Member Info for slowlyslowly

How did you find that out?

Then we wait to see, not only what the introductory statement says, but who says it.

Indeed, for this reason, we should have this fairly soon. I would assume there needs to be a board meeting ASAP to elect a (proposed) new chair, even if there is no other business.

Do we even know who is chairing the newly constituted board, and who CEO is?

But to flip it they either had to find buyers to take the new shares off them, or market makers willing to hold long-term. In either case, one again asks who and why?

And yet, somebody has just invested £175k into this.
Who?
And why?

Who's Thomas Grant and Company? With that sized holding, do we assume that they picked up lots of the recent issues?

Well, I think my question was a fair one.

I can last find Walker Crips topping up in February 2018. The next shares issue was 16th April 2018 where an extra 71m shares took us to 583m, so when WC last bought in there must have been 512m shares in circulation.

After the latest issue takes effect, we're told there will be 3,632m shares. That's a dilution from 512m of 7.1 to 1.

So if they had 18% in February 2018, without selling a single share they now hold just 2.54%

18% before or after this latest dilution? Or before one of the earlier ones?

Robinson2018 - you do realise that they have no longer got even a possible source of income?

The persistent rampers on Twitter have finally gone quiet.

Because the Company refers to Photonstar LED Group Pld, the AIM listed company.
The Company used to own two trading subsidiaries. Photonstar LED Ltd was put into administration last year. That left them Photonstar Technology Ltd. This latter company is to cease trading - not in administration, but in an orderly way.
That mean that the Group, the "Company" no longer owns any businesses that are trading, which means it will become a cash shell. However cash shells do need cash on their balance sheet, so for the cash shell to acquire another trading business will require them to have enough cash to make it work.

Are those still owned by the group (by the shell)?

We have had two dilutions since were at 0.20p. I can't do the sums off the top of my head, but they also need factoring in.

EQT is up 2% today, which is hardly "flying"

If this was genuine inside information, it would have been released via RNS. Unless it's an RNS intended for tomorrow morning but released early by accident, it sounds like it's an opinion piece from Halifax, giving their interpretation of the data we all have from the RNS last week.

@N3RD Where's that quotation from?

I make it a total of just under 60m shares bought in total there.

Helpful. I was simply wanting to turn your observation round. I'm neither one of those who thinks this is about to rocket, nor one who thinks it's about to crash. So I wanted to ask the same question both ways around.

You asked: If PSL is about to announce good news, what reasons could the CTO have to resign from the board at this point?

So I asked: If PSL was about to call in administrators, what reasons could the CTO have to resign from the board at this point?

If either scenario means that his resignation would make no sense at all, then that points to the other outcome.

In fact, others here have pointed out possible reasons for his resignation in both cases.

If the company is about to announce good news, his resignation could be because there's a new broom sweeping clean in order to bring about the success. He doesn't fit in the future plans for PSL, so he's gone.

If the company is about to go under, his resignation could be because he has foreseen that, and doesn't want to have been a director of a company at the point of its bankruptcy.

Thank you for helping me to see that clearly from both sides.

Assuming something bad is brewing, what would he gain by jumping now?

... except that it is near the all-time low; if he wanted to buy back on a dip, now would be an excellent chance. Then he'd be long, and cheering from the sidelines