RE: Manipulated to F--K29 Apr 2022 19:07
It's because the BOD were out of their depth when they published this on 4 Feb 2022:
" The Board is of the opinion that the high number of Existing Ordinary Shares (currently 3,403,470,791) and the low absolute share price, negatively affects investors' perception of the Company and considers the Consolidation to be in the best interests of the Company and its shareholders. If approved by shareholders, the proposed Consolidation would reduce the number of Ordinary Shares in issue by a factor of 50 and the Board believes that this will increase the trading price of the shares and make the Company and its shares more attractive to a broader range of investors."
The mid closing price on the 4 Feb was 3.70 p or £1.85 new money and that was after a period of steady decline. So, I conclude that they had no clue what they were doing and didn't give a stuff about the PI's. PH have done FO visibly and unless they start getting their act together and realise that they need to be a bit more communicative and present better, the SP will just keep on falling.
Lat weeks close was £2.60. Today it is £2.20. A drop of 40p for no good reason.
Not anxious or insane, just pi**ed off.
See you next week for more of the same.