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Time will tell BWM. I won't risk selling though. Have a good week.
And yo yo it will down to. 10 before rallying to. 18 by fri
Should be an interesting week indeed. If I wasn't so confident I'd be terrified.
This will hit 0.17 tomorrow imo. Any placing will be at least at 10% discount to current SP...
It was the same for Reabold if you remember, the placing presentation found its way onto the forums before the announcement... it shouldn’t happen and people who do it should be investigated IMO. The Company executives would have no control over it.
Nice chance to Top Up maybe ..
: )
Sorry - I took so long typing my last post I didn't see yours.
No placing arranged over the weekend - brokers playing golf.
Traders will be active next week.
It looks appalling because clearly someone has received placing documentation, told other shareholders there will be no placing whilst selling as quickly as they can (Wednesday), then signing up for placing shares. This is not the fault of the company - this has happened after brokers have been instructed.
Seriously BWM, I don't think the placing will be done yet, otherwise there would have been no need for the after hours Friday RNS.
From the position we find ourselves in, I think the placing price could be around 0.17, but NO-ONE yet knows, not even David Bramhill. I'd be amazed if I can't buy below 0.17 during the week. I already have a shed load, and see this as an opportunity to get a bigger shed. The oil is still there, and I'm in for the next 18 months if that's what it takes.
I agree, interesting day tomorrow,
Just to clarify BWM, when I say the market will set the placing price, I don't mean the share price will be stable, but it will calm down by the time the placing is announced imo.
BWM I think this week will be a bloodbath, and I'll be buying.
So no Monday 7am RNS re completion of placing, imo.
Also, clearly work is still ongoing to fill the placing, otherwise DB wouldn't have felt it necessary to issue Friday's RNS.
Sorry BWM, I meant to say placing price, not share price.
I think enough information is already out there for the market to set the share price. From this will be worked out the placing price, depending upon demand.
DB spoke with the city money men last W/E, he will have been given his answer by now.
If the shares are not suspended on Monday morning or UJO do not deliver an RNS to quell the sell off, the SP may well drop or be held at the level the MM's expect as the agreed placing price.
On the other hand (my clutching at straws moment) the SP could rise, we may have large buyers in the city who will be well aware of the current shenanigans and may see this as an opportune moment to buy a large chunk of WN through UJO.
DB, I expect will have given an indication of the price he was looking for last w/e before it was sold down as we all watched in horror at the sp dropping by 30% on increased volumetrics. In any case im holding until my price is met, the value of WN will eventually shine through.
The price set by the market during normal trading will determine the share price. Once signed up, participants of the placing won't be able to dictate the price.
BWM,
Agree. We do not know when the sounding started, or the deadline for interest.
I would hope for a 7am RNS to confirm the price and amount for an orderly market, but it is also possible the deadline may not be until (for example) 11am on Monday, so a 12pm RNS could be possible to confirm.
I don't see the possibility of a trading suspension on the basis that no placing price has been mentioned.
We will see soon enough.
gla
Oiler I'm as unhappy about the placing happening now as anybody but I don't blame DB. It's not DB's fault that the shares were heavily sold following the volumetrics. He wouldn't have wanted to put out an RNS after close on Friday either but his hand was forced. We will probably never know why the raise is happening now be he might have been under pressure from Rathlin/Reabold to prove that UJO was committed to the work programme for WN next year.
Tymers. There are people trying to deramp and drive the share price down, posting on this board now.---Sick to death of hearing "mates rates", or the old favourite "rinse and repeat"--"rinse and repeat", every time i close my eyes i see washing machines.----What really pees me off ,is the inference that anyone who made any money here did so by market manipulation.---A lot of people here had very low entry points, because they had the " bottle" to take the risk, of course they made money and they deserve every bit of it, and i would think most them of purchased shares again at a much higher price .You have to know how to play the AIM market , and even then its a mine field.---Whatever happens Monday, its not going to be the end of the world.---Good luck all.
I know many will disagree and talk about market abuse, mates rates, etc (and maybe rightly), but I see the fact that AIM is not seen as a level playing field as part and parcel of the risk when investing in AIM. This shouldn't be the case, of course.
Not suggesting it is right, in anyway, just that it is something I accept and invest accordingly.
There is strict regulation around market soundings, and (again, imo) this is not abused as widely as many would like to make out, and I am particularly referring to within the Finance industry itself (brokers, buy/sell firms, II's, etc) in this regard.
It is in the company's interests to attract investors in a placing that intend to be here for the long term. Not always the case though. I posted yesterday, that I believe this will have been offered at a price range and potential investors will have been invited to 'bid'. I would hope that the announced price will be at the higher end of an 0.18-0.20 range, i.e. a small discount to Friday's ask.
Sp is about money in the bank and revenue currently its if buts and maybe as such to continue to trade ujo require yes investers money if your not happy to make that investment so be it but ujo require additional funds. Glh
Based on the conservative analysis of what is recoverable at West Newton so far being worth £840m it would be outrageous for any placing to take place at sub 0.2p. I hope they can get an RNS out first thing Monday because a falling share price is totally unjustified and only plays in to the hands of those who are trying to drive it down.
Thanks for that opinion Croq. The placing when it is agreed should be conditional in that the shares cannot be sold/lent out for a certain period given that they will be at a discount. Probably wont happen and that the additional shares issued will be sold off quickly. A very dangerous market is AIM if you expect a level playing field.
imo, a 'sounding' means that the company (via a broker) is currently in discussions with various entities (e.g. II's, any TR1 holders, asset managers) to gauge appetite for investment for a cash injection at a fixed price (or price range) at a certain point in the future (usually a short timescale).
The IDEA (don't shoot me down) is that anyone approached is 'blocked' from trading until any price sensitive info given to them as part of these discussions is released to the market (as part of market abuse regulations). This aspect is clearly a sore subject for many though, so expect plenty of responses on this.
As the announcement seems to have been forced to be made after hours on Friday due to 'leaked' info, I would expect an RNS at 7am to announce any result of the placing, and advise the amount raised and at what price.
Any new shares likely to be in play by the end of next week which I am sure will raise further comments about forward selling.
The company should be keen that any new shares stay in sticky hands and the broker will most likely be speaking to folk who have participated in fund raising previously together with potential new II's.
Next week will be interesting, for sure.
All imo, of course, Other may/will view this differently.
gla
"The Company confirms that it is in the process of taking market soundings from investors in regard to an equity placing of up to £5 million. ". Can anybody fully interpretate "Market Soundings" as to the real meaning as i read that no placing has been put in place as yet ?