RE: $16.5 million investment4 Apr 2019 15:40
It's obvious that there are two things that are weighing on this rerate:
1) Final Payment as the market still needs to see proof that it will happen. Although the RNS is heavily weighted to it happening.
2) Cannocord, as already mentioned, are probably still selling (and I'm failing to understand their reasoning here, as it's a no brainer). At least they're being bought up. There could be some shorting being instigated but who knows.
Just one final point which will certainly have a bearing and on the latter, take a bit of time:
"Company has an order backlog of $30.6m.
-- The Directors expect that the completion of the proposed investment by Shangdong Ruyi and its operational support will transform the Company and its ability to compete and win major apparel manufacturing contracts from the world's largest retailers, developing the Ethiopian manufacturing base far quicker and with more certainty than the Company would be able to do independently"
Order backlog and have more clout to win major contracts from the Worlds largest retailers.......everyone needs clothes and generally renew on a regular basis.