it does not make any sense at all2 Feb 2016 08:52
Traditionally - any placing is normally at a discount (No one wants to pay the going price, and will want an incentive to invest)
The RNS says EXISTING shareholders and DIrectors bought in - Even MORE of a reason to expect and demand a discount.
This begs the question:
a) They did not want to just buy shares on the open market - as that would not assist the companies coffers (So)
b) They wanted to help the company to invest further money into the business directly
So WHY at a premium to current value, when by doing so they were eroding their existing holdings - UNLESS....They know that to DO so would raise the SP - on their EXISTING holdings.
I dont know - Its weird and unusual - so watching this with interest.