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My understanding is the threshold is 3% for a single fund and 5% for and investment manager managing a group of different funds. This is why disclosure for Marshfield is at 4.7 and Fidelity is 5.24%. Therefore logically none of the chryasoar investors could be at the 3% threshold and so could sell if they wanted.
EIG was disclosed in the April 9 TR1 announcement at 37%. I expect this will be placed to investors on a book build after the lock expires. The presence of this big block is enough to stop the shares doing much for the time being but once it’s gone, I’m hoping to see some sustained gains
Thanks Miles, would have thought with the recent must be somewhere near 70 million pounds plus gone through sold/bought post Fidelity rns would have triggered something..
Thanks Leermac re seal ;-)
@Jefff well, the ALL creditors who were able to sell before end of September (not locked up) together had 18% of shares, but each of them was not part of the lock-up as their individual % of shares was too low. So they also could sell without giving public notice. And as for those former Chrysaor investors having been subject to the lockup until September, there have not been any announcements, so ... if there was some selling, it wasn´t a sufficient amount to trigger an RNS. Imo most former Chrysaor investors still have kept their stake. These are investors and not forced sellers and I don´t think it would be very wise to sell right now if you already were a long-term PI holder before ...
Thanks Miles and Bp Still a case of Stevie wonder it is then ;-)
Miles on the overhang or Obsolete on the overhang side of things would they not like other investors reducing or increasing positions have to inform the markets or is that a different set up for them.
Or is it just not the case of the algos moving money around the mrkts.Sectors and cycals so to speak
Thanks ATB ;-)
It's most likely Tolmount East as got final investment approval in July 21
@Jefff - nice to read from you as well :) I do not suppose that the information given to the market is wrong, as this would constitute a false market information. Management is far too clever to do this and there is also no "need" to transfix the market with wrong informations as the company does well. The pipe laying might well be for Tolmount East, as it is supposed to come online in 2023. But I don´t know and I haven´t asked them. Investing is also about trust and I personally think that Harbour has an experienced and trustworthy management. Otherwise I would be somewhere else :)
Miles my good man hope your well, your all things Harbour whats with the pipe laying.Is that for the delayed pipeline or somwhere else.Thought it was just electrical issues with tolmount.
Considering it was up and ready to turn on in July,it seems that there doing a complete refit/rebuild
Only asking as you seem to have some success with getting a response the investor relations folks.
ATB ;-)
Yes, @Obsolete - once again a good post. Great to have you on this forum
Thanks Pleebens your a gent so you are ;-)
Good posts Obsolete.
So would the picture of the seal and pipes being laid be for another part of tolmont.
My understanding is Hbr trades on SETS so there is no market maker input into price formation - it’s all done through auto order book matching. The days of market makers setting prices are long gone.
As for the apparent silence from the board - what they say and when they say it is regulated by the DTRs. HBR have 3 corporate brokers to help navigate this area so ought to have good advice on hand. Fairly sure the dtrs specify somewhere that any attempts to change the direction of travel of the shareprice by using the RNS will result in slaps from the Fca.
If you analyse the trading currently in the shares, you will note that many of the trades are designated AT [automatic trades]. That means no human is involved, the computers are selling / buying to a pre-arranged level. In other words, I suspect the same marketmakers / institutions who short sold PMO before are at it again with HBR. Presumably they base such behaviour as being reasonable on the assumption the Board will never issue any positive / good news and will only rarely update the market - i.e. the Board are not actively trying to change the direction of travel of the shares. So far, from what I can see, this strategy is working as a 345p - 400p trading range has emerged, and is being frequently exploited.
For us shareholders, this is frustrating and one can only hope after March that it ends when the overhang is cleared and a new price level set by the shares.