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Hi two cents, the placement shares will surely be held by big institutions, and therefore you’d hope they’d want more than a quick 25%, but agree there will be some turnovers
jkGunner, sorry we've been talking across each other. My original reply to ianb114 was in relation to the whole fundraise, which I'm sure was what he was talking about, not just the Broker Option. I should have notice the title of this thread. The Broker Option IS "a drop in the ocean", as you said. These shares are not the problem because they will be owned by existing shareholders who are probably mostly all long. BUT, the 284M new Ordinary Shares could be owned by ANYONE, and you can bet your boots some of those will be opportunists, ready to offload on or around 1st June and make a tidy profit, if the share price is above 22p on that day.
Barclays said no. She advised to contact the company direct.
About 9.2 million shares to be closer. So not many, And that’s if everybody is able to take up the offer which doesn’t seem to be the case
It’s going to raise an additional £2 million from the broker options so it around 10million (ish) shares, Not 284 million, which was the original placement
“The Broker Option will raise additional proceeds up to a maximum of approximately GBP2 million (before expenses).”
jkGunner you need to read the RNS again. It's 284M additional shares, raising over £60M. You are not going to raise £60M by selling 2M shares at 22p.
HL don't have a relationship with their own clients.
Which other brokers won't allow it?
I thought it was 2 million shares, not 284m. If it’s only 2 million shares it’s a drop in the ocean. Seems also only a couple of brokers that are going to allow it anyway
ianb114
I think you are right to be weary at this price. When the additional 284,090,910 shares are able to be traded around 1st June, some of those shareholders are bound to be tempted to sell and make an overnight profit of the difference between 22p and whatever the traded price is, bringing the price to or near 22p.
Not sure we will see any future funding rounds....certainly not for a long time.
We have just raised £60m+ and the warrants (if exercised ) will be another £80m+ on top.
I reckon that will be plenty for the next couple of years and might be the full amount envisaged as required full stop.
It’s possible that will change but if it does it won’t be until we have seen substantial progress from this stage so for me the ‘threat’ of fund raisings are well off the table now for a long time.
No danger that there won’t be an uptake to fulfil the £2m on offer.
What’s not clear is if the broker will be giving out allocation on a first come first served basis and then closing the offer early. Or if they will wait the full period then allocate a % across the board based on asked v available.
I’ve also seen these work, where the demand is way too high, in that they give everyone a set amount then taper the allocation above that. That gives the smaller holding pi’s their full or close to full ask and heavily tapers the whales asking for huge amounts.
I'm keen to top up again, but does anyone think that those lucky enough to purchase at 22p might decide to flip the shares they previoulsy held (assuming they bought at a higher price) and cause a price drop?
I have been told today by interactive investor, that once you’ve put forward what you want to buy and responded before the 21st of May, if even if they pull the offer due to low uptake, that that price is guaranteed for those share amount. Therefore if you are intending to accept this offer I would do it quickly, as if they do pull it before the 21st of May those not excepted will be locked out
@Hivedoff - I had same issue with STX,
Thought I had the shares.
Only to find I was allocated x%
Shares could have been bought on open market at 33p at the time of placement.
Buy the time my share determination was finalized - SP was lower 40's.
So - for popular stocks - IMO - I personally will overly rely on placements to determine my shareholding and use open market to buy if the stock is robust.
HivedOff - This is a holding for the long term. Just set up a monthly direct debit for your ISA to buy these shares once a month. The price today, tomorrow, next week or next month more or less doesn't matter as you are buying into a speculative sector in its infancy. Some months you'll buy high, some months you'll buy low and hopefully in 5 years time you'll be laughing. I will guarantee you there will be more funding rounds either to support new investments in new companies or to support the next phase of development in existing companies, or worst case because costs are spiralling out of control to reach the desired end goal. Don't worry about short term price changes and your absolute entry point. I don't think anyone is investing in this share to capitalise on a potential 10 - 20% price change. Bar the traders, i think everyone here are speculators (including myself) hoping beyond hope that this will be a multi-bagger.
As a current holder I have applied for shares under the broker option, but what are the realistic chances of getting them?
It seems to me the higher the SP rises the more demand there will be at 22p and the greater demand. In the meantime are we not missing an opportunity to buy in this dip by waiting until the end of next week to see if we were successful?
I can’t help thinking this may lead to a delay in investment that could end up being costly...does anyone have the same dilemma?
The offer is available in my ii ISA....I have just applied for a load at 22p.