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i personally bought 30K worth at 1.18 and sold at 1.81 but have bought back some at 1.68 so maybe back to sqaure one Monday but will hold for time being as this was a great company for many years
The major shareholders will take, most if not all of the placing shares in my opinion.
I've seen this happen before in another sector ..placing at a discount ..price dropped - within a week or two it was 15% higher than before the placing.
Now I'm not saying that's going to happen here, but I don't think it's all bad. Just bad timing on my part. I will, however, be subscribing to the placing, if the terms and price is right.
2 weeks I think you mean.
In any other market than the present one, I'd say the same thing, but just look at the DOW and FTSE.
Also, this is very ill-liquid with a small number of shares. It's prone to big price swings.
my advice is dont do anything Monday morning as mm's will take advantage but i agree this should make the company much stronger
also very wierd how we went from 1.18 to 1.85 in 7 days
market cap was to low anyway, i personally think the the placing will be over subscribed as they will be able to own a large percentage of global brand which would be much cheaper than trying to buy exsisting shares.
Plus its the BT pension fund, doubt they would not complete.
They've exchanged contracts (23rd of March) which means all is done, bar the 'rubber stamp', of completion. Although possible, it's rare for companies to back out after exchange, as they will be sued (breach of said contract) at their own cost and will lose whatever deposit was paid. Moreover, the deal was done, when lock down and broader COVID situation was very much in view. It's impossible to imagine it didn't come up in negotiations, prior to the exchange.
With the £72m in June due to the property sale. It is concerning why do a share offering . Or has that deal not done due to the uncertainty of the price of the free hold now ? Just a thought