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IANAA has reminded of ARCM disclosures, or lack of.............!
they should not be assisted, more so investigated IMO.............!
that said, if PMO come out of this to the good, and looks like they have, that will all be forgotten, but I hope it isn't............ :)
All the best (ethos............? does that mean dirty scumbags....? :)
I don’t like the ethos of ARCM, but in fairness to them they have forced to TD to focus on debt repayment & would we have got the Bp deal on current terms if they weren’t onboard. I hate to say It but The combination of Covid & Arcm has created an opportunity that TD has exploited.
I don't know enough about this saga.............!
but looks like PMO have paif ARCM off, to drop court appeal, to allow the acquisition..........!
is that the long 'n short of it (pun)..........?
All the best.
Eitherway they still need to buy close to 100mln (?) shares on the market to close the short
Could be some more fun & games to come yet with ARCM....How sure can we be that they won't just simply dump the 82.2 Million 26.69p
shares they've been given on or after next Wednesday.....surely there will be 3- 4 p dilution to whatever the share price finishes at on Tuesday night......would it not suit their purpose to bring about a share price fall in order to close their shorts at a lower price?
Part of the deal is that ARCM will use the shares to close part of their short position, so they won't be dumping them as such so they can make the share price lower. Of course the dilution may have that effect, but as the total short position will reduce by around 8%, that must be a positive for the company going forward.
Seems like a blinder of a deal, ARCM have been incredibly lucky, just show though, they were objecting to the deal way back before Covid with only their own interests (their huge short) at heart. Still as mentioned, they will still have to close the other part of their short at some point and with the oil price heading north and this deal in the offing, a low price opportunity is gradually moving away from them.
Good luck all.
LTT
They could use the new shares to close half of there short then buy 11% to close there remaining short the price will rise which would mean there loans would be more secure.The other thing they could do is dump the new shares on the market which would drop the price so they can close there short at a lower price but with the rising price of oil the price might not drop so I hope they do my first thought