RE: Price next week6 Oct 2019 22:28
Bit naïve to think that because the whole reason for the exaggerated drop was MREL being pulled up until then it was sitting at around £3.00 and was as high as £3.19 I believe. Last week we raised £100m more than we needed, we have that rubber stamped and detailed in the RNS on Friday evening. Thursday last week saw us at £2.49 and then we saw profit taking and a bit of MM shaking - my view is that all the weakness has seen significant sized orders filled.
We have had repeated stories in the press suggesting a takeover or takeout at these levels, so with all of this in play I think we are looking at a pretty good entry point for a number of investors. Unlike some they won't need to be averaging down as they are getting a very attractive price with any potential value I believe can be 5 times what we closed at on Friday.
As some have said this is a marathon, but there is massive upside at these levels.
GLA and see you in the morning.