"when the rest of us were selling at 0.71p" ===== Just to be clear, that's the Royal "we" - I haven't sold any of my shares.
RE: now we know
HappyRob, I don't think we can discount insider trading - and if Henderson (or their subsidiaries/associates) should show up as placees or subscribers in any way to the upcoming fundraising then it will look very fishy indeed, to put it politely. As you may deduce from my correspondence with EW (if my link below works) I have been pestering him to investigate for some time but he professed not to know of any reason why the share price wasn't rising. https://www.dropbox.com/s/m7wo9q1r9gl8nxm/Shylock-Ed%20Winter%20emails.pdf?dl=0 I gather that Henderson had no regulatory obligation to release a threshold holdings RNS until today - but they have certainly missed out one market notification when their holding dropped below 10%. Currently we know only that they own less than 82m shares (it could be a lot less) so they have sold 100m, maybe more, since July 30. The most heinous part of this charade is that reported trades which went through at the top end of the *actual* spread (ignore the displayed spread) must have been sells masquerading as buys. The market maker has a duty to maintain an orderly market by feeding large sells through judiciously - but that doesn't extend to the kind of false reporting we have seen for months now. Typically a series of three concurrent trades reported at 0.75p, 0.75p and 0.71p must have included a false buy at 0.75p. This begs another question: why were Henderson selling at 0.75p when the rest of us were selling at 0.71p? I fear I will have to report all my data and suspicions to the FCA and AIM Regulation tomorrow; but dialogue is ongoing. I am all the more determined to force the company to appoint a City-savvy chairman - even if it requires an EGM. I think we might also want to force a change of house broker. For the moment, I am assuming that EW honestly reported to me that he wasn't aware of any reason for the SP's lack of responsiveness to all the positive newsflow…
RE: Who know
I doubt if anyone has made a big buy. The likelihood is Henderson have been selling small numbers of shares for many months and all their shares were bought by PI's. That would explain why no obvious sizable SELL trades have been recorded to account for Henderson's share disposal, while the share price continued to fall. What I do find strange is that this is the first notification we have had of Henderson reducing their holding, as my understanding is that the market should be notified of every 1% threshold crossed above 3% for all purchases or disposals and since we know Henderson owned 11.1%, this has not happened. One thing you can be sure of is that our BoD's, house broker and probably others will have been fully aware of this share disposal for a period of time as well as being aware of how much funding is forthcoming and exactly how it is going to be handled. Our BoD's are making themselves virtually uncontactable by PI's and are not at all forthcoming in keeping us up-to-date on what is happening within the business. The one email address they provide for investors to make contact with them will return nothing other than an automated response and it currently seems Shylock has not had a response regarding his correspondence to Ed, unless that has changed in the past 24 hours.
What we know.... Last Friday (12th) they reduced their holdings below 5%. 5% is 82m shares. Since then it is almost certain that they have continued to sell. I reckon that it will be about 2-3 weeks of selling from last Friday for them to be out of FastJet. The effect of dumping such a large number of shares is similar to the effect Darwin had when they were selling huge volumes. I suspect that between Christmas and New Year they run out of shares to sell and we can expect the share price to rise. This could happen even sooner if there are some big buys......
Henderson don't know
Henderson have been getting out ever since I've been in . Oil price, expansion, new bases more routes, freedom flights and the rest.
Henderson reducing who has been making the big buy maybe they know something we don't.
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