Good day but much more to come3 Mar 2010 18:40
Yes - there are only 78M shares in issue so we have added volatility and of that 60% are tightly held
As at 22nd February 2010, there are 78,392,551 ordinary 1 pence shares in issue. The company has been advised of the following substantial share interests exceeding 3% of the issued ordinary share capital:
Polymer Holdings Ltd 22,566,078 28.79%
TW Indus Ltd 9,565,802 12.20%
Brian Scholfield 5,166,333 6.59%
Artemis Investment Management 4,330,000 5.52%
Techpacific.com Investments Ltd. 3,081,873 3.93%
Acuity Capital Management 2,841,200 3.62%
There are no restrictions on the transfer of shares and the company has not applied or agreed to have its shares traded on any other exchanges or trading platforms.
That leaves us pi's to scrap over 40% or 32M shares and with that ~1.5M was traded from 4-430 after the RNS was released. This has all the hallmarks to doubling tomorrow as every buy is likely to move this north..
From the RNS in December 1.5p is breakeven for the 18,333,333 shares that were taken up by Polymer Holdings so that will be our first hurdle and we will find out soon enough if they intend on selling which I very much doubt.
My guess that this will close ~ 3p so get in early