The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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ISA, pretty much nothing on advfn of any import. It's been better covered and discussed here.
PS I am not on ADVFN but can view.
Can anyone post what has happened on there as at present it just mentions Randy/Nic selling but no rationale??
Agree totally Electric
More importantly he has done his selling of nearly 1.5m shares (and at worse he has circa 200k left) and the share price has gone up!!
Rather than a negative maybe this is the start of a sustained rise!!
Well either way, in the end it doesn't look like it's worth the amount of words that have been written about it (myself included).
Perhaps JM's buys in the open market are worthy of more recognition, he's clearly greedy for CNR shares, any which way he can get them.
'Randy needs some cash so informs MC / Board of his intentions'.
More like Randy wanted to make a tidy £1/4million from taking up warrants and selling them as quickly as he could risk free. All speculation of course.
This purely my take on it.
Randy needs some cash so informs MC / Board of his intentions.
Jim steps in buys 400k worth (maybe more) to protect the current SP
Thanks Andrew
The more I think about it, the more I appreciate Mark's open communication and considered approach.
I know someone said earlier, an RNS needs to announced in a timely manner etc, however surely by sending it out after hours Friday it gives shareholders time to understand whats behind it (with a little guidance and clarification).
I mentioned before the potential knee jerk reactions if announced mid Trading day without clarification, however equally they could have waited till Monday morning without effecting the markets and it would have given investors little time to work out its no big deal . Lets be honest on first glance we all thought 'oh **** a major investor is selling up'.
Thank goodness that isn't the case and its only warrants being exercised.
Maybe I am looking for the best in Mark and CNR, however in my eyes he has really looked after the PI's with not only his considered approach but also the way he openly communicates with long term Investors such as Andrew.
Enjoy your weekend everyone, it has been a good week, the SP is up in the 40's again!!
Follow Jim's money!!! he he
Mark is very approachable and will generally respond to all reasonable queries. Like others I’ve often engaged in exchanges with him over the last decade or so.
Thank you everyone for the clarification
It needed clearing up and if as per Andrew, Mark has quoted all good and he is happy then brilliant.
I must admit it makes the timing of the RNS after hours even more relevant, as if it had been released mid trading day I am sure there would have been knee jerk reaction sells that the MM's could have taken advantage off.....
All we need now is for Jim to buy more shares!!!!!
If that's the case AF why not sell immediately at 60p?
Thanks Andrew for that info. I'm too tired right now to make sense of it all, but it sounds like there's a rational explanation that doesn't involve NMC selling, so that's good to know. Thanks again.
Thanks andrew
That explains why the percentage tie up which i posted earlier. The missing link is there is no rns stating nmc increased their holding through warrants.
OK, think I have got to the bottom of it. NMC and Randy subscribed to a total of 9842520 shares in the placing last year as detailed in the RNS dated 8th Jul. The holdings remain the same now therefore all that has happened is Randy has sold off the shares he got through the warrants last month, nothing more. NMC have not reduced their holdings.
It’s all a matter of perception.
Quoting Mark:
1.
“ NMC has not sold any shares.
Randy Martin exercised the 25p warrant for 1.64M shares. The company received £410,000. He was sold the shares he exercised”
2.
“ It is a bit confusing. The Placement in June 2019 had accelerator warrants, which had to be exercised if the shares traded above 40p for 10 days. Randy has other commitments and didn't have spare case, so he exercised and sold. Buy has retain 100% of the original US$2.5M investment at 20p. He is happy”
Also if he has only sold personal holding, only 174k to sell as of RNS
I stand corrected. Hands up. Either way not concerned though. He sold his personal holding looks like so could be tax reasons. Who knows.
Elise I agree uncertainty, this is where Mark will earn his salary (or at least I hope he does)
As CEO/Chairman he needs to install confidence in the market and shareholders (large and small)
Here's hoping
Don't think the timing of the RNS means anything. CNR will have put it out as soon as they reasonably could after being notfied. There are stock market rules about having to release market sensitive information promptly to reduce potential for insider trading.
Maybe I am wrong however the RNS on Wed 8th has
Tot of £11.482m (NMC 9.84M and Randy 1.64m)
This RNS states a disposal with subsequent holding
9.84m and Randy 174k
Randy has sold surely????
Forget the percentages, yes they can be confusing if the total issued shares changes. However, the 8th June RNS states that NMC has 11,482,940 shares. Todays's RNS takes that total down to 10,017,208. So 1,465,732 have been sold.
What you noobs talking about. He hasn't sold, he just just didnt take part in the recent raise!
Before raise 95,163,522 shares in issue. Nic milling company holding 10,017,208 = 10.5%
After raise 117,050,000 shares. Nic milling holding at same amount = 8.6%
Which mean he sold zero shares and did not take part in recent raise. You guys just flapping for no reason.
Elise I would 100% agree with you, had Jim not bought 400k
Lets not forget well over 1 million shares traded today and the share price still went up!!
Mark has made it clear from day 1 he views Jim as a long term personal friend as well as a stakeholder so surely Jim would be closer to CNR next steps than anyone (and that gives me confidence)
In a previous interview Mark did say he much preferred the Toll Milling option rather than holding out for 100% profits and maybe at this point both parties see a different direction for CNR.
Equally as stated Randy saw value in the shares at the pricing place, and don't think he would sell at a loss......
Just a thought however maybe was unhappy with the home of the unknown shares in the placement??
Andrew, what do you mean he hasn't sold???
The collective holding reduced from 9.8% to 8.6% (even if the .2% in his name remained)
It is also odd the company announced a holdings RNS 2 days ago as if to state ok 'this is the position now' and they knew there would be activity.
Great news for me that Jim bought 400k on same day as these were sold and the share price still went up.
I agree none of us know the total picture or what happens next but thank God Jim took up the slack or the negativity could of toppled the share price or more importantly confidence.
Must admit after coming of the golf course to the RNS my first reaction was WOW....................
If anyone can help fill bits in this jigsaw please let us know................