RE: Look at the serious players invested in GDR05 Jul 2020 17:07
Well, interestingly the 5th May RNS does say
“The Company can request the conversion of the first $2 million of the GHIF Bond if for 20 consecutive days the average closing price exceeds 1.3x the tranche's conversion price and the remaining $6 million if the average close price is greater than or equal to 180 pence for 20 consecutive days”
‘The company’ is genedrive. It does suggest GDR can initiate which I did thing was odd at the time. Why they wouldn’t be clear on that in the conversion RNS if it was case I don’t know.
RE: Look at the serious players invested in GDR05 Jul 2020 16:34
Not assuming. It’s in the RNS.
“ genedrive plc (AIM: GDR), the near patient molecular diagnostics company, today announces that Global Health Investment Fund I, LLC (GHIF), has exercised its right to convert its US$8 million convertible bond into new ordinary shares in the Company.”
RE: Look at the serious players invested in GDR05 Jul 2020 15:31
I don’t think they necessarily have multi bag in mind, I think they would be happy with 50% or so and why wouldn’t they be?
It’s significant for me that they did convert but I am not sure how significant the timing is. If they were that confident, they could have converted when the share price reached £2 or £3 and gained exactly the same number of shares. So the timing for me either indicates that they thought now was the best time in terms of sentiment. Or they want to have the option to start selling sooner rather than later.
Either way it’s positive that they converted as it does show confidence in the company.
They had a convertible loan and converted it into 7.1m shares recently. It’s all in the RNSs.
I believe their average is approx 90p and it means GHIF thinks they can get more profit from selling the shares than the interest the loan would accumulate. The loan was to run until 2023 and had a 5% interest rate.
"I don't see any reason why this won't translate to a significant business for us, you know, but, I've already communicated that, that, that we expected orders in June, so, um, as a minumum we'll do an update early July. End of, end of June is our, ah, fiscal year, so we're updating that one anyways, and obviously if anything significantly price-sensitive happens, ah, before before that, we would, we would update the market as well."
DB said he would update in July as a minimum. You understand that there is a difference between 'I will update in July' and 'I will update in July as a minimum'.
The reason this keeps having to be repeated is because the same people seem to conveniently leave out the minimum part. At this point I think it's clearly just people being dishonest, you guys aren't incapable of understanding this.