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So if I understand correctly retail can buy 9 shares at 1p for every 10 held (as of 20 May). So on a holding of 100k shares, buy 90k more @ 1p = £900. Right? Brings the average down at least… ho hum..
Is this right or have I missed a trick? Now just need to find the cash to buy even more POLX (eek)… seems a no brainer to get involved at 1p to average down, especially with today’s price action. In for a penny, in for a pound as they say! *weeps*
You aren’t averaging down. A company worth £8m at 4p is now worth 13m at 1.3p. Approximately.
Fair enough but surely an opportunity to (almost) double up below market price is too good to pass up… long road to break even still but for the sake of relatively few extra ££ I’d rather that was at 12p ish rather than in the 20ps
The company WITH cash is viable. The company without was not. So it is certainly worth more today than yesterday.
They certainly need to do a reverse split in the future and knock a zero at least off of the number of shares outstanding. Economically neutral but optically better.
Will this offer come through our share dealing account or do we have to sign up somewhere?
Offer came few hours ago, u have until June 6th to take it up
Letter also says can apply for more than the 90% entitlement but additional orders subject to scaling back…
Same for me BS7, at least I will have been paid then :)
This looks like an interesting play
Not sure they'll do orders chronologically... re shares.
I have a feeling we been partially shafted in letting new buyers have a chance for same offer as long term holders surely we take precedence on those jumping in for first time yesterday. It should have been record date as it will be over subscribed I think so don't rely on it. I'll be happy with same as I got already but will request an additional which I think will be lucky to get ... any thoughts?
Jacobjohn - not sure what you mean - the record date is 6 pm on 20/5/24 so no new holders/ buyers since the announcement of placing are eligible to apply. Placing shares are purely for existing holders ( before Tuesday)
From today’s circular:
Further details of the Open Offer and the terms and conditions on which it is being made, including the procedure for application and payment, will be contained in the Circular, extracts of which were contained in the announcement on 21 May 2024 and which is expected to be posted to Shareholders later today. The Circular will also be available on the Company's website later today: https://www.polarean-ir.com/content/investors/shareholder-information.
If you don’t subscribe to investor info keep your eyes on the website this afters.
Was adamant was 20th record date but stuff read since suggests newbie scroats at 0.011p might get a sniff I hope they don't. This should be shared amongst lth for suffering
This is correct. Only a small amount of the new shares are being flipped.
Nukem and Bracco long term holders with a vested interested.
The Directors certainly will hold.
The open offer shares are just averaging down long term holders who will still need a decent rise from here for break even.
I suspect we'll see a strong move from here soon.
I'm on a high price , average 50p , so might be able to equal that at much lower cost., Yes I was duped by Justin waite.
This a slow burner, but once started will pick up a pace , end of 2024 imo 5p.
Anything less than 10p by end of the year and I’ll consider that as money wasted
5-10 I'll be happy with that. We need to keep deal traction and revenues increasing then all this trauma will be forgotten
Has anyone had the opportunity to buy at 1p yet?
A strong move from 1.3! Well that won't be difficult with the 60% plummet this week.
No
My broker hasn’t offered?
Has anybody else’s? I’m with HL