RE: Bullish day5 Oct 2024 10:00
Nah mr investor. Come on, think about it. Would an ii bother lending a highly risky company based in Africa £1m at .28p in order to sell all those shares at about .32p??
No Mr investor93, imv most have ALREADY been sold way above that. There has been a big seller here for the past two months and the price has been held strangely high considering sells have massively outweighed buys for most of that period. The share price has been hovering at .40p and above with no particularly good news so unfortunately I think the placee has already made a whopping profit. Now it's just for retail to try and predict what on earth this new BODs is up to. Going by usual AIM shenanigans, and especially with companies based in high risk territories eg Russia and Africa, the final outcome will not be in favour of ordinary pis who are simply seen as the go-to cash cow any time dodgy directors need their salaries guaranteeing. Just the way of AIM I'm afraid.
Half a million quid bought yesterday bought at about .3 - .32 p. At some point very soon this is going to get ugly. Very ugly. The ongoing issues with WBI's workforce have NOT been solved as far as I am aware and the company now has a few more months to keep holding out to their demands for proper pay and proper contracts. Precisely because it's in Africa no one here in the UK can check out exactly what is going on. No one is going to jump on a plane to see for themselves are they? Would you? I'm certainly not going to. And so the CEO can peddle what ever rubbish he likes knowing he's far away enough from any serious scrutiny that could hold him to account.
Give it a month or two and then I think we'll hear of the company applying for administration. Actually something very similar happened with a company called Eastern Imperial, based in NZ, that dealt in luxury drinks mixers. One month before they filed for administration the CEO - one Tony Burt - did an interview in which he said how excited he was for H2 in 2024 and that things were looking really good. He failed to mention that the company had stopped its production entirely for a period of 6 months in the previous year (the market was never informed by RNS) and that the company was broke. The CEO spun a tissue of lies over the last two years and should be prosecuted for lying to the market and providing false information. Of course nothing happened. I think similar will happen here. The Directors, like Burt, got away a last placing and will take another 6 months salary and then it's caput. Workers walk away with nothing and ordinary share holders likewise.