RE: It will be interesting4 Oct 2024 09:55
No Amy, it's a sell and took 20 mins to get through all at .3p. Right from the open the price was solid at .30p and didn't budge in any direction. Since that however, there has been quite a bit of buying. If the 45m had been a buy do you not think the sp might have been a little higher than .31p by now? And also it wouldn't have dropped immediately to .30p because the new shares being issued don't even hit the market for another two weeks
I think people are being too premature here and expect this to drop back to at least the placing price later today. That will be the time to buy back in for a trade if you're of that persuasion. Personally I've sold up. This is just typical of AIM CEO's at the moment. Present an entirely false picture of reality and don't even mention the most serious problems for the company and then do a placing for some ii - which will have been forward sold over the last three or four weeks at a much higher price than now. Same ii will offer similar deal in another 4 or 5 months if the company survives.
Looking at the general picture, any company that dilutes share holders saying we need to raise 31m so that we can sell some of our stock needs to be put out of business. Raise £1m and sell how much? £100k? Great stuff. Just the usual AIM cess pit and the CEO is lining up pis for his breakfast.