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Ha ha spary its probably Ltd bacon
Single Digit Trades
So far in February we have had five single digits share trades (1,1,1,1 & 7)
The total value of these five trades = £0.0224.
If there had been a trade of say 10 shares at say 0.2 then that would be a monetary value of £0.02p which could legally be settled by a monetary transfer but how do you settle a trade for £0.0021 £0.0025 £0.0021 £0.002 and £0.014?
Looking at the Rules Manuel of London Stock Exchange which covers AIM Companies: Page 24: General Conduct: Misleading acts, conducts and prohibited practices (1400)
G 1400 A member firm shall not, in respect of its on Exchange business:
1400.1 do any act or engage in any course of conduct which creates or is likely to create a false or misleading impression as to the market in, or the price or value of, any security;
1400.2 cause a fictitious trade or a false price to be input into the trading system;
1400.3 effect a trade at any price which differs to an unreasonable extent from any firm price displayed on the trading system in that security;
1400.4 do, or attempt, any act or engage in any course of conduct, which constitutes or is likely to constitute market abuse under Regulation 596/2014 of the European Parliament and of the Council on market abuse (MAR);
1400.5 do any act or engage in any course of conduct which is likely to damage the fairness or integrity of the Exchange’s markets; or 1400.6 do any act or engage in any course of conduct which causes, or contributes to, a breach of the Exchange’s rules by another member firm.
Now it so happens that I had the shareholder register of a particular company last year which had over 5 billion shares in issue. Well they actually had 5,332,221,134 shares in issue and the share register on that particular day came to exactly 5,332,221,134 which if you understand share registers is impossible.
So the question that I now ask, when will the single digit trades cease? What action will I have to undertake to understand why single digit trades are permissible?
RKB
https://www.londonstockexchange.com/traders-and-brokers/rules-regulations/order-book-trading/order-book-trading.htm