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@BeContrarian - Doesn’t the “acquisition or disposal” bit only apply when the deal is crossing some boundary that would affect the status of the holder?
totally agree dd!
A good few years ago, I worked with a firm that received investment from a Venture Capital firm with a view to exit via a trade sale.
I had not worked with a VC firm before (or since) but prior to agreement of a trade sale the VC restructured some of it’s shareholding, distributing a portion of them between a number of connected parties, for example the partner dealing with our firm and other VC employees.
My role was not Finance but I gained the impression the purpose was to reward VC staff as tax efficiently as possible by securing the shares at the lowest value possible and not at the post takeover value? I would not be surprised if the LOAM ‘sales’ are related to some sort of tax avoidance scheme but in effect not reflect a ‘sale’ in the ordinary sense. It might also help to explain the earlier mistake of reporting a previous LOAM sale as a ‘purchase’ before retracting in a further RNS.
That's odd. I only see a 13 July purchase of 5million at 34.2p which for which the disclosure seems to be in the same format as the one that is being debated.
I think this was take at the time to be a purchase by HT and this,
together which together with the purchase by Tariq Hamoodi got the market fired up.. Its early and I'm rushing so could have misread.
Found this from July’s sell.
https://www.pilling.co.uk/home/profiles/news-and-research/external-news/article/?category=dealings-round-up&slug=director-dealings-nanoco-director-linked-to-pound17m-share-sale&story_id=10159430#
Not sure about this. LOAM is a major holder so surely this would come under the standard TR1 ‘acquisition or disposal’… category? That’s how it was reported last time LOAM sold
Yes LOAM is selling but is it because he’s close to LOAM or LOAM is selling for someone close to him? Who knows. What was annoying last time the media stated incorrectly the a director had sold!
I agree now. Sorry for wasting everyone's time. I was confused by this in the RNS
Nanoco (LSE: NANO), a world leader in the development and manufacture of cadmium-free quantum dots and other specific nanomaterials emanating from our technology platform, has been notified of the following transactions by a PDMR.
Whereas it is in fact a PCA of the PDMA.
And we know LOAM trade in an out all the time..
Keep up the good work all..
Thanks. So that means that LOAM are a PDMR?
Although you can have a coporate "person" I didn't think a shareholder would be a PDMR.. But I accept I could have been mistaken on that.
The PDMR transactions register contains data about persons discharging managerial responsibilities and the transactions that they and persons closely associated with them have performed in shares and debt instruments issued by the issuer and other related financial instruments.
Wheras Mr Tulchan does appear to fit the description of a PDMR
Correct DickyH.
Its Loam thats selling. The declaration is made precisely because they are associated with him.
Hi Bagpuss, under the field “ Position /status” it has “PCA OF HENRY TURCAN, NON-EXECUTIVE DIRECTOR”. If it was him selling it would just have his name. PCA = person closely associated with them. Yes it could be his wife, a business partner, brother, we don’t know . All we do know it’s someone closely associated with him is selling. Hope that helps, Regards Morbox.
Why it's not him.. I assume you mean its not him selling. If that's thats what you mean, Im just asking why you say that?
Why what Bagpuss?
Please explain why?
Being funny (typos)!
Not beeping funny, it’s the IPad I just typed Bagpuss and it auto corrected!
Hi BagPuss no, it wasn’t, just a typo, that’s all, I’ve always been civil on here and will carry on. Have a good evening.
You are correct Morbox.
I assume that the capitalisation in the Puss was an attempted insult? I'm not sure why you would want to do that.
Not sure you are correct though with what you are saying as the whole RNS is headed up DIRECTOR/PDMR SHAREHOLDING
@ BagPuss. It’s not him “ Details of the Person Discharging Managerial Responsibilities ("PDMR") / person closely associated with them ("PCA").”
@Bagpuss: Turcan also sold one or two days before the PTAB verdict came out so I really wouldn’t read anything into this sell.
That's two people though who are likley to be closer to the action who have taken profit/derisked.
Just profit taking/ de-risking. Heads he wins, tails he wins big.
Doesn’t affect the investment case and wouldn’t be able to do it if had access to priviledged info.
So Henry Turcan, dropped in by LOAM, sold out nearly 2M shares in two lots. One lot on 16th and the other on the 17th. We only get the notification at 16:10 on the first day of the trial conference. Are we being royaly shafted or, is an bid in the offing? Answers on a postcard......