.75. I will be looking to top up if it drops there again
We will see on or around the 25th but I expect there will be no change to the % holdings shown on the pxs website.
I suppose the 9% shown for SL could be wrong but that would mean he has failed to notify the market as required. IMO the 9% is correct but the number of shares shown is wrong. I don't think you need to notify the market in that case.
order 162439 feb 29th
Yes that makes sense, whatever the % it’s not right ! that will / should be put right soon in my opinion , with the new placing having to be added at some stage .
I make it 11,954,259.04 shares short.
He would have had to have purchased at least that many shares in the £1m placing to stay at 9% and avoid having to give a TR1.
If he purchased 12 million in the placing to keep himself above 9% then with the new placing shares this will take him bellow 9% and he will have to notify. But if he purchased more than 12,554,259.07 shares in the £1m placing then nothing changes unless the latest investor of 5,000,000 shares goes above 3%.
I hope that makes sense lol.
I notice the provexis site is still showing SL holding 9% of the company , but his holding seems to be about 3.5 m shares short of 9% , could the holdings information have been held back until this new placing was announced !this would again change the % holding of all holders , If that is the case then we might get the long awaited update to holdings by significant investors this week , this might make things a bit clearer for us all .
Amen to that sentiment.
Mr Buck, as the person who introduced Fruitflow to Provexis, deserves credit for his role. The signal that he has sent by making this purchase may prove to be significant.
Regarding the likes of us joining in the placings, I just don't know. It's fairly obvious that the participants are known to each other, would they want others involved, or have they decided a careful strategy to keep all but one below the holdings notification level? Does that form some part of a master plan with the end game in mind.
Idle speculation of course, I wouldn't even ask the question, apart from rhetorically on a chat board.
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BB
If you have your health, you are the richest person in the world, there’s no pouches in your final suit !
W$
W$
Can't say I blame you. You'd also have the hassle of PXS holders googling you to find out your life history and inside leg measurement !
Fair play to you for your current holding though. A feel like a right pauper in comparison to your net worth and Alfie's retail empire :(
I try to console myself that if I was ten times richer and a multi-millionaire I'd be unlikely to be ten times happier !
Totally agree on Buck's return, if he does well, so do we.
BB
BB
lol,
over 3%, not worth the hassle of having to notify change in holding every couple of months when someone wants some cheap shares......on second thoughts, if no one else is bothering.......
Anyway, we all hope DB gets a good return on his investment
W$
Wellsite
I suggested pretty much just that to Alf a couple of months ago. I reckon if someone had said to Ford last year they were interested in taking part in a placing and had 5 to 10k burning a hole in their pocket, then he'd likely have been amenable to it.
The chance has gone now, but it's worth bearing in mind in the future on any tiny companies with cashflow issues that you're invested in. If you don't ask, you don't get.
BB
Gixer
Fair point on the closed period.
On "As it is never made clear, everyone assumes Buck does very little with regards to company business which I am sure is not the case. But, as a company, we need someone in the position and you would struggle to get anyone with his knowledge of the product for £36k a year. Far less than it used to be."
I broadly agree with that, Buck's nothing special, but 36k is jack all.
However's he's been a NED since 2019, so, pretty much by definition, will have very little to do with the running of the business and will just be used like an external consultant occassionally. When Buck went from exec chair to non-exec, Ford took on a Chief Exec role and will have taken over the vast majority of Buck's responsibilities as exec chair, hence Buck's large drop in remuneration.
Putting all that to one side, Buck could easily have bought that number of shares in the market, so the extra placing did him a bit of a minir favour, which is fair enough. Tis a shame that Ford didn't put some of his own money in as well, but there you go
BB - eagerly awaiting the RNS showing Wellsite going over 3% ;)
BB
The fact is we have a million quid in the bank and we really didn’t need to dilute further at 0.75p now - period. I bought some at 0.8 p this week, maybe next time I should call IF and ask for some at 0.75p ? Who bought the other 37.5K ? If employees etc, fine by me, they should be rewarded for their efforts.
Wonder what’s next
W#
"As a result of the implementation of MAR, AIM Rule 21 was replaced by a requirement for AIM-listed companies to implement a share dealing policy which complies with a set of minimum requirements. The definition of a close period (redefined as a ‘closed period’) was also amended to be the 30 days prior to the release of financial results. The restrictions on dealing while in possession of unpublished price sensitive information remain.
AIM companies are required to establish appropriate closed periods (which may be more than the prescribed 30 days prior to the release of financial information) during which directors and applicable employees are restricted from dealing in the company’s shares, and create and implement procedures that directors and applicable employees are required to comply with prior to conducting any transactions in the company’s shares, in order to obtain clearance to deal. Finally, there should also be a procedure in place requiring notifications of dealings in the company’s shares to be disclosed to the company in order that the company can notify transactions which are required to be made public."
The news of the distributor is in the public domain so I doubt knowing who the distributor is would be classed as price sensitive. The above would suggest however that as the company was in a closed period then Buck could not have participated in the fund raise at the time.
https://www.reedsmith.com/en/perspectives/2016/11/changes-to-the-aim-rules
As it is never made clear, everyone assumes Buck does very little with regards to company business which I am sure is not the case. But, as a company, we need someone in the position and you would struggle to get anyone with his knowledge of the product for £36k a year. Far less than it used to be.
Wellsite
I'd say it was only insider trading if the distributor is much bigger than could be reasonably expected from info in the recent RNSs, or the volume of sales expected via the distributor is much bigger than what you'd expect from the RNS's.
If you think that's the case, and Buck is pulling a fast one by buying at .75p, then I suggest you dig deep over the next month or so, get your buying shoes on and raise your stake to 3 or 4% to follow him.
BB
If the director has put some of his own cash ,this must be a positive thing ,so why the drop
I'm sure he does wellsite............that sort of thing goes on all the time though
ws, as he's been as useful as a chocolate fireguard, good riddance.
Presumably DB knows who the distributor is - if so couldn’t this be construed as insider trading ? e.g. if the distributor was Coca Cols (we wish) then once news get out the price would go up ?
Wellexpectingalargelatereportedtrade
Which makes you a gambler, and him an investor.
I would have advised him to buy lotto tickets instead.
Perhaps he’s planning to retire at 75 and is just pepping up his pot
W$
DD77 and BB are spot on , BODs just out for themselves.