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Moron of the Decade, Sharebel wrote just a couple of hours ago:
"oh and I made a fortune on NNN"
What happened to NNN, yes you guessed it folks, it went into administration.
Silverblade, fair, so you were referring to no primary bid or REX or such like. Agreed.
Sharebel - just a point of clarification - the placing is taking place on AIM. US participants can request shares - but not in the form of Nasdaq ADS shares.
MAJW - my point was to do with a closed placing as opposed to an open retail offering. We have a difference of opinion on the rationale but that's the nature of investing. In the short term the company needed cash and we shall see if this approach works and if there is an appetite to invest at 20p/share. SB
Oh yes, and why would the Nasdaq 20% Rule apply if the main listing is on the LSE?
Just to clarify please is this share main listed on the LSE or the UK market? I was under the impression that this was a London listing with ADR listing in the US but half the time it is as if the US listing is the main one. There certainly appear to be a lot more shares traded in the US than in the UK. Cheers.
Hello SB, good to read yr commentary on this share again. I didn't know about the current nasdaq 20% rule, that's v interesting. Step by step is what I think. It could be an interesting summer indeed! Tbh, I didn't notice the placing of restrictions on who will be allowed to participate... Clarification would be helpful.
This was the third worst near-term outcome out of three possibilities: immediate takeover at higher price, placing at market price or placing at discounted price. I will just bide my time here now. Won't be selling, but won't be buying more either for the time being at least.
Silver it looks like it’s just US participants taking part so no placing stock coming to market for 45 days from 14th and on NAADAQ if at all because in that time we will know the offer price and the offeree! Market makers are shaking out those who believe the SP will naturally go to placing price but that’s a fallacy in this particular case! I’m happy to buy more however as I am sure many are. It’s a win win situation we are fully funded with also an unsolicited approach takeover offer from top tier BIGPHARMA co on the table to which is a hell of a multibag from these lows! Happy to have opportunity to buy more if sellers want to be frightened into letting go! IMHO DYOR
Silverblade,
You wrote:
"and is this why the placing share are only being offered to a select number of participants?"
Well it's being offered round all of the usual bucket shops that offer all of the bottom of the barrel placings, so you're incorrect to assume it's selective in any way shape or form.
You think a placing is to help the supposed offer. Yet is my view that the supposed offer was to help the placing. Keep the lights on for another few months, with another fundraise likely to come. The difference next time, their wont be as many naïve people who will believe the fluff.
Unhooked - good observations - was thinking similar. That said - this placing does raise some interesting points - specifically around the existing primary shareholders (Sinai, Harwood, Jefferson) in terms of what they know about the unsolicited approach and whether any numbers have been discussed. If so - are they allowed to participate in the fund raise; and is this why the placing share are only being offered to a select number of participants? There was no mention of these three parties taking up the placing which was unusual in these circumstances. Wil be interested to see later today if this is clarified. Having a longer cash runway should help negotiations with potential purchasers - bearing in mind they are raising the maximum possible amount based on current nasdaq 20% rule - with the suggestion that a second placing could take place following the AGM. Also stops a low ball offer forced sale. All medicare, reimbursement, FDA, insurance objectives should be achieved by end of 2024. Interesting times. SB
I swear this market is 95% full of "Brewster Millions" wannabees...for anybody not understanding that is people that seem hell bent on losing money every day chasing spikes or in this case paying 33p after a 20p placing announced are they nuts.
Just no logic anymore in this game, it's 99% a ponzi now that is probably going to collapse...we are due a massive crash especially the way the US is chasing everything to record highs and all that fugazi coin/crypto rubbish being valued at zillions...
DO NOT TRUST SHAREBEL
HES RAMPS EVERY SHARE BEFORE A PLACING
CHECK SHAREBELS FORM . COPL ETC
DO NOT TRUST A WORD SHAREBEL SAYS. IT ALL TURNS TO CRAP.
Sharebel, I don't like short sellers or short selling. The point I'm making is that he called a couple of stocks that I was invested in. He was right, and he did short them. Then again, it's always a gamble. Sometimes when investing in any stocks, we need to have a balanced approach. Maybe he will be proven wrong when the offer or bid arrives and the stock is worth over 150p.
Flava,
Humble as ever, fair play. I hope for your sake, a takeover could arrive, but I would say there is very, very little chance of that happening.
This was a classic move by the board of directors.
Sharebel lacks the intelligence to realise when he has been duped. He lacks the humbleness to admit he was wrong. He lacks the knowledge of when a mandatory offer is in play (his "minimum 1.55 offer highlights that".
It is currently NT to sell more than 1000 shares at 28p, so contrary to what Sharebel says about this 'being in the 30's', this looks to be going lower.
This will be 18-20p within a month, bulls will dispute this no doubt, much like they disputed my prediction of a fundraise.
Unlike all the tiny shares you shorters keep banging on about this company is 10 days from the end of a consultation process to extend US Medicare and other medical insurance coverage to it's product, right across the US. That's why people are buying. Because they will get bought out. The decision will be taken within a few weeks or months. I will put money on the US insurance authority recommending that test. That's all that matters. Then the offers are coming in because they have patented the test. The US Government, the Veterans Association have already started buying. The consultation is being undertaken on the assumption that it will be adopted. Read the press coverage. There's a strong business case for it to be adopted for the insurance industry and those pharma companies who sell drugs for chronic kidney disease. This could be part of a preventative strategy to vastly reduce acute kidney disease. That's the stated aim of Astra Zeneca.
