According to a press release just out, it seems a major investor in Minds + Machines has sold over 22.5 Million shares in the past 2 weeks.
“The Directors of Minds + Machines Group Limited (AIM: MMX) were notified by Guy Elliot on May 7th 2014 that following disposals between April 22nd and May 6th; Guy Elliott and the Elliott Family Irrevocable Trust 22,686,350 ordinary shares representing 2.8% of the issued share capital of the Company.”
The press release did not say if these shareholder sold all of their shares or what percentage of the shares they owned after the sale.
Shares of Minds + Machines closed down at 13P in trading on the AIM today.
Shares of Minds + Machines traded as high as 17.25P in the past two weeks and have a 52 week high of 19.38P
I had been wondering why their share price had been creeping down this week, makes sense now.
Does feel like a strange time to sell up just as M & M are moving into income generating phase.
Future does look bright for this company, i’ll be avoiding buying any new gtld’s & put my cash into Mind & Machines shares instead.