Stefan Bernstein explains how the EU/Greenland critical raw materials partnership benefits GreenRoc. Watch the full video here.
Here is where the fun starts.
I have been scratching my head with the share price movement and patterns of trades since the court hearing on 26th, wondering with so little free float, how is this going to play out on the run up to official RTO target announcement. One thing is certain, no new shares have yet to be printed or even hinted at to the brokers.
I've downloaded all published trades since 21st July til last nights close.
Buy driven 128,028,719
Sell driven 113,671,064
Unknown 42,592,688 (30m of which traded between 8:44 and 12:42 on day ITS came back from suspension pushing prices from 2.8p to 5p with no published bid/offer. price settled at 3.5p by the time MMs were back publishing a bid/offer)
I estimated at least 27m of the unknown trades are buy driven. leaving 15m taken from the offer.
As of close yesterday I suspect MMs have sold to the market approx 26m more shares than they have received leaving them short more than the free float.
Using the SP for each trade, MMs are currently up around £800k but need to use some of this to balance books. If they can get the stock back for under 3.07p, they're in the black. If not, into the red. So they will aim to churn this stock as far under 3p as possible.
If new board don't issue new equity, there is definitely a short position bigger than the free float MMs need to convince holders to let go of shares.
If they don't, will MMs push themselves into a short squeeze with the help of more retail interest??
Don’t we all have the same agenda. To make money?
If we buy and hold a stock and share our positive views on said stock on an open forum, it’s not an orchestrated pump.
You need many platforms and many more posters than you see here to make a stock move 40% like it did yesterday.
How many traders/investors do you really think frequent this one and only board which seems to be discussing ITS?
There is genuine demand for stock by either investors or MMs, I haven’t figured out who yet. I suspect MMs from the volume traded a couple of weeks ago.
Shares available to trade.
Significant holders reduce the “shares not in public hands” to 59% according to website.
https://itsarmplc.co.uk/investors/significant-shareholders/
Others bought and are still holding from a couple of weeks ago.
I suspect less than 20m shares in the open market and when I can sell 600k (approx 3% of available float) without going NT on an AIM micro cap, something is occurring.
Roger, it is high risk, as with most micro caps whether trading or a shell, they are very high risk with potentially very high reward. Warren put it perfectly, he/she has invested at a level which won't stress.
A point you make regarding why haven't they announced RTO target teaser. They are too close to the 6 month expiry date to be teasing with holding RNS, next RNS could be official announcement of target and possible immediate suspension.
One thing I do know. no funds have been raised yet through a forward sold placing.
Two possible reasons for this
1, its yet to happen and we will see a massive spike in volume and price.
2, the new company is cash rich and doesn't need it.
Either option is a win for holders at current levels.
Main market LSE PLCs can stay suspended indefinitely. AIM cannot. They have the 6 month limit which at the moment in ITS case is 27th Sept.
If they go over this date they can apply to re-join AIM or main market depending on many factors but usually the size of the new company.
Https://find-and-update.company-information.service.gov.uk/company/13157556/filing-history
This is the UK division of the $7bn parent
Roger, nope. Nothing the scale you mention.
Stateside they are a regular occurrence but not yet on LSE.
The speculation is on Allwyn UK division reversing into ITS.
It makes sense that a huge capital injection would be required if new lottery operator was to roll out new hardware in Feb 2024 when they officially take control of UK national lottery.
An IPO would take too long as they would need to be placing orders now for new hardware and software to be designed and manufactured in 6 months.
An RTO would raise capital in a month or two rather than 6+ months in the case of IPO.
All this has to be in the bag by 27th Sept so it has been in the pipeline for months while they were keeping an eye out for a shell.