RNS : Block listings, SIP Shares27 Oct 2022 12:59
Why has nobody mentioned this elephant in the room?
"The purpose of the block listing is to satisfy the issue of shares under the Company's employee share option schemes including the 2015 Management Retention Plan, the 2015 Executive Director Retention Plan, the Executive Incentive Plan and the Star Energy LTIP.
The Shares are expected to be admitted to trading subsequent to 8:00am on 31 October 2022. Any Shares will, when issued, rank pari passu with the existing ordinary shares of the Company."
- They issue 1m shares and options for their SIPs, and that's why it went down.
It will probably be bid back up to 34p or more on the 31st to compensate.