RE: First Island23 Oct 2018 11:57
Goblesmythe.
01.03.18 ARC, a trading name of Shard (yes, that's right, Shard!) appointed as Joint Broker to BMN
26.03.18 Placing of $22.2 million announced.
So which broker arranged for which placees?
Interestingly I note that SP Angel are listed as the Broker for SOLG. Their recent placing was praised here, but just prior to that a Joint Broker was brought in, presumably to arrange the placing, and it is the Joint Broker that is named on the RNS re placing. It is not uncommon for a Joint Broker to be appointed for a major placing, probably to use their contacts. In my opinion that is likely to have happened here. It may well be that the placee under discussion was introduced by ARC.
And why shouldn't a placee sell their shares at large profit in just a few months? That's good business. Also we don't know why they are selling (different investment strategy, cash flow issues, etc etc).
This "hatred" of all things SP Angel is getting completely out of hand. In my opinion this bb has a well deserved reputation for rational, balanced and well researched discussion. Please please let's keep it that way.
Regards. Pdub.