AFT Pharmaceuticals

[tango]

I think my application was #360 so I don't think many shareholders applied. I applied at 5:30pm NZT

I didn't apply for a high amount as I thought it would be oversubscribed. Maybe not??

[HITMAN]

I applied on the 22nd, my number was #233.

Maybe retail investors don't have a heap of spare cash in their pockets atm.

[tango]

I applied on the 22nd, my number was #233.

Maybe retail investors don't have a heap of spare cash in their pockets atm.

I have to admit I am splashing cash around a lot less than I was a couple of weeks ago. Too many opportunities...

I applied for the same number of shares x$3.75 that I already have as I figured I wouldn't be likely to be allocated any more than that. Maybe I undercooked it but the share price isn't a lot more than the offer price right now.

[HITMAN]

Same here Tango, If I get my full allocation I've double my holding. I think its the wrong time ( COVID-19 ) for owners to be selling down, disagree with it completely. It shows they see the company as overvalued. Don't want to put too much skin into this one.

[MarineSalvage]

Cant really begrudge a small sell down, also given the need to cash out one of the early investment funds. Personally I'm pretty happy that there will be a little bit more liquidity and will be interesting to see how the COVID phase coupled with winter flu season helps sales...

[trader_jackson]

Same here Tango, If I get my full allocation I've double my holding. I think its the wrong time ( COVID-19 ) for owners to be selling down, disagree with it completely. It shows they see the company as overvalued. Don't want to put too much skin into this one.

The owners are selling less than 1 million shares... out of 73 million shares they own... aka virtually nothing... maybe want to go and build a deck perhaps... the large majority of the selldown is done by a specialist US fund (CRG) who invested in AFT in 2014, have made a decent chunk of coin, and now wishing to exist - fair enough... but it really isn't the 'owners' selling down (much)... they still own a near ridiculous percentage of the company and I'm sure they'll happily sell down a few million more (via placement) when the share price is $7 or $10 in a few years time

The liquidity increase should mean AFT is more attractive to many.

[trader_jackson]

Directors are jumping in (buying on market)...
David Flacks - Chairman - spent $77k at $3.87 to increased the number of AFT shares he holds by 14% to 165,431
Jon Lamb - spent $47k at $3.85 to increase the number of AFT shares he holds by 6% to 220,077
Not sure if they'll also be participating in SPP or not... but regardless, clearly keen to hoover up shares at sub $4.

AFT didn't even put out an NZX announcement late last week to kindly remind everyone that the SPP was closing on Friday 26th June...

Hard not to have confidence in AFT really!

SPP allocations should be known Wednesday next week.

Another day, another director purchase...

Jon Lamb buying even more shares - spending over $56k at $3.85... he now holds just under 235k shares.

Directors certainly seem to think the share price is cheap

[MarineSalvage]

totally agree

The owners are selling less than 1 million shares... out of 73 million shares they own... aka virtually nothing... maybe want to go and build a deck perhaps... the large majority of the selldown is done by a specialist US fund (CRG) who invested in AFT in 2014, have made a decent chunk of coin, and now wishing to exist - fair enough... but it really isn't the 'owners' selling down (much)... they still own a near ridiculous percentage of the company and I'm sure they'll happily sell down a few million more (via placement) when the share price is $7 or $10 in a few years time

The liquidity increase should mean AFT is more attractive to many.

[peat]

T have made a decent chunk of coin, and now wishing to exist

I agree with them exit and exist , for now.
Still AFT curious though and may buy any sig dips.

[tango]

“ AFT Pharmaceuticals Share Purchase Plan Oversubscribed
AFT Pharmaceuticals Limited (NZX:AFT/ASX:AFP) (AFT) is pleased to announce
that its NZ$2 million share purchase plan (SPP) has closed oversubscribed.
The SPP received strong shareholder support with AFT receiving applications
totalling approximately NZ$9.8 million. Applications will be scaled on a
proportionate basis in accordance with the number of AFT shares held by
applicants on the SPP record date (9 June 2020). Refunds of surplus
application amounts paid will be made to applicants in accordance with the
terms of the SPP offer document. “