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I have several reason why I bought into this company..... If you own shares in this company you will also have reasons why you bought them. The supplier will also have reasons why he has taken shares. Lets not make too much out of this. If they want to sell then they will probably lose money. It doesn't make any sense to me. My reason is they took shares as payment just like i bought into this company because of the potential.
Exactly finalwhistle, they will lose money unless they sell above the current price, so must be expecting it to rise.
Market cap = £17,000,000
Supplier is given 937,500 ordinary shares @ 10p
This is INSIGNIFICANT. I invested here because of the potential of this company. To me this changes nothing and only makes me buy more at this price!
Have a nice evening everyone.
This is not a positive. They are clearly going to sell the shares.
They had an instrument that paid a guaranteed coupon plus the option to convert into shares when they liked...so they had exposure to any share price rise. There is only one reason to convert....to sell the shares and realise the cash.
Not at all bothered as it’s a piffling amount. Won’t impact the company of share price materially in my mind.
MrN...seems you missed the boat on Intu today, shame.
Off out to sleep
..sorry..meant to add.. boom, boom
They know there is value here,.. even on a red day!! Hysterical.
Ok, suppose they do want to sell. Not much profit by selling here. More like they are convinced the price will rise. Perhaps they are closer to the company than us? Probably aiming to sell with a good profit. 20p+ perhaps?
More like the bond holder needs some funds. It only makes sense to convert if you want to sell the shares. Otherwise you'd continue to hold the bonds, accrue interest yet still retain the option to convert.
This is a sign of confidence. When a supplier converts his loan into shares then he obviously believe that he will get a better return. I know people who don't need the money and they take shares as payments. The reason why they do it is because they leave the shares for few years and see what happens. Do you remember the story about the guy who did the painting for Facebook and he took shares as payment?
Philbatch Brush is it?
thanks win...those CLNs have been around for so long I suspect they are written on slate. I think you are correct and we shall see another 900K shares sold into the AGM hype over the next few weeks...… at least they may get some interest back if they can flip for a 10% + bonus. B
It means they get them for 10p - who knows if they’ll be flipped.
The notes were meant to be redeemed by 1st June so it could be somebody had forgotten they’d been extended to next year and was looking forward to receiving the 93k.
At the end of the day, they’ve chosen to swap the loan for the shares so I personally think they’d then be looking to sell them.
AIMHO.
is that good?......or does it mean they get them for 10p and will just flip them for 11p tomorrow?. B
Westminster Group Plc (AIM: WSG), a leading supplier of managed services and technology-based security solutions worldwide has been notified by holders of Convertible Loan Notes ('CLNs') that they have elected to convert CLNs to the value of £93,750 into 937,500 ordinary shares.
Application will be made for these shares, which will rank pari passu with the Company's existing issued ordinary shares, to be admitted to trading on AIM. It is expected that Admission will become effective and that dealings on AIM will commence at 8:00am on or around 8 June 2020.
In accordance with the Financial Conduct Authority's Disclosure Guidance and Transparency Rules ('DTRs'), the Company hereby announces that it has 160,402,511 ordinary shares of 10p each in issue, none of which are held in treasury. Therefore, the total number of voting rights in the Company is 160,402,511.