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Check out MNG RNS
All the boxes below are empty compared to 22nd June RNS below
Price went up because of the knowledge that they were getting out I think @Pingu777.... and stayed elevated despite them selling into the demand steadily .... is how I read it.
Looking back at just the last 80 minutes of trading - there are too many round number sells to me, 5mill exactly, 1 mill exactly, totalling 20 mill just in this time frame. Retail sellers don't (usually) buy/sell by share volume, but by price. Personally I think they're selling through.
Hi I’ve just bought in this afternoon.
If you have a big holding and are in the midst of selling them all then my understanding was you don’t need to. Outfit until you’ve finished your block sell. So this would indicate M&G have finished up?
Also, isn’t the point that the market was saturated with this large number of shares and yet they weren’t just absorbed but the price went up throughout the process of the sale? So without that amount of shares being sold then where do buyers get their shares from? Market mechanics would say the price would go up as a result?
And what if this RNS triggers increased buying and overall volume?
Seems like tomorrow night be an interesting day to me.
Debateable get_rich_quick...but we will never know the full reason for timing of some RNS's...just looks suspicious to me...either way makes no overall difference...alot of shares have changed hands , hard to believe it is just small investors buying....that's another story i guess...all will be revealed soon... all in all i think FJet will survive and the sp will start moving back upwards... once we gets some confirmation to this end then the sp will really start to motor upwards. It is way undervalued at the moment and does not represent what the business is worth as a going concern imo
What ‘normally’ happens is after 5% you get 2 more RNSs.
1) When they go under 3%
2) When they sold out.
This is what I’m expecting now. As people have said they are probably near or under 3% so next TR-1 should confirm this..gla
Yep they have nothing going left. There would be no point at all in them selling down 95% of what they owned but not the rest.
They are already below 3% - fact. The most they could possibly have is the difference between what they had before (383mil) and what they sold (313mil). So the maximum I mathematically possible is 70million (less than 2%). But they would not hold 2% so they have zero.
"11. Additional information (xvi)
We no longer hold a notifiable interest."
I must admit; I'm not sure why that is there or if it means how it reads 'they have nothing'.
I suppose I'm stuck at the below the 5% threshold term.
The only way to know for sure is to add up all that they've sold, refer back to when they last disclosed an increase on holding, and weigh off if they have sold the lot.
For me, that requires more effort than I'm interested in as I'm still holding and don't care that they are out. Actually, the fact that they are and the Sp is where it is, its only reaffirmed some things for me.
The NOMAD chose to release it after hours.
Personally - I don't see their benefit as the share price has held. Releasing it earlier wouldn't have made much different - in my humble blah, blah, blah...
I expect a corporate presentation to be released in the next 5-6 weeks, detailing the companies new position going forward.
Either that or the for sale sign will be going up....
Seems the RNS has created a bit of confusion. On one hand they say they are below 5%, but the text further down does show.....
11. Additional information (xvi)
We no longer hold a notifiable interest.
No notifiabe interest means below 3%....i think they are out completely for what it is worth....no reason to keep any holding imo and they could have easily sold all with the recent volume...their reasoning for selling is as get_rich_quick suggested imo
An Rns will be issued confirming they have zero holding.
I would hope, through your investing knowledge you've come across this before, therefore you should know, that an Rns will be revealed declaring this.
Only below 3% is, as I've referred, the blind period.
As a P.I, I could hold less than 3% of the shares in issue, but I'd never have to legally disclose when that is done.
If M&G had less than 3% they would have said.
A written Rns, text, love letter, or Star Sign report in the Sun, can be read a multitude of ways but the fact remains, they have to disclose if they are less than 3%. That is the threshold.
Fear not - it will come, and may be that one will evidence that have zero holdings.
And the moment, we know they are less than 5%. But 5% isn't 3%.
I'm not trying to be pernickety but I'm being factual. It's how it is.
And 'how it is' hasn't concerned me.
I've always believed, and chirped on about it, that M&G will sell the lot, and if it had concerned me that much, I'd have sold a long time ago.
Why people finding this so difficult to understand?
“We no longer hold a notifiable interest “
They sold over 300 million shares. Deduct that from what they had before. They have bugger all remaining.
Move on and stop with the smoke and mirrors those trying to get in cheap tomorrow morning.
M&G still hold some shares as they've only crossed the 5% threshold.
3% is the diclosable amount, and any 1% thereafter so, we know they are below 5, and when they drop below 3% that is the 'blind' period but, I've rattled on about this from the start.
They are selling every single share in this company, and from reading about their own plight, I understand why.
The good news for Fastjet is;
A major holding in this company has sold millions amount of shares, and since they started, from the early 0.14's, the share price has held and, we've slightly moved forward - all this is very promising.
When insti investors sell their entire pot, it normally smells trouble for the company but, an isnti can sell for a multitude of reasons.
I firmly believe theirs is due to strengthening their portfolio for their clients, as they seem to be investing in more solid stocks, and AIM is a murky world where I've always struggled to understand why corporate accounts would dip their desperate toe in this pond.
Anyway - it's done now, and it seems the damage of their selling has been minimal.
The only fly in the ointment is; as no new investor has bought their volume of shares (from what it seems) it means this Sp will continue to be volatile as the free float of shares in issue is mainly at private investor hands.
Generally - having lots of private investor shares to buy means the Sp normally stagnates but this company is a massive risk, and if it survives and lives to fight another pandemic, then the Sp will be at a much higher level than where we sit today - and that is a large fundamental reason why I first to invest here 3 months ago.
ATB folks. And remember - Sun screen....
I'm sure they could have issued the RNS before close of play buy they decided to issue it just after closing...seems very deliberate timing imo as they did not want a spike at near closing...usual manipulation from those in charge it seems...expecting a big move up in the morning
The buy eaten all the sell. Was correct
Great it came out after 4.30 to set up a big rise tomorrow
Yes they're out.
They no longer hold a 'notifiable interest' it says. In reality that means simply they don't have to notify their remaining holding - I think the threshold for that is 3%. So we can't be totally sure they no longer hold any shares at all, though personally I think it is probable they are completely out
Agreed they are out. They sold over 300 million shares on Tuesday there’s nothing left.
That what it means
'No notifiable interest' means less than 3 % as i understand it. It could also mean M&G are completely out with zero holdings now which is what i think...opinons anyone?
10. In case of proxy voting, please identify:
Name of the proxy holder N/A
The number and % of voting rights N/A
The date until which the voting rights N/A
will be held
11. Additional information (xvi)
We no longer hold a notifiable interest.
Place of completion London, United Kingdom
Date of completion 25 June 2020
They already sold out. The RNS states:
“We no longer hold a notifiable interest”.
Should be out early next week..they’ll sell down now.
Great news, let the rerate begin
Novicehunter... Lol:-) poor JT