RE: Bond Conversion16 Oct 2018 00:02
LALLJOHN
Mate they have been allocated but to be honest if I had a share given to me at 4p, I would not be selling at sub 1p. The total sum of the allotted shares were £65,000 and at tonight's close would be worth £11,293. That would be too hard to swallow. So there is another reason why they were offered and taken for 4p.
The penny has not dropped for some people yet. When shares get released at 4p they would normally begin the journey to that price. However there is reasons that need the price to remain here for now. I do watch the price movements and predicted today would happen over the weekend, since we really do need to get rid of the traders. This has been bread and butter for them for too long . Now a few of them are getting all upset that there main staple is being taken away from them soon, and they know it, so they need to try and convince some that the price should remain in this trading area forever which I made a point of a few months back. The price has for nearly four years remained in the 0.6-0.75p regionl. Each time it has gotten out of that range it has been pulled back there. My theory was that accumulation was happening and I stick to that still. You can only play this game out for so long and CLP has arrived in the last chance saloon. It needs to convince all those who are not trading that it’s been worth holding and there is a reward waiting.
In my own opinion I am confident this has now been played out here and will begin its journey north.