There is a lot of controversy at the moment about the decision to call a meeting next Monday 7thMarch to obtain authority to issue 546M extra shares. Many investors are unhappy because their investment in the company has been slashed as a result of the proposed placing of new shares to raise £3.1M. Some investors who bought at 2.1p are now sitting on shares whose current sp is 0.58p!!! So big paper losses. The placing has resulted in the sp dropping and if approved, it may take some considerable time for some investors to breakeven! The money will enable the company to carry out more research and IF successful then the sp will rise!
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