Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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DRS1 Take at look at the RNS out last night at 5:30
"Subject to court sanctioning the scheme of arrangement in relation to the cash offer for UDG Healthcare (UK, constituent) by Nenelite Limited (non constituent), please see details of affected indexes and effective dates below:
UDG Healthcare (UK, 3302480) will be deleted from the FTSE 250 Index.
Harbour Energy (UK, BMBVGQ3) will be added to the FTSE 250 Index and deleted from the FTSE SmallCap Index.
All changes are effective from 06 August 2021."
Hi Plebleens
yes agreed it is a tad confusing. The limited float did prevent us being in the June review. IR told me back then that HBR would be included in the September review. So without the free float changing until October - I can only assume that somehow being included in the September review means we are on the review list now (August) and we got the nod ?
Good news either way
HBR presently has the capital to be included in the FT250 but it won’t happen for six weeks. Promotions and demotions to and from the index occur quarterly in March, June, September, and December (around the third week).
Another blue day Buddha willing. Although the price is dropping as I type. MM's tricks again probably.
Understand that JW for the early inclusion but rightly or wrongly assumed that the reason we didn’t make the last reshuffle was due to there not being enough free float, otherwise we should have been a slam dunk back in May?
I wasn't expecting ftse 250 inclusion until Oct so I was pleasantly surprised yesterday.
For clarity
The 250 inclusion is nothing to do with free float - the free float wont change until October. The inclusion is due to UDG Healthcare (UDG) being bought out by a non listed company and consequently being deleted. Index rules can be found here ...
https://research.ftserussell.com/products/downloads/FTSE_UK_Index_Series.pdf
The Applicable rule is 9.4.5
If a constituent company in the FTSE 100 or FTSE 250 is taken over by a non-constituent company, the original constituent will be removed and may be replaced by the acquiring company where eligible for the FTSE UK Index Series. Otherwise the highest ranking constituent of the FTSE All-Share (which is not currently a member of the FTSE 100 or FTSE 250) will serve as the replacement.
Endeavour Mining (EDV) and Bridgepoint Group (BPY) were higher ranked than HBR - but currently they are not part of the All-Share Index- therefore next up was HBR
I hope he goes short and loses.
Well blimey this is a nice surprise. Long may it continue.
Mmmm I would not suggest a short position now on HBR. Bit of Russian roulette. If you got burnt on the downside why repeat the mistake on the upside. 50/50 call. No idea
HC
Amazing timing from the Captain on his purchase…good info on the free float ?
??
i'm putting on a massive short if this get to 360p
Cheers folks
Onwards and upwards
ATB
I'll be sharing more information on r/HarbourEnergychat at the weekend.
Inclusion into ftse250 from 6th August as per RNS
https://www.harbourenergy.com/media/qqcfslt1/210401-a-new-global-independent-oil-and-gas-company-april-2021-final1.pdf
Day 1 presentation. 41% legacy/former eig investors locked up for 6 months and 38% of current eig investors locked up for 12 months.
Ie release in October 2021 and April 2022.
Hope that helps. They aren't creditors so they like existing shareholders with different attitudes and will be very much like long term institutional investors.
Morning folks
Soder do you have a link for that .
Can find talk of it back in June and would this be in September
Thanks ATB
You can get that from the company presentations.
The assumption that every investor is a seller when a lock up ends is stupid. People were equity invests in chrysaor pre this. And they are smart people. They dont sell stock At half price unless they need the cash for fund outflows etc. Given these are not traditional funds why would they sell? To do what with the money? Swim in it? Count it? Throw a party?
can someone give me a breakdown of the % shares held by locked in investors and when they are free to sell their shares?
I believe in % terms they hold more than the creditors did. that will be a drag on the share for a very long time me thinks.
just a small outbreak in a population of 1.44 billion. so nothing to worry about then.
Not really news since it was only a matter of time.
Unusual timing but Good news indeed, means there is enough free float, so a lot of the overhang has been removed. Well done those that bought the cheap ones off the lack of risk takers…just really need that close above 342 then clear sky to 400+. Dangerous game averaging down, but have to say that I’m more confident than ever…just the small outbreak in China to contain but their stock markets stabilised from support and when have they ever let it it get out of control when they don’t want it to be…Good Luck sll
Harbour Energy (UK, BMBVGQ3) will be added to the FTSE 250 Index and deleted from the FTSE SmallCap Index.