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Not really a premium when NASDAQ closed at 80c and the raise is @75c
But it is a premium on the last fund raising which was at 20p (51c)
If a deal is certain, I am surprised they have gone outside the previous funding circle….unless it is a signal to the market that they may get $1 or more.
Getting in their direct strategic positions before offer I see. And happy to pay much higher than current SP. Nice! Patience will pay handsomely here! More money for RENX so all coming together beautifully. IMHO DYOR
We ain't looking at a stalemate. The stock is drifting because volume is low. And yes, the mms will take it lower if they can. Yes, Aim is badly manipulated.
This particular stock will go up as soon as the market thinks a decision on the insurance industry coverage is due. The decision could come any time since the consultation ended in the 3rd week of March. Realistically it's more likely to take between 4-8 weeks. I want some more RENX for this year's ISA but I need to wait for either HARL or CABP to do their thing first. Expect there's time. If an RNS lands on Monday will just sell some other shares and buy more anyway.
Yes it's looks like it's going that way. It's been a sell off all week, although the buying did pick up towards the end when it dropped below 30. If that continues onto next week, then 30 could become the new support level, although I very much doubt it, the market looks depressing atm. Either way surely we must be close to some takeover news. The 28 day FSP period is officially over, although that doesn't apply due to the dispensation. The longer this goes on, the more we're looking at stalemate.
There seems to be a tendency for shares to drift down to placing prices - and Renx appears to be heading in that direction, albeit on low volumes. Wonder how the business fared in Q3 - not due to hear on that for another couple of months - and likely other news will overshadow that either way by then. In the meantime - Armistice have reduced their short position - although even that buying has not helped current drift. SB
And I'm not talking about the Nasdaq, I'm talking American Pink sheets.
Last year this time the SP was 87p, in July it hit a high of £1.45. only 3 years ago the SP was £11.75. Then in the space of a year it drops to 10p. Unbelievable. Now I understand that AIM stocks can be very volatile but how do you go from £11.75 to 10p in under three years? Something very very fishy. MMs playing with the SP however they like and the FCA and all these other impotent organisations say and do sweet nothing. The AIM is the biggest pile of poo out of all the markets in the world. Rip off Britain is an under statement, it's an utter disgrace. You stand more chance with the American market and thats a fact.
Thanks for replay SB
Ahh OK, was hoping it was going to be the big announcement
The Extraordinary General Meeting has been arranged to approve the issue of a further 26m shares at 20p to comply with nasdaq rules which curtailed the original placing to 20% of shares in circulation - and resulted in 20m shares being issued as part of the first placing. Sinai and Harwood have already confirmed they are subscribing for additional shares - will see who else participated in due course assuming all motions are carried - which they will be. Nothing else at present. SB
Good news even :)
Hope it's bl00dy god news, I'm sick of all my investments being burned to ash :(
Big problem with AIM these days is lack of liquidity for loads of shares....
A lot of us knew how this would go after the "offer" announcement. We all predicted the discounted placing and now it slips further with no more updates about the "offer".
The whole of AIM has become one big joke. No wonder people are investing abroad or in other assets now.
Mikodox, you could be right. We could both be right. Once the reccomendation lands there could be more than one offer. More than 2 if you look at who is interested in ckd and diabetes 2. Astra Zeneka and Thermo Fischer have drugs for ckd. Eli Lily and others have drugs for diabetes 2 weight loss. It will grow like a snowball.
Trickymatters - I've got a funny feeling the bid will be coming from Mount Sinai School Of Medicine, they already own 16% of the Share capital. Here's another reason:
https://reports.mountsinai.org/article/neph2022-_1_renalytix-goes-into-clinical-use
Easy to drive the price down with fast algo trading. Biotechs getting smashed last month again, XBI index off 10% in the last month a good indicator. Any hints of delay to interest rate cuts and biotechs are one of the first sectors to get knocked down.
Will be the next substantial catalyst. Then they're likely to confirm the bid. It could come anytime. The consultation ended mid March. The US government have contracted for this test and the insurance authorities are already signalling that they are inclined to use the test for those eligible. Should triple bag at least imho.
Wonder if the bid story was just a scam to raise the price for placing?
WTAF was that all about, loads of £32 sells...? Looks like someone is trying to send some sort of messaging unless it was an algorithm going nuts...
One of the transactions today is mine and it is a "buy" and not a "sale" as indicated.
As the prices of all transactions this morning are much the same , I suspect that most - if not all - are buys.
Yes very strange, I’ve not seen this before if anyone has any thoughts??
Yet broker still allowing trades to be placed
No trades.
U.S pre open 6.7% up
What's going on with this share.. still showing yesterdays closing proce