Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
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Any idea's to why this just happened?
Swissydog,
It's been a bad day for markets, due to concerns about military tension between Russia and Ukraine and interest rate rises.
DARK (Darktrace) for example fell 14.6% today with no company news to cause it, almost exactly the same as GENI's 14.4% fall on no news.
Markets should rebound though whether there is war or not.
Why have some stocks fallen more than others, even with no company news? I think in some cases, like GENI, it's because its liquid enough to sell quite sizeable amounts relatively quickly, but small enough for this to have quite an impact on the share price.
LSE % Gainers Top Lists
EPIC Name %
GYG Gyg +14%
TST Touchstar +10%
You can tell it's been a bad day on the markets when the top two risers are only up 14% & 10%!
Thanks Hedgehog100 this was as I suspected but great to hear your opinion. I always knew that the free float of shares was small in relative terms and having not invested in any companies where this was the case I am not used to how price fluctuations can be manipulated without news. I totally believe in the company and cannot see that they have not stood firm on the directions and activities promised at the IPO. Just wish I could have jumped in at these prices.....I might try a persuade my partner to buy some ;) Take care and thanks again Swissy
They are down because our big seller popped up again and unloaded 157000 shares.
"Any idea's to why this just happened?"
When Swissydog asked that yesterday, I could have just said: Because someone has sold some shares.
Anyone with eyes can see that shares were sold yesterday, the real question is why they were sold yesterday.
We've got no idea who sold, as there's been no RNS, so we don't now if it was someone new or someone different.
You Don, don't appear to have any answers, but are just posting crass prattle.
When I posted ref 10% the larger sale wasn't showing but a string of 5000 share sales had gone through but not a huge value possibily £9000 and that was my surprise at the SP reaction. It went down further after the big sale.
And you yah muppet are a ramping ass with no clue so do one.
And as to who is selling ,probably David Evans as most of us here would know!
Don,
Your theory is flawed, in multiple ways:
1. Big GENI selling started months before David Evans resigned.
2. I don't think it's likely D.E. would try to sell an institutional-sized stake on the market: more likely he would place it, especially with his contacts.
3. He's a specialist investor in this sector, with a tremendous track record, so he will know how good GENI is:
HTTP://www.sharesmagazine.co.uk/article/life-sciences-industry-veteran-david-evans-launches-new-investment-company
4. He's also extremely wealthy, so won't need the money.
So I think it's far more likely that he's been buying since he resigned as a director.
Like most people here I imagine, I think David Evans will be intending to wait until GENI progresses its business plan, and hopefully multibags, before selling any.
It could be that he always intended stepping down at some point relatively soon after GENI floated, having helped the company achieve this important milestone, and being very busy.
The new director appointment last week, of a cardiovascular disease specialist, supports this view.
There's also another new director coming shortly, and GENI won't want the board to become too big.
But the opportunity to acquire more cheap GENI shares, with fewer restrictions, could have been an additional inducement for D.E. to resign.
Either buying for his own account, and/or for his Intuitive Investments (IIG) life sciences fund.
And investment in GENI from IIG would make perfect sense, and stepping down as a GENI director could simplify this.
Finally, I've just confirmed that David Evans is actually lock-in until July 2022, which I believe settles the argument.
I hadn't checked before, because I've had no reason to think he was selling, and I'm surprised this view has persisted.
Now, who's the muppet?!
From GENI's AIM admission document, 16 July 2021, for its 22.7.21 IPO:
“Lock-in Agreements”
the lock-in agreements between the Company, each of the Directors and certain shareholders, summary details of which are set out in paragraph 12.2 of Part IV of this Admission Document
“Lock-in and Orderly Market Parties”
Jordi Puig Gilberte, Matthew Walls, Paul Foulger, William Rhodes, David Evans, Sergio Oliveró Rigau (held through Equipos MedicoBiologicos SA), Sonia Rodriguez Clemente and Santi-1990 SL (controlled by Nestor Oller)
“Lock-in Parties”
Philip Chesterfield, Richard Emslie, Thomas King, Robert Johnson, Vadim Khail and 244 West Knoll Limited (controlled by Jonathan Pinkus"
Lock-in Agreements
12.2 Lock-in and Orderly Market Agreements were entered into on 16 July 2021 by the Joint Bookrunners and the Company with each of the Lock-in and Orderly Market Parties and the Lock-in Parties, pursuant to which (i) each of the Lock-in and Orderly Market Parties has undertaken to the Company and the Joint Bookrunners, subject to certain limited exceptions, not to dispose of the Ordinary Shares held by each of them following Admission, at any time prior to the first anniversary of Admission, and (ii) each of the Lock-in Parties has undertaken to the Company and the Joint Bookrunners (subject to certain limited exceptions), not to dispose of the Ordinary Shares held by each of them following Admission, at any time prior to the six month anniversary of Admission. Each of the Lock-in and Orderly Market Parties has also undertaken to the Company and the Joint Bookrunners not to dispose of their Ordinary Shares in the period between the first anniversary and the second anniversary of Admission other than through a Joint Bookrunner on an orderly market basis.
https://investors.genincode.com/docs/genincodelibraries/default-document-library/admission-document.pdf
https://investors.genincode.com/investors/admission-document
"And as to who is selling , probably David Evans as most of us here would know!"
Interesting that Don seems to think that he speaks for most other investors here ... that suggests a degree of confidence (overconfidence) in his views that doesn't seem to be supported by the facts.
How is correcting Don's factual inaccuracy ramping?!
Anyone of class, and accuracy, would have apologised for their mistake, and retracted it, but not Don.
That is rather sad.