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Sphinx,
Its impossible to get an exact figure but should be able to get a more accurate figure when the year end results are released for YE 31/3/24. But even then we don't know if all the initial FF stock would have been sold by then.
For what its worth, this is what we know regarding sales.
Up to YE 31-3-23 £74k
First 6 months of this FY £299k
Next 1/4 to 31-12-23 £270k
and confirmed sales orders for Fruitflow II SD in excess of £320k were being processed as of 29-12-23
One to keep an eye on in August
https://core.cro.ie/e-commerce/company/search/5266601
I’m assuming then that the €348k of stock bought last year must nearly have all sold , anyone work out what that’s worth !
The cynic in me would think dsm sold shares to keep the sp down, while knowing they could get those 45m cheap ,
Sounds like IF played hardball…..
Alfista,
"Now, if we had also been notified that DSMV was the source of those sells, what would that have done to morale and the sp? Has ignorance been bliss?"
Your right, it probably has been but the rules are designed to enhance market transparency and failure to
comply with the rules risks damaging investor confidence.
Rant over :)
Thinking back, there has been a regular pattern of usually 500,00 shares hitting us each time a slight upturn happened.
Now, if we had also been notified that DSMV was the source of those sells, what would that have done to morale and the sp ?Has ignorance been bliss?
Been updated on the website now
https://www.provexis.com/shareholder-information/major-shareholders/
I am not reading too much into it as it was only around 13 million shares sold and dropped from 6.48 to 5.9%
But...... What if it had been 50 million 80 million 120 million?
The regulations are there for a reason and should be followed by all.
Gix
DSM seemed to have lost their way -hence the merger .
Frederick had seen the writing on the wall and voted with his feet.
The cash is irrelevant to DSM-F so won’t get carried away reading too much into it.
That said, DSM clearly not walking away .
One again IF has done what he said he would - Iteland/Stock purchase/ dilution. SP is still carp but everyday i walk past a car with a plate SP22P@@.
BH still have the submission front and centre, if they don’t get it it makes the regs pointless given all the science done in support.
Happy Easter Eggs
W-more updates please fordy-$
7 months since submission.
So the SP is up (slightly). So the market is taking it as a +ve. Probably it is not to far to reach our goal of 47P
Just for info
In July 2010 DSM sold 52 million shares leaving them with 143,769,230 shares and 12% of the company.
https://www.investegate.co.uk/announcement/rns/provexis--pxs/notification-of-major-interes/2438343
Their next holding RNS was May 2017 down from 8.2 to 7.9% holding the same amount of shares.
https://www.investegate.co.uk/announcement/rns/provexis--pxs/holding-s-in-company/5140966
No other holdings RNS as far as i can see.
Today we find out that they have sold just under 13 million since May 2017 and gone down from 6.48% to 5.9%
Surly DSM have missed a lot of Holding RNS's
Wonder if we will get one after the 5th of April.
Don't get me wrong, I am happy with todays news and the fact that DSM have increased their holding but they should be informing the market when a threshold is reached.
BB,
There has been a lot of sloppy holdings reporting here over the years.
I don't include SL in that.
Yep 2023!!
I think the contractually amount has been more than fully paid ,unless I am missing something
Nope! So the other €250k has to be paid in April
Does this purchase Include what they had to purchase contractually?
Gixer
Fair point on the 6% threshold. It sounds like DSM Venturing have, at some time in the last years or months crossed the 6% threshold without realising and have failed to notify the market.
I guess, in theory, they could have crossed 6% very recently and you have a certain amount of time to notify, but that seems very unlikely.
It doesn't make any difference where in the world you are, you have to notify every time you cross a threshold, and the threshold is each 1% above 5%.
No big deal really, in theory the FCA might people over the knuckles for not disclosing properly, but it's hardly up there with what Ken Morrison didn't do ! ( google it if interested )
As an aside, I never really understood how the disclosure rules worked when holders were diluted under a % threshold. I always thought they should declare that, bur I don't remember DSM ( or anyone else for that matter ) formally declaring that ... it just changes on the Provexis website.
Anyway, I digress, as far as I'm concerned the only important thing to take from all that is that DSM-V plainly aren't joined at the hip to their shares and have sold some in the past, quite possibly the recent past.
From the rns last April , The Company has contractually committed to purchase more than €550k of Fruitflow inventory from DSM thus far, of which €348k was delivered and paid for in full in the quarter ended 31 March 2023. The remainder of the inventory which the Company has contractually committed to purchase from DSM is expected to be delivered and paid for in April 2023.“,I think with this new purchase of stock that makes about €750k, would there be any stock left ?
According to the RNS DSM have 5.9% so would have crossed a threshold. How that works because they are outside the UK I don't know. A threshold of 5%???
If the not in public hands info was updated with the wrong % holding of DSM then this info is wrong as well 🤔
Yes Provexis has not been on the DSMV website portfolio for a very, very long time
Gixer
If memory serves me right the "Major Shareholders" page was updated on the 8th March to reflect the change in "not in public hands" info.
So, at that point, the only info ( well, formal info, it's possible, but unlikely he knew different ) Ford had on DSM Venturing's holding was their last holdings RNS. They dropped to 143 million back in 2010 ( or thereabouts ) btw. My guess though is they started to unwind their position some time since the AA ended but havn't gone through 6% so didn't need to inform the market.
Incidentally, as far as I can see, and I may have missed it, DSM Venturing no longer list Provexis as part of their portfolio, not even under Legacy at https://www.venturing.dsm.com/en_us/portfolio.html and havn't done for a bit now.
BB
One things for sure.....
They haven't sold 13 million since the 8th
Insert puzzled face here.
Agree with you, but Krusty seemed to be suggesting DSM where building a stake with a view to a bid on the company.
I don't think today's RNS supports anything like that.
The point I was trying to make was that this represents an historically high level of stock/inventory to carry. PXS wouldn;t have bought this level of stock unless they were confident of selling it within a fairly short time frame (because, I am assuming that this stock has a fairly short shelf life )
I agree that the RNS is good news - for all sorts of reasons and this "read between the lines" adds the icing on the cake.