Trackwise Designs Share Discussion Threads

[fez] 09/12/2020 07:11

Open Offer closed oversubscribed. The Company has decided to accept applications under the Open Offer for £1.625 million (previously £1.0 million) in order to provide a greater opportunity for participation in the Fundraising by its shareholders, and in so doing, further strengthening the Company's balance sheet.

Qualifying Shareholders who have validly applied for Open Offer Shares will receive their full Open Offer Entitlement. Applications made under the Excess Application Facility will be scaled back pro-rata such that 74.56 per cent. of the Excess Application is satisfied.

[andyview] 09/12/2020 04:19

You not think it’s a buy?

[74tom] 08/12/2020 22:24

55k sell at £2.40, placing shares flipped for a £22k profit? It’s effectively free cash so why wouldn’t you?

I’m very curious as to how this develops from here. The other angle which hasn’t been discussed is that perhaps the institutions drove such a hard bargain because they don’t fully believe management have what it takes to deliver the arrival order. Therefore, the cash was provided at a severe discount to balance the risk of execution failure?

[ifaze] 08/12/2020 11:10

Timbo003, no we won't know how many we are getting unless we are direct shareholders (as they presumably could do a calculation themselves based on the announced scaling back rate). For those of us who are holding via a nominee account it is a bit more complicated as all holdings with that nominee will all be lumped together and reduced accordingly. So there could be a disparity depending on who has applied for what?! If you happened to be with a nominee whose other Trackwise customers had applied for less than the average, you will be better off.

[ifaze] 08/12/2020 10:23

Of course they will tell us. And if it is oversubscribed the allocation may be increased, according to the offer document. Not long to wait now, anyway

[timbo003] 08/12/2020 08:16

There will be an opportunity to ask Phlip Johnson how the open offer is going tomorrow night:



Not sure he will be in a position to tell us though 🙄

[fez] 08/12/2020 07:35

They'll tell us.

If it's not oversubscribed it will be because PIs didn't read the offer letter carefully or watch the presentation - there were enough hints.

[amt] 08/12/2020 07:14

If it is oversubscribed will they tell us or will they be too embarrassed.

[ifaze] 07/12/2020 18:36

Your calcs seem reasonable fez. Hopefully most of the other shareholders won't have applied for as many as TicTac, you and me. I have applied for more than my current holding, which is already quite a few. Let's hope we are all smiling on the 10th!

[fez] 07/12/2020 18:08

Yes TicTac

Similar - I applied for 50x my allocation.

I did some calcs - all speculation - but fingers crossed...

We know the board (totalling 31.09%) won't be taking any in the Open Offer.
I think all of the top 14 holders (94.78%) will have subscribed in the placing which means they cannot apply in the Open Offer.

That leaves 5.22% of the shares in PI's hands.

There are 502,582 shares in the Open Offer. Therefore 476,347 between us.

Currently there are 22,113,622 shares. Us PI's therefore own ~1.15M shares between us.
On a 1 for 44 entitlement - this accounts for 26,136 shares. So approx 450,000 shares available in excess offer.

[tictac] 07/12/2020 14:42

It'll be massively oversubscribed.

My entitlement was 340 shares - I applied for 15,000. I've also bought a few in the recent dip.

I'm so annoyed that the company basically threw away GBP5m with the terms of the placing, but the opportunity here is substantial, and the risk modest.

I'm reasonably sure I'll have a holding here in 5 years time, and I'm hopeful that it'll be worth quite a bit.

[andyview] 07/12/2020 13:24

thanks tictac

[andyview] 07/12/2020 13:22

Latest time and date for receipt of completed 11:00 a.m. on 8 December
Application Forms and payment in full 2020

I guess a deadline of Friday with most brokers, today if you've got a generous one and tomorrow for the market.

Roll on 10th to see what we get.

[tictac] 07/12/2020 13:19

From the RNS (Formatting is clearer there)

EXPECTED TIMETABLE OF PRINCIPAL EVENTS


Record date for entitlements under the close of business on
Open Offer 18 November 2020
Publication of this document, Form of 20 November 2020
Proxy and Application Form
Ex-entitlement date for Open Offer 8 a.m. on 20 November
2020
Open Offer Entitlements and Excess CREST 8 a.m. on 23 November
Open Offer Entitlements credited to stock 2020
accounts of Qualifying CREST Shareholders
Recommended latest time for withdrawal 4:30 p.m. on 2 December
of Open Offer Entitlements from CREST 2020
Latest time for depositing Open Offer 3:00 p.m. on 3 December
in to CREST 2020
Latest time and date for splitting of 3:00 p.m. on 4 December
Application Forms (to satisfy bona fide 2020
market claims only)
Latest time and date for receipt of completed 11:00 a.m. on 8 December
Application Forms and payment in full 2020
under the Open Offer
CREST accounts credited in respect of On or soon after 8
Placing Shares, Subscription Shares and a.m. on 10 December
Open Offer Shares in uncertificated form 2020
Latest time and date for receipt of Forms 10:00 a.m. on 7 December
of Proxy 2020
General Meeting 10:00 a.m. on 9 December 2020
Announcement of the results of the General 9 December 2020
Meeting and Open Offer
Admission and commencement of dealings 8:00 a.m. on 10 December
in the Placing Shares, Subscription Shares 2020
and the Open Offer Shares on AIM
Dispatch of definitive share certificates 21 December 2020
for Placing Shares, Subscription Shares
and Open Offer Shares in certificated
form

[andyview] 07/12/2020 13:12

A fairly solid blue wall today but no uptick in price yet, perhaps after in they to a string finish??

When does the open offer close please?

Thanks

[mysteronz] 04/12/2020 18:19

All depends on their motive you can sell but you cant buy back in with the average volume here.

Plus you will get a bad name for yourself as an institution - why would other companies let you buy to just dump later.

These arent PIs looking for a quick £5k profit

[toffeeman] 04/12/2020 17:23

Pray tell

Why would anyone who bought at 200 not sell at 250 knowing that they could re-buy at a lower price?

[fez] 04/12/2020 17:20

amt, let's see who invested shall we.

I see TWD are presenting at the next AJ Bell Webinar - 9th Dec - so keen to get the story out there.

[amt] 04/12/2020 14:36

Fez But isn't that the problem. We will really struggle for ages to get the share price up again.
I find it beyond belief that the 2 quiders arent locked in for a year or two.

[smegster] 04/12/2020 11:57

Information from the open offer document

Admission and commencement of dealings in the Placing Shares Subscription Shares and the Open Offer Shares on AIM ,

8.00 a.m. on 10 December 2020

hxxps://wp-trackwise-2020.s3.eu-west-2.amazonaws.com/media/2020/11/27095930/Open-Offer-and-Circular-November-2020-1.pdf

[fez] 04/12/2020 08:41

I really don't think the £2 shares will be dumped on the market.

Volumes are typically low and any trading moves the price considerably. So impossible to sell 5.5M placing shares without bringing the price right back to 200p very quickly.

Will be interesting to see who they've gone to - hints in video of new well-known IIs.

[andyview] 04/12/2020 08:26

Looks good today, applied for significant excess but don’t hold out much hope !

Gla

[nesquikme] 04/12/2020 08:22

when does the £2 get dumped on market

[nesquikme] 04/12/2020 08:20

Get to 300p u slag