It's not really a positive to say they're not selling shares...13 Aug 2024 19:29
More, the negative that, with two BoD leaving and the opportunity to buy at least part of their stake at significantly below their own averages of 2p, those chose not to.
no doubt they all have various stakes in other companies and synergies abound (though i have miserable memories of that whole PIRI/DEV/all the other shares that Akers had dibs in that all folded) but if they can't see that buying more shares for what is a pittance to them would be a big signal to the markets.
i mean, the scale doesn't really matter, does it! if anyone here has an average of 2p and see the sp at 0.55 (and they had inside knowledge and understanding of the company and the timelines involved) who WOULDN'T be averaging down! it was a real negative to see Garies and Raphael's shares flood the retail market with zero interest from related insiders taking up any of their shares.
you can wriggle all you want about how 'they're making their money in a different way' but the market takes not of such things. and, while it meant every cheaper shares for pi's, it damaged the perception of the prospects of the company.
so now we wait on updates from the already announced acquisiton shopping list and hope/trust they'll come good (though Easysend will require a good chunk of dilution, esp. if the sp hasn't recovered by then).
they might be making profit by then but i doubt it'd be sufficient to buy Easysend.
But outside of out-of-the-blue news, what else is there to push the sp higher?
Noone who has shares could ever have believed it would be sub 0.6 and everyone hopes it'll recover just because it's undervalued but, without something to pump it it'll be a slow climb OR it'll take a ramp crew to buy rlatively significant chunks repeatedly to get the herd to jump in too... but would that just spike the share or will it find better support?!
final point, everything that Lloyd posts, whether accurtate or not is stuff that the company should be posting on their social media. it really is the black hole of pr to not bother with giving the holders something to cheer about.
bloody basic business practice...