RE: 20 mill22 Jun 2020 23:16
It’s warrants being traded against, if the shares are bought back before settlement date, then the seller makes the difference on the way down.
say sold on a t10 then if the seller buys back the physical stock before that date, he doesn’t have to exercise the warrants. Unfortunately what this suggests is that the sellers will use placing stock to close out with. Looks like smart money. The city always wins! But probably best to get the raise out the way anyhow, it would be reckless of Tomco to leave the raise until out of money, as they wouldn’t be raising from a position of strength, if the BOD have anything about them, they raise now this week while the SP is high.
A 0.6p placing to me would be a good result after 0.4 being pulled. All imho