As I am sure you are aware, we saw a rather unfortunate event in the stock yesterday, with a clearly manipulated "effort" to disrupt the natural trading behaviour of the stock.
Whilst these sorts of "glitches" happen in many stocks from time to time, in light of the recent placement arrangements you are undertaking, I respectfully ask that you perhaps pay closer attention to the nature of those to whom you are issuing stock.
It is fairly obvious we had sellers in the market yesterday, clearly aware of the placement price...maybe even those associated with the deal in some way...who were more than happy to decimate the stock for what amounts to a grab for cash.
Do we really need such people?
This is the last thing this stock needs at any time, but especially right now...these silly manipulative "stings" will no doubt cause ongoing damage to the stock.
It is clear we have had large net sellers in the market in recent sessions, which culminated in the snow-ball effect we saw yesterday...I suspect it might be a fair bet that this selling has coincided with your placement discussions in London...and just perhaps, were indeed a response to the difference between then current prices and the "placement" price as announced today.
Whilst the mechanisms for determining such prices are not an issue, nor indeed the discounted price itself, which I feel is a good result for the company...I am none the less concerned with the nature of those you might be bringing on to the register.
If recent activity is anything to go by, I respectfully ask that you reconsider your vetting process.
We may well be better without these people on the register if yesterday's activity is any indication of their wider intentions for the stock.
We currently have (had?) a very disciplined retail presence on the register...it would be a real shame to damage this with an often "terminal" insto presence...perhaps we could do it differently to the others and avoid the typical manipulative antics some of these into's and funds exert on stock they get involved with?
These sorts of "players" have nearly killed off NDO, who's share price is now more or less at the whim of the controlling block of funds and insto's who now milk it for cheap placements...dictated of course by their own manipulative hands.
CVI could do it much better without such "insto support" in my view.
Respectfully,
Trade4profit
CVI Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
