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What the deuce is happening here? We have had two funds accumulating 5.7% and 5.6% this week. Where on earth did these come from? And now 92.7% of shares are held by the top 5 holders. Is this correct?
Exponent 33.8%
Ravensworth 27.5%
Toscafund 22.4%
CIP Merchant Capital 3.6%
Hestia 5.6%
What the deuce is happening here? We have had two funds accumulating 5.7% and 5.6% this week. Where on earht did
Chart toppers we have a new entry piling in at 5.6%.
I think the figure quoted is from trades on Tuesday.
So are we to expect another RNS with regards yesterday's big buys??
Hopefully we can move north from now on.
This was from the RNS at the time of the capital raise (at 10p) in December last year.
o Firm Placing of c.£18.6 million with Toscafund Asset Management LLP ("Toscafund") and Ravenscroft (CI) Limited ("Ravenscroft")
o Open Offer of up to c.£35.5 million
§ Exponent Private Equity LLP ("Exponent") has committed to subscribe for £15 million of shares under the Open Offer
§ Toscafund has committed to subscribe for their pro-rata entitlement under the Open Offer
§ Ravenscroft has committed to subscribe for their pro-rata entitlement under the Open Offer
§ The commitments to subscribe for shares in the Open Offer are subject to certain conditions, as described below
§ The Open Offer will not be underwritten, save as described above
I presume Ravenscroft and Rvensworth are associated. Just looks they have taken a lump of stock off someone else's hands to protect their investment. Just like you guys really - buying more to protect what they have got. So presumably they are positive about it. They are an investment company though so I doubt there'll be an offer. Might be through the worst of the selling now though.
I think the 19.5m shares are shown as one party selling and then separately one party buying that block.
So Ravenscroft bought up circa 6% of the company yesterday getting them to 27.5% and today another huge trade goes through which would take them over the 30%. It can’t be coincidence Ravenscroft must have crossed 30% today. So it’s 25p offer in morning I presume?
Some delayed trades from two days ago going through as well, WTF is going on here?.....
Another 39 million shares have been bought for £6 million. That's nearly 80 million shares bought in the past 24 hours. Another TR1 on the way.
Castle.
I have no intention of selling
However!
We are not at the TO target of 30%.
So jest as much as we want with figures, time will tell.
Quite possible that there is more share buying in the background.
Clock ticking.
Gla
Highest price was 25 pence?
plus a premium please..30p????
Highest price was 25 pence?
And still the SP drops ...hmmm
But what about the 2.8%..have I read into that wrong.
7. Total positions of person(s) subject to the notification obligation
% of voting rights attached to shares (total of 8. A)
% of voting rights through financial instruments(total of 8.B 1 + 8.B 2)
Total of both in % (8.A + 8.B)
Total number of voting rights of issuervii
Resulting situation on the date on which threshold was crossed or reached
24.7%
2.8%
27.5%
696,477,654
Position of previous notification (if
applicable)
21.8%
0%
21.8%
Increased by 3 % "yes 30% for a bid:
When does the Takeover Code apply? Generally speaking, an acquisition of a public company will be governed by the Takeover Code if the result would be for the purchaser and its "concert parties" to control 30% or more of the voting rights of the target.
Is there a percentage holding (30%) when they may have to indicate a takeover bid???
Am I correct in my calculation, it looks like the may have increased their % by close to 6%, which is close to the big sells/buys yesterday.
So obviously they have faith in the company.
Reiterate onwards and upwards.
Gla
Must be, better not be giving him mates rates on tool hire for it, he can afford to pay full wack.
The slide will halt now!!!
Onwards and upwards.
Let's head closer to 20p
True.
Estate planning, a new phrase!!
Well at least by the look of it they have been snapped up during the day
True.
Estate planning, a new phrase!!
Well there’s your answer, Ravensworth increasing, Chairman dumping at a time when Directors should be buying if we are to believe we’re on the turn….
Assume its one of these 3...
Exponent Private Equity LLP 235,681,708 33.8%
Toscafund Asset Management LLP 156,018,724 22.4%
Ravensworth International Ltd. 151,990,000 21.8%
And now showing 39.2 million bought back. Who knows what's going on but I hope it help the share price achieve a realistic value. Anything under 25p seems undervalued.
That 40 million sell account for nearly 6% of total shares in issue. I wonder who sold? All will be revealed shortly no doubt.