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Is it Possible that it was done to close out tax liabilities? I’ve seen that a lot before finals but not to memory for interims.
Not worried, just pondering while i wait.
And who are these “introduced investors” that now have ~8% of the company?
That is true pugg.
“A total of 11,335,746 new ordinary shares of 0.25 pence each, representing the maximum allotment available of the Company's remaining existing shareholder authority to issue new ordinary shares for cash, have been placed by Turner Pope Investments (TPI) Ltd, the Company's broker, at a price of 1.25 pence per share. The Placing has raised approximately £141,696 (before expenses) for the Company. As at today's date, the Company has no further shareholder issuance authority. The net funds will be applied to building the sales pipeline for the innovative membrane process systems and for working capital purposes.”
The Positive is I “should” be safe from a surprise placing here until after the next AGM which will have a resolution to issue more (unless a GM is called prior)
The Negative is me thinking - why did they max out the authority at a 40% discount to prior close? and do they now have enough cash to get to the disposal completion point?
Interestingly, warrants are still live at 6.5p...
hmmmm
When I go to the seaside with the family, I pop into Turner Pope Investments just before we hit the beach
the placing was very tiny as that was all they were legally allowed to raise
It does annoy me that they try and flip it now, given the expected news and subsequent volume.
Looking through the trades since start of August it doesn’t look like they had forward sold prior to placing or sold many if any since the placing, no large trades or volumes over the period since.
Makes me think that they are waiting for large volume news. (Or they used them to close out 6months worth of shorts which may explain why there was not a TR1 since placing )
I suspect they have quite a few considering 11.3 million were placed at 1.25p the other week
The book isn't giving much indication, however the ask is dropping and there isn't a bid amount worth considering.
Not reading too much into that, just watch the trades. I remember CPP was taken to 1p before 38p, 3 days later...
Did try to sell a few different shares this morning to buy SXX at <3p but all 5 shares I currently hold were NT, what are the odds :(
oh well, missed that chance to double my holding here in a day.