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12 days to go until repayment or rescheduling of $6.5m debt due 29 January.
Atlas converted last week so assume nothing arranged with them yet.
Clearly BOD had no idea what they were going to to at the recent AGM.
Dowling is 90 years old and part of a scheme for the BOD to offload shares now and buy them back later. Dowling is being paid a transaction to front it.
Is there anything in place that theoretically prevents La Mancha (20% of shares) buying out Orion (15% of shares) at an agreed price and then forcing a takeover bid (above 30%)?
Dark pools...
Three big buys today of about £700K, presumably all Maven. Yet there should be more to come through as delayed buys as their 1.75% short equates to £1.8m. Possibly these will show up tomorrow at higher prices as further delayed buys hidden in the dark pool from mere retail investors like most of us. If so should propel the SP higher and back towards 7p.
Maven have got a lot to buy back so will be a strong rebound at some point soon.