I think any SP target will depend on when the placing takes place and how many extra shares are issued. Agree 20p plus would tigger profit taking (if reached)
Re Placing - could it be a mixture? I've held shares (ie. FDL) were part of the fundraising was allocated to institutions/BOD and part open to existing shareholders (maybe underwritten by same institutions). I like to think there's a chance of being able to take up some open offer shares??
Well if placing is at (say) 5p then PIs could sell and make a profit (providing SP doesn't fall significantly) and if placing is at current 10p then the SP should increase on this "doubt" being cleared...I can understand why you wish to stay out for now but surely you need to hold the shares to take up the placing imo?
Maybe the RNS on fundraising will be issued in the very near future? All these contract wins since the Feb 2012 RNS should make the fund raising viable imo. Perhaps the BOD are waiting for the SP to improve first?
Buying more! At this rate, Avia may not need £ 500k fundraising - at least not in relation to its survival - just for development as Riddler mentions below.
Thanks re STY. I've already invested here circ 12p and agree SP is ridicious! However I thought NAV was circ 26p? (will check last update/results).. Might add more this week before market cottons on! (HVE is another share worth looking at imo)