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It will be after the shares hit the market (probably on Wednesday) could be very interesting IMO IG

Matd's large placement required aprox 50% dilution, this aaog one required 150% dilution. Thats a significant difference. IG

You can be sure it will drop to 8p at some point, 90% of shares drop to the placement price soon after placing - and with this volume, it's even more likely. IG

150% dilution doesnt often happen. Even on aim. Especially when sharesholders had been repeatedly told the drill was fully funded. Great price to buy in is a very loose phrase. Some would say it was a great price last year, with 40% of the shares. The placement means that the price just went up a lot (the % of the company you get for your £100 just dropped through the floor). IG

Check again Rob. I said that people had mentioned 5-6p, but never said that myself. For 6 months I have been saying there would be a very large placement at about 7p. I was 1p out, so shoot me. Sadly the placement was bigger than even I expected. A huge amount of that money will be flippedover the coming weeks and months killing rises in the sp. Essentially, we're back where we were a year ago - funded and ready to drill 103, doing workovers on 101 & 102, except the are 2.5 times as many shares - so where we hit 25p building up to 103 last summerl, the same mcap equates to not much over 10p now. The additional millions rasied don't offer us a larger slice of the pie. We can simply reclaim the cash if the drill is successful. The bod's incompetence has cause this. At least they can drill which looked shakey for a while. IG

100k down - 90million to go. Not going to be a shortage of 9p shares. Suspect we'll see 8p traded today. IG

The true offer price is now 9.175p. It's been falling all day, clearly the placement pre-sellers want to offload some and see 9.175 as a good price. At this rate it will be sub 9p within an hour. Much of the potential $6mill placed will be flipped quickly. At a potential 7p placement price, the current price is a nice 30% profit. Expect they'll still be happy with a quick, risk free, 10% !! The overhang on $6mill (over 50 million shares) will take some shifting. Very few will want to take a large chunk through to drill result, so I expect there will be a glut on offer at 10-20% above placement price. Probably even less if there is much left at spud. IG

The huge trades are blatantly preselling of placement shares. I can buy a bucket load at under 9.3 - looks like a heavy discount on the placing (no surprise given the past performance and lack of licence). I still think c.7p but those who scoffed at the wild suggestions of 5 or 6p might soon have to eat their words. IG

Everyone and their mum here to warn us that the sp isn't going to rise. Haha Where the heck is catscan????? IG

offer price still dropping ... 9.48, 9.40, 9.37, 9.355, 9.35 - almost drops with every buy! Mms appear desperate to sell shares... And another mystery large trade. IG

Is this post designed to spook investors? Almost all aim companies have raised money and yet you weakly attempt to draw a comparison between us and a company that recently failed to pass P3? Do you realise that we have already had successful completion of P3? IG

"we are pleased to welcome new investors to Motif Bio" - they know who's taking these shares. Even before the bookbuild is launched This supports my view that new investors have approached the company and asked to buy in. Great sign of increasing interest in the company. Shame they weren't forced to buy on the open market but that's life unfortunately. IG

Absolutely clear to me. Someone approached the company and asked to buy in to the tune of a few mill � - prior to final NDA submission. This extra cash is all good for the balance sheet, as is another ii on the register. So we get accelerated book build. The placement confirmation RNS will be later today, and will be at about market price. The TR01 tomorrow or monday will be key - who's buying big ...? IG

Has asked to buy in. Hence it's accelerated book build. Price will be good IMO IG

We have had little recent selling (none today) and are almost at an all time low - and yet the mms are gradually dropping the offer price, (9.48 this morning, 9.40 was a buy, the current offer is 9.37). This only happens when the mms have a lot of shares to sell and they need to encourage buying. Conclusion - either the 1.9m was a sell or there is another large sell order being filled. IG

Boom - Don't be misled. Last August they told shareholders that the rig for 103 would be on site in September, Now we know that they had not signed a rig contract, were not getting support from the partner and cannot afford to pay for 103. IG

Are they actively trying to destroy the share price? First they mislead investors over and over. Then they self leak the vast funding shortfall. Then they allow uncertainty and speculation to go on and on knowing full well the likely effect. They couldn't do a worse job if they tried! IG

Given that it's basically at the low of the last few weeks, even you have to accept it's not a buy. Mms are not charities. My guess is preselling of placement shares but I accept your suggestion of a transfer as it's pretty large. Is certainly a mystery and we really ought to see a tr01. Given the open speculation by bmd etc about the placement it's absolutely appalling that the bod have not put out an rns. Not a good sign. IG

No news. Are they struggling to raise $6mill because they haven't got the licence? Clearly don't care about shareholders and have no positive news with which to support the sp. Good lesson on avoiding shares where the bod have not invested in the company! IG

Rob, I agree that there is a good chance the licence will come post fund raise. They want people to drill (especillly with the crazy terms of "we front all costs and take all the risk!") - but this company has a very poor track record so they will likely want to ensure AAOG can afford to drill before granting the licence. Also agree that it was quite shocking to self leak the huge funding shortfall. Without that news, they would certainly have reaised with less dilution. Given the situation they have put themselves in, the city will take full advantage and will only invest these millions at a significnat discount. If this was on purpose to allow DS to buy into a cheaper placement - that would be pretty outrageous! IG