sorry dont hav a link, hope this helps. im not one of those dime a dozen, bolier room boys.the company is in loss at the moment, but i still feel it has a bright future. i believe in the product and the concept - and THATS why im talking about.
11 October 2005
Timestrip plc
(`Timestrip' or the `Company')
Placing to raise #2.4 million
The Board of Timestrip plc is pleased to announce today that it has successfully completed a Placing of 40 million Ordinary shares of 0.02p per share at 6p per share to raise #2.4 million. The Placing was with 5 institutional and professional investors, including HealthCor Management, a US based investment management company, focused principally on global healthcare and life sciences.
The placing price of 6p represents a 22.5% discount to the closing price of 7.75p on Friday 7th October and compares to an average closing price of 6.23p over the last 21 trading days to that same date.
These new funds complete the Company's funding requirements outlined at the time of its introduction to AIM via a reverse take over and will underpin the Company's R&D and development work for the foreseeable future as it makes rapid progress in commercialising its patented smart label technology.
Paul Freedman, Timestrip's joint CEO commented:
"I am delighted with the progress we have made to date in our key international markets as well as the continued from support new and established investors. We now look forward to driving forward our commercialisation strategy."
The new Ordinary shares will, when issued, rank pari passu with the existing Ordinary shares in issue and application will be made for these shares to be admitted to trading on AIM.
For further information:
Paul Freedman, Joint CEO, Timestrip plc 01462 440 700
Roland Cornish, Beaumont Cornish Limited 0207 628 3396
Shane Dolan, Biddicks 0207 448 1000
END
A Dashing Blade said:
neil is absolutely correct.
In the real world a lot of the "spivvier" stock trade at sub 10p (anyone else remember Prontoprint, Barbican Holdings).
The company may or may not be worth it, I don't kow, but I can't think of a good (ie reputable)reason why a company has a 10 for 1 share split (28 Feb 2005) when the stock is around 40p.
Interim results till June 2005
http://www.londonstockexchange.com/LSECWS/IFSPages/MarketNewsPopup.aspx?id=1073519&source=RNS
make interesting reading (too many negative numbers? hey, you decide)
"There was recently a placing of this share with institutionals - which shows the confidence some have with this company. " er gotta link. No mention on either company website or Bloomberg of this.