The speeding ticket says the announcement today was non regulatory …looks like a pump to get the placing away? I would say anything over 10p placing could be a good deal in todays lousy market.
Hope people don’t get spiked here.
Dyor
Surely if the company had good news to report they would have reported by now? The NOMAD should insist on the company putting out a statement to the market. Sadly with AIM, any delays are seen as a calamity and people will rush for the exit. If it is refused by the FCA, the SP could easily drop by 50% just as it could easily rise by 100% on a successful application.
DYOR
The BOD will have incentive to get the SP up to take up their options:
The New Options have an exercise price of 2p per option (being the issue price of the Company's most recent fundraise). All New Options are subject to the following additional performance based vesting criteria:
· the closing share price of an Ordinary Share must exceed 4p for a rolling 30-day period; and
· the Company must have achieved annualised recurring revenue of at least £3.5 million, when reported in the Company's full year or half year results.
"The New Options will vest equally over three years as set out in the Announcement. Following the surrender of historic options and grant of the New Options, the Company currently has options outstanding over 9,803,894 Ordinary Shares, representing 8% of the Company's total issued share capital."
Davey, the free float is less than 250m as the major holder holds over 330m.
If they are adding today and we see another TR1, we can easily hit 2p plus.
The share 10 bagged in 2009 from lows of 2p to 28p a few weeks later. Anything is possible in AIM.
DYOR
Cannot buy even 20,000 shares at 1.30 ask FFS.
The major shareholder holds over 50% of the company, low free float means huge movements as we have seen this morning.
Could easily hit 2p this PM, this is AIM after all and nothing surprises me.
DYOR
Yes, I agree, 10p can be seen again if the company is rescued. The fact that the exclusivity period is till 6 September 2023 gives sufficient headroom to do a deal.
I can see 3p being hit easily this month as supply of shares is tight and limited IMO. One TR1 of Fleming or Benamor and 3p could be hit in a flash IMO.
DYOR
Looking very positive here:
12-Jun-23 11:09:35 0.84 1,000,000 Buy* 0.70 0.80 8,400
1m buy gone through above ask ....Looks like something is happening alright. Let's see the SP back at 3p.
DYOR
In which case the minimum that can be bid is the highest share price that either paid in the past 12 months under Takeover rules.
Interesting one to watch and I have put in 5m tickets to see where this goes.
Placing was at 0.15p and warrants at 0.225p. Cash burn significantly reduced and expecting to be EBITDA positive in the near term. Todays update looks good reading to me by getting rid of loss making units and keeping the positive gaming business. Expecting TR1s today with the volume and a rerate next few sessions.
DYOR