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Dave advffffff
I won’t go premium on that board Dave
Thanks for stopping me posting
Sign of modern times, instead of people buying the dip others are selling at the lows of 2p, 2 days earlier they could not buy this fast enough at 2.3-2.5p range, the mm's are going to milk this, it will take a fraction of the sales to drop this 10% than what it would take buys to make this rise 10% mark my words
No Trotsky, Amati have not been selling down their holding. Their tr-1 filing was entirely technical as its evident they didn't participate in the recent fundraise and thus were diluted from 7 1/4% to 5 1/2%. They haven't sold a share and are very unlikely to anywhere down at or near these low levels.
Kats, According to the note to the FY22 accounts both Rockmasters and Spark Advisory's warrants had an exercise price of 0.1p (£0.001) but you are right about the subsequent placing warrants (in my haste I misread the RNS and thought they'd subscribed for one new share at 10pps plus a warrant - Doh!).
Spark Advisory have definitely exercised their 467k warrants (they were due to expire on 22/07/23. Rockmaster on the other hand appears to have until 18/09/2027 to exercise its 9.34m warrants but doesn't appear to have exercised any since the FY22 accounts. As far as I can tell, Rockmasters don't have any notifiable shareholding in ZED so could only leverage their warrants if they owned, and sold, less than c4.2m shares and/or utilised CFDs or their like.
The warrants issued to Donald Nicholson, Four Grant Investments, John Harvey, Andy Muir, Nick Luckett and Amati Global have all since expired unexercised (they had an exercise price of 19pps) and it would appear that Brandon Hill Capital's warrants are likely to expire unexercised on 22/07/24 unless the share price moves above 20p between now and then.
Amati do appear to have been selling down their shareholding recently.
The June '23 warrants were issued at 10p so they're not seeing the light of day anytime soon. and, unless htey've been rerated since (and i don't see any evidence of that) you'd have to go back before then to see. but find it hard to believe any warrants exist that would be profitable at 2p as the sp has never been lower, historically during placings/warrant issuance and they'd be dumb clucks if they were still holding warrants and converting them at this price?
i'll go back and check pre May '23, though, for my own personal satisfaction.
cheers for the post, though.
My thoughts would have been one of the warrant holders, either Rockmasters or Sparks Advisory, who are able to exercise their warrants at 0.1p per share. We know from the RNS issued on 24/07/23 that Sparks exercised the warrants they held at 30 November 2022 (they would likely have received these warrants in lieu of fees and are unlikely to be a long-term holder). Rockmasters might not have exercised their warrants yet but they could in principle be selling shares they currently own (or perhaps be using CFDs and/or spread betting) in expectation that they will be able to replace the shares when they exercise their warrants. We also know that 8.75m warrants were issued as part of the fundraising in June 2023 but don't know the terms, exercise price or expiry date.
Very unlikely any of those JAllis. Any of them would have had to file a long time ago. My honest advice is that this is not a relevant issue to obsess about. Every single small cap AIM name have legacy sellers and the important thing, is very seldom are they sellers who 'know' anything and are much more likely looking for some liquidity after a long period of being caged up. As others have pointed out, recent good liquidity - and especially today's trade - has likely allowed this seller(s) whoever he/they are to reduce/get out and it is thus even more advisable for you to focus on the value of these recent announcements and what impact - and to whatever extent you think there are more contracts to follow soon as the Company has hinted at - they will have on future cash flow and profitability trends.
Here comes the seller again
I think all major sellers are out. The 200k seller got some out at open and there has been ample times to drop more this morning but only a couple showed up. The mm's have been fed by all the day traders buying in and selling out again.
You can sell 200k at 2.18p right now so if they had more they could sell it now.
For the regulars - any thoughts on who it may be? Amati, Perry, a Director? If Perry then one would assume not much further to go, either of the other two then may be a while yet...