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Catenae - placing at 1p (77% discount). We told you so, and more equity issuance to come?...

By Nigel Somerville, the Deputy Sheriff of AIM | Tuesday 21 April 2020

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.

Last Friday I called the announcement by AIM-listed Catenae Innovation (CTEA) that it was joining a consortium to track Covid data, an absurd spoof. The only questions were how partner fm2x had worked with fellow partner Z/Yen for over 25 years when it had only been in existence for 13 years and at what price the placing would be. Yesterday Tom Winnifrith was even more specific, naming the placing price and that there would be warrants attached in his Bearcast. By the time his dulcet tones transferred from recording to the internet, Catenae announced a placing. So much for not knowing how to play this Covid game!...

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