Member Info for slowlyslowly

Agreed Milli. We need to keep our eyes on the prize here and not be distracted. As you say, nothing has changed in terms of the raw data that persuaded that long term holders to invest in the first place. So if nothing has changed, we wait. It'll take as long as it takes to do it properly.

My point exactly, only you put it more clearly than I did.

So my ponder is: who's the institutional investor about to nearly match Zark's holding?

Agreed, E_AL

=============================
The Company intends to raise £832,000 by way of the issue of 11,885,713 new ordinary shares of 1 pence each ("Subscription Shares"). The subscription comprises:
· a £269,640 subscription by Zark through the issue of 3,852,000 new ordinary shares of 1 pence each ("Initial Subscription Shares") at 7 pence per share ("Issue Price"), utilising the Company's existing shareholder authorities and conditional only upon admission to trading on AIM;
· a further £150,360 subscription by Zark through the issue of 2,148,000 new ordinary shares at the Issue Price, conditional upon shareholder approval and admission to trading on AIM; and
· a £412,000 subscription from other investors through the issue of 5,885,713 new ordinary shares at the Issue Price, conditional upon shareholder approval and admission to trading on AIM.
=============================

I'm wondering who the "other investors" are who'll take the 5.8m shares. It's really good to know that Zark are behind this. But it seems their intended investment is 6m. The other half of the planned issue will be by "other investors". The implication of the RNS is that these will be placed imminently after approval is given at the GM. So that doesn't give them time to organise an open offer or similar. Further, I wouldn't expect them to announce a premium-to-price placing of nearly 12m, and be hoping that private investors will be so convinced by the company's fortunes that they'll subscribe for nearly half the planned amount. That would be a strategy to fall short on the amount they need for their short-term pipeline of opportunities.

So there must A N Other investor (or several) in the wings ready to pick up the remaining 5.8m.

The "Results of Placing" RNS will be a very interesting read.

... and potted it in the top corner. Nicely done.

This site doesn't let you change your username. So he was 76 when he signed up. Or born in 1976

Meanwhile, small buys keep trickling in. Because today is the deadline to announce in order to avoid suspension, some may well still be expecting news today. After market close is very possible. If (big 'if', I grant) that did happen, there are 10 minutes left to buy before news. If anyone was holding off, hoping for a dip in the price to let them top up, now's their chance.

Yes, but (I know you know this) that doesn't mean it would be suspended tomorrow. No announcement today changes nothing: We'd still suspend after 4th October. And there's nothing stopping a full deal being released between now and 4th October, so that any suspension would be under a fortnight and would be with everyone knowing what comes after the suspension period.

So Tra1 is right: Today is only a deadline in one small sense.

Thank you, E_AL, that is very helpful. I was wondering why they were trading up and down small amounts, tipping over either side of the 19% line. Of course: It's because they hold a notifiable position as an investor, but their market making activity causes their total position to fluctuate. Thank you for explaining.

I think the 400k they notified buying today is more than this, as it's nearly a whole percentage point. But we may never know.

Thank you - don't know how I missed this. I made a mental note to expect Peel Hunt to reduce when Zark's shares hit the market, then forgot my mental note when it happened.
Yes, we should have expected their percentage holding to drop more than it did, and that's because they topped up to keep their proportion at 19% +/-.
They've gone from 9,572,543 -> 9,975,117
Striking that they topped up on the open market to ensure the placing didn't dilute them.

GM or EGM, folks. Not AGM.
I know it's a technicality, but the AGM only happens once a year and it was on 2nd August.
{/pedantry}

There isn't one.
If they don't complete one by Friday 4th October the share is suspended from trading, but they still have as long as they have the support of their Nomad to complete the RTO.

That's 5 before the market opens, 4 after the market closes, and 13 between the hours of 8.01 am and 4.29 pm

You're right. Ignoring price monitoring extensions, the past few RNS have been at
1.48 pm
12.02 pm
5.00 pm
12.51 pm
5.05 pm
4.29 pm
1.23 pm
1.52 pm
3.00 pm
12.52 pm
7.00 am
7.00 am
7.00 am
8.40 am
7.00 am
8.40 am
5.45 pm
7.00 am
1.36 pm
2.43 pm
5.02 pm
11.25 am

"Read my post"

You said this: "They have changed registered office to their broker address for correspondence whilst in suspension. Its really no rocket science."

Yes, they have to announce the EGM tomorrow to get it through before 4th October, but it wouldn't suspend until 4th, and they could still announce one between now and 4th Oct to leave just a short suspension between then and the scheduled meeting.

I'm not drawing any conclusions from their change of address RNS, but you were. You were implying that because it came through the day before the deadline to call an EGM, that means that suspension is the next day. But given the address changed 4 weeks ago, and was simply following Peterhouse to their new address (and so was inconsequential) your bearish conclusion doesn't hold.

Please don't tell me you sold those 3m shares again and now want back in?

Welcome back, Spikey.

>> "whilst in suspension"
>> "within the next 2 trading hours, or your money is locked up"

Given they have the rest of today and then 12 more trading days before suspension, what makes you so sure today's the last chance?

>> They have changed registered office to their broker address for correspondence whilst in suspension.
Why did they wait 4 weeks before notifying the change of address, do you think?

The address was changed about a month ago, if I remember correctly, but no RNS at the time, and Peterhouse changed their address to the same place a few days later. They've waited until now to announce it.

Mic test
One. Two. One. Two. Testing.

Ok it's working. They can start now.

Testing the RNS login still works?

I haven't got L2 access, so can't help there, but the spread is wide. Sells go through about 18.8 and buys about 20.5. So, if you look at Google that shows the last traded price as the current price (rather than giving you the mid price) it looks like it moves up then down 10+ % at a time whenever it switches from the last trade being a sell to a buy, or vice versa.

That said, one buy for a million shares went through at 20.4. The next buy was for just 328k shares - £69 worth - and they had to pay 21, so it seems even small buy volumes move the price up. So guessing at L2, I'd say there aren't many willing to sell at the current level, and any serious volume of buys will move the price quite a bit.