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.36 Ask sounds about right, a 10m and a 3m just popped up on the chart for the last 5 mins.
I'm sure the sp will correct in a minute or two!
I would say the real spread is 35-355-36
I was the 250,000 trade at .0036 last trade yday. Topped up after seeing the blocks go through.
Well, if you have a quick scan of FCRM's RNS's you will get an idea of how much and how often they have been buying there.
Maybe they saw a better return, short time period... don't know, TBH, it was just an idea.
They were the smallest of the ii's from the placing with C. £350k initialy.
The way the spread is, you can't really say for sure any of the trades this morning are sells??
Since 19th May, numerous blocks between 1-5m have gone through. The blocks of last 2 days would added to that recent flow would make me think they could have sold their entire holding. On one hand that is positive re supply and demand, on the other, a concern that an institution supposedly knowledgeable about the industry chooses to bail pre an imminent, potentially game changing, announcement.
I can't see Harwood selling all of their holding, I doubt they are that silly, they most probably will reduce significantly. so if it was them selling, they may well be over- but we may never know.
Thanks for the precis, Spud and Mrozzy.
IMO, the seller is definitley Harwood.
They have been buying big into a company called Fulcrum of late. FCRM
Oddly enough a utility infrastructure and services company. I noticed the link between the two back in April when Fulcrum were selling off some domestic gas assets. Hmm, I thought. Gas infrastructure, Harwood, Infa... anything to see there.
Noticed their RNS today and it reminded me. Hardwood now have a NED on their board.
Anyhoo, I think they have continued to sell out after they went under the 3% a few weeks back.
Last we knew they had 112m left as of the 19th of May.
IMO, DYOR... yada yada. :)
Reading the broker note has confirmed my thoughts that H&W is the medium term value driver!
They just need to get through the next few months until break even. Potential EBITA is enough to get an experienced CFO of a global company excited ! That's very reassuring to me.
The seller will subdue the sp for a while yet imo