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Exactly what I said months ago and repeated more recently (Sirious)
Si, I agree with you, there is a nasty smell about this. Push down the SP, the next thing we see is a pathetically low bid for the business with a nice offer to the BoD, leaving the loyal shareholders screwed
Think Infa have been "on the cusp of a transformational change" for a long, long time.
I've noticed those trades, LG. Have seen similar paterns before. Lots of small trades, right on the bid, before it then drops a bit more. Almost as if they are trying to cement the price as low as possible and force down to the next level.
Watching and waiting to see how much lower this goes. If it settles between 20 - 22p will pile in with a big chunk. At the last minute decided against the O/O at 30p and am glad I did.
The recent paltry director buys and lack of material progress is something to be concerned about and the company are providing shorters with the perfect opportunity to short this.
Until the bod announce a game changer RNS to stop the rot then the SP will keep drifting....
From 5th May Placing RNS...
"The Company is on the cusp of a transformational change following the award of the Saipem contract"
So nearly another 2 months on, I hope for the bod's sake this "transformational change" is imminent!
Just leaving this here… https://www.allenovery.com/en-gb/global/news-and-insights/publications/court-of-appeal-decision-on-code-of-market-conduct
Bod to blame imo, they've allowed the company to become vulnerable to this sort of practice....
Ban4118 I don’t know about a shorter or not but there is certainly an odd pattern of selling. I doubt there are a multitude of sellers each selling small amounts of shares at such frequency. More likely some type of manipulative behaviour. It is all a bit odd and should be looked at.
I have heard from a credible source that the shorter is an MM. It makes sense as they can go short and not inform the market as they control the book. Winterflood have previous and my money would be there.