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Yes agreed - directors have also been diluted but still intend to buy significant amount - the problem has been finance not products and with new collaborations and increased revenues the sp should recover and grow imo
Forgive me if I'm wrong, but I rather think some are missing a vital point to the director placing allocations. Remember, they are being diluted too - pre-placing the CEO owned approx 2.24% of the company. Post- placing, he would need to purchase 60% of the allocated director's shares (248m in total) in order to remain at 2.24% ownership. This would cost him £372k. So is it not the case of putting one's money where one's mouth is? I appreciate the arguments of the raising of funds could have been orchestrated in a better manner, but nobody really knows that for sure - the markets are tough out there at present, in fact the debt markets are still closed, so far as I am aware. I think patience is required and I see huge potential here. Good luck to all, I hope you make the right decisions for your investments.
Thanks NMH.
Moreover, if they buy as part of the placement, they are adding to the drag on the sp.
If they are made to purchase on the market, they would be soaking up some of the placement shares that new investors will be looking to offload at a quick profit, and it will speed up the ability of the sp to start it's recovery.
Wolfie868
A great suggestion, it does appear to be nose in the trough time !!!
There are some of us who have been invested here for a few years (me - 5 years now) and some of us have aired our dis-pleasures by emailing the company without getting any replies.
I would love to be at the General Meeting on June 9th to personally fire a few "salvo's" at the Board at their handling of this recent fiasco of a "fund raising". Unfortunately living 260 miles away and being a 24/7 carer for my 100% disabled wife, would not allow me to get there.
As has be said on this board before, the Directors knew what they were going to be doing, so have had time to “position” themselves to take advantage for buying placing shares @ 0.25p. The loyal shareholders that the B.O.D. have “in their best interests” so they say, now seem to be “fc*k you jack shareholder, we are alright”
Personally, I would have happily subscribed to a planned placement at .75p, given the confidence I DID have in the company's growth prospects.
In fact, I've previously stated that I would have subscribed at an enhanced sp, if warrants were then available for future purchase at that price once the sp has risen.
There were so many better options available, but the lazy and greedy BoD have acted without any consideration to shareholders whatsoever.
It would be nice to see them replaced by better and more capable people to take the great products this company has forward.
I would like someone to propose that the passing of the funding resolution is dependent upon the directors NOT being able to invest at the placing price.
Due to the oversubscribed fundraiser, their purchases are not required, and why should they benefit from screwing over us existing shareholders?
Director’s can’t buy at the moment, or sell for that matter. They’re in a close period. Which is why they’re giving themselves the option of being able to take part in the placing after close period ends.
Disgraceful considering existing shareholders only hD 5 hours to react.
Directors now have time to move money around so that they can buy the placing shares. E siting shareholders can’t...
It really is a disgrace
All those poor sods buying trx post the manufacturing deal RNS, at 1.2 p, will now need trx to reach a mkt cap of £84 million, just so they can break even.
Total joke
L.
5532mr,
RNS 22nd May.
" The Board intend to subscribe for the Subscription Shares at the first available opportunity following the publication of the annual results to 31 December 2019. This subscription is expected to total £620,000 in respect of 248,000,000 New Ordinary Shares and will be carried out at the Issue Price on identical terms as those of the Placing."
Hope this helps.
Like a lot of others I wished I had sold last week, however, as someone posted further down the page, if the price rises to 1p it gives the Company a market capital of £70m. Well, just remember that it cost not much short of £100m to get to where we are today, with all the licences, R&D etc. So bearing in mind the current share price of 0.45p its still a bargain.
XSG, another of Woodford's investments had a placing a couple of weeks ago at 0.5p and the share price has been steadily increasing it’s currently 1.2 and has been as high as 1.5p this week.
I do feel a little shafted but we all knew they needed money to continue. For me this was always a share that I would make a multiple of 3 or 4 on in a couple of years. I feel confident this will still happen.
My biggest concern before yesterday was that the Directors had such a small stake in the Company.
I haven’t seen the figures yet, it has been reported on here that there were some big Director buys yesterday.
If the Directors have a massive incentive It’s good for all of us.