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I think this is going to rocket! I was expecting a flood of sells today as people de-risk prior to the excess subscription grant but limited sells!
So I have today sold 1/2 my holding but simultaneously taken up my 10% subscription as well as offered to buy back all the shares I have just sold. Strikes me this is the best strategy to maximise profit / minimise loss. If the share price drops towards 15p on Monday I will have crystallised some profits today at 23.5p If I get my excess allocation, but nobody else takes-up, so the price tanks, then I'm no worse off than if I just held If the price stays around 24p and I don't get any excess allocation, then I can buy more if I want with minimal loss Only if the price rockets and I don't get my excess allocation will I lose relative to where I would have been ... but I'll still be gaining Still believe this company should be worth more, but the actions of the Board over the past months have shown what complete self-centred shysters they are and not fit to run a publicly listed company The good news from my perspective is that by doubling down on this punt when I did and by partially selling up as I have I will most likely find myself with my original holding of 15,000 shares but having paid 8.5k and recouped 8k so I'm sitting on a virtually free position
Well yesterday i received the documents from my broker regarding the open issue and I've just instructed to take up full allowance and I've applied for 3 times more on the extra allowances so fingers crossed! Accrol will be back to full swing by Xmas/ January. Aimo. good luck all
It is quite possible either could happen - drop to 15p or rocket back to 100p A lot will depend on the excess subscription ... if there is strong demand and they allow a further increase in capital then this might be a very strong signal for rapid rise, if instead demand is low then price could drop. Portfolio2 : if you've just sold then you are still entitled to subscribe in the issuance ... might I ask if you intend to apply and over-subscribe , or do you not have faith in Accrol turning around ?
Personally I reckon it will take a small dip, but have a look at vrs when they did their offer at 18p last year. Look at them now.
After a placing and open offer at 15p I reckon these shares will drop to closer to that price , so I sold mine .
No **** sherlock...
have full info now on my broker site two options first for 1/10 and then another for excess according to mine you have to fill both allocated and excess pretty straight forward don't know whether i'll get any excess will depend on uptake
This is brilliant i must say - thank you for taking the time. My thoughts: Although market expectations incorporate the dilution effect hence why it dropped to 24p on the 21st, this is based on investors trying to get in on the arbitrarage ie 15p vs current market price. As such, this overinflated the SP (slightly). As most investors will capitalise on this profit by selling the open offer immediately, SP will drop marginally back to around 21-23p. Not catastrophic but id hedge my bets. This is only short term trading and then increase again once they release their financials and show that analyst’ expectations have in fact crystallised. If you have cash lying around, 12-18 months this SP will float around 55-60 mark. From the profit you make on this 15p shares, id buy more effectively leveraging. Buy as much as you can is my advice though DYOR. Im no expert, im just trying to apply logic. Are there any other cash generating businesses like accrol that anyone knows of that i could potentially delve into? Thanks in advance
Your spot on my account has a separate allocation of shares 1/10th of my holdings but am unable to buy as yet. As I want to buy my allocation and more on top, however I have a question. Are these able to be sold as soon as they are bought? Would that not just plunge the price lower? Any info on this would b appreciated.
Cheers for that...I've been checking messages nowt yet
Easy , B1l_y, you should get a Corporate Action within your Online Brokerage account for this offer It might not be flagged for you, but might be lurking within your 'mail' in the online account. I've had this a few times in the past with my brokerage (Barclays) Whatever was your share holding at c.o.b 18th May (the Record Date) divided by 10 is the number of shares you are entitled to buy plus you can opt for more if you want You have until the day before the closing (3rd June) to decide For my part I will take up my entitlement and probably punt for some extra. FYI - as private investors through a nominee account with a broker we stand to get allocated MORE shares in the additional allocation than big stakeholders ... since the broker gets an allocation across ALL of their account holders, so if some don't take their allocation, the others can get a larger allotment Having given this further consideration, its my guess that the price won't drift back towards 15p over the coming week I believe the drop from 26p on 17th to 24.25p on 21st May reflects where the market sees this trading AFTER these offers have settled. By reasoning is as follows : After the bad news of BoD inability to manage the company was announced the sp dropped to 36p then drifted down to 30p ... fair value for a company with 129mm shares. Now add to that 53mm from the placement and 13mm from the open offer @ 15p and you get an enlarged share capital of 195mm @ around 25p. So my belief is you get a pick-up of 10p on every share you subscribe for in the open offer How often do you get the chance to make 50%+ return in less than two weeks !!! I am however even more sickened by the LTIP. If I'm reading the RNS correctly they state that full dilution should all targets be met will be 15%. So these scumbags are in line for almost 30mm of shares over the next 3yrs. That's probably 12m for Wright and 6m each for CEO ; COO & CFO ... no wonder they only subscribe for a few hundred thousand shares with their own money ... they're going to be handed a 1-2mm quid bonus over the next three years for doing f***all
Okay - im in the same boat. I thought that is the reason why the SP dipped with ppl cashing in
Not received and subscription offer letter, email, or message via my trading account not a bean i'll give it a day or two if I don't hear anything I contact them as I want to buy
Has anyone received their 15p subscription offer and actually purchased shares?
No. Best of All
I bought this today will I qualify for it?
FYI The Issue Price represents a discount of 38.14 per cent. to the closing price of an Ordinary Share on AIM on 21 May 2018 of 24.25 pence. The Issue Price has been set at the same price as it was for the Placing. Details of the Open Offer Pursuant to the Open Offer, Qualifying Shareholders will be given the opportunity to subscribe for: one Open Offer Share for every ten Existing Ordinary Shares registered in the name of the Qualifying Shareholder on the Record Date. The Open Offer provides an opportunity for all Qualifying Shareholders to participate in the fundraising by both subscribing for their respective Basic Entitlements and by subscribing for Excess Shares under the Excess Application Facility, subject to availability. Further information on the Open Offer is set out in this announcement and the Open Offer Circular to be posted today to Qualifying Shareholders, along with the Application Form. Capitalised terms are as per the definitions section at the end of this announcement.
Is that regardless of which platform you use? Too many questions and not enough answers on the RNS unfortunately. A lot of waffle in there.
These options are for shareholders at which point? Ie is there a cut off after which point a shareholder is not considered Also, how many options can a shareholder subscribe to?
Will these 15p option application come by post or via my online broker?
Your certificate for options are on their way to your account. Best of All
How do we buy at 15p?
Another open offer . 15p here we come . Strong buy @ 15p have a great day all
Yes sold some at 25.5p