RE: Brad14 Jan 2020 10:51
I'm with Whizzer on the idea there is a big seller or IMO 2 big sellers...Think back to The 2018 placing and entitlement offer.
RNS 11th July 2018: In total, applications for ~A$3.7 million have been received under the Entitlement Offer, leaving approximately A$1.8 million which has been placed by the Company's brokers to institutions and sophisticated investors.
Then...
RNS 8th April 2019: The Company is pleased to announce that it has successfully completed a targeted, private placement to sophisticated investors raising approximately $1.2 million before costs ("Placement").
Tlou's Managing Director, Mr Tony Gilby commented, "We welcome the confidence shown in the Company by the two existing shareholders who participated in this strategic placement.
‘Existing’ possibly the same as those from the 2018 placing?
Maybe those ‘Sophisticated’ investors didn't buy sticky shares as Tidd et al were banging on about back in July 2018?
There have been plenty of opportunities for said investors to have started offloading those sticky 5.75 pence shares issued in 2018 at 6.5pence all the way up to near 9 over 18 months, and if that is the case then they can sell them all the way down to mid 4’s or less and still make money. They will have another 12 Million shares hitting the market in April 2020 at 5.5 pence...
RNS 8th April: The Placement comprises the issue of 12,000,000 new ordinary shares (representing 2.85% of the enlarged share capital) at an issue price of AUD$0.10 (approximately BWP0.75 or £0.055) per share. Participants in the Placement have entered into Voluntary Escrow Agreements with the Company not to dispose of the Placement shares held for 12 months. In all other aspects the Placement shares rank equally with Tlou's existing shares on issue.
That my take on the Mystery seller/sellers..
Gl.
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