Of course the other thing to say is that with there being no trading tomorrow or Monday because of Easter weekend, it really doesn't leave very much time at all - only two-and-a-half trading days from this moment, to be precise - for volume to be high enough to shift the remaining warrants before then IMO. I would guess we'd probably need a couple of 40m volume days to clear them now before next Thursday, but that's only a guess and I could be wrong. All of that considered I think it likely some portion of the warrants will be extended for 3 more months, but would be delighted to be way off the mark!
Correct me if im wrong but the actual exercising of warrants wont actually show in the trading volume will it as there is no market trading taking place? If this is the case the volume will only increase significantly if the warrant holders are then selling into the market. Does this not mean that as long as the warrants are exercised before the 24th any trading/selling of them can go on into May, etc?
Morning all, i agree with you Lionheart that IMO it is by no means a certainty that the remaining warrants won't be extended on April 24.
Can anyone here supply a compelling argument as to why THIS TIME is so different, and they won't be extended for a sixth time on or before April 24?
Yes, according to the last RNS we should "definitely" get a Zema decision by end of May, but the April 24 warrants deadline is only one week away, and volume in the last 2 weeks, while much better than for months previously, still doesn't seem to me to have been enough to shift the remaining 88m warrants that are outstanding - not as yet anyway. For one thing, a big chunk of the volume last week was plainly 'bed & isas' taking place, and not warrants being put through.
While I am encouraged by Tuesday's RNS as we all are, can anyone compellingly argue that the warrants won't be extended another 3 months to July 24 on or before next Thursday, and therefore potentially remain a big drag on the SP until late July? I would value any cogently reasoned responses if anyone feels like giving them.
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