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It’s all a bit bewildering…the current share price values the company iro £13m This includes the £3m just raised, knocking the value of the main company and the 4 business to £10m, half the book value.
Lucyd has all but sold the 2,000 lytes this year…retail $150, but say $100 for giveaways and discount, equates to $200k, FDA clearance for Belluscura and increased %holding, Salarius being tested by 200 suppliers and Guident making good progress , including 6 months into the shock absorbers (not that I completely understand the technical stuff on this one…a little beyond my O-level physics and making my hair stand up with the old Van der Graaf Generator!), but the guys seem to have the right qualifications/experience…..something, hopefully good will have to give soon, but I suppose things have been on the cusp for a few years now, so they need to produce some hard results.
Call it sheer dogged determination, but I’m sticking around just out of sheer belligerence…been in other shares for years in the past, given up on them and sold…then very next day the price explodes!!!
GLA whatever you decide!
I can’t say I’m overly impressed with the placing. As I said before, if it was oversubscribed, at least they could have made an effort to put the new shares in the hands of a company who had a longer term commitment. Instead, a large proportion seem to be in the hands of a company turning it into some sort of yard sale, flogging them off at what they can get, making a small margin for a fast buck. It could be argued that it got the job done, but is very unsettling for investors with a long term view and may put others off?
They did state that the placing went to both new and existing corporate investors. Since the placement there must be nearly 32m t/o, so very rough guess 16m sales + there was certainly some flogging off going on the run up as well…as other investors involved, whoever it is, must be reaching the end?...why they are not having to report as a major shareholder moving down the percentages is anyone’s guess…maybe if it’s some sort of investment company, who may argue multiple owners, therefore no one major shareholder 3%+…I really can’t be a**** to complain to the FCA.
Still, on the bright side, it has allowed private shareholder to top up close to the placement price (may have had a dabble myself!) and perhaps things will settle down and start to recover? Maybe, just maybe the placements may come to an end if they can get one company away…or as one person said on here, stopping the share confetti cannon going off yet again, which seem to sum it up well!
There’s no doubt this one’s hard work…the phrase ‘it’s like pulling teeth’ springs to mind. Not sure why, but I still have faith with this one as I think it will come good in the end..(coming good in the end, sounds like my old school report!)
Anyway, if it was oversubscribed, they could have at least made an effort to get the shares into the hands of a company who actually wanted to keep them. Instead, we have to spend weeks watching millions change hands at a small margin. Once the overhang is cleared (a bit like that tanker in the Suez Canal) hopefully things will start to move in the right direction!
Hi TC, not sure if it would be Edale, because they increased their holding by 2.7m at a higher price on the days running up to the placement. Who knows...well I suspect a few do!
Anyway, I know other people on here mention and talk up different stocks on this board. Just a top tip from me…Just returned from Tesco and they were selling 4 Hot Cross buns for 70p…but…and here’s the Biggy, if you buy 2 packs you get both for a quid, that’s 12.5p each!…just had a couple toasted with strawberry jam…very nice and much more exciting than this share at the moment! GLA :)
I guess the other thing to consider is that the Market Makers don’t hold a large float of shares and is relative to the size of the company. Whilst 4.2m shares in ftse company wouldn’t be large, it is in this case, so I can only guess that there must be a corresponding purchase of this size? Another late report? Anyway, hopefully all this guess work will come to an end very shortly!
Good spot! There were also a number of trades iro 90k reported late. Last few days, there have been clusters if tiny trades as well…TBH I can’t help as I don’t know what to make of it myself. The RNS re placement stated ‘ from existing and new institutional shareholders’..so, I would have thought the existing ones will cross thresholds and therefore RNS’s should follow, likely tomorrow? Perhaps it was the last shuffle prior to them having to publish their position?
Hopefully, the company’s website, under Investors/Company Shareholdings section will also be up dated with any new major shareholder.
Not the RNS we were looking for. This one is something to do with Nigel Wray’s holding, already reported 19 March 4.21PM.
As I said before, technically the new holders should, under FCA rules report within 2 days of crossing the threshold. Maybe the advice could be stretched one further day if the report is made very last thing and not processed until the following day? Case in point, Edales last one crossing 17th and reported 22nd after the weekend. Could happen during today...frustrating, but I guess we have to just ‘suck it up’ !!
Yes TC, it’s interesting that this threshold was crossed on 17th, the day before the announcement. I would have thought being an institutional investor, already participating in previous placements they would have been offered / knew what was coming?
They would have had to make this announcement to comply with the FCA reporting time lines, but it makes me wonder if we shall see another one from them in the next few days increasing their holding significantly from the placement announced last week? Either that or perhaps another party beat them to it having even more fire power?
Not sure if any of them will get anywhere near the mandatory takeover offer limit of 30%?
Anyway, the RNS’s over this week should make interesting reading!
