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Well done oil
Some good info there
No I was implying there isn’t any bad news. If he sold b4 bad news then it would be considered inside dealing. Only good news. When I looked at the new website and saw T getting such prominent positioning it confirmed to me all positives
Its all...I think you'll find through stock exchange etc. Tr1 only required if you go above or below threshold.....so no need to declare if you are within a threshold. Ie....if you have 15.8 % ...you can sell .799% (320,000) and NOT declare as you have not fallen below the 15% threshold. Conversely you dont need to declare from 15% up to 19.9999% as you have not surpassed the 20%. They may however want to declare should they wish .
Clarity on TR1..............
Hello xxx,
We are very pleased to notice that investors take the time and effort to review our policies and rules. We continue to work to make them as transparent and clear as possible.
As to your question regarding the amendment in the articles of association I refer to the point 13. In the AGM invitation dated 10 May 2018, which says:
13. Resolution on the amendment of the Articles of Association
The Board of Directors proposes that the following sentence will be removed from Article 17.1 of the Company's Articles of Association:
"Each shareholder shall also make a Notification when he becomes a party to an agreement or other arrangement that upon implementation would result in the holdings of the shareholder reaching, exceeding or decreasing below any of above-mentioned thresholds."
The Board of Directors proposes that sections i) - k) will be removed from Article 17.5 of the Company's Articles of Association.
The rationale for the amendment is the change in the corresponding legislation in Finland governing notification of major shareholdings.
So this amendment was done because of a change in legislation in Finland governing notification of major shareholdings, which was – to our understanding – related to the ”transparency directive” 2004/109/EU, which was changed back in 2013 with the intention to improve the efficiency of the transparency system, particularly with regard to the publication of information on corporate ownership. Corresponding changes were implemented in the flagging rules of Finnish Securities Markets Act.
These flagging rules do not as such apply to Faron (as the company is not listed on a regulated market), and therefore - based on the recommendation of AIM Rule 17 – Faron has included the flagging rules into its articles of association. The amendment in the articles of association in the 2018 AGM was done to get the articles of association in line with the present legislation.
This does not change the rules that govern the major shareholders responsibility to issue a TR1 if they reduced their holdings. In that respect the situation remains unchanged.
Thank you very much of your interest,
Yrjö
What bad news are you refering to?
Flogging :)
He wont have to declare a tr1 if hes clogging and buying a) small amounts of stock...or he buys back quickly stock he has sold.
IMO
He can’t be selling off due to bad news on the way as it would be inside dealing, they are letting someone buy in.
Who has never been interested in day trading his shares.
Also farn BOD seem to respect him as a long term investor in their company as he is always invited to take part in private placing.... this would not be the case if he was day trading this share
Except he has never sold any stock in faron... only bought more.
So gammy you are correct that there is nothing to stop him selling and averaging down, but he would have already had to of sold at 2.70ish... and since he hasn't declared a TR1 that is just pure unfounded speculation
In any case timo looks like a long term holder to me
Anyone who bought...only has to hold the placing shares NOT any shares they already had.....take Timo for example...nothing to stop him selling his own stock purchased already...to average down etc.
This is it.
Not the new investors but rather faron themselves who can't sell or issue any new shares for 6 months after 12th November 2019
"In connection with the Placing, Faron has entered into a lock-up undertaking, under which it has, subject to certain exceptions, agreed not to issue or sell any shares in Faron for a period of 180 days after the closing of the Placing.
Subject to all conditions being met, the Placing Shares are expected to be entered in the Finnish Trade Register approximately on 12 November 2019"
Been thinking about what Finnish institutional investors took part in the placing last.
If I recall correctly they had to hold their shares for a full 6 months before they can sell them?
Also its a shame we never were told who they were.... Does anyone know how we can find out?