Ok....24 Dec 2025 15:42
· Pricing: Ordinary Shares shall not be sold at a price below the closing price of the Company's Ordinary Shares on the previous trading day.
So on any day if the share price rises higher than the previous day share price, even for one minute, a market maker will sell up to 25% of the weekly volume at the previous day closing price?
Meanwhile bitcoin continues to tank?
Anyone buying this share should be aware that any rise will be sold into, the bull run on crypto reserve companies is over, if you want exposure stick to ETF, SWC might be under NAV but dilution will sort that out.
Beware:
"· Additional share transactions: the New Subscription Agreement permits Shard Merchant Capital Limited, where appropriate, and with the agreement of the Company, to facilitate larger investor share purchases at market prices through the New Subscription Agreement above the volume limitation detailed above"
Nothing to stop someone shorting this to 25, 20, 15...... then buying back at market price direct from Shard.
Red Flag * "implying an effective 1.75% commission paid to Shard Merchant Capital Limited"
Shard Merchant Capital are not doing this for 1.75% profit, that would imply max profit for them of around £50thou. This is not realistic, they will work with clients who are existing shareholders sitting on losses willing to trade down to recoup their losses. Being on Aquis offers no protection from shorting if Shards clients are exististing shareholders..
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