Stake building25 Jun 2018 11:02
Looks like the company is trying to force someone's hand.
After blowing out Tencents's low ball offer and entering into a cash raise via convertibles Eric has opened up a door for a predator to pick up a stake in the company on the cheap.
Its now time for the predator to show themselves. Depending how aggressive they wish to be we could see a hostile takeover attempt in the coming days. Unfortunately this will not be at the 10p + level that I would like to see, especially as the share price languishes down here. I think we may be lucky to get 6/7p. For new investors this still represents a significant premium however for some LTH's who have not averaged down this will be a dissappointment.
Now that someone's hand has been forced I would expect to see concerted buying over the week with the predator forced to go to the open market to pick up stock and traders jumping in to ride the move higher.
Chris good luck with your 0.85p - you had a chance at 1.05 on Thursday/Friday - Did you take it?