Without CEO's purchase to boost the confidence, the price will be below 400 already, so the shareholders need to appreciate not complaint unless you are shorting which make sense with pants down.
As a CCO, selling the shares at a crucial time of his own company is unbelievable, how urgently he needs that amount of money? See no commercial sense at all in him.
Mr Hunbles can not deny this time it was a buy at 7.75, his denial of earlier 2m buy at 6.26 a couple days ago made a few investors missed the opportunity to buy at low 5s, now he is deadly quiet.
So in case of private investors not be able to fully subscribe, they will be taken up by institutions. For 40-45p offering, many PIs may not have the appetite to participate in the offering, but new and existing institutions do.
What is the probability of institutions taking up the most of offering (say up to Eur35m) and leave us the private shareholders with only Eur 5m to participate? I can not figure out the reason of BOD's action for such mess apart from they were pressurised by institutions to invest but at very lower price between 40-45p compared with 170p prior to announcement, that is 75% discount!
The company will announce a X date on the EGM, I doubt the date is 18th of Feb though, more likely in March, but who knows, they have made a mess on this offering.
The price will be Euro 50 cents minimum and they will be decided by the participating institutions, I doubt very much it is 30p, a lot us here will be happy to buy at 30p if it does.
The Rns did say maximum 80m shares to be issued once approved in GM, so it can be either Euro 50 cents or 100 cents depend in the number of shares to be issued.