Member Info for chasf

Took them long enough to report it (17th Jan). Are they still collecting?

150m is a reasonable chunk 5.1% indeed.

The Total Voting Rights RNS is a requirement at the end of a period (month I think) in which there's been a share issue, in this case the Conditional placing.

It will be interesting to see how many of those shares are sold. I'd have thought for the upper management if they knew things were close, they'd simply hold. Some lower down might sell a few even then, I suppose.

They won't usually show up as traded in the days preceding admission, not least since the Afren Affair. £1.8m in value was registered traded on the 30th, which I think given the unending stream of extra bank holidays is T+2 from 24th when they were admitted to trading.
They were issued "to settle outstanding debts and liabilities of approximately £2.6 million", and allowing for broker's fees and a few that have kept them, that seems about right. Be interesting to see what happens with the current lot.
Unfortunately the Exchange doesn't provide historical trades to mere civilians, without the exchange of coin, so I can't check the transactions on the 29th/30th to see how all those trades were reported.

Of course there will also be big selling into any rises

If you look at the pre- and post- table in one of the RNSs you'll see that the structure of the placing preserved their % position so they didn't get diluted. Hence agreeing a bucket shop placing after saying they wanted to avoid it to avoid dilution.

The management shares will be down about 12% but they also got the warrants.

"Strange to think that anyone that took shares in the placing for monies owed are underwater now as well. They can join the majority of the shareholders including myself by a fair margin."

Those shares will have been sold before the first RNS announcing the placing, before the price drop.

Still a long way to go to reach PREM standards

@Robjm66 thanks for the reply

Does every party that claims it is ready to go once security is sorted out actually have the money, I wonder?

"De risk balance sheet…real question should shareholder buy at .8 pence of shares when NPV so much higher."

I was going to do exactly that: it's such a bargain! Unfortunately, the money's tied up in a company called KEFI ...

"are we there yet?"

If it doesn't go ahead, I suppose I'll be lucky to wear a bag because I'll have lost my shirt.

My guess is if it finally goes ahead, with all the dilution, I'll be lucky to get 40% instead of a bag, because all the warrants will be dumped too, but at this point that would be an adequate return for years of broken promises. This is getting really PREM-like.

On the other hand, it would be very reasonable finally to get an update as to *exactly* where KEFI is wrt finally getting those signatures (and not in invisible ink) and all the necessary ones too, so it can finally proceed. January (which year?)? February? Can we have an actual deadline? Thanks.

The effect of voting down the conditional placing (only, the firm one having taken place) would be to head into Afren territory, which probably won't end well.

Looking at the LSE charts the volume doesn't seem to be anything like enough in the last week or so, so just ignore that last suggestion.

I can't be bothered to look at the trades in detail, but a volume graph I saw this morning suggested that's what was happening last week (forward selling), peaking on the 14th? Some of the issue will be held by real shareholders, but the bucket brigade will have dumped theirs.