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B_M, yes there ‘may’ be an opportunity to buy in the open market at a price below the placing price. But not everyone will be able to manage it on the short period that happens, if it does happen. With the first of millions of shares being issued on 1st February there will be the inevitable churn.
All I was requesting was a fair chance for the shareholders to participate and the company needs to understand that a lot of uk trading has individual platforms and not many use brokers. A lot also use isa’s and pensions. Finance is a complicated beast and needs time to accommodate all.
Shareholders were not included in the previous 2p raise, I’m sure many would have liked to be. But the company this time has decided to include them just that the process is wrong for full inclusion. I think CH in his interviews certainly looked a bit miffed that all shareholders couldn’t take part as he knows what it means and was receiving a large number of emails about it during the day. All he could do though was explain the process chosen as that’s what had been set in the rns.
"Might get ZPHR stock below 5p soon." Think you're right ..
Adon 30 - ZPHR share price is currently 4% above the placing... just buy on the open market whilst the sp is depressed?
PXC did a shareholder placing not long ago... as soon as the placing close period passed the MM's dropped the sp lower than the placing price. It's sp was floating just above during the open-period.
Might get ZPHR stock below 5p soon.
24 hours for shareholders and pi’s to react is certainly not much. When I first read it I thought great that they are involving the shareholders. So sit back and wait for the notifications in my trading accounts. This is exactly what CHAR did a few weeks back with their placement. I was able to accept the offer of my allocated shares and a secondary request to purchase additional offer shares if I wished. All simple and took a few weeks to go through.
However after the comments on here I ‘tried’ to read and understand the information further in the rns. Complicated and time restricted is how I understood it. I bet there are many shareholders out there that don’t even realise this even happened yesterday.
However this morning, first thing, I received my voting rights for the general meeting. I haven’t gone through all this yet but know at least part of it is to authorise the company to release a large amount of shares to market for part of the raise. As a shareholder and not being given a ‘fair’ chance to participate in a share purchase raise I only have one option and that is to reject the terms until such a time as the company can realise a share raise that is fair for all shareholders to participate in.
Note here I am not against the raise as it is an essential part of the growth of the company. But wish it to be held back/ referred so that a more suitable and fairer outcome can be had by all shareholders.
Each individual can make their mind up on how they wish to vote.
Kennymac
Thanks for that info, and I do like the sarcasm of referring to Bhoys as my friend!
Thinking about it, perhaps my main point was why oh why only give us 24 hours? I have never before seen a placement with such a restriction. Was this a limitation put on by zephyr or by turner pope, or for some reason an agreement between them.
The other question your post raises I suppose is how come turner pope could offer you an account directly, when the RNs said they couldn't (or wouldn't?)?
Can't get shares through Halifax either.
Graemesme
To be fair I took a leaf out of your friend The Bhoys book and contacted CH. To his credit, on what must be a busy day for him with presentations, he responded.
He truly wanted the PI’s to have access to the shares and warrants and he got a broker at Turner Pope to contact me by phone.
Turner Pope were aware of HL position but not of other brokers, so was disappointed to learn of the difficulties we face in getting shares in the placing. In fairness he was willing to open an account for me but I had already acquired 1m shares at around 5.3p, so I had covered off my 16% dilution, though I missed out on the warrants, which will be worth a few bob in three years time.
Suffice to say, my belief is that they did try and look after us PI’s but it has not worked out as planned.
Absolutely. The RNS stated that current shareholders could be involved but from what I've seen on here, no one was able to.
Interactive Investor have not had dealings with them either, and said they could not deal with it in the timescale.
This seems a very strange way to make a shareholder placement, not very helpful at all. Why couldn't Zephyr do it in the normal way?
Hargreaves don't deal with Turner Pope so can't buy more at 5p...very frustrating. Joker on their phone started by saying NO shareholder offering. Getting more disillusioned by HL by the week.