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Trackwise Designs – another equity raise bailout-related shares settlement farce, shares now suspended!

By Steve Moore | Tuesday 20 December 2022

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.

Previously writing on printed circuit technology products company Trackwise Designs (TWD), last week I noted a 1p per share equity raise bailout despite the shares having previously closed at 12.65p – and that the best broker finnCap could apparently do. It included a proposed £1.5 million open offer though I concluded, as the shares slumped to below 1.5p, that with still “it is likely that the group will need to raise additional funding by the end of the third quarter of 2023”, it’s good luck with the open offer! And hopefully my prior warnings were heeded… avoid/sell. At 1:09pm today a Stock Exchange Notice, “Trackwise Designs plc - Suspension”, so what’s going on now?

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