A “Contract Win” announcement from Toople (TOOP) has presently failed to inspire the shares. Let’s take a look…
A blast from the past yesterday as I note that the Singapore-based investor, Epsilon Investments, has acquired 10 million shares in Toople (TOOP). As Epsilon’s history shows, it really is the modern day patron saint of lost causes, AIM’s very own St Jude; although I wonder if it recently had a very narrow escape.
As predicted over the weekend shares in Toople (TOOP) have collapsed this morning after Friday's after hours announcement of a £2 million fund raise at 2p. Suckers were invited to take part as the Friday closing mid was 3.25p. The spread now is 2p-2.5p so any flippers hoping to flip will be frustrated.
I suggested yesterday that Toople (TOOP) might not raise the minimum £1.15 million it needs as part of its £2 million Primary Bid placing. Knock me down with a feather.
Primary Bid's latest offer is its first non AIM placement. It boasts this as an achievement. But the company is Toople (TOOP) a proud member of Cynical Bear's Sub Standard XI. It is a dog and while I urge you all to join Primary Bid now HERE, I also urge you not to take up this offer.
After hours on Friday, Toople (TOOP) announced an offer of a lifetime, namely to subscribe in a placing to raise up to £1.9 million at 2p having spent the £2 million it raised a year ago (at 8p). This shouldn’t come a big surprise as the business announced in March that funding would be needed; however, I still think it is worth reiterating a couple of points.
I last commented on Sub-Standard Shocker XI member, Toople (TOOP), at the start of February (HERE) following its final results on 31 January, in which I was sceptical of its going concern claims and thought funds would be needed shortly. Funnily enough, it has now announced that the business is struggling and it needs new funds. No great surprise.
In May 2016, I commented on the forthcoming IPO of a David Breith-connected business, Toople, which joined the Sub-Standard List raising £2 million at 8p (see HERE). It currently trades at 3.25p, a disappointing 60% drop in a mere eight months, but I thought I’d take a closer look at its recent maiden full year results to assess where it goes from here.
