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Announcement in and shares flying
Looks like more buying from the EBT today.
Should get an announcement tomorrow
Another 1%+ of the remaining shares bought by the EBT.
They've gone from 0 to over 1,000,000 (over 10% of remaining shares) in just a few months.
Plus the monthly buys for the share incentive plan
Plus the potential for the company to buy from 10p
Lots of support for the share price
Offer price is now 10p so the company could start buying back it's own shares at below NAV
Just been reading the resolutions from the AGM on 25 March.
Resolution 7 gives the authority to purchase up to 4,361,131 shares (15% of the outstanding shares) but crucially one of the provisions is that the price paid shall not be LESS than 10p
So they cant even buy their own shares right now.
Cash and capital adequacy must be tight, but wonder whether they will if the price hits 10p
Should have the interim results soon. Let's see if they've done as well as Finncap have done
not many posters here but it looks like the 1000000 shares bought by Hearne have not caused the SP to tick up, thought he good news is David obviously has faith here
Every 100,000 shares bought by the EBT is about 1% of the shares not held by the major holders.
Assuming major holders aren't selling (as they could sell some without crossing a % threshold) then this rate of purchases will quickly soak up any other sellers, and rightly or wrongly the EBT might not be price sensitive, and will just keep buying at market rates, potentially lifting the price all by itself.
its got to balance soon
Having just distributed all its shares, I don't know where the EBT gets the £48k to buy 2% of the company's shares again
Distribute the shares to the employees at a low price, then buy them back at a higher prices. Nice.
went very quiet all of a sudden
I don't understand how this is hanging on to 8.5p with buying at 8.7 and sales at 6.65
Surely we're now at about 7.7p
dropping back to 8p today (based on real spreads) on tiny volume.
highest sell prices achieved today too at 7.5 and 7.12p
we might not have seen the share price rise today but we have seen the a higher purchase price than its been for a while, 0.45p higher in fact
To close and off we go....
as at 29 February 2020, the unaudited net asset value of the Company was £5.6m (equating to a net asset value per share of 19.2 pence).... 40p placing... Low free float....
Of this when it pops. Very very close now...
Agree. However a lid is firmly on this for the moment 42% spread and over 9.5p to buy. Once it goes it will be in the 29s in a flash. Patience.
irony is, if they lift the bid they actually make it more attractive to buy, not sell, because buyers wont be put off by such a big spread anymore
Nothing to sell down here . Last placing 40p.... double your money 9.38p paid... straight to 12p with little volume.
Spread 9.3 just pais 7.12 to sell!!. Close it up and a little volume boom time. Looks very primed.
Shame it's a Friday. Needs some interest and a little volume
they're trying to shut up shop for the day