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I imagine the MM's are looking for buyers. Good opportunity for the flippers to get shot. Why this RNS after the placing.
RNS out
A1M, agreed. I presume that it went to cover a short position.
A1M, based on my calculation MTR subscribed for £45k to maintain their % exposure in THR!
Good Morning Folks, I have also received a reply from Mick this morning,in which he states-
'Please note that Paul Johnson did not participate in the placing and I firmly believe had no prior knowledge of the placing prior to the bookbuild'
He also states that he believes someone approached regarding the placement has talked or traded and the company is trying to find out who.
He makes a really good point by saying-
'I am familiar with placings on the ASX where practice is for a trading halt during the bookbuild period. This is a good mechanism to prevent this type of behaviour, however it is not available for AIM.'
I do know PJ was down £1.5m on this about 12 months ago so I wont guess what his final loss was. All this talk of fca stuff on the face of it seems premature. Dont know what's gone on. Amd suspect certain people have an agenda of spreading negativity here.
That would depend when it all happened. And it's the investors responsibility to notify the market.
Can only go on what the company is telling me/us. All the potential and no sentiment/funding its bloody frustrating
Thr only found out about PJ selling via an email on friday, they do not know If he is out or sitting below 3%. He did not take part in the placing!
I recieved an email from mick this morning.
Ultimately Mick is responsible...
a1m, not sure that Hybridan are complicit. I got the sense that they are very frustrated with the whole process and are somewhat bemused by the lack of a deal. They only took Thor on a few months ago ,getting involved because of what they saw as value in the assets.
Won't take Mick long to get rid of 350k IMO. Interesting to see what happens next.
Lets hope he made a large loss.
THR bought some stuff from PJ a while back for knock down price at the time of 0.85p. That seemed a bit dodge to me.
I assume everyone here who is unhappy will be voting against the re-election of the incumbent directors ie. Alastair Middletone and David Thomas at the upcoming AGM who have both presided over this horrendous share price decline?
A1m, my understanding from Hybridan regarding the placing was originally it was to be at .30 but there were not enough takers. If i understand correctly,it was a very guared conversation, significnt shareholdres were asked at what price they would participate. The indication was that without the placing at whatever price it was lights out. The situation it seems was desperate.
At that time it would seem that there was no official notice that Paul Johnson was not still the second largest shareholder.
The main problem to me is the total lack of disclosure and tranparency from PJ.
I have emailed the company suggesting they investigate PJ's dealings. If there is nothing to hide it shouldn't be a problem.
A few weeks ago this rat released an interview/blog highlighting all the unbelievable opportunities THR has and the potential value. All waffle to manipulate the market. I want to see dates etc as is the norm in an RNS of this nature?
This should be a subject of the AGM hence why I have not called for Mick’s head on a platter.
I don't think the issue is paticularly that he has sold,it is the timetable of events.
As i stated it will have taken a while to sell that many shares. Would he not be obligated to repot to the market after each transaction for the purpose of transparency to the market.
How much notice did he have of the placing?
As a major share holder he will have asked to participate.
As he has not notified the company till to today that he has sold,would they have offered him many millions of discounted shares believing him to still be a significant holder?
Hybridan indicated the placing price was essentially set by major shareholders, i suspect they had no knoewledge PJ had reduced his holding. How much influence did he have re the placing price.
I think the company should instigate an enquiry into PJ's dealings here.
As i also stated he is free to sell at anytime but the correct market protocoll must be followed. on this occasion i smell a rat.
CGNR is another one. Although why he put money in there is beyond me
Johnson is nothing more than a gambler who got lucky big time ... Once. ! He made significant recent investments in THR, SRO , ECR, ROCK , LION , ARK and must be sitting on huge losses. So much so hes had to go back to work. That said hes got his own personal situation to manage like all of us and its all too easy to jump to quick conclusions.
I asked the broker Hybridan weather PJ had paticipated in the placing. They were very professional and would neither confirm or deny. I know were my money is.
I suspect what little was left of PJ's reputation is now destroyed. I once read he is known as the'Fagin of AIM'
I await Doc Hollidays assessment of these developments, but i suspect surprise won't be one of them.
There you go folks, a significant holder was feeding the market with shares thus destroying the price, as i predicted 15/10/19. Going from 5% to no discernable interest is millions of shares, which in a fairly iiiquid stock like Thor, will have taken a number of weeks to achieve.
While PJ is at liberty to sell when he wishes this has been done surupticiously, with noTR1 until all his stock is sold. This is a major reason the placing price was so low. What price he has replaced many of his shares via the placing.
Looks very dodgy to me.
historically,if you go back to 2010...thr average roughly 2 dillution cash calls per year.
so atm,we're a buy.
but in 5months time,we're a sell.
so if mollyhill or copper mountain news lands and its good news,then u know what to do
gl.
I think we are going to get diluted a few more times down the road in all honesty, its all been badly handled this year and gone in the wrong direction.
Ideally the directors should be putting some of that money back into the company and that should be a major talking point at the AGM.
Any refusal to do so then its time to replace them with some who have some faith in their own abilities and the assets Thor have in the ground.