Adrian Hargrave, CEO of SEEEN, explains how the Company is now funded through to profitability. Watch the video here.
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Is this true ?
Not yet. But it’s subject to raising £3.9m from the Rex and open offer which isn’t going to happen so it’s only a matter of time before the company goes bust now.
Sorry, I misread, ‘ Completion not cancellation ‘
Either placing happens and price crashes or it fairs and company goes bust!
Hobson choice !
"The Company announces that it has successfully placed 138,799,994 Placing Shares at the Issue Price with investors made up as to 11,173,994 Firm Placing Shares and 127,626,000 Conditional Placing Shares resulting in gross proceeds of approximately £2.1 million."
So that's going to keep the company going for a while.
Eureka01: I believe only for 5 months right????
Looking good ..imho....back up today..fingers crossed..GLA LTH,s
Can someone explain REX
Please and thank you
Onlyprofit, yes, there's a bit in hand already but hopefully there'll be good news (NICE approval etc) by then.
Cheek and his mucker taking £10k worth of placing shares each!!!!
What signal does this send everyone else!!!????
PATHETIC!!
Yep I,ve sign up for shares...now funding is out of way price will go up imho..!!
To clarify this utterly shambolic mess of a placing, unless private investors stump up £3.9m, the only money raised by the company will come from the 11m first placing shares which was raise a grand total of £165k
"As previously announced unless the Fundraising, in aggregate, raises gross proceeds of not less than £6.0 million (the "Minimum Proceeds") it will not proceed other than the Firm Placing (should that element of the Fundraising become unconditional). Accordingly, the Company needs to raise a minimum of approximately £3.9 million (gross) from the REX Offer and the Open Offer so that the Minimum Proceeds are raised."
The FCA won't let us invest in Bitcoin, yet they'll allow people to buy utter shi*e like this and see their money go up in flames.
Someone bought £10k here just before close yesterday at 3.45p, so that's £5.5k down the drain unless they stump up more money?
I've never seen anything quite so ridiculous. How much PI money has gone in here since they pumped it on the NICE recommendation a month ago? Absolutely shocking that behaviour like this is legal.
Really confident price will rise today...don,t know why but just got that feeling..!!..two world first products institutions will gobble up these shares no problem...well that's what I hope anyway...GLA LTH,s
Absolutely no chance
PS...newbies....please do your own research ..before investing here
All that rns is going to do is attract the day traders and the true lth's are going to get badly punished this morning. It will be like watching a car crash in slow motion on opening imo. Ouch.
As with all placings this will fall to placing price or slightly below and stay there for a while.
Unless there’s news from NICE sooner than July this will not rise.
Yes price will go down on market opening as investors take there positions ..but then price will rise...imho
Having said that, most thought ENET was dead and buried with the death spiral ambit it then rose from 0.35p to 3.5p.
This could only do something similar if some commercial deal comes off NICE news for the stroke test.
SP is going to take a pounding this morning at the start of trading.
Quite reasonable to suggest the SP will visit and sit below the placing price fwiw.
Systemzero, why is the price going to rise when the entire placing is dependent on £3.9m being raise via the REX retail offer & open offer? At 1.5p the placing price values the entire capital of the company at last nights close at £2.1m, yet they want retail to save the day? Who is going to buy shares on the open market in this situation
Basically, whoever is behind the conditional £2.1m will only invest at 1.5p and wants nothing to do with it unless private shareholders stump up £3.9m, at a price point that these nameless 'investors' have decided is fair
If it goes below placing price, it spirals downwards because it’s a bust.
If you can buy in the open market at or below placing price, within an ISA, why would you buy through the open offer or Rex which can’t be done in an ISA?
I agree. Most traders will be buying through their isa sub 1.5p on the open market imo.
Shearclass..yes you could be right ..but I believe this going to be over subscribed...that's my only hope that i can salvage some of my investment..
Going below 1p