You have to ask...25 Jun 2021 14:06
What was it that John Story didn't like? He was obviously impressed with something in the build up to make him pump £1m into the firm in the first place, but the sudden U-turn and subsequent dump of shares should really have set alarm bells ringing for me, and everyone else. What did he not like the look of? A man like him would have obviously done his due diligence, but something must have changed, or more importantly, *not* changed in the interim period.
This was from CLP's 22nd Feb 2021 RNS:
The board of Clear Leisure (AIM: CLP) is pleased to announce that it has today raised £1,000,000 (before expenses) through the placing of 100,000,000 new ordinary shares of 0.25 pence each in the Company (“Placing Shares”) at a price of 1 pence per share (the “Placing”) to an individual investor, Mr John Story.
The net proceeds of the Placing will allow Clear Leisure to accelerate and widen the development of its crypto currency plans including: more quickly entering into cloud mining contracts with existing mining pool operators; financing the setup of a bitcoin mining operation in Italy; sourcing economic renewable wind farm and hydroelectric energy; in addition to the proposed operation in Italy, build one or more replicas of the Company’s existing bitcoin cryptocurrency infrastructure currently located in Serbia; and financing the developing of innovative hardware solutions for crypto currency mining and making a direct move in the segment of new crypto validators.
Francesco Gardin, Executive Chairman and CEO of Clear Leisure, commented:
“I am very pleased to be able to welcome John Story as a substantial shareholder in Clear Leisure and have direct access to the exciting technologies he has recently invested into, which could be extremely beneficial to our new cryptocurrencies initiatives”
I assume Francesco no longer has access to these now, and we're all clutching at straws.
First opportunity to break even and I'm out. I just hope that not too many are on the hook at 4p+