How about 3. Does anyone have any faith in the BoD that we won't be sold down the river again in 18 months time with another placing or privatisation? 4. How do we feel that the BoD diluted our holdings 80%, with no notice, and then helped themselves to the cheap shares?
I agree, and have no explanation for the absolutely bonkers discount on the raise. Does anybody believe the raise would not have worked at .75p, given all the positive news and feeling for the products, great demand etc.
And if they do think that would have been a struggle, surely .50p would have been easy.
I've kept an eye on primary bid, and checked over the history of bids, and there's been many successfull raises at less than 10% discount, although probably 15 - 20% would be average, with the odd 30 - 35% looking a bit desperate.
TRX should not have been desperate at all, as you suggest, but they opt for a 76% discount? I just can't reason that, from any angle.
Thanks NMH. Moreover, if they buy as part of the placement, they are adding to the drag on the sp. If they are made to purchase on the market, they would be soaking up some of the placement shares that new investors will be looking to offload at a quick profit, and it will speed up the ability of the sp to start it's recovery.
Personally, I would have happily subscribed to a planned placement at .75p, given the confidence I DID have in the company's growth prospects. In fact, I've previously stated that I would have subscribed at an enhanced sp, if warrants were then available for future purchase at that price once the sp has risen. There were so many better options available, but the lazy and greedy BoD have acted without any consideration to shareholders whatsoever. It would be nice to see them replaced by better and more capable people to take the great products this company has forward.
I would like someone to propose that the passing of the funding resolution is dependent upon the directors NOT being able to invest at the placing price. Due to the oversubscribed fundraiser, their purchases are not required, and why should they benefit from screwing over us existing shareholders?
Thanks , and I too will hang on and see what happens. I was lucky (?) to have been able to scramble and apply for 3m shares to average down tonight, and grateful for posters here for that opportunity, however it ends up. Without that, I'd be averaging 1p, which would mean someone just having a go on tonights offer would be 300% to the good on those shares before many LTH's get to see break even. It's the complete lack of care to their shareholders that leaves me so angry.
There are obviously absolutely no governance rules in place on AIM, for a BoD to be able to sell shareholders down the river, in a 4 hour fire sell. They said they were funded until August, so how do they excuse this flash sale, and 76% discount? Joke. I have 3.5m shares, but know there's no point rushing to try and sell. Gutted, and very let down.
Is this really possible, without letting existing holders know, and have the opportunity to participate. No RNS? I found out on this chat board, after a casual look during dinner, and then had to scramble to raise funds to average down. Still doesn't feel ligit?
RE: Any spreadbetting platform with ODX16 May 2020 09:02
Personally, I try to pick a share that I believe is undervalued and has news or events imminent and take the longest forward position available. That's why I have Dec positions on ODX, as I figure it'll have happened either way by then. I only bet long, and where the potential upside is at multiples to any downside. I don't see ODX being less than 20 in Dec, even without any covid play. But with it, could be anywhere?! I average 58p though, so currently at a loss.
Thanks for posting this info. I particularly like the use of the word enormous, when describing the mis-match between the current market capitilisation and growth prospects. The day that funding RNS arrives, is going to be a very exciting one for all holders.