Altair holdings18 May 2019 17:39
I was just thinking about the situation we've been in with Altair.
The Company will make an application for the 163,027,158 new Ordinary Shares, to be issued and allotted as a result of the warrant exercises set out above, to be admitted to trading on AIM ("Admission"). Admission is expected to occur at 8.00 a.m. on 13 March 2019. The 163,027,158 new Ordinary Shares will rank pari passu with the existing Ordinary Shares.
The Company has agreed with Altair and Ecofinance that the new Ordinary Shares to be issued to them following the exercise of the warrants will be, from the date of Admission, subject to a lock in period for 90 days and an orderly market agreement for a further 90 days. Such agreements will be entered into prior to Admission.
So we will be out of the lock in period on the 11th of June.
Can somebody please explain the orderly market agreement for further 90 days.
Does this mean that they can sell but at limited amounts?
The SP was holding well around 1.3p until they exercised their warrants. Since then its dropped to this level and we've been struggling to get out of it.
Does anyone think after the lock in 90 days the SP may start heading back to a better level?
Because something hasn't been right here since they made their decision.