RE: Price10 Jan 2025 11:50
Myles tweet:
https://x.com/mylesmcnulty/status/1877677820001832963?s=46
Well this is getting interesting at #TIR!
Bear in mind this investing company has onboarded Jonathan Bixby, a co-founder of Argo Blockchain, to invest the company’s resources in early stage crypto projects / memecoins.
TIR just raised £3m new cash at 0.1p to finance this new investing strategy, and had an enlarged mkt cap of a mighty £4.4m at the placing price.
The interesting point is the roster of new investors who joined the party in the placing, and just how tightly the equity is now held.
Premier Miton: 21.6%
Cantor Fitzgerald Europe: 11.1%
Zeus Investment Management: 7.9%
Jupiter Fund Management: 6.8%
Directors: 17.0%
~65% of the stock held by just these 5 TR1 groups, meaning there’s only £1.5m (at 0.1p) of “loose” stock available - and plenty of that tied up with HNWs who are unlikely to flip anytime soon (IMO).
Such a line up of well-known UK investors is highly unusual for a nano-cap stock. An exciting trade set-up that I think could go anywhere (and yes, I did take the placing!).