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Unless someone knows something I don't, transferring the placing shares into an ISA requires the sale of the shares and repurchase, and with such a massive bid-offer spread, then you're going to lose money big time? I bought a decent chunk of SPAQ in the placing and want to transfer them across using my £20k ISA allowance, but no way I am selling at 11p and buying again at 13p/14p.
But they all exceed the annual allowances for either. Also would need to show a sell, perhaps we might hear something on Monday
If it’s paired trades (I.e same quantity within a few seconds) most likely an ISA/SIPP transfer.
Amazing buys at the close, 1710000 at 15p.
Forgot to add another thought, it could be an investor that bought to get the warrants then sold.
JMole, this is a possible explanation. The spread could be due to there not being a market. To have a market you need buyers and sellers, in this case having just come on the market this will take time. What is this companies value? Shortly they should be doing interviews and talking about what they are doing and how. Andy did this last time with SOP. The sells on Wednesday were because the shares in the placing were tightly held and this was planned to create liquidity of about 10% . I think most of the people that participated did so to hold until a transaction is completed. The sells today could be part of this, why would you buy at 10p and sell after two days for 10p. Possibly a large order from someone wanting to take a large position that may necessitate a TR1. Just a few thoughts GLA
Hell, what a spread! Buy 15, Sell 10 - what a joke!
Will keep an eye on this but certainly not in a rush to buy!
Volume is atrocious.
What’s going on with that massive sell at the bell yesterday, that’s exactly the number of shares that one of the directors holds in a JIM nominee account - but they should be locked in (except in certain circumstances!?).
good point
SOP placing was at 5p
Yes placing at 10p warrants at 20p. It's not going to take as long as SOP, that was more complicated because of the cannabis angle. I would like to think they have a good idea of what they are targeting.
the placings been done at 10p looks like, might as well wait for that to be reached on the ASK. SOP came down to 5p i think, think that was my entry there
dunno if i want to wait as long as Spinnaker again
Up and running. A bit under the radar but hopefully that will change.