Feeks...the runt is a little harsh, but it id make me laugh!...perhaps the ugly ducking? Anyway, here's what you will get..
https://www.youtube.com/watch?v=_7aO0iRxISM
https://saltme.com/
https://invest.microventures.com/offerings/microsalt
I tend to feel Tekcapital play with a ‘straight bat’ and therefore these two major shareholders would have been treat exactly the same as the other private investors and would not have known or been offered a side deal which was declined. Maybe ‘shafted’ is a little strong, as at the end of the day, we all knew a fund raise was on its way, just not to this extent.
I’m not sure if anything can also be read into the prompt reporting by these two either.
It could be they are miffed by not being included in this fund raise, therefore are not buying any more even though the price is not too far off the placement price… but, at the same time they also don’t want to ‘cut nose off to spite face’ as they also know this could be the long awaited turning point.
Or the prompt reporting could be down to the FCA’s new Electronic Submission System finally coming live Monday 22 March and any new TR1’s have to be processed under the new system…perhaps they just preferred to report on the old system, rather than be the guinea pigs on the new?
However, we now know who isn’t participating, next week all should be revealed as to who has! Under FCA rules, they have 2 days after crossing the threshold…as the shares are due to be issue 23rd March, we should know by Thursday 25th.
I hope that some of the new institutional are in it for the long term, as in some respects, the long term private investors haven’t been treated so well, so may be hesitant about buying more for fear of history repeating itself?
Some measurable positive news would go a long way to calming some nerves, although the FDA news was pretty good!!
‘It’s been a funny old day’ as Arkwright from Open All Hours would say closing up the shop!
I suspect the price in the short term will be dictated by the intentions of the new holders of the placement shares.
If they are in it for a ‘fast buck’, they will more than likely carry on flogging them off at a small margin which will stunt any short term recovery as it will take a while for the shares to make their way into the hands of serious long term investors.
Or, TEK may have ensured that were placed directly into the hands of long term investors, so the price will then recover quicker.
In reality I would guess it will be a half way house, that there will be a short term flog off of say half and then the remainder retained as a free ride by the holder….who knows and again only time will tell!!
GLA
Well, whatever they did to raise these funds it was always going to be painful for the existing shareholders!
They needed to raise the funds quickly within the 30 days, so they would have run out of time messing around with Pis with relatively small amounts? The institutional investors are always going to want a decent cut, so I doubt if they would have taken it up for 12-14p as not enough safety margin. In any case, Pis can currently top up at a penny more. Usual bank finance would not be available at this stage without a heap of security due to lack of track record...in any case hefty lending fees/loaded interest rates would have applied.
Having said all that, I hold a large number of these shares, but still have confidence. Yes, it was a kick in the n**s, but as I said it was always going to be painful whichever way the finance was raised!
But where are we now? FDA clearance granted, fully funded to take the options up in Belluscura. Additional funds for working capital for the other businesses..perhaps enough to make it through until one floated (Belluscura?) – some funds could then be retained for further working capital…may be the last placement or is that wishful thinking?…they just need to prove themselves now and that will take a bit of time…we shall see!!!
Hum…we saw that coming and at the 10p range! Rather more shares issued than I was expecting! I guess its all about how these funds are used and getting some actual good results on the table. Speed is also critical, otherwise if we get the usual months of no news, it will simply slip back to the old ways. Having said this, I think I will be sticking around and seeing where we go mid to long term as I don’t see this as all bad and we do have new members to the team…currently 20% down, but have a feeling that once the knee jerk sells clear, probably end slightly up at the end of the day…but don’t hold me to that!!!
Main downer, Im going to have to invest in a new calculator as ive just found out mine only goes up to 8 digits! :(
It maybe, that whoever it is flogging of these amounts could be trying to supress the price as the next placement price could be calculated as a discount of an average figure over a defined period. That’s assuming we are correct that a placement is forthcoming. Or maybe, the price has already been set – the last placement figure was 8p, there has been progress since then like FDA clearance, so perhaps somewhere between 10-13p…the large sales seem to dry up when the price drops below 14p.
Of course, this is all speculation and could all be wrong, but it gives us something to debate whilst we are waiting! No doubt the price will drop below this figure just to prove me wrong!!! – anybody got any other theory’s?
MG, I think I have been a bit lucky, although not out of the 48 hours yet! – TC, going back to your comments re Edale if it is them, they last reported via RNS 2nd February and held 5.82% then. Therefore, they could sell 0.82% before crossing the 5% FCA reporting threshold, in other words 758,598 shares. I haven’t been keeping tags on all the round 100k/50k/25k sales (let alone large non rounded figures), but my gut feeling, if and that’s a big IF they are related, that figure will have been exceeded by now?
Not sure who else has the holding (save Walker Crips or Nigel Wray, but the same FCA rules would apply here as well) to continually flog off these sizable amounts…. anyway, I suspect as the 30-day limit ticks down, all will become clear?…or maybe not as it just seems to be a guessing game at the moment…shouldn’t be, as that’s the very reason the FCA rules are in place – transparency and all that!