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this is one risky stock however i will take a punt at 0.01 if it drops
Corporate activity was pending for a while.....the below from Half Year Report on 26 June 2019. The biggest shareholder was going to join as Director 2 years prior to the below.....the below appeared and then Chairman and CEO Tony Sanders rather resigned - it was sighted personal reasons. I would say imo he jumped ship rather than get ousted by the biggest shareholder - Vacant Chairman and CEO hot seat for the buyer of the Miton stake? Biggest Shareholder/New Strategic Investor?
"The board is also looking to further strengthen its capabilities and
expects to announce changes in due course".
Also, to reiterate if the buyer picked up the Miton stock in one trade of 304m shares it would have given it away there was a buyer, everyone would have piled in more and made the share price rise more and then if the buyer wanted to buy us out having to pay more of a premium - if I was the buyer I would have bought in tranches and imo the market makers wouldn't have allowed to buy 304m shares in 1 trade. Secondly, when Miton dumped their first tranch of 60m - only half an hour or so later someone bought 42m shares at 0.035p (highest single purchase trade all year) - imo deliberately again not matched the 60m trade so not to give it away. Even the 42m shares buy just cannot be a private investor having a punt of £15,000 after a 60m shares sell (had been the highest sell of the year at the time) has just gone through in that afternoon.
If you're still not satisfied....look at it this way, we've not had the news on the above yet and the buyer but neither have we had the news on the below.....does it make sense now?
11 September 2019
"The Company continues to carefully manage its working capital position and will need to raise further capital in the near future. Further announcements will be made in due course".
- Our current mkt cap of circa just 900K is less than even cash shells who are getting away with £2 or even £3m mkt cap on AIM. Yet the suite of products for Blockchain imo can easily attract a sum of circa £2 million or even £3 million (0.10 pence on the share price).
Same close again with just 1 MM again at this 0.03 pence offer and others at 0.035 pence and higher.
We saw again today on a few hundred quid of buys the price shot up 17% intraday. MMs remain twitchy - imo because they know someone took Miton's full stake (304m + 60m) and news would be due indicating TR1 + Corporate activity.
I say it again and no one has answered it....this share barely had any volume all year so on Wednesday 11 September 2019 there were 1.16 billion shares traded. Miton was responsible for 304m shares of the 1/3 of the total shares in issue volume traded.
If there was no one who picked up Miton's 304m shares on this day - it would mean private investors bought and sold 800m shares - No chance imo and there was a buyer.
I am yet see more than a couple of sentences on why the whingers bought here in the first place.....
Still waiting? I've given chapter and verse for 2 weeks.
Stop being panicky etc - gosh never seen anything like it....move on if you can't take the rough with the smooth.
Do Research, Buy, Carry on doing Research, Patience - Enjoy the Rewards!
Rsp is what you need
And as I said last night any buyer can buy blocks on the bid price too - but ignorant folk can classify them as sells because of not wanting to broaden their investing minds. Pay for Level 2.
Subscribe to Level 2 - worth it.
No then the spread would be tiny and you could buy millions online - rather the opposite of what you have said and as per what I have kept saying - buyer.
Does it occurs to anyone else if there is another seller in the background?
Every single time the sell prices rises this chunks of sells pops up. It surely can't be Pi's!
Maybe we break that 0.04 pence today at the 3rd time of asking....hard to buy in size again.
MMs twitchy again too imo. That news is coming imo as per in depth research.
Looks like it's the same again take it up to 0.035 and drop it back down 0.027
Maybe news will only take it through 0.040 ?
Hoping it does without news
we go again....35p SP....Fingers crossed we hold it today...GL OF
1 very tiny buy and back to 0.035 pence offer.
Sit tight imo.
Mitch as for the Tr1 theory plenty have delayed giving notice and no rule has ever been enforced by the fca that i know of be happy to be corrected on that.
Quite a few investors do have diaiogue with manangement before they invest. Just wondered if any lengths had spoken to them and I am sure they can look at the register to see who bought the shares if it wasn't pis as you say.
That's what I meant - why should someone be calling the company? They not going to tell you any price sensitive information.
Suhail I never once said to call the company and harrass them that is very assuming of you I just wondered if anyone has had previous contact with the company management. Maybe I should of written it better.
Suhail not panicking at all they did a bookbuild in itx to take woodfords shares on the low it was not rnsd there and it took a while to get through the churn has anyone contacted the company at all?
Thanks Adam. I still think the biggest shareholder/strategic investor bought Miton's stake and continued buying at these all time lows.
Closest i can find with little time to play, french and UK markets are run very similarly so there probably wont be much difference as im quite sure i’ve read similar in the past trading on the London stock exchange.
In addition to the legal obligation to inform the Company and the French Financial Markets Authority within four business days when thresholds representing 5%, 10%, 15%, 20%, 25%, 30%, 331/3%, 50%, 662/3%, 90% or 95% of the share capital or voting rights(1) are crossed, any individual or entity who directly or indirectly acquires a percentage of the share capital, voting rights or rights giving future access to the share capital of the Company which is equal to or greater than 1%, or a multiple of this percentage, is required to notify the Company within 15 days by registered mail with return receipt requested, and declare the number of securities held.
In case the shares above these thresholds are not declared, any shares held in excess of the threshold and undeclared may be deprived of voting rights at future Shareholders' Meetings if, at that meeting, the failure to make a declaration is acknowledged and if one or more shareholders holding collectively at least 3% of the Company’s share capital or voting rights so request at that meeting.
All individuals and entities are also required to notify the Company in due form and within the time limits stated above when their direct or indirect holdings fall below each of the aforementioned thresholds.
Yes I have been keeping tabs on Miton's general situation on AIM.
In the example you have provided, Miton dumped 304m on the same day and in one go rather than over separate days - I'm all too familiar with such concept. But going back to your earlier example....
So if a new strategic investor took Miton's just over 12% stake (304m + 60m) at 4pm on Wednesday last week and he/she wanted more, they could keep buying as say more buying lunchtime (some good buys) Friday last week and so forth - sticking to the additional 2 days cycle allowed. If this all could be true about a new investor too then imo it does correlate with the price swings in this range every day whilst then going NT for online buying at various moments or very big spreads etc. For example, if I wanted another 100m shares tomorrow as the new investor - less than 3% the MMs won't have them available and I would have to buy in parcels all day or pay a massive premium.
I know on Monday this week the bid touched 0.04 pence and a big jump and impossible to buy in size - then later at lunchtime 16.7m + 10.8m buys came through within seconds. There was a 17.5m trade on the bid price at 0.03 pence which kicked it off and the short squeeze to 0.04 pence - I have seen big share purchases on the bid price in other stocks.
Good example take Miton, they had around 9.5% however their notification arrived at 0% and not 8/7/6 etc.
Dont know if your aware but Miton have been selling on multiple aim shares across their portfolio, a change of direction for the company maybe? Similar to Ruffer who openly said they’re leaving aim and focusing on more stable markets.
Thanks a lot Adamk87.
Your example is great too - can correlate with the daily swings here nearly every day since Miton dumped their second tranch last week on Wednesday.