Theroy.8 Jan 2019 19:39
Maybe just Maybe... its Juke (24/7) selling, and maybe the paragraph about them in the last RNS was because they are loosing money on the CLN and want to recoup it one way or another.
Reason : The £1.5m convertible loan from October was 50% paid by Juke. if converted at 2.579p which would give them the maximum amount of shares agreed this would give Juke a total of 77,317,719 shares which is just under 17% of the enlarged company share issue.
Now 36m shares have been sold it would keep Juke in the 12% range of the enlarged company.
-Or it could have been the other funders of the CLN.
-Or if its Milton they could have ~13m left, maybe less and they could have sold some in smaller batches over the last few days aswell.
"The maximum number of new ordinary shares which may be issued pursuant to the Facility is 58,157,529 ordinary shares. "
"Juke Entertainment, which at the date of this Announcement holds 48,238,955 Ordinary Shares (representing approximately 12.1 per cent. of the issued share capital of the Company), has entered into an agreement with the Company to provide £0.75 million of the aggregate £1.5 million facility. "
Side note :
"The funds provided will be used for working capital as the Company continues to move to being in operating profit and positive cash flow by the end of the current financial year." - Did they achieve this now the cost savings have been implemented?
Just a though i had earlier.