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"there will be no shortage of buyers below 1.5 "
Book Build buyers will no doubt forward sell into such rise , I suspect
They made it easy to find the bottom didn't they
there will be no shortage of buyers below 1.5
At this rate we will see £1M traded today and that’s without any large trades. Expect to see some large after hours prints for a few days. I don’t think it will take that long to get through the placing shares, we all know they will be / have been forward sold.
I didnt pay 6p darling
Placing overhang could last a month and chance to buy and sell rises
Not really but could you saved you buying these shares around 6 when you can get these for 1p.
ShamI89 are you fishing for back slaps because you predicted a placing? hahaha. really?
we all agreed a placing was coming however as mentioned placing never really effected this stock. we didnt expect a full reset of the stock to 1.0.
i wonder how long you hang about claiming Warren Buffett like respect for noticing a placing was coming to a company with no money left lol!
@RazzaB we are desperate to breakeven, arent we.Looks like you took a position when share price fell from 10/11p level and you decided to jump in to take advantage of these "cheap shares", but I remember warning you that a "placing " is being worked by this company as there were quite a few hints in last RNS.But you thought that I am looking for "cheap entry" and rest is history.Next time if you want to gamble make sure that you read RNS properly there is no point in arguing with someone who has predicted thinks correctly.
ShamI89 you didnt even know this share existed until it dumped and you magically appeared to sing your songs of doom.
you dont know the management at all. you have no experience here.
I do think it will hoover around 1p level, as placing overhang would take some time to clear.I wont trust management though as every placing is meant to be "final placing" but.....
Agreed, but it will ''kiss'' 0.9p again, if not 0.75p
The company is valued at under £10m when it should be over £50m. Uncertainty has been removed but It will take some time to churn the share and have them land in sticky hands, but eventually the value will show.
Number of shares will increase by 185%, to 1,002,072,638 shares .....excluding any Open Offer Add Ons
" The Board has discretion to increase the size of the Open Offer up to an aggregate of 300,000,000 Open Offer Shares "
which means just a 1p increase in the share price will add £10m to the MCAP , excl Open Offer shares
Blimey....truly staggering ....could be a consolidation at this rate ...to try and hide all the horrors
The Board is however now confident the combination of this £6.5m Placing, the £2m Open Offer and the £13m local authority loan is sufficient for working capital and capital expenditure needs over the next few years.
Surface Transforms already has a secured and prospective customer pipeline for approximately £700 million1 of sales, of which approximately £390 million2 is contracted.
Surface Transforms expect to be able to sell as many discs as it can manufacture.
The Company expects to post a Circular to Shareholders tomorrow, 3 May 2024, containing a Notice of General Meeting, proxy form and full details of the Open Offer including the Application Form.
The Company will provide a live presentation to investors and any other interested parties on via Hardman & Co's platform at 12.00 noon on 9 May 2024. Interested parties can register for the presentation at https://us06web.zoom.us/webinar/register/WN_mUnp-l2KTomKBRFgUhFEow
The General Meeting will be held at the offices of Gateley Plc, Ship Canal House, 98 King Street, Manchester, M2 4WU at 11.00 a.m. on 23 May 2024.
I was tempted a few days ago, luckily I was distracted by a household issue. Bought in today, for once I was on the right side. Too many times I’ve been hit going the other way. For what it’s worth I believe once the dust has settled (there’s a lot of dust) it’ll climb steadily to 2-2.5p before too long.
Question is do you trust these jokers with that.They should have brought someone in with technical ecpertise.
Its a sahme they felt the need to telegraph a fund raise for months rather than just doing it. Of-course the share price was going to drop. Now it looks stupidly cheap. They have more orders than they can fill, the capx has been paid for, production is about to start to ramp up and working capital is sorted. May take a while for the dust to settle but this should return to the old 25p level which is now around 9p fairly quickly.
Only on this market could a BOD or NOMAD consider a 66% discounted placing as fair and reasonable, in some countries such behaviour would result in very long prison sentances.
And no doubt the same spivs will drive this 20% below placing price as they clean up on their shorts :-)
I would say a big chunk of these shares have been sold today by existing shareholders unless placing shares have been forward sold.
Maybe.... some averaging down now , rather than buying in the Open Offer ( save on further dilution from that) and also then having to wait to get the new shares
02-May-24 09:33:46 0.984 1,421,175 Buy* 0.90 1.00 13.98k O
02-May-24 09:37:17 0.989 1,414,565 Buy* 0.90 1.00 13.99k O
02-May-24 09:44:45 0.985 1,000,000 Buy* 0.90 1.00 9,850 O
02-May-24 09:45:46 0.985 1,014,823 Buy* 0.90 1.00 9,996 O
02-May-24 09:50:19 0.982 1,000,000 Buy* 0.90 1.00 9,820 O
02-May-24 09:53:55 0.979 950,000 Buy* 0.90 1.00 9,301 O
Did not know I needed your permission to post here.But did try to warn you about "placing"
Sounds to me they need to INVEST in a proper production management team who know what the fook they are doing
Should have listened to me around 4p when I said placing is on the way.But.........
You seem to have made your mind up shamI89 so the question remains. why are you still here?
Thats the concern. SCE is holed below the waterline.
thats why they had to offer us their WIVE and DAUGHTER in this placing