UK 06:56 Sunday, 25 October 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Yesterday, shares in embattled Deepverge (DVRG) closed at just 2.75p-3p despite the reports here that its biggest liability, CEO Gerry Brandon ( aka the arse) had been handed a P45 and black bag. So where does this leave the rescue placing?
My original scoop of Tuesday, confirmed by Deepverge the next morning was that it was trying to raise £8 million (actually it was £9 million) at 5p but had been forced to cut the offer price to 3p.
However in a bearcast on Thursday I suggested that the offer price had been cut again to 2p. Clients of Deepverge’s broker, the esteemed house of Turner Pope Investments do not tend to do fundamental analysis but just demands a deep discount. I would suggest that few of them would sign up at a placing priced at a premium to the offer (now 2.75p). And thus might we expect an announcement on Monday that the placing has been concluded at just 2p?
That might be grim – especially if you backed the last placing in June 2021 at 30p – but it is better than the alternative.
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