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.
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