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I think the dilution is far smaller than that. It is just 2.7m shares out of 7bn shares in issue which is about 0.039%, a tiny dilution (2.7*100/7000). Not difficult to own bigger percentage of the company than this with such a low market cap - my own personal holding is larger. As long as the person (employee?) who exercised the options does not sell the shares, I would see it as a positive sign that employees are investing in the company. I would guess it is a senior employee, but not one of the directors.
I have held Strix for a long time and maintain a positive view of the business, although I have some concerns about their investments in China.
I received the notification below from Research Tree and wonder if I am missing something
It is already down 50% from the high and adding to the short at this point seems bold, unless there is an expectation of further falls to come.
The level of disclosed Short Interest in KETL has changed materially.
Short Interest has moved from 2.89% on the previous trading day to 3.43% today. That is a movement of 0.54 percentage points.
I think the share purchase by the directors could be seen a bit more positively. They have many options at a strike price of 0.1p (see RNS below from 5 May 2021) so if they wanted to, they could have acquired these shares at a much lower price, or many more shares for the same money. So I think the share purchase could be seen as them giving a signal to the market that they have confidence in the business. Of course if they had exercised the options they would have had a tax liability so they may wish to delay doing so until the share price has risen substantially.
It is also worth noting that after this purchase their holdings in the company will be:
Mr Lee holds 5,262,200 Ordinary Shares in the Company representing 0.07% of the Company's issued share capital
Mr ****e holds 5,692,000 Ordinary Shares in the Company representing 0.08%
So they are starting to build some skin in the game, although I am sure that there are many PIs with more shares than this. It is curious that David ****e owns slightly more shares than Daniel Lee. He strikes me as pretty hard-headed chap.
RNS Number : 5437X
Tissue Regenix Group PLC
05 May 2021
issue Regenix (AIM: TRX), the regenerative medical devices company, announces that Daniel Lee, Chief Executive Officer, and David ****e, Chief Financial Officer, have each been granted an award of restricted share units ("RSUs") with respect to ordinary shares in the capital of the Company ("Ordinary Shares") under the existing Tissue Regenix Share Incentive Plan.
Daniel Lee has been awarded 28,321,603 RSUs and David ****e has been awarded 14,649,105 RSUs, where each RSU that vests shall represent the right to receive payment of one Ordinary Share. The exercise price of the RSUs is 0.1p per Ordinary Share. The RSUs are subject to continued service over a period of three years and satisfaction of customary performance conditions relating to growth in total shareholder return, annual revenue targets, annual profitability targets and personal performance targets.
Following the grant of these options, Daniel Lee and David ****e hold options over a total of 28,321,603 and 14,649,105 RSUs respectively representing 0.4% and 0.2% of the current issued share capital respectively.
I have been keeping an eye on the TRX web site to see if is updated and in particular if there are any new jobs being posted.
The US site in particular seems have had a bit of an update, nothing radical but at least now there is new content.
On the jobs front, TRX was for a long time only advertisting one position. In the last week or so this has changed to 4 jobs in the US which might mean that throughput, and hopefully sales, is increasing. On the other hand the existing employees might have just quit, however I would prefer a more optimistic take. As I write this they are looking for:
Distribution: Distribution Coordinator I
Manufacturing: Processing Technician I
Quality: Senior Quality Systems Engineer
Quality: Supplier Quality Engineer
Some of the positions are paying from $80-85k. The careers link is not exactly prominent - there is a careers link under 'Useful Links' at the bottom of every page. The jobs are also on LinkedIn https://www.linkedin.com/jobs/search?keywords=Tissue%20Regenix
I have not posted in this group before but I am a LTH.