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Hi Dibs - you advise us that you have read the agreement between JB and his broker - I am struggling to understand how as as far as I am aware that is a private document that has not been released. Happy to give you the benefit of the doubt but would you care to give us the details.
It should come as no surprise to anyone that JB continues to sell, he confirmed that he would yesterday but he also suggested this could change from the point Roger and Stephan physically leave the board so a) still selling but to who and b) if he is happy to invest again once GC takes over then he must have a way of avoiding the irrevocable agreement.
Has he done 1% for today?
Manager
that's basically what JB had in his twitter yesterday he cannot stop the sales process
he also stated the CEO was the best decision HE made when he originally appointed
him and would consider re investment by his group in the future with him back in
charge and the remaining legacy directors departed
hopefully the day he starts he will have something to say then GULP!
So JB will be down to around 30% , when he is back in charge, guess we are in the lap of
the market gods until then
Dibs61, why does he need to re-invest he already owns the shares, so your saying he's going to sell all his shares, then start buying back at higher... really
Hopingforbags the new CEO doesn't take up his position until 1st August! Thats another three weeks or 21 days of selling 4.75m shares a day so I don't see how he's going to be able to affect anything until then!!
why is everyone so shocked? its no different today than any other day, he sells 1% everyday it can't be stopped and you were all jumping with joy with that knowledge all along, why all the deramping and horror today, you know it was going to get harder to keep in front of the sells... surprise!!!! thats life...
This is following the same pattern everyday
Nickel it's a fascinating one this situation. I find it hard to believe that JB will continue much longer with this agreement. He would be cutting his nose to spite his face. And lets face it if he were to continue dumping 4.75m shares onto the market every day for the next 45 days there is no way the market could support it. The SP would drop to almost nothing!
So, what does he do? Well I have read the agreement and there is a condition that would allow him to cancel if certain circumstances change. So there are lots of background games going on here. The one thing I am fairly sure of though is that something has got to give, whether that is another bid or he can justify cancelling the agreement due to the circumstances changing, new CEO? New management. Thats a pretty big change of circumstances. PLUS he has tweeted he is strongly considering 're-investing'.
JB out is good for Amigo or unless he places his offer to takeover Amigo. Also board has to be changed.
To be honest Nickel ive never seen a situation likes this thats so openly public.
If the 1% is off market and the price is set daily then the price JB gets is dependent to sentiment that day. If General markets take a crash then hes going to be getting very low prices.
Yep all cool Ni.
Just waiting for the next run up to 14/15p .....
He has been upfront and stated how it will be done, so as long as the company and reinstated ceo
can get some good news flow, should not hopefully kill potential resulting rises
Unlike the bucket shop lenders who dump as many as they can at every opportunity and kill all
momentum.
as long as daily volume is enough to soak up that daily sell, an orderly market should be maintained
fingers crossed but as said the timing of news flow by the ceo will be key to us staying range bound
or moving forward GLA
The question is how do you think JB selling every day 5m shares is going to affect sentiment....
Are people going to buying in mass now knowing that the odds of being down tomorrow are more probable. It's a crazy situation, can't remember the last one like this in the market.
Thanks Mark, hope you're good.
What is the logic for James to sell everyday 1%?
he tried to crash the market shares prices down to 5p then buy back.
We the logic is already several days he did sell unfortunately the sp not go down further
He will not only crash the market but keep more confidence for investors to buy more
Ni. It was recorded 16:17
Together besides me the challenging investors average held more than this morning profit taking/panic selling investors
the sp not further down as many investors wish (below 10p)
Did anyone notice what time yesterday's 5m went through....
make that 45 nearer 60 including the weekends before it will end on current
schedule
Smidge - Until he has sold out this is just a traders playground
He will continue selling as mentioned yesterday, not matter with new CEO.
The share price will stay lower, and possible we will see under 10 due to this sell.
I mentioned yesterday, that in Friday the sell has happened in the morning and then the price gone up, but when the sell is happening at the end of the day we will suffer.
Think: why will you buy now when you know there are 4.7mil awaiting to be put on action and you need to sell them?
why the surprise did he not state on twitter yesterday, the instructions in place, he cannot stop
the sales ?
1% every day reduction from 46.66% today 45.66% we have 44 trading days of drip drip dumps! Looks like JB will be selling until the 19th October FCA deadline!?
45 days before I buy in