Fonix Share Price (FNX)

Agree with your thoughts Rivaldo. Share price should hold up well with the smooth sale..

Clearly there was strong Institutional Investor demand at 225p with 6.7m shares sold, significantly higher than the 4.44m shares floated in yesterday's RNS.

Placing done nice and smoothly, and hardly a surprise given the significant shareholdings of the three major holders - which remain extremely weighty at 33% of the company.

Given the apparent demand it's possible that the share price will stick at the 240p mark or even higher, but whatever the case I suspect it will remain pretty strong.

Especially given the signal given the by the 907,000 share buyback at the same price, with those shares now quickly cancelled.

An hour later and another RNS.

Fonix to take opportunity to buy back 1m shares using surplus cash - to be held in treasury.

Https://uk.advfn.com/p.php?pid=nmona&article=93681279

To "meet institutional demand".

- I guess price will drive down tomorrow...

Looks like FNX powered a good year for Comic Relief, up 18% on last year:

Https://www.fonix.com/blog/10th-major-campaign-with-comic-relief/

"10th Major Campaign With Comic Relief

27/03/2024

Over £40m was raised for Comic Relief’s ‘Do Something Funny For Money’ campaign on Friday 15th March, £6 million more than last year. This year’s donations bring the total raised to an unfathomable £1.5 billion since the launch of the charity in 1985, helping the lives of over 100 million people! A fantastic achievement and one Fonix is proud to play a part of.

Fonix has had a strong relationship with Comic Relief since 2015, providing text-to-donate solutions to all 10 major campaigns with them, including The Big Night In which raised money in 2020 to support those affected by the COVID-19 pandemic. Fonix has raised over £70 million through text-to-donate solutions with Comic Relief and their fantastic telethons, encouraging donations through the amazing entertainment they provide year in and year out.

Text donations and Delayed Donation are powerful tools in the charity sector. They are an effective way to maximise donations where there is constant interactivity with the audience and mass volumes of donations. Comic Relief has raised as much as £13m via text donations in a single campaign."