Sub 0.10p incoming21 Mar 2024 16:57
Ouch. Thank God I didn't buy in this afternoon, or indeed this morning. Well done to those of you who held their nerve and waited for the inevitable after hours rug pull. There are going to be many of you reading this with averages in excess of 0.25p and in excess of 0.30p no doubt, who are going to become the new baby holders nursing 50-60% losses tomorrow morning. When one reads the small print, there are no guarantees this will survive beyond the fund raise as you guys will have to vote on the second tranche of shares being released at the AGM in April. On top of that, Allenby have picked up 200 million warrants at an exercise price of 0.15p, with a 5 year time frame to exercise them. It seems that everybody apart from the shareholders have done very nicely out of these fund raises imo. Have a read of this paragraph from the last rns:
In order for Second Admission to proceed, among other things, Shareholders will need to approve the Resolution to be put to Shareholders at a General Meeting. If the Resolution is not approved by Shareholders, the Second Placing Shares, the Retail Offer Shares and the Subscription Shares will not be able to be issued. If that were to occur, the Company would receive significantly less funding than anticipated from the Fundraise and the Board believes they would have little alternative but to put CAP-XX into administration.
There is another paragraph under this one in the rns outlining how the warrants will work. Another ouch. I wonder if InvestorAce bought back in and wished he hadn't? I am sure those of us who held our nerve and waited for the confirmation of funding etc, will be the ones smiling tomorrow morning at circa 0.10p. TTFN. AIMO.
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