Friday night action on this dual listed stock looked very promising.
The direction for NYO is now becoming clear. Directors will each receive 8,000,000 performance rights if they complete an RTO and another 8,000,000 performance rights if they can get the market cap over $10M for a period of 10 trading days. With the current shares on offer this looks like somewhere North of 0.6 cents is the target and if they get a sexy Fintech deal I can see double that on the horizon.
With the announcement of Harwood Capital joining the share register, this jumped out of the gate on Friday night as Harwood typically invest in much larger positions.
Most shareholders are sitting on massive losses, so there should be plenty of free stock come available on a small price rise.
I found this interesting article about, "Former Guinness Peat Group (GPG) executives Blake Nixon and Max Lesser, who have spearheaded a host of activist campaigns against failing boards over the past two decades, are raising an initial £50m for a turnaround fund through their new firm Worsley Asset Management". And guess what, they have been seeded by Harwood Capital Management.
ASX on Monday should be interesting.
If feels a bit lonely on this thread all by myself, so hopefully others can stop by and contribute.
Here is how the UK price action played out in the last session.
NYO Price at posting:
0.2¢ Sentiment: Buy Disclosure: Held
