RE: Recent Information on Destiny Pharma3 Dec 2020 11:25
Some calculations for us all, I have been working out the free float before and after the recent placing, before is easy to work out via the destiny website under the capital structure tab or just type destiny pharma major stakeholders into google and it’s the first link. It was 66.6% of all shares held by major investors so a free float of shares for us PIs of 33.4% of remaining shares.
Now after the recent placing we need to dilute these down by the additional 15.9million new shares which hit the market on Monday giving 59,816,921 shares currently in issue, about a 26% dilution by my maths, factor in the two RNS from Sir Nigel Rudd and Unicorn assets management who have taken a 3% and 5% stake this gives a current free float of about 43% shares in private hands.
This is 25,700,000 shares give or take, I imagine as we approach results in q1 2021 this pool of shares will reduce and we may see increase in share price. I cannot see people who have taken part in the placing selling for sub 65p. With broker targets of £2.60 and £3 on a successful trial this share has much upside and little down IMO but do your own research.