Parrotdog - Craft Beer

[Jaa]

Parrotdog has over a 1,000 shareholders and a market cap ~27m so deserves a thread somewhere.

The company has two classes of shares, Ordinary Shares with voting rights and Investor Shares with limited voting rights. Caused by raising on two different equity crown funding platforms and trying to keep under 50 "official" shareholders to avoid becoming a code company. The voting rights are not worth much as the three founders control ~65% of the company.

Something strange recently happened in their first secondary trading event held on Orchestra. The price of the ordinary shares settled at double the price of the investor shares with reasonable volumes in both classes. Anyone know why?

[stoploss]

JAA, I picked up a few investor shares as they looked to be going cheap …. Time will tell .
From looking at both markets it appeared to me that there were quite a few sellers of the investor shares ( times are tough ) .First opportunity to raise cash… $ 1.00 wasn’t too far from the earlier raises …
As you have said the other shares are more tightly help . Someone was buying a reasonable parcel of those at 2.00 so it leveled there .
I also have shares in Behemoth, recently raised at 90 cents . They have a closed chat for shareholders , seems to be quite a few people popping up with odd parcels to sell as well .

[huxley]

There are 13,891,045 shares, so the investor shares were trading at an implied market capitalisation of just $13,891,045 ($1.00) and the ordinary shares were trading at an implied market capitalisation of $27,782,090 ($2.00). As you say, the voting rights are not worth that much more given the directors control the company, my guess is the buyers were simply acting irrationally.