Lock-in arrangements prove worthless….again
AIM corporate broker finnCap has yet again run roughshod over the terms of an AIM admission document by arranging a secondary placing of shares well within the lock-in period. This is the second time in recent years this broker has facilitated a transaction of this type. We aren't impressed!
The founders of Elixirr (LON:ELIX), a challenger management consultancy which we covered here, have sold 2,521,537 shares at 250 pence per share. The shares sold represent approximately 5.5% of the Company's issued share capital with the sellers still retaining a combined 40.1% stake in the company. We like the look of Elixirr, as our note here reflects, which appears to have made some progress since arriving on AIM in July 2020, however, up to now it has only reported interim results covering the period pre-listing and a brief trading update covering the period from June to September. One of things which reassured…