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£1.20 open?
Will continue to move up as any weak sellers are taken out to fill the larger buy orders. Looks set for a nice move upwards - tested £1.25 today and expect it to break through this tomorrow. Then the next point will be how it overcomes £1.42 on the way back to £2+
Yep expect this to lag a week behind this weeks airline/tour operator spikes. Great entry sp and set to soar soon.
The TUI effect would be nice, but with lockdowns lifting and air travel back on the agenda see a nice re-rating coming.
Time to load up here with the aviation sector on the up we look braced for a V shaped recovery. I would re-evaluate once we are over £2! bargain at these rates
Absolute rubbish this stock. Doesn't seem to be going anywhere atm. Gutted as almost sold this to buy tui few days ago. Could have doubled my money there already!
Expect the TUI and IAG effect here - it will progressively move higher. Expect a re-rating soon enough.
This should be doing much better today compared with wider market inc aviation stocks
It MM's signalling to each other
Who puts down a quid on this? Dealing cost at least an order of magnitude more expensive!
Holdings RNS due - I think will show Mithaq Capital are still adding
This is likely to be to do with incentive plan for BoD. They need to create them before they can allocate as per their performance achievement or not. It is effectively a tiny dilutio. This is my view and maybe incorrect!
Resolution 13 - authority to allot ordinary shares in the company....unless this means something else I don't understand. Happy to be corrected if I'm being stupid
The board and top shareholders own approx. 55m of the 84m issued shares.
Any dilution would significantly harm their holdings also.
19 Resolutions were voted on, please tell me where you have seen a vote passed to allow dilution?
Which resolution was that?
Having said that, a resolution was passed allowing the company to issue new shares too. So a placing could be a possibility, with the company buying back those newly issued shares in better times ahead? Just thinking aloud
Results of buy back resolutions;
17. Purchase of own ordinary shares by the Company. VOTE for 99.91% / against 0.09%
18. Purchase of own preference shares by the Company. VOTE for 99.88% / against 0.12%
Will be taking shares off the market - they will pick up on it.
All items passed
Good point re placing. They do need to update re Covid impact as soon as to reassure market, assuming positive SP will improve.
Also, as these resolutions have all passed, a placing will not be necessary as they must have spare cash to hoover up the shares. All good. Shame it hasn't caught on yet!
If this is approved they will lose any chance of getting a govt loan, slim as it is. To me the implication is they therefore do not need one! If they know that then they must have a fair idea cash burn and liquidity position which would be good to share!
Oh yes...and naturally expect the buy backs to be agreed at the session lows...naturally
Its certainly a huge statement of confidence and naturally returns value to all shareholders
''''What Is a Stock Buyback?
A stock buyback, also known as a share repurchase, occurs when a company buys back its shares from the marketplace with its accumulated cash. A stock buyback is a way for a company to re-invest in itself. The repurchased shares are absorbed by the company, and the number of outstanding shares on the market is reduced. Because there are fewer shares on the market, the relative ownership stake of each investor increases.''
That sounds v promising convb! What an effect that will have on a small free float SP !!
Buy backs to be approved at today's AGM. Buy backs are a sign of big confidence SP will rise.
'Resolutions 17 and 18: Authority to buy-back shares
Special resolutions 17 and 18 give the Company authority to make market purchases of its Ordinary Shares
and 9% cumulative preference shares (the “Preference Shares”) in the market, as permitted by the 2006 Act.
The authorities set the minimum and maximum prices and limit the number of Ordinary Shares that can be
purchased to 8,430,932 (representing approximately 10% of the issued Ordinary Shares as at 27 March 2020)
and the number of Preference Shares to 1,394,587 (representing 100% of the issued Preference Shares as at
27 March 2020).'