How long to arrange a Placing?22 Mar 2021 09:56
It has to be asked...
In my opinion, this placing has been in the making for at least a week and what was the share price when the placing was conceived?
The share price was at 0.23p only last Wednesday so agreeing the price at 0.25p was hardly a discount.
And what was required for the placing to be delivered and concluded?
1- The company had to approach their broker
2- Broker had to agree the price and the approach
3- Company had to put together their presentation and
4- Presentations would have been held Thursday and Friday
5- Tenders for new shares taken likely Friday and
6- RNS prepared over the weekend
In my thinking, this placing is at an ideal time. The CEO is pumped and the deal coming through are changing the outlook.
The funds will be used to speed growth and from the podcast Friday the CEO is excited as to what can be achieved.
For me, the wrong price below 0.30p