RE: Upward29 May 2020 16:12
JHFH.
I have followed this stock for the last 2 months or so , primarily due to the fact that working from home has given me the time to carry out a little research on a few shares that I think will show promise.
I too agree that that something must be in the "offing" as very few share placings end up below the placed level prior to formal agreement and i would have expected the 7p to have been the base price. This Placing as i have read was "over-subscribed" as such they could have increased the amount raised at this level but chose not to. I would have expected those who missed out on the placing to have been purchasing at the same level .
In regards to the "close" period then significant shareholders and employees are not normally allowed to deal in shares during this period. This is common in the run up to an AGM.
I would expect the price to remain in and around 7p until after the AGM it would not be unusual for information related to ongoing talks to be released at this meeting.
As previous posters have mentioned I cannot imagine those who took the placing up at 7p did so on a "whim" especially as the price had only risen to that level a few days previously.
I still cannot work out why the price has been falling when the numbers of shares bought exceeds the number sold. Surely supply and demand then increases the price?
as ever DYOR.
Ee