I am disappointed that they raised at 20p. Should have raised at 40p but I suppose they will be on the back foot because they left it this late.
Don't blame either me for 'ramping the shares to 70p'. They went there all on their own because the US market took them there.
He called it right er MADGE he’s a shorter of course he’s going to repeat post negatives. Flava is buying how long will he side with shorters lol you keep chatting it down or so you think whilst we buy more! I’ve already bought my first tranche! The cheap stock isn’t coming to market before the formal takeover offer is revealed you must realise that! Strict rules in US re 45 days from 14th and going to US market and the contingency 2nd tranche needs a vote with no timeframe set yet. So where’s the cheap stock actually coming from? Only pi’s hands until they realise the actual state of play lol and they’re being played to sell when too many buyers lined up to await the minimum 1.55 takeover offer! IMHO DYOR
As others have said, it's sensible and good practise to take advantage of a spike in the share price, no matter if that spike was caused by a factual event or just a rumour, to get a fundraise off.
A few weeks ago, when the sp was circa 11p, we might have been looking at a discounted placing, set, perhaps, around the 7-8p mark. In that context they really have pulled the proverbial rabbit out of a hat by raising at 20p and I can't complain much about it. The fact that the sp hasn't instantly dropped to 20p is interesting too. It suggests the fundraise will be oversubscribed. Looking ahead, I'm hopeful there'll be further opportunities to reduce my holding in RENX at much reduced losses.
The position today is incomparable to where we were 6 weeks ago.
Well, you called it right! Credit where credit is due. Let's see what happens to the takeover offer now.
If the offer never materialises, then I'll give you a 100% approval mark. 👍
🤡
Share price and market is not in my control Builder mate flattered as I am, oh and I made a fortune on NNN. You’re still bitter years later? Well right now live prices are its 34 to buy here then into auction for bigger amounts and yesterday’s before we were fully funded with 10 million dollars…you could’ve bought at 37 so I’d say that the market sees this for the reality that it’s a very positive event - we are not going under! And we have an unsolicited offer by top tier BIGPHARMA company such is the extent of our fantastic tech minimum offer has to be 1.55!! Builder stick to the bookies mate and close your spreadbet here! IMHO DYOR
You're full of ramping carp Sharebel. How did it work out for you on COPL? NNN?
People like me were pumping really? … I merely pointed out the supply of stock versus the demand and that we would finish at 40 which we did. There was a pullback of four long days and in any situation where it gets essentially oversold. The share price is already in 30’s so I think you low life’s need to put on your big boy pants and accept that this isn’t the dire event you think it is! The majority of the 1st tranche will be sucked up by the US market with 45 day restriction on selling from 14th and the 2nd tranche which essentially is a contingency tranche has to be voted on and not even on horizon yet for that. The formal take over offer number will be in long before then! I’m certainly no novice but it looks like you shorts and spread betting types are more used to the bookies than the mechanics of the stockmarket. We have funds! We are fully funded 10 million dollars we are not going under! That’s the scenario you all relied upon then the T/O approach offer came in and blindsided you! I’d say that event was critical for you all betting the wrong way and this event today has just quashed your remaining argument! Close close close and cover gents! The ii’s buying these will not be dumping cheap stock on to the market for you any time soon and now more pi’s have their interest peaked to get in. Time to fight it out or be left exposed and lose your shirt time! IMHO DYOR
Talk about playing shareholders as mugs.
Sharebel, you are such a plonker. I bet you tell your mum you will be a millionaire next year.
Not the blood bath I thought! However how can you mention a placing in one breath and have no mention of the current offer in the next, to assure investors that the offer is still in play! Surely that would calm the market a bit
You low life’s need to get a life if you’re making threads just for me! So the any threat of no funds has been disabled and we remain in offer mode with a platform of 1.55 minimum. Shorters and spreadbetters who want to cover have been handed a lifeline. But so do investors want more stock including ii it’s a conundrum. So MADGE your constant lines that the company won’t get funding and will be obsolete aren't looking too clever now. The US Nasdaq will be buying up majority no doubt as their appetite for this is extremely strong. Yes I’m an investor and I will be buying more always have powder dry for opportunities such as this. Companies need to raise that’s why they are publicly listed we are on two markets so have double the attraction for events like this.
MADGE I’ve reported one of your posts because you can’t simply waltz around creating liable against the company I think it’s you who’s the novice here. It’s not like we didn’t know they would raise. Now we are in a strong position whether we accept the BIGPHARMA takeover offer or not. This means we get an offer for what we are worth and not any perceived ‘rescue’ offer. Now MADGE and the rest of the spreadbetters I think you all need to pipe down and calm down because now you are going to have to compete with other spreadbetters, shorters and other investors here to grab some of these BEFORE the takeover offer which minimum last 12 months trading was 1.55 that’s quite a return on a cheap entry now! However I suspect as we are now in a stronger position market will view this as extremely positive move! IMHO DYOR