Grey trades8 Aug 2025 19:28
And these keep happening on a daily basis. Are they buys or sells.
IMO they are sells in the majority.
I've looked back at the placing RNS on the 3rd of July. NT and JL were the custodians of the 308 million shares issued. They were allocated to them and sold 283 million straight away @ 0.08p. No need for a holdings RNS then. NT, JL and MBS were stated in that document as buyers of £300,000 pounds worth of shares. And holdings were listed for NT and JL as PDMR's.
So what has happened to the other 283 million shares sold that were sold to sophisticated investors?
Clearly none of these investors have breached the 3% threshold or there would have been an RNS. Unless of course these investors decided not to publish this information. Let's assume that these investors hold less than 3% and any further disposals do not have to be notified.
And this is where the grey trades come in. Since the 3rd of July we have had three good spikes and 3 retraces.. Albeit these retraces are finding higher lows.
I'm thinking that the sophisticated investors are taking most of their money off the table, in the knowledge that in less than a year they can have the same in warrants, at the same 0.08p price.
What else could keep on producing these grey trades? The good thing is there is clearly appetite for buying. Otherwise the price would be on it's knees.
When this recent spate of selling ends the price will climb rapidly again, and reach new recent highs. More selling will follow, dropping the price, but to new higher lows.
This will continue until all (or most) 283 million shares have been off loaded.
And when this happens the share price could rapidly climb.
I believe that all this will happen as the September presentation and forward strategy gets ever closer. Not long to wait then.
This is my opinion only.
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