RE: Selective trade history?14 May 2020 16:21
More goings on with Asimilar today, although not directly involving the company.
Odd that it should occur on a day when some MESH holders have received emails from the CEO after what is apparently a period of silence.
AAA is being granted options by certain unnamed holders of warrants in ASLR to acquire those warrants which in turn allow them to acquire shares in ASLR.
It looks like they're getting in total 20,500,000 warrants each to acquire 1 share in ASLR.
15,500,000 @6p (expiry 31-10-20) and 5,000,000@18p (expiry 31-9-20) making an average of 8.9p per share and a total price of £1,830,000 to be paid out.
AAA are only paying £60k to acquire the options - presumably most of it covering legal fees etc but if they do exercise the options they will then issue 231M shares in AAA to the warrant holders @ 1.5p which would be equivalent to £3,465,000 or 16.9p per ASLR share.
Add in the legal fees etc and if the warrants are exercised they're paying the equivalent of 26.1p per ASLR share.
How come so cheap when the listed price prior to suspension was 47p and shares have recently been purchased @70p with options at 130p.
So - either the ASLR share are only worth 26p; or possibly there will be much greater upside owning AAA shares ie if the AAA shares triple then they will get circa 70p of value out of their ASLR options; or the warrant holders believed that they were unlikely to come up with the £1,830,000 required to exercise the options prior to expiry which is 4 to 5 months away, and this was the best deal they could cut in the circumstances so as to realise some value from their investment.
AAA bear no risk, apart for the £60K, as if the warrants expire it will have cost them nothing, apart for the £60K.
Warrant holders can't lose, as they get shares in AAA @ 1.5p if warrants exercised (already now up 31% to 1.9p) and don't have to worry about finding any cash. If the warrants expire they would have expired anyway.
AAA shareholders potentially win big getting ASLR shares for 26p, when maybe they're worth 47/70p and they themselves have recently taken options at 60p.
So now we know the likely purpose of the intended fundraising and why Peter Antonini is willing to pay 1.5p for new AAA shares with warrants at 2p, rather than the originally proposed 1p. If exercised and they are worth 70p it will be a big win for AAA.
Meanwhile PIRI has changed its registered office today - probably just housekeeping.
All suggests that the Sentiance deal is still moving ahead slowly, otherwise no one would be bothered going to all this trouble.
Of course for there to be any value here then the Sentiance RTO needs to complete and that company needs to be worth in excess of circa £70M.
All IMHO, DYOR etc etc...
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