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Still it falls and still absolutely nothing from AFC. Does the company accept that they have pumped the price, taken some funds in a placing, annoyed the investor involved, lost general investor confidence and handed the share over to shorters?The silence implies an implicit "yes" to all of this.
Where are the twitter posts, the LinkedIn posts, the new blog on the new website, proactive investor news releases, interviews and general PR?
After weeks of seemingly good PR and newsflow, this last week has seen a complete absence of newsflow precisely when it needs it the most. Personally, I would be unable to sit on my hands like this so why is AB prepared to do this? It just adds to the sense of AIM smoke and mirrors and part of his job is to remove this sense. Get on with it!
Knock, knock, AB. Are you finally going to realise that your last small placing has led to panic and act like a CEO by reassuring the market that the 30p placing at more than a 20% discount or do you think that it is acceptable to let the new investor see an immediate more than 20% loss?
I really didn't believe that AB would let the company swing in the wind like this and it is clear that the market has taken a very dim view of this "strategy". What is the plan?
FuelCell - it is a well troddenn path on AIM to raise cash whenever there is SP strength - whether you need it immediately or not. AFC have no real revenue yet (other than grants and sundries) and so they have no other option. I’m pretty sure ABs plan is actually going rather well - from 5p to a cash raise at 20p on the back of recent snouncements. The good news is the news flow is about to get even better.
Oh, I see now. Got mixed up. Sorry.
Faragoat, I think you've had your head in the sand. 520,000 was raised for fulfilment of orders of the EV charger... Where did you get 100,000 from? Have you had your morning coffee yet?
With respect, Hmmm, I am not being naive and the resulting effect on the share price shows how naive AB was to take the route he did. It is clearly not irreparable but he needs to have a plan.
faragoat - What do you mean “only raised £100,000” ?
With respect FuelCell I think you’re being quite naive - the answers to all of your questions are pretty obvious.
This kind of volatility is inevitable with shares like this then and I for one am very happy with the events of the last week and looking forward to December.
Think they had only raised £100,000-
There has to be some strategy behind it. "I hope"
We can always look on the bright side Fuelcell, maybe he knows what is coming "round the corner" and is therefore getting the "small problem" out of the way so that we are all guns blazing after Dec 6th. LTH holder here since 2013, I was back in profit for all of 3 hours last week (ave 26.18p) Keep the faith !!
Come on, AB, you have had 48 hours to assess the effect on the market and come up with a proper explanation for why it was worth losing £30million on the MCap for the sake of raising £500,000.
How does this benefit shareholders? Why was an investor prepared to stump up the cash? Why did the company need such a small sum at such a large discount?
Unless there was a strategy, you have left this with no clear floor and the new investor will be added to the angry shareholder list as the SP is below the placing price before they come in the market tomorrow.
All it needs is a news article or a bit of PR to reassure the market. Nudge, nudge.
It is hard to believe that the CEO of a company could be so naive (to be polite) as to throw a small funding RNS out into the market without having an ace up his sleeve.
In the absence of any sign of an ace, the share is at the mercy of the shorters and it is a matter of seeing whether the 20p investors amongst others are prepared to take them on with some big buys. Why AB would want to put his shareholders in this position after so much positive progress is beyond me! I suspect that it wouldn't take much to reassure the market and to lead to a lot of shorts being closed once they realise that the party is over.
I feel a letter coming on......
Whilst AB can't necessarily be held to account for the number of shorters who were going to jump on the share so aggressively, I do feel, as I posted yesterday, that he really should explain the logic behind the small placing in a lot more detail. With the benefit of hindsight, he has given the shorters carte blanche to take over the share and spread panic.
Falling 15% below a small placing price, which was already over at over a 20% discount, within 24 hours, is ludicrous and the company should be working overtime to reassure investors. If they don't, then the directors will have turned themselves from "hero to zero" in 24 hours ans be setting themselves up for some very angry shareholders on 6th December.
Over to you, AB and your colleagues, to explain your plan. Did you mean to reverse the recovery of recent days and anger shareholders who were just starting to feel some positivity? If not, what was your plan?