Make that over £3m! Not a bad two weeks for Remote Monitored Systems non-exec chairman Paul Ryan as today he conducted his third large sale of shares in RMS in a deal worth £840,000.
Ryan now holds NO shares in the company in which he is overseeing.
However if this wasn’t bad enough for retail investors, Braveheart Investments also has NO holdings in RMS – selling 112,592,405 shares at a price of 2.66p to secure gross proceeds of nearly £3m. It is now considering what to do with the proceeds.
Our view – one for the Brave…
We have provided our opinion multiple times before the crash from 7p to 2.8p. This was not done for any other purposes other than to highlight the substantial downside risk.
Experiences such as these can only turn people away from investing for good – none of us should want that.
As we featured it at 1.8p – we kept an eye on it and the rapid valuation increase made us uneasy. The valuation took advantage of a whole lot of retail investor enthusiasm and little fundamentals.
The sellers may be ‘out’ but they are very influential sellers in the context of the company and come just after the company soared to new highs after claiming promising orders of intent for a single product with little else behind it.
RMS is certainly one for the brave (pun intended).