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I think they will try and get them cheap. But there is clearly very little selling going on, and when it did get sold into on the 18th it was bought again very quickly!
So cheap would now appear to begin with a 3.
I think the market makers are reluctant to speculate on the outcome, hence the spread.
I don’t think they expect it to drop on news. However the liquidity has slowed up a little the last few days which doesn’t help the cause of tightening the spread.
So why not leave the spread wide and see if they can sucker in a few more weak sellers
Market makers have gapped it up this morning. To entice sellers. They will fill the gap and then go bid (start buying the shares).
From a technical stand point I would be happier to see the gap filled before going higher again
https://www.share-talk.com/share-talk-bulletin-board-heroes-tuesday-16th-march-2021/#gs.vrpv0r
The news released on the 11th of Feb is key!
There will be an update on the revolving credit facility in Q1 - which is a $50m credit facility.
Also the shares have now settled - so just waiting on the Bermuda Monetary Authority to sign off on the acquisition!
Two huge pieces of news that could drop any time! And they have have the funds in place to complete the acquisition!!
Gilesfitzh - you are right, the TR1’s would not have been published if the shares have been delivered, so the prospectus must be en route.
I think the fact the shares have been delivered and we are trading at more than a 30% premium to the placing speaks for its self!!
And there we have it ladies and gentlemen!
Shares have been delivered as the TR1’s are out!
And Mark Ward has not disappointed us!!!! Massive increase from 12.85% to 19.6%!!!
By my maths he has added a cool £1 million to his investment
They just moved the price to 2.3-2.6p off one tiny trade.
There are no sells going through from placing shares! Mid is 20% above the placing price.
We saw a small dip last week that got bought into straight away!
I see this price action as really very promising