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I agree.
An assumption has been so far made that it is the EBT buying. I am neither with nor against that assumption. I simply do not know. I did not interpret buying in the market to mean the bulk buying of institutional shares, if that is the case. I do not know why Cannacord sold or who may have bought them. Unanswered questions.
As I said before, were I a long term holder, perhaps holding from 3p I would wish I had never heard of Mxcp.
But I am not, nor will others be. And starting from that point, and the current price, I take the view that there is a deal more potential upside than downside as a result of MXLG and the GIF, for the concert party and pi's, no matter how many shares Cannacord may sell.
If the shares were not bought buy the EBT and were being held by Cannacord on behalf of a client who then made a transfer then that would lend more credence. Time will tell.
The shares must have been bought through the EBT and another 50 million subsequently. My worry as previously stated is that the requirement is being filled by institutions and Cannacord is The broker for MXC. I thought the buyback was supposed to be in the open market and this doesn’t look like an order placed with market makers and worked over a period of time. I want to believe in this share but it’s easy to see why many don’t.
There has been no change in sp. Presumably, again they have been bought. Why is somebody buying? As an investor, what is your view overall.
They presumably no longer want the shares.
Why are Cannacord selling?
Ravenscrofts assets under administration increased to more than £6.5bn recently. I can see MXC getting more involved in this side of the financial business with Ravenscroft.......https://www.investmentweek.co.uk/investment-week/news/3063225/lansdown-backed-ravenscroft-acquires-rlam-ci
Mxcp has investee companies at various stages of development, but for any potential investors these two paragraphs from the interim results dated 9th. May 2018 indicate the 'new' projects underway where efforts will be concentrated. In my view the share price is in the process of recovering from a June 2018 low of 1.12p, with the cash in hand to undertake a series of acquisitions into MXLG , a partnership with Liberty Global.
"We are proud to have been selected by Liberty Global plc ("Liberty Global"), the world's largest TV and broadband company, to partner with them in a joint venture to build a UK IT services business of scale over the next three years. MXC is receiving fees during the life of the joint venture and a share of the profit on its eventual disposal. Post period end, in April 2018, the joint venture announced its first investment, the acquisition of SICL Limited, a Leeds based, award winning IT infrastructure and network specialist."
"We finalised a partnership with Guernsey based investment services group Ravenscroft Limited to act as consultant to a newly launched technology fund, GIF Technology & Innovation Cell (the "GIF"), a protected cell of Guernsey Investment Fund PCC Limited. The GIF has three founding investors, the States of Guernsey, Pula Investments (the family office of Stephen Lansdown) and MXC. MXC is receiving a share of the management and performance fees payable in relation to the fund. The GIF has already made its maiden investments and intends to be an active investor in the technology sector."
Ravenscroft mentioned is an independently owned investment services group based in the Channel Islands, chaired by Stephen Lansdown, which has £4.7 billion of assets under administration for both private and institutional clients, and has recently completed the purchase of 25% of MXC Capital (UK) Limited for £2.25 million cash. MXCUK is a subsidiary of MXC and is the holding company of the Group's transactional business.
There may be part of the equation. Cannacord Genuity has sold about £500k. Someone ( EBT ?) has bought them.
81m volume. A good start!
It is a very liquid stock and trades of that size are quite easy to complete in the open market.
Now that they have been completed they can let the price go.
A lot of slack in the shares will have been taken up and we are good to go re the Buy and Build at MXLG and the recovery at IDE.
Tax is doing fine as it is and AD4 needs put out of its misery and ours permanently.
This is a very good time to be buying MXCP.
They already made it clear in the RNS regarding the buyback that the shares would be bought in the open market.
These trades are perfectly normal.They will have given their broker who in turn placed the order with their market maker.They would have then been filling this order for the past week.
The trades are not that large in the scheme of things.
They had to get these trades through in almost 1 go so that the price did not get spiked.
It was in their interests to place it as an iceberg and did not have to notify the trade until it was complete.Or in this case the tranches were complete.
Now that this has more or less been completed they can get on with the real job in hand of making those share buys very profitable ones.
Whilst I agree with your posts I am a little worried about who is selling in these volumes. Clearly institutional but all the large holders are on the friends and family lists. Just a thought.
Looking at the new delayed trades, it appears it is not so much a question of support, but buying prior to news at lower prices.
On the reasonable assumption the buyer is Oak Trust, and stating the obvious, it would be better to have some PI interest in future prospects, to move the price for Oak to support, if I am properly interpreting part of the intention behind the EBT. That may mean progress is imminent, with the initial 'buybacks' a forerunner of an RNS. But perhaps that is over-thinking it.
Agreed. A few more delayed massive trades today. The share buyback has begun?
That's more like it..............
Big trades but didn't shift the SP (yet)
Buyback or not, there has been fair buying at 1.28 - 1.30 over the month, culminating in today's trades. Certainly no sign of dropping back, as we wait for them to share progress. The partnership with Liberty was announced in November, only one acquisition of several has been made, and the cash required has been pulled in. Presumably the next acquisition(s) are being worked up.
Some massive trades at the end.
And then there is whatever, notably, MXLG has to offer. I think the second acquisition, said on 9th. May to be expected in the 'near term' will likely make more impact, when commentators can consider the combination with SICL. Mxcp has the cash at its disposal, which together with a co-investor and Liberty Global should prove sufficient to fund a number of acquisitions of the size of SICL, without detriment to shareholders.
Muted response today. But if nobody else is picking up on this and buying, it is known that Oak Trust will.
Good news today. Remember reading a while back that Smith used to sit on the board at Oak Trust. Upwards from here.
Completed. £2m paid to Oak Trust (Guernsey ) Ltd. who administer the EBT. The trust is a separate legal entity, and the payment is initially a loan, for reasons best known to those involved. Oak Trust may now buy MXCP shares into the EBT at their discretion.