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Hmm, good find that, they announced his arrival would have thought they will announce his departure also the new guy, maybe today. When he went to 4mll I did a check on the average and got it to 2.37p imo. Dropped about 100k of value from 4p early this year.
I have never been involved with a placing, at what stage do the buyers hand over cash for the shares, can they decline at the last minute or could the price be renegotiated if enough get cold feet given the rapid unexpected drop from 2.5p ? I bought on Thursday at the placing price but bailed at 2.45 to let things settle.
Had a quick skim through the rns's last holding was 27th May 2020 @ 5.99% which works out at about 23.8m shares with nearly 398mill in issue at that time.
This subsidary was first refered to in an rns about 4 years ago and is occasionally refered to today, but does anyone know what is it's purpose or who actually own's it ???
Some of the new issues that have crashed since listing just last year, Revb,, Polb, Parsley Box, Procook, Ciz, Polb, Thg, Deliveroo, all made their existing owners very rich and new investors very poor indeed.
They may not be in any rush to get this out of suspension until some progress is able to be reported at the same time to reverse the decline in the s.p.