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But the PI's weren't privy to the nod & wink were they?
Makes you wonder where IF acquired the placees and why he has absolutely no interest in rewarding shareholders who have paid his very generous salary for a number of years.
Yes, things are beginning to take shape but there's a long way to go. Maybe in 12 months time we can look forward to a profit.
Agree. There just bitter because they thought they would buy at 0.50 and less. IF really needs some praise and thanks for pulling off the bi-health deal and ecoomerce deal off FF+ and the fantastic placing. I do feel frustrated with DSM though. Can't believe we don't have a biggy in the USA. Perhaps they may jump in when they see how much bi-health make next year or 2022 on FF.
gixer
excellent summary, I guess Raymond’s 2.6p (pre SIS) is the one that most remember.
W$
colbaltblue, previous placees?
I am sure they are probably more than happy
August 2016 - 0.24p
May 2017 - 0.50p
July 2017 - 0.50p
September 2018 - 0.40p
December 2019 - 0.40p
and yesterdays at 0.75p
Even the Primary bid placing in July 2015 was at 0.45p
All in profit if they held.
So it's a nod and a wink to the chosen ones invited to take part! The PI is shafted as usual. Mind you, previous placees must rue the day they took part.
"It is expected that admission will become effective and that trading in the New Provexis Shares will commence on or around 23 December 2020 ('Admission').
Could be after Christmas for any TR1
Total shares in issue right now = 2071m x 3% = 62m
Total new shares = 133.3m
Total shares in issue after admission = 2204.3m x 3% = 66.12m
When the new shares are admitted any new Investors breaking 3% should inform the company and any existing shareholders crossing the 3% or 1% thresholds should also inform the company.
With such a large Placing, Monday or Tuesday could see a couple of TR1s....
You can go inside legally as long as you agree/sign to the fact you will not sell any of your shares until the information you are given is made public to the wider market. The RNS clearly states that those who went inside are no longer in possession of any information the rest of the markets don't have now.
'those persons that received such inside information in a market sounding are no longer in possession of such inside information relating to the Company and its securities.'
It seems they went inside prior to the previous RNS regarding the new Distributor and that was they information they received before that and this RNS was published. So those who went inside are free to sell their shares once they are officially theirs.
Hold on. How can anyone be given inside information legally?
So the investors were legally given inside information (MAR) to persuade them to invest in the company , bodes very well for the future .imo
Good word that, for any company.
Ambition
I did mention some time ago that increased sales would require increased inventory. Scaling up for demand from a country the size of China gives margin benefits for existing sales too. It looks to me that the discussion with investors involved them favouring an expansion of market reach without the need to watch the bank balance so much. If that's the case, a difficult period of the company's history has passed. The price agreed underscores the recent sp progress, leaving the detractors looking more than a little foolish IMHO
Fair play to Ford, I was expecting something in the order of 250 to 300k to be raised, so raising a million shows an ambition , on the direct sales into China, beyond what I anticipated and there was plainly an appetite to soak up the placing.
The only downside to that is that that ambition suggests to me that Blue Hat, and/or main retail sales are a bit off yet, otherwise the less risky option would be to wait for ByHealth to start putting those orders through to DSM, and just count the cash coming in, but todays events have plainly illustrated wtfdik very clearly.
BB
I agree but we know how p1ss poor the board are at sharing information..........so you have to read between the lines.
Hopefully the January RNS will divulge more on it
Agreed, expecting us to finally get some meat on the bones and I expect to be out at some point during 2021, Its been a long wait.
If the report strongly suggests that there are sufficient funds until profit and production is happening in China, then happy days. Investors need to see firm projections not cut & paste platitudes.
Very true, but that's no bad thing after a discounted placing
Complete and utter indifference I would say.
Well that was a very pleasant surprise this morning. I had thought they'd gone quiet about the impending raise...........this is fantastic news. A much bigger raise than expected but should prevent them from living hand to mouth and actually invest in capacity to reduce costs/create economies of scale. It would appear the Chinese distribution agreement has also played a significant part in the size of the raise, which indicates there's likely to be strong demand. The fact that the raise was done with minimal discount is very pleasing and surprising (I was expecting 0.5p). It really does appear we're reaching inflection point. GLA
DP, should have gone to Specsavers. Have another look.
A massive fund raise and hopefully the last one but we won't know that unless an indication is given in January. Would have been nice to have been invited to contribute but that was not to be. Clearly delaying results until the last minute in the hope of a positive report from China as the accounts would probably take about an hour to compile so no other reason that I can think of. Perhaps Ford is considering a salary deferral scheme until the company makes a profit! (What was that? A flying pig!)
Maybe a new floor under the SP but 3/4p after 10/11 years is not exactly a success story is it! Neither is 2.3bn shares in issue.
pursuant to AIM Rule 18 of the AIM Rules for Companies, the Company announces that it now intends to release its unaudited interim results for the six months ended 30 September 2020 in January 2021.
In the RNS the £1m raise is there however no information about HY results. Did you guys find that info or I am missing something here?
gixer,
Fully agreed with you. To raise £1m with only 6% discount in this current climate is a huge confidence on the company. It seems some big news are on the way very soon.
Could be CB or Zeus. Perhaps there trying a big short. Wonder when we will get an holdings RNS from SL
Big raise. But, at a very good price and very likely to be the last one. No major sell off, appears to have been well received by the market. Onwards and upwards. Blue hat can't be far away and hopefully accompanied by a large product launch. Target, 5p 2021.
Wellsite LoL