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I understand what the statement says. Trust me, it will not make any difference.
Have a think about how you can short without “shorting”. It’s not rocket science but as I’m a wrong un- you’ll have to work it out for yourself.
they are not allowed to short . . . . .
win4call- I would not hold my hat on these not being shorted regardless of that statement. Its very easy work around for them and very lucrative. These are bad eggs. That is just imo though
Johnjojim - bit of a flippant comment saying that this only applies to the mezzanine loan bit when essentially that is the central part of the whole financing package.
We borrow 1.5 million, issue 14 million shares, get paid on instalments or those shares based on a falling share price and instead of using those instalments to repay the loan we’ll end up issuing even more shares.
Prudent cash handling by the company at the expense of another jolly good rogering for the shareholders. What’s not to like ?
Why don't you ask PF?
That would sort out this little wobble.
I can smell the smoke coming out of Alias' ears atm LOL
if capped we would assume no more selling until May? If so, you would expect SP to move up freely up to final results on the 30th of April?
By then we should have some clarity on Covid-19 and world outlook might look completely different.
Alias - the over invested desparado for a higher price - if they parked them overseas, we wouldn't. They missed a trick and
they parked them on shore so get over it but as they are price insensitive Re sales, it is off less importance- your a very sad and insecure person who vents aggression to mask such traits.
Anyway, according to John, its old news so irrelevant and good management - said with such authority!! - bit like all your Tema assertions.
Everyone bar a moron recognises the dreaded lower of 90%...................................
Are you everyone or bar?
MB: monthly average volumes:
2020
mar 33.38
feb 21.13
jan 22.00
2019
dec 15.62
nov 30.42
oct 7.64
sep 12.63
aug 18.67
jul 53.14
jun 46.05
may 12.31
apr 7.65
mar 4.90
feb 11.39
jan 5.57
off out to buy a turbo trainer
I didn’t trust Peter not to use that facility before, even less so now.
Why use cash to make repayments when he can issue confetti at shareholders expense. Again - see why directors don’t buy ?
The Financing Facility will provide the Company with a £3million Mezzanine Loan Facility which may be drawn down in tranches, each repayable over 18 months, together with monthly cash inflows under the Equity Placing and Sharing Agreement, based on the Company's share price performance, which will go towards the monthly repayment costs of the loan..
Note this:
he Company can if it wishes, elect to convert any of its monthly payments or amounts due by issuing the Investor with a convertible note giving conversion rights equal to the amount concerned, in which case the Investor will have 12 months to convert the note into ordinary shares of the Company at the lower of 14.54p or the 90% 5 day volume weighted average price immediately preceding the date of such notice.
In the absence of good corporate news, more dilution is on the cards.
That's just 500k each per month then. 1m for the two together per month. What's are monthly average?
The Investor will have the right to sell the Subscription Shares, subject to certain volume restrictions, over a 12-month period, extendable to 24 months at the Investor's discretion. Under the EPSA the Investor and its affiliates are prohibited from holding any short position in or to forward or short sell Westminster shares.
Here for 12 months then.
Sadly I think we’ll have this for the foreseeable. The agreement is that they pay us for the allotted shares in instalments for 12 months from when the financing took place. They can sell the allotted shares but there are limits which probably ties in with the 12 month repayment plan.
I guess that isn't disastrous, depending on how many they can sell each month.
Depending on what the numbers look like at end of April, it might even be better if they could just dump the lot then, so at least we wouldn't have this weight on our shoulders the whole time.
Just over 6 million - each !
So how many more have they got to go does anyone know?
The constant selling into any good news is keeping us in the doldrums.
They’re only selling bit by bit because that was a protection put in the agreement. Along with not holding short positions.
Put there to stop them crashing the SP !
Well, it's not great but it is what it is. They are only selling a bit every now and then. Yesterday created the liquidity they could sell into. The SP still went up nearly 20% and it is up again today....so perhaps not so bad
The 2 instos supposedly have limits on the numbers they can sell each month, according to the agreement RNS.
They only have to report when crossing a boundary eg . More then 4% to less than 4%.
The next notifiable change would be going under 3%. Depending on the limits then that could be a couple of months away.
It would be interesting to know if they sold all they can for April in the one day yesterday.
Hopefully means the selling pressure will stop and allow for SP to recover.
At least they have kept some!