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I wonder who the seller was?
Only 4 holders had above 22m shares as far as I knew :
SeaFox 72.9m
Aberforth 69.8m
Mazrui 44.3m
Castro 34.3m
Also possibly Horizon Energy who had 21.1m a while back and may have added more, but I didn’t see an opening position declaration (form 8.3) from them during the recent offer period so I m not sure if they actually still hold or not.
Aberforth, Mazrui and Castro all wrote letters of support for the board recently.
Should be an interesting day tomorrow!
So let me get this straight...
Someone has bought 5 million pounds worth of shares at 22p
Presumably the only price they could get from the MMs given the scale?
So then, why would you want to buy that much so quickly? Imminent takeover bid? That's the only thing I can think of?
Otherwise why not stagger 1 million over 5 days?
It can’t be seafox because of their stupid 10p no increase statement, they will have another 2 months to run on that one, unless I’m missing something but I did check with the takeover panel to confirm.....there are a few other significant holders already, RNS tomorrow will clear it all up!
Would you sell at 22p? Now that is a harder question to answer than 10p.....
Had this stock in the bottom drawer!
Anyone any idea what's going on here? Seafox buying?
WOW 22 million at 22p at 4:10pm
Surely another counterparty with a bid announcement coming, that's a massive premium to pay otherwise.
GMS Share Trades button...02-Jun-20 16:13:32 22.00 22,167,000
where can you see this trade?
Did you mean at 12p?
22m shares at 22p....cant wait for the RNS on that one.
Certainly over at 10p and not sure Seafox have the ability to offer at least 20p which some major SHs have already said is what they would expect....
Seafox continue to buy at 10p (RNS with 28th May dealing)......this is far from over and people still sell sub this level !
They have embarassed themselves here, and possibly wasted a lot of money... I guess a lot of people were counting on a sale so they've abandoned ship (no pun intended). I personally am excited to see what happens next, given the great fleet utilisation for the year.
On the 26th Seafox purchased 315k of shares at 10p, if they decided they were no longer interested in pursuing this takeover why do this!!! Why oh why sell in the 8s?!! Doh
Seafox are still buy stock at 10p and below, so this isn’t over, they just need to reset the clock in order to increase the bid later down the line. Their 10p an no increase bluff has backfired due to the level of shareholder support for the BOD.
Seafox will be back in again in 6 months' time - will see how the land lies then.
This new BOD has certainly got a far better grip than their predecessors so Seafox may well have to offer considerably more when they return.
Thanks Alba. That’s good news. I have solid faith in the turnaround. I’ve been here long term and got a wee bit burned. Not too badly thankfully but I’m holding tight and anticipating a recovery.
Ferguson’s, go to the GMS Website, Investor relations > Regulatory news.
Si547. How do you know that Maz are in support of the bod. I can’t see that anywhere although I hope it’s true
Mazrui have joined the SH’s supporting GMS. Currently, those supporting the Board, and rejecting Seafox, hold shares accounting for just over 52% of the companies issued shares...........
Looks like Seafox are still increasing their position; I'd hope the other major shareholders who offered their 'support' will increase their holdings as well to prevent Seafox taking over.
Maybe nothing; could just be taking the opportunity to reduce their average Share Price so that they maximize their profit should they late decide to sell. Time will tell I guess!
Seafox keeps buying at the open market, what are they planning to do next?