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Pinnacle Technology Share Chat (PINN)



Share Price: 6.50Bid: 6.25Ask: 6.75Change: 0.00 (0.00%)No Movement on Pinnacle Tech
Spread: 0.50Spread as %: 8.00%Open: 6.50High: 6.50Low: 6.50Yesterday’s Close: 6.50


Share Discussion for Pinnacle Technology


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Crash2016
Posts: 165
Off Topic
Opinion:Strong Sell
Price:8.125
S prophets
11 Feb '16
Pinnacle Technology Group (PINN) has announced valid demand for 345% of its pitiful open offer to existing investors and that it's set for completion of its uber private investor screw…

As a reminder, on 22nd January the company announced a placing of 108,392,857 new shares - comparing to a current 59,182,558 shares in issue - at 4.2p each. This included that directors would feast on 14,428,571 of the new shares and that shareholder MXC Capital (in which Pinnacle Executive Chairman Gavin Lyons is a Partner) would increase its holding by 49,697,549 shares to 56,766,275 shares.

The prior news flow had included ‘Cloud Security Agreement with Baxters’ (4th September, shares closing at 7.875p), ‘New sales team to drive O2 for business’ (2nd October, shares closing at 7.125p) and “the appointment of Gavin Lyons as Executive Chairman… his experience of buy and builds and track record of achieving transformational growth will be a powerful asset to the company” (7th December, shares closing at 9p and later in the month exceeding 16p). The shares closed 21st January at 12.5p, and so this now tucking into shares at 4.2p would be effectively taking the **** out of those excluded who, influenced by the prior news flow, had bought at the noted much higher prices.
But it seemed not to worry as it was stated that “the directors recognise the importance of pre-emption rights”. However, this was then followed with “the company is proposing to raise up to £0.25 million (before expenses) pursuant to the open offer”. This equates to just 5,918,256 shares– making a complete mockery of the ‘recognising the importance of pre-emption rights’ statement!

Whilst a scaling back exercise is thus now undertaken in respect of the open offer to ensure that the crony capitalists can take all of the cut-price shares that they want, Gavin Lyons takes the **** in commenting “we are pleased with the support shown by our shareholders through the open offer”.
However, the transactions are now set for completion – with Lyons adding “the acquisitions of Ancar-B and Weston conclude the first steps in our buy and build strategy providing 'IT as a service to the UK SME market'. Alongside the board, including Ian Winn who has now joined, I look forward to ensuring the organisation is focused on creating both customer and shareholder value”.

So far they’ve just shown they’re focused on taking value for themselves and the p**** out of the small private investor.

Disgraceful.
 
4PetesSake
Posts: 4,370
Off Topic
Opinion:No Opinion
Price:8.125
Taking profits
10 Feb '16
Is there anything in place to prevent the Institutions who participated in the 4.2p placing from selling their shares tomorrow and banking a tidy 90% profit???
chimers
Posts: 53
Off Topic
Opinion:Weak Buy
Price:8.25
pinn
9 Feb '16
well i will know on thursday if iv'e cocked up
Crash2016
Posts: 165
Off Topic
Opinion:Strong Sell
Price:8.25
Chimers
9 Feb '16
You can imagine what will happen though when the 4p shares hit the market. Under these conditions it would be prudent to take an objective view. The mindset will be to take immediate profit imo.
chimers
Posts: 53
Off Topic
Opinion:No Opinion
Price:8.25
pinn
9 Feb '16
just had a look in my various accounts in which i applied extra shares on top of my 1 for 10 offer.
don't think many applied for their offer because iv'e received all that iv'e asked for!
chimers
Posts: 53
Off Topic
Opinion:No Opinion
Price:8.25
pinn
9 Feb '16
the way mxcp work, don't be surprised that an rns comes soon after this latest issue of shares to give it a kick!
chimers
Posts: 53
Observation
Opinion:Weak Buy
Price:8.25
pinn
9 Feb '16
might get 6.5p
Crash2016
Posts: 165
Off Topic
Opinion:Strong Sell
Price:8.25
chimers
9 Feb '16
I expect to see them test 5p. I agree that 4.2p is unlikely.

If 5p is broken however then I don't see any reason why not a test of the placing price would come. The market conditions are worsening and at some point we are in for a shock where the Dow will tank a 1000 pts in one day and the ftse will also tank. When that day comes and by my guesstimate it's coming soon then over inflated stocks like pinn will feel the pain a lot more than companies with more solid fundamentals.

The last set of results are horrendous and they results will take a long time to make good on and current cash position is not going to change that. It's the business model that's needing re-evaluated.
chimers
Posts: 53
Answer
Opinion:Weak Buy
Price:8.25
pinn
9 Feb '16
crash, i fully agree. but i bet these don't hit 4.2p
Crash2016
Posts: 165
Off Topic
Opinion:Strong Sell
Price:8.375
PINN
9 Feb '16
The shafting of share holders continues. More for management. Less for share holders.




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