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So hidden amongst all the mumbo jumbo about 'discussions' and promises of large contracts further down the line is the confirmation that the triumph subsea services LOI has been abandoned because the company doesn't believe it will be profitable. I suspect they knew this when it was announced initially but needed to artificially raise the share price and excite shareholders so they could raise funds a few months later and line their own pockets with our hard earned cash.
On 14th May Afterpay was around $85 and Thinksmart was 66p.
Since then Afterpay has steadily risen to $114 (a 34% increase in price) whilst Thinksmart has dipped to 63p.
Doesn't make any sense but this pretty much feels like free money at these levels. Seems as if the Thinksmart price only reacts when Afterpay drops, but stays static when it goes up.
We've broken multiple support levels in the past year and with a steady stream of decent sized sales this will be below 20p soon without news of a large contract - on that note, I take it the Triumph Subsea Services announcement last year was just all smoke and mirrors? We've not heard a peep about it since.
We'll be getting back towards consolidation territory again at this rate. I think it's time for JW and his unnecessarily large bonuses to leave the company.
The last time the directors bought shares in the company was in May 2020...so for that to be the case they would have to have been sitting on price sensitive information for over a year. Seems unlikely to me.
Monkey, the call option that Afterpay have on Thinksmarts Clearpay stake isn't exercisable until August 2023. In 2024 it also becomes a put option fyi
Down 10% on such promising results is honestly baffling to me. Is there something that I'm missing? Just MMs trying to fulfil a large order and scaring smaller investors into selling or am I misinterpreting the results?
Aquae, with respect, your comment is a complete load of tosh.
'means Opti can sell shares without having to declare it I guess'
Why would that be the case? That would be a major breach, they still own the shares and selling or buying in a nominee account doesn't make them exempt from the disclosure rules.
'Nominee accounts create potential legal problems as your stockbroker owns the shares you have purchased, not you'
Your shares legally have to be kept separate from the assets of the broker, you remain the beneficial owner of the shares, they are just held in an account on your behalf separate from anything the firm owns.
'If they go bust you can have major difficulties recovering your assets.'
If they go bust your shares are still yours, the creditors can't go near them.
Pokerchips...so you think that every Director who holds shares in their company is guilty of insider trading?
Absolutely do not vote against. Whatever your opinion on the dilution, if you are invested why would look to actively harm the future growth prospects of the company? There is no way forward without the funding, you may as well just sell your shares if you are going to vote against.
"6.00 p.m. on 30 April 2021 being the latest time by which transfers of Existing Ordinary Shares must be received for registration by the Company in order to allow transferees to be recognised as Qualifying Shareholders "
Any shares purchased after that date will not be able to participate in the offer. I don't think I have ever known an open offer where the offer was announced and the record date was set for a later date.
Glad the last placing lined the pockets of the directors instead of going towards furthering the business. They've got another thing coming if they expect any investors to take up shares at 30p so soon after the last placing. They'll be lucky to have any shareholders left at this rate.
I have another account which I use to browse the comments on a few companies that I follow as I find some very useful information on this board, but I don't use it very often and have forgotten my login details. Nothing dubious I can promise you. I am certainly not downramping the shares, far from it, I still have a large holding here. I have just been burned before and was hoping for a bit of reassurance from the knowledgeable people of this board.
Alarm bells are ringing with this RNS today.. I've been involved with plenty of companies in the past who follow a similar route of announcing a 'letter of intent' or 'potential offtake agreement' for a large amount of money and then followed it up by having a capital raise to bleed shareholders dry using the good will they harnessed from the previous announcement, only for the previous contract to fall through.
I've been following INFA for some time and almost felt like the newsflow this year was too good to be true, and this announcement, for me, is confirmation that something isn't quite right here. If all was to be believed then this is a company that should be trading at a minimum of £2 a share. I hope I am wrong because I have been following this board and reading a lot of the comments and you are all seem like good people, but this stinks of management taking advantage of shareholders.
The 100 for 1 consolidation now makes more sense. It's much easier to raise capital at 45p than it is at 0.45p.
I've also looked into Triumph Subsea Services and nothing to me indicates that it is a company capable of ordering a £350m ship, let alone two.
I will hold onto the shares I currently have but will not be taking part in the placing.