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Thank you SS, that certainly clears up a level of uncertainty around the funding.
I'll spell it out, since if Ripley is unclear on the 7p placing it may be that other readers are too.
The placing was at 7p, at the time about 20% premium to the open market price. They didn't have enough authority to issue shares to complete the placing in one go.
So It was in 3 tranches. One would hit immediately, taken by Zark (and did).
The second would also be filled by Zark, once the EGM had been held.
The third would be filled by one or several other parties. A subsequent RNS said they see the whole lot placed by end of October.
That means that Zark, and at least one other party, are willing to buy in here at 7p. That was and remains a premium to what they'd pay on the open market. The only reason to do that is because they see it being worth buying in such a way that the company gets more capital to work with. They must see the opportunities here as being worth paying 7p for if it means the company has the cash to carry out its plans.
Looks like that might of not been strait forward.... 8 Oct Rns .. conditional.
September wanted 832 k ... Might of only got 280 k. ?
Just seen there was another one @ 7p 11th September this time via Zark Capital .
No page on II
5.75p now .. i wondered how it caught my interest Primary bid again 9th August @ 16p .
How i wish i had never heard of them thank God id stopped unseeing them .
Are they just about to sell bad ideas to Pi ... Can that last long ?
Maybe set up by hedge funds to ditch there rubbish .
surely, enthusiasts such as gilogilo and thrashunreal1 will
treat this as a marvellous additional buying opportunity?
Can't do anything now, just take the hit at 0800 monday
just like pis will never get told if there was
some additional financial incentive for
that mysterious would-be buyer of mxo's
stake, who popped up out of the blue
with what sounded like a high bid price
for aje ... mxo share price strengthened,
mxo got a whopping placement away,
& then the mysterious buyer disappeared.
funny that. - but it was very handy for the placing ... so
handy, in fact, that if those involved with mxo had been
less honourable people than they obviously were, it might
have been worth paying someone to say they were bidding.
and what pis will never, ever get told
is whether adm was given any extra
financial incentive to buy into this co.
Less than half the price off the year high and now needs more cash and looks like it's only going down. Not exactly rosey.
how is adm losing face?
the share price is several multiples
above where he bought in only a
few weeks ago. - he's doing OK.
Mon or Tue, never know if it's a raging success it might kickstart things and more news.
Is the company still looking at profit in Q4 or Q1 2020. Where's the uplift news? What is the CEO going to do....?
Doesn't look like ADM cares about losing face here.
So Monday morning we should get the result from the primary bid raise
Not the best of news to be getting, but surely things will then kick on once they have funding secured?
Will be interesting to see the changes of major shareholding once this is completed, see who's got the most skin in the game etc. So much potential upside afterwards so fingers crossed it then kicks on over the next month
Either way Monday is going to be bleak
It does concern me that they have to raise through PB ( and dont say they are because they want to give we shareholders a chance to take part in the discounted placing )
Tool - let's hope so! Nice bit of optimism. I'm off to get ****ed and forget about it for the weekend.
Have a good one
Well the share price went up four fold when the shaikh bought in, so if his mates buy in this time, then let's see the same happen again from 16p to 64p
Have calmed down now and starting to look at it a bit more logically and see it as a good thing as we can get all the good news now that they have the money to move forward
The reason it was announced at 4.30, is because that is when the door opened for the offer on primary bid so no matter who you are, we get the same chance as everyone else, which is fair
At least it's caused some interest! Even if it's diluted us at the minute, people will still want a return. Still a kick in the balls at 1630
Have just installed the app, adme comes up as soon as you launch it, you have 1d 22hrs left to subscribe