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Sudden share price movement over the last hour or so, currently UP 20%, and looks like its going to rise further? 0.10 - 0.11. Maybe just the start or another false dawn, who knows? A long way to go yet until its firing on all cylinders, and new CEO with a great reputation has to prove that before we make any serious inroads into the pennies rather than the fractions of a penny we are now.
As expected it passed. I'm guessing price should be about 0.06 tbh?? Based on average
Result of General Meeting
Admission
The Board of Gfinity plc (AIM:GFIN) is pleased to announce that all the Resolutions required to implement the Subscription and the Share Capital Reorganisation were passed on a poll at the General Meeting held earlier today.
The Record date and time for the Share Capital Reorganisation is as previously announced, 6.00 p.m. today.
Pursuant to the Share Capital Reorganisation, each Existing Ordinary Share currently in issue will be subdivided into one New Ordinary Share of 0.01 pence each and one Deferred Share of 0.09 pence each. Immediately following the Share Capital Reorganisation, the number of New Ordinary Shares in issue will be the same as the number of Existing Ordinary Shares currently in issue, in each case excluding the Subscription Shares, which as at the date of this announcement is 2,649,029,913. The New Ordinary Shares arising on the Share Capital Reorganisation on Admission will have the same rights as those currently attaching to the Existing Ordinary Shares under the Articles, including the rights relating to voting and entitlement to dividends. New share certificates for New Ordinary Shares will not be issued and the existing certificates will remain valid.
Application has been made for Admission to trading on AIM for the New Ordinary Shares arising on the Share Capital Reorganisation, and the 750,000,000 Subscription Shares which have been issued pursuant to the Subscription, and it expected that the New Ordinary Shares will be admitted to trading to AIM at 8.00 a.m. on 31 August 2023.
Following completion of the Share Capital Reorganisation and Subscription there will be 3,399,029,913 New Ordinary Share in issue.
Sorry fella - Hope your not in too deep with Gfin - Going down quicker than the titanic 🛳️
Can't even write properly,Oakham
Gfinity is going to be too go back to shareholders for more funding by November.
The share is completely broken and needs to be taken off AIM and go private - Pi’s be aware
I'm doing the same will add on weakness over the next 2 months
Gone NT at 0.09p.
Your last comment. I concur I think you are probably right. Decided to hold back buying any more but will add on weakness.
That was the idea. I have a few at these levels but sp so far not dipping.
My presumption is that perhaps most of the 0.06 equity has be bought not only by dirs but maybe maj shareholders as well.
Hence no dip.
Raise was at 0.06 so may go back down a bit before going higher once it is passed at AGM
Prices have shifted up.
Majority of placing has been taken up by the directors and new CEO.
Up to 3mill shares available but ask for the full is 0.09p.
1mill is currently 0.086p.
Robert keith and new ceo, seem to still hold confidence, would not be surprised if they built there holdings on the dip.
gla
It is very disappointing to be told there will be no need for extra funding and then raise enough to cover about another10 weeks! Big red flag really, but I'll hold and see what happens. Looks like the new ceo has faith??
Interesting day for GFIN holders.
£205,000 in cash pre the raise
£605,000 in cash likely after the raise and fees paid
Company themselves announced costs would be £185,000 a month from 1st July so tough to see how GFIN have raised enough funding?
My guess is the company will be okay given the funding chiefly came from Robert Keith and the incoming CEO?
Had to laugh at that ramp of yours Gordon..."To gfinity and beyond" an hour later fundraiser RNS...
Its easy money for them.
TBH I'm waiting for a lower price before I pile in.
this share is the *****s-drawers of aim.
the peaks and troughs are wild
Wrong board Mr Bfridge…
And TMOR is a shambles….
Is it a Peterhouse stock?
And that cash number was 30 April…. Likely under £500k now and a cash raise on its way?
You mean easy money for the MM's
0.075 - 0.095 is some spread - way over 20% turn for the MM's...
0.095 paid.
easy money.
gla
Share Capital Reorganisation looks like current holders will be given one ordinary share for each ten held, and 9 worthless deferred shares.
--
A company is not permitted under the Companies Act 2006 to issue shares with an issue price which is below their nominal value. The Company's Existing Ordinary Shares have a nominal value of 0.1 pence at present and to enable the Company to issue shares pursuant to the Subscription at 0.06 pence per share, the Company is proposing to undertake the Share Capital Reorganisation, pursuant to which each Existing Ordinary Share currently in issue will be subdivided into one New Ordinary Share of 0.01 pence each and one Deferred Share of 0.09 pence each.
Application will be made for Admission to trading on AIM for the New Ordinary Shares arising on the Share Capital Reorganisation, which on Admission will have the same rights as those currently attaching to the Existing Ordinary Shares under the Articles, including the rights relating to voting and entitlement to dividends. New share certificates for New Ordinary Shares will not be issued and the existing certificates are expected to remain valid.
Holders of warrants over Existing Ordinary Shares will maintain the same rights as currently accruing to them, subject to adjustment of their subscription rights in respect of the New Ordinary Shares, on the terms of the Existing Warrant Instrument, to reflect the Share Capital Reorganisation. As such, upon completion of the Share Capital Reorganisation, each Existing Warrant will entitle its holder to subscribe for one New Ordinary Share and one Deferred Share, subject to the terms and conditions set out in the Existing Warrant Instrument.
The Deferred Shares will have no substantive rights attached to them and, accordingly, will not carry the right to vote or to participate in any distribution of surplus assets. They will not be admitted to trading on AIM and will effectively carry no value.
Not most but just over half.
Bit of a giveaway there then @sharepicks ?