Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
As traders exit with their beer money.
Nothing to see here til the next RNS lands. Should I buy more a break the 3% barrier 🤔
If you really did understand fundamental analysis you wouldn’t try to ramp ICON, the share printing machine, only still on AIM to print money for EHGOSF.
That company and anyone who pumps it is a disgrace.
Made good money out of ICON a few years ago and escaped when the ramped up the printing machine but everyone is wise to it now.
Huge spread, normally a sign MMs are trying to discourage day traders. It’s the only ammunition they have to avoid another run.
Roger, I bet we’re not the only ones.
2 were buy driven, 2 were sell and hoovered up nicely
And todays session had approx 50% more sells than buys normally this should result in a big dipnbut share price was up 40% on the day.
Less than 40% of 52m shares in public hands. Approx 20m shares. And I have approx 1.5m of them 😬, there are many others with just under 3%
There’s a lot of new holders in a 100%-500% profit not getting spooked by the shakes.
If there’s any positive news, MMs will struggle to find sellers below 10p
Bid/offer 4.00/4.20
I am offered 4.0875 for 500,000 and 4.16666 for 400,000
There is a strong demand still.
Regarding RTO RNS, it has been mentioned before, when the RTO commences, the shell shares 9 times out of 10, suspend while the new share capital is sorted out.
Sometimes this suspension is months but we know in this case everything has to be in place by 27th Sept.
Going back to your comment you won't be able to buy shares, this will be the case if suspended and we also won't be able to sell.
I have 2 RTO's which have been sitting there for years (main market doesn't have the 6 month limit like AIM), but my AIM holdings on return in which ever guise, was worth more than when it was suspended.
Can be placed at full bid without going NT
I'm still looking for the equivalent list for the UK market but check out the market cap of these SPAC/SHELL companies on the US market for an indication as to why investors buy shares in shell companies.
List of Special Purpose Acquisition Companies ('SPACs') that have not announced a pending merger
There are currently 666 SPACs that have not announced a pending merger. These securities are common stocks. Don't forget that SPACs first go public by issuing a unit. So there are usually 10 or 15 SPACs that recently went public by issuing a unit and their common stock is not yet separately traded. So those SPACs also have not announced a merger.
https://stockmarketmba.com/listofspacswithoutapendingmerger.php
The valuations range from $6m to $4bn!!!!!!!!!!!
One of the biggest draws to an RTO for a listing rather then IPO is the saving time and cutting red tape and regulatory hurdles.
When you reverse your larger company in, you are not 'paying' 50x its value for the privilege.
You are issuing shares, there will be an enlarged share capital and the old Shell stock will make a small percentage of this.
$850m cash was raised for Allwyn when it was going to reverse into CRHC SPAC creating a company listed on the NASDAQ worth over $9bn
Everyone is a winner, CRHC (shell / SPAC holders), Allwyn shareholders and new shareholders are buying into the prospects pf the newly listed company.
Crudely and simply put, this is how an RTO works.
Get your maths right or your posts lose all credibility.
52,500,000 shares x 4.2p = £2.2m market cap, your out by nearly 50% but it won't be long before it is over £3m.
If a £50m company was to reverse into ITS and existing share capital made up just 10% of this new PLC, ITS shareholders would still be in for a 10p a share payday. This is the lower end of the speculation surround the new directors.
Todays valuation is based on what could be, not on what is.
This is the case for all stocks, they are priced for tomorrow based on many factors but for a shell company the overriding factor is the new business about to be reversed into it and the directors pedigree is normally the indicator driving the price.
Bobat, they don't need money for an acquisition.
This shell company is not acquiring another firm. The other firm acquires the shell company. Clue is in the name, its a reverse takeover.
This happens when a much larger company wants to list on the stock market and a dormant, listed PLC (shell) is available.
The bigger company reverses into the smaller company. Normally bringing its own cash. Most RTO's have a fund raise elements for the new company (not the old shell) but not always. Depends if the new company wants to raise funds as part of the RTO.
The shareholders of the old shell company take a stake in the new company. this can be anything from just 1% to 30% depending on the value of the shell. I presume ITS will take a small slice of the new business but even this small slice could be worth tens of millions and when ITS is currently valued at just £2m, this represents a massive upside which is why some traders/investors, buy and hold Shells, SPACS, blank cheque companies.
Google those terms and learn why people are buying and holding ITS
With only 8 weeks to go before the 6 month deadline is up for announcing RTO details, there will not be a placing. Hence why MMs are struggling with low stock supply as there is a low float and most shares are held tightly.
Normally there is a completely different round of fundraising associated with the new share capital, not the old shell company.
Dummy sells show they MMs will take 100,000 / 200,000 and 300,000 shares for 3.2945 when bid is 3.30
occasionally they withdraw to 200,000 and 300,000 but MMs will always take the 100,000 and report it immediately.
The big buys go NT and will be delayed reported. MMs don't want you to know when buyers trade.
Stock is slowly moving to investors rather than day traders.
Of course you can buy 5k for 3.44p
Thats just £172 worth of shares, try a more realistic quantity.
DAVEY50
It doesn't matter about the percentages when the company was valued at just £89,250
The market cap is now only £1,600,000 this is a pittance with the potential they are sitting on with the two new directors.
From experience of other RTOs when the RNS drops, a £5m-£10m market cap is just the tip of the iceberg.
.....is still Adam Frisby with 12,103,446 (23.05%)
and
Chelverton 2,712,500 (5.17%)
Paul Masters 1,977,504 (3.77%)
If they were to sell a significant holding there would be a TR-1 notifying the market.
Interesting to see they are holding on to their shares.
Https://www.thearmchairtrader.com/why-cash-shells-are-becoming-more-valuable/
The company is still just a shell but the mcap is a tiny £1.3m regardless of the 1000% increase.
The previous price reflected ITS was about to delist. Therefore a 1000% increase of nothing is still ridiculously low.
Think about it 52.5m shares x 2.5p = £1.3m
Check out ICON also worth about £1m on AIM and printing billions of shares every month to pay off debt with no revenue or prospects.
ITS market cap is undervalued as a shell with such accomplished new management and the potential RTO.
£1.3m is laughable valuation with an RTO announcement days away.