RE: SKIN25 Apr 2019 16:52
gjbrandon25 Apr '19 - 15:43 - 2747 of 2751
0 3 0
Quick recap for all those talking flippers, as I was the one talking to the Placees and subscribers.
The offer was for £2.85m, according to the information I received. This was pared back to £2.75m with £100k being refused to parties who have been known to forward sell, or churn as the term being currently discussed.
The reason that £2.518m is stated is because £232k was used to place shares that were held by early seed investors (and I mentioned them on a recent Proactive Video). These shares were placed to avoid those seed investors selling them into the market.
There were original IPO participants who averaged down, and are still well out of the money (i.e above 1.4p) and EIS and VCT funds, which would be required to hold for 3 years, for tax benefits.
The Broker facilitates (introduces) investors as placees and subscribers, usually (and in this case) brought in by the Company. To be clear, the broker does not take shares to flip. All they do is arrange for shares, on behalf of the company, to be taken by placees.