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so what price do you think CLNR would sell out at ?
This is what is happening in my opinion
Volume is very low so it doesn’t take much to swing the prices
As soon as there is any buying interest the sells come in to dampen them
Then a few more are sold to really cheese people off and drop the price creating more shares to be mopped up by whoever is doing this
So basically less shares are in the hands of pi’s
And that massive premature raise has played right into their hands at the expense of people like myself
olly......the excelerated bookbuild in June created 855m new shares allocated to existing and New Institutional Investors. This included Michael Spencer who already held 65m (11.8%). Michael Spencer through his company received 20% of the New Shares. Ordinary PI's were not allowed to subscribe for the New Shares.
There are now circa 920m shares in the Hands of Institutional Investors. Total share issue is 1406m. Therefore more than 64% of shares are held by Institutions, who if they act in concert could engineer the outcome you deny.
Mike you make a very valid point, but it is folly to ignore. The saving grace for PI's and a northwards move in the SP, is Exec share options cannot be exercised, in about a year, unless the share price is close to 3p at defined time.
If the directors of CLNR do look in on these boards and I don’t know the answer to that, but today is symptomatic of what is going on with devaluing the shares
BadA, not necessarily. I had company stuck with for years, partaking in Rights Issues etc. I could see the long term potential, they were into a unique(patented) system weatherproofing large industrial buildings. It was a relatively small company who were being awarded major contracts, particularly Airports throughout Europe. The share price moved within a very narrow range, 7-10p. , it's profits because of developments costs were small until the company's products/services became widely known. Significant profits were announced and within 12months the BOD in colusion with a Major Bank, forced, yes forced small PI's out at a value they considered fair. There was no arbitration, PI's had to accept what was on the table on that was it. I protested strongly ,I wished to retain an interest, but was prevented. Considering my loyalty over several years, came out with less than my total investment. Too add salt to the wounds within 3 months the Company, sold an asset for a mega profit which went some way towards discharging the Buy-out Loan.
Super... there are rules which are not difficult to comply. At the end of the day a Majority of Shareholders can do almost what they wish and a Court will Uphold.
The lack of news may be good to some, others view it with suspicion. It all depends how much you trust this market??
Look at the register of major shareholders,not a chance of this being taken private imho.----Taken over possibly,taken private --no.
Indeed I think there are some rules on this.
surely though, if this does happen, the buy-out deal is a lot higher than todays price ?
Mike, the SP can be allowed to drift lower, spreading discontent amongst Ordinary PI's meanwhile Major investors tend to be more aware of a Company's activities and potential, than the "minnows". The BOD in concert with Major Investors present a buy-out deal to PI's which is basically a fate' acompli. The Company is de-listed and goes Private. Have seen it happen and there is little Ordinary PI's can do. Cynical view perhaps, it is the way money and overwhelming shareholdings can and do operate.
Just my opinion and hope for us all it does not happen, but the risk is real.
MKA is another with a MCAP just above cash because no news expected until next year. Well worth doing a bit of research because they have a potential 25% free carry to production.
Shell may also be considering taking us out. Very attractive at this MCAP.
Cease to be a plc.
MM's love to let a share drift if it creates volume. No need for regular updates imo. I think BOD are doing okay and silence is golden. May add more in the morning. Target holding increased to 10m
What do you mean by private fairdealer?
Is it concievable, as I suggested just after large placing, small PI's are being forced out ahead of the Major Investors taking the company private. Cannot see Michael Spencer accepting the current state of affairs without there being an Agenda.
Food for Thought!!!
They could update on Cupertino Dewar or drill decision on Selene or any early results on Pensacola
They have two brokers and a company who appear content to let it drift to the princely sum of beggar all!!
I cannot see any news , good or bad. unless the co give us some form of information about future timescales, the price will continue to drift down.God forbid this turns into another CHAR.
Maybe and I wish you all well
Was so far under water and seemingly no end and no updates decided to cut my losses
Like I said I am appalled that they have allowed this amount of shareholders value destruction especially with two brokers
news is imminent ?