RE: Response from the board16 Mar 2025 08:31
Tony, they can only sell what someone will buy, so won’t have been able to sell in one go, hence the couple of million here a there.
Unfortunately, if they want out of the lot (not sure they do) then you could be looking at 12 months or more and a much lower sell price.
It’s possible there’s been a falling out between the two companies, probably over direction and costs.
PE’s comments about HUI having to pay like everyone else, would suggest that.
Possibly, also part of the reason for the urgent raise, as they know they need to money sooner than thought.
Reading between the lines, they may have been informed by the whites, that they intend to sell and therefore PE knows this will take longer than their current cash runway and so have had to raise now, rather trying to do it in 12 months when the SP IS SUB 0.003p