Hello, also we reduced our outstanding shares recently in order to increase free float - LEM is only owning 67% of the outstanding shares right now - we got a bit caught by heavy intervention of an important investor.
He bought up shares on the market to increase his participation which is a good thing as it is enlarging the number of important investors we have in our company.
Prices of 1.8 $L were paid at the end which are still below our NTA which is >2, compare with finincial section in our prospectus.
And then somebody made fun of the situation and bought 1 share for 298 $L so that our company value exploded to 450 million. We appreciate this confidence in our capabilitites but think that such a value is a bit too optimisitic. However, and more seriously, we hope with our aim to increas the free float in our company that we can avoid such excesses in the future.
The share price increase has also an impact on our derivative LWI which was also extremely bullish today and gained approximately 70% because of the development in LEM.
I hope these information are clearing the situation as I was asked from different investors.
No magic just some activities and it's better things are aiming upwards isn't it...
Greetz Casper
LEM, CEO
House of derivatives (LFB, LWI, LHH)
http://lemurinvest.blogspot.com
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