REAL facts about the ATM share placings2 Aug 2020 15:45
We can only assume that there is some motive that drives misleading and false fake news about TILS sneaking out a RNS on share issues late on Friday evening. The implication was that the company was trying to sneak out bad news and they had loads more shares to get rid of. It is perfectly NORMAL and a requirement of the Stock Exchange to inform once a month, normally the last day. So, why do they want to create fear, falsely with misrepresentation? It makes you doubt the validity of everything else mentioned in uncle Tom's article. NASTY media when it behaves like this.
Please see extracts below of monthly RNS announcements by the company.
During the calendar month of July, the Company issued a total of 2,043,000 ordinary shares under the Company's ATM sales agreement announced on 15 April 2020 to meet sales of a total of 408,600 ADSs under the ATM sales agreement, totaling gross proceeds of $4,371,289 in the month of July 2020.
During the calendar month of June, the Company issued a total of 2,343,445 ordinary shares under the Company's ATM sales agreement announced on 15 April 2020 to meet sales of a total of 468,689 ADSs under the ATM sales agreement, totaling gross proceeds of $2,785,003 in the month of June 2020.
During the calendar month of May, the Company issued a total of 1,743,445 ordinary shares under the Company's ATM sales agreement announced on 15 April 2020 to meet sales of a total of 348,689 ADSs under the ATM sales agreement, totaling gross proceeds of $1,985,004.
During the month of April 2020, 906,905 Ordinary Shares were issued to support the allotment and issue of sales of 181,381 on aggregate of ADSs under the Company's ATM Sales Agreement.
On 15 April 2020, the company announced that that it has entered into an "At the Market" or "ATM" Sales Agreement with Think Equity (a division of Fordham Financial Management, Inc.) to raise up to US$20m from the sale of ADSs (each representing 5 new ordinary shares).
Think Equity, acting as sales agent, may effect sales for the benefit of the Company should the Company elect to initiate a transaction or transactions, dependent on market conditions and such other terms as the Company may specify. It is possible, and indeed likely, that multiple transactions could be effected under the ATM Sales Agreement over time. The ATM Sales Agreement is not a formal placing and any potential sales of new ordinary shares are not underwritten by the sales agent.