of MXC , Ian Smith and Tony Weaver were the guys behind Redstone's turnaround with Smith as CEO and Weaver as non-exec. While the need for further financing at PINN is presumptious, their recent investment opens up lots of possibilities not least of which is an endorsement of the present SP as the removal of 3% of the shares will reduce the free float. We patiently await an IMS to let us know how things are rather than how some perceive them to be. I don't expect them to be passive investors though.
19.58 on the Ask. Although small trades have been seduced into paying well over the Mid price but squeeze the broker and you could get nearer 19. Be lucky. My opinion is that stakebuilding is the order of the day and PINN board should be in bid alert mode and should adopt a spoiling tactic by issuing more shares by way of a secondary placing, a rights offer will not go down well as too time consuming and expensive, to thwart and dilute any potential stakebuilders and or bidders chances of acquiring a sufficient number of shares/voting rights in which to launch a bid for the outstanding shareholdings. 10% is the next milestone for any would be stakebuilder!
... businesses MXC does things differently. Their principal investments align risk and reward with their institutional co-investors. To date, MXC has seen success in completing both primary and secondary fund raising in their investee companies, having secured funding for all of their quoted investments to support their growth through a number of over-subscribed placings. Can we deduce then that PINN will opt for a corporate secondary offering re-financing strategy?
MXC has also supported existing and start-up private companies with growth and development capital.
I notice a lot of early posters are missing, do they suspect a fall back, waiting to buy in again name of the game,pays yer money.Traders will always look out for a sniff,but you know,sell at wrong time.atb.
We on the outside can only wait and see if our confidence is misguided or well founded but don't write off Pinn yet. If you look into it you will see that Pinn also has institutional backing and some well connected directors. You are right Redstone is badly run and provides opportunity for a turnaround but as I said earlier, a part of Redstone which Pinn acquired (RMS) was a much greater challenge than it appeared to be so good luck with that, you will need it. I don't understand what you mean about no need for dilution, Coms are emptying the kitty on the acquisition and an overdraft will increase debt, not reduce it. I notice a lot of early posters are missing, do they suspect a fall back, waiting to buy in again.
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