We would love to hear your thoughts about our site and services, please take our survey here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
50k sell at 10.50. Delayed. 25p
10:50:20 25.0000 200,000 O 0.0000 0.0000 ?
why have they put today’s date on the 12month low... i can’t see any 25p trades booked in today...
There should be. All very bizzarre.
Secker will know exactly who sold.
I wonder if there have been any ramifications following Mozzarella's genius comments?
Addicknt, I agree with your take on the legal requirements of a significant shareholder, but, I think all bets are off when the relationship turns sour. The COE estate was one, I'm struggling to think of another lol ;-)
At this rate of buys, mm will need to up the prices
Dallas, all significant shareholders have a legal responsibility to notify. The fact that the COE estate didn't, was either a result of ignorance of the law (quite possible) or was an act of wilful law-breaking. I wonder if they got their knuckles rapped?
It is inconceivable to me that a public company, or a fund manager, would fail to notify.
Look, it will happen, and the only point I was making first thing this morning, is that it's frustrating the rules are being stretched and that we are being kept in the dark over something which is quite important.
@addicknt....I think the point being made is that the COE estate sold down through notifiable figures and knowingly failed to notify BCN via TR-1. I'm pretty sure it was this reason that forced BCN to commission an external report announced in October to identify and quantify significant holders of BCN shares. Point being, if the seller decides to not issue a TR-1, we won't see one....
Yes, confusing, isn't it? The latest presentation gives their holding as being 2.3%. Who knows? However, if they sold their entire holding it doesn't really matter.
Check RNS dated 2nd October 2018 --- some discrepancy
Stated Orr-Ewing holding 3,141,282 [but in note 3....]
Holding in 2016 10,818,793 "no change notified since that date"
So where did figure of 3m+ come from? and was that correct?
actually TC, that's a really interesting point. If we assume KDNC were the sellers (as yet, I'm not convinced) I wonder if they'd vote against the resolution to increase the share capital with their remaining shares? It would be futile, but we know full well they are capable of petty vindictiveness.
Ivy, they don't own as many as 4.5m anymore. At least not according to our last presentation.
no... but they could stand up and use the 4.5m votes...
@addicknt How about trustees of Orr-Ewing family?
KM mentioned at recent webinar [kdnc] that they had sold recently without TR1 note
Last holding notified to bcn [in 2016-- see RNS] was over 10m
Would answer why no RNS from kdnc.
Kluck, my memory is a bit fuzzy on the timing issue, but I think you are right. I could check, but can't be arsed.
Looking at the possibilities, M&G and BR have a long track record of sticking by investments of this nature; I can't see Hanwa selling, the COE estate don't have that many shares and the others are related parties. All of which does rather suggest it was our friends at KDNC. And I have to say, I really do hope and pray it was them; the consequences of either M&G or BR selling don't bear thinking about.
As to the question of why the consistent buying isn't moving the price, my guess is that the MMs have to clear the 4.5m before we'd see a lift. And by my calculation, that hasn't happened yet...although there doesn't seem that far to go. Mind you, it's entirely possible the whole line of stock was placed with someone who is also yet to announce; in whch case, my theory falls on it's face.
If I remember correctly AIM rules require a company to update only when there has been a change in their shareholding structure - i.e.: if they have issued shares or options; or if they have been notified by a significant shareholder (>3%) of a change in their position via them filing a TR-1. It is the significant shareholder’s obligation to inform the company if they have moved through one of the tests, not the company The significant shareholder I think -could be wrong-has 3 days to file the TR-1.Thus the expected RNS could be as late as tomorrow
An announcement cannot be made during an AGM.
during or after the agm...
They are looking to leave aim luckily...once this debacle is sorted.
Addicknt - yes it is frustrating but as I said the other day on here the level of regulation on AIM as you know is almost non-existent which is why it attracts all sorts keen to exploit the opportunities that exist as a consequence. In most walks of life regulators struggle as the top talent choose to work within the industry itself rather than trying to police the industry. In the world of financial markets this appears even more stark given the rewards available which makes it even harder for those on the right side to make money but we will keep at it. I expect to see an RNS later today.
it's bloody annoying when everyone knows an RNS is due, but those responsible for issuing it exploit the time limits imposed by the regulations.