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Legalwolf, Could it be Energean? In business you learn that anything is possible so we wait for the RNS that might shed some light.
In the meantime whatever happened conveniently coincided with the completion of the deal with Energean, a completely transformational deal for Chariot moving forwards. Its a tie up also with an acclaimed and growing FTSE 250 operator with proven track record on bringing gas projects onstream. That's a structured deal that instantly puts $10M into the Chariot coffers and with so much more to come for back costs and at various other milestones.
Just look at the terms and what's in there for Chariot in the RNS from December.
https://www.lse.co.uk/rns/CHAR/partnership-agreements-signed-with-energean-plc-enkku71n7f3k4fi.html
9p !!
Dyor.
I don’t think so LegalWolf. Apart from the fact the Farm In will most probably forbid them from taking a position (as I think the CHAR Bod have already alluded to), that’s contrary to current hear say. All IMO.
Guess we will find out soon enough…..surely they would have to announce their holding within days..would make logical sense
Legalwolf - That is what I have been thinking of. Could it be an early TO?!
Could Energean be the buyer?
Our seller came in guns blazing with an agenda and when they didn’t get their way sold out.. I’m glad they’re out now and we can move on..
"Shares have gone from distressed seller to one or more extremely happy buyer.." agree.
Now, how about Westward Investments taking the lot, that would put the cat among the pigeons for sure.
aimo & dyor
I wonder if they have entirely wiped out the 2 distressed sellers.. assuming there were 2..
DYOR
Onsolidground, imo the money from far in cannot be used to “buy back” shares without consulting shareholders, so that’s not an option at this stage.
Shares have gone from distressed seller to one or more extremely happy buyers imo.
Bed and ISA time of year, to complete process can (ridiculously, best do it yourself) take weeks.
Nice one. I'll be in the market for a top up tomorrow morning first thing.
Should be interesting to see where the share price goes without any brakes or reverse gear now being applied.
Might even be Chariot themselves utilising the $10M proceeds on the Energean deal just completing to buy back and cancel the shares.
Onwards and upwards.
It is a VERY expensive "dolls out the pram" dumping if that was the case, highly likely their holding was average more near double todays price, unless you were able to set up a huge short to run prior to dumping and controlling the fall.
Jagua - I think you are right, it’s most likely about the seller not liking the partner. The fact that they have fully cleared on the day of the formal transaction is not a coincidence in my opinion
IMHO
I believe it was a brokered deal, done today, but negotiated for a while
Char was 14p and rising on the deal RNs, until the selling started so it will be very interesting to see where market takes this now the brakes are off
I doubt these shares appeared all of a sudden conveniently so a big buyer could take the lot.
My take is they have been bought over the last few months and not recorded so the sp would not jump up. They are now recorded while the sp is low (thanks to the selling, without the buying being shown) in order to enable them to be picked up cheap. Average price paid over few months being 8.25p.
Now the huge buying can be seen, the sp should jump tomorrow.... maybe by 50% even .....
That sounds illegal I know but we shall see.
Nothing dodgy at all imo.
We have had a distressed seller and someone has negotiated a buying of all of their holding in 1 go.
I don’t see why that’s such a stretch. Also nothing to do with tax year.
TR1s in the coming days will tell who has sold and who have bought imo.
Not really dodgy....if the seller had sold constantly the price would have dropped down as it had to the 7s, so a deal is brokered that lets the shares go in bulk, seller and buyers both get a good deal and we can move on without a massive overhang... The seller imo didn't like the partner, selling started with the announcement in December and ( hopefully) finished today with the official sign off..
I think A.A. sold out a while ago. Covalis was still holding some early this year. My money is on the 2 of them being connected somehow and they've been planning this for a while. The 72million apparently bought today for less than market value so some dodgy stuff going on.
40 million shares is essentially 4% of the company and hence a notifiable transaction. The only 2 shareholder with disclosed over 3% holdings (apart from 5 major retail platforms that have a total of 33%) are
Westward Investments
(Adonis Pouroulis – CEO) 8.2%
Mr Askar Alshinbayev 5.6%
It seems highly unlikely that our CEO will have sold shares so logic would say it’s Askar Alshinbayev.
Tomorrow should be another interesting day when hopefully the rise we expected on this mornings news will get underway.
The boogie man of one distressed seller did seem hard to believe when the sells kept coming but hey ho sometimes the hard to believe is true, hopefully onwards and upwards
Ian I was halfway up my loft ladder then had to come back down again. Inconvenient but I feel it will at last be worth it. 🤞
There are big boy trades and there are big boy trades! 👊
GP14 - You may not need to put your holding in the loft just yet ! Lol
Looks like 72,000,000 shares in total bought after hours. I make that about 7% of the whole Company.
Sold by the same owner before 05-04-2024 no doubt to get into last tax year to buy back in new year.
Probably with the help of the MMs
To the moon tomorrow.........
Well tomorrow will be interesting.
If we start a sustained rise from tomorrow then I for will apologise for doubting such a formidable stock!
Good luck everyone.