RE: TRX10 Jun 2020 22:37
I sympathise with you goldeninvestor as my average is also 0.52p. I had a nice little profit going before the BoD announced a discount offer akin to an Allied Carpets closing down sale! This company maybe the next step towards Star Trek like medical technology and the share price may soar off into the stratosphere in the future but for me I'll be looking to get out as close to break-even as I can. I cannot stay invested if I do not trust the BoD. Speaking of which, the BoD seem to have done rather well for themselves picking up a nice bundle of shares at bargain basement prices, isn't that a coincidence?
I'm also similar to you in holding a chunk of cash to possibly average down, depending on which way the wind blows over the next couple of weeks that is. I'm cautious of throwing good money after bad. My maximum time frame on this share is now 18 months (as opposed to indefinitely before the severe discount rate) as I can see the company would have worked through the cash by then if the profits don't come and will possibly go private or find another way to burn the long term holders. Don't get me wrong, I wasn't opposed to the BoD's plan, in fact I think it was necessary to keep life in the company. What has been a monumental issue for me is the discount rate applied to the placing, which seems unjustifiable to me.
My heart was saying that this company could potentially be a dominant market leader if the future (and it may still be) so I stayed invested. However, I should have gone with my head and sold at a +20% profit, especially on AIM.
I'd like to say that things will settle down now but unfortunately over the next few weeks I think that we're in for a rougher ride than if we were sat in a shopping trolley going down a craggy hillside. Good luck everyone.
NK