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You would think so and it looks like we may have now had the missing 2x500K of the last 1.5M due -
500K on 12-4-21 16.40 @ 4.9p (reported 13-4-21) and
500K on 15-4-21 11.02 @ 4.85p - why the slight price difference- I don't know.
Big trades - but the price stays flat.
It is always difficult to be sure but over the last fortnight it looks like there were 4.5M sells and 4.5M buys all at 4.9p (with the exception of the last 500K). During this period here was also a 400K @5.15p and a 600K @ 4.9p, together with the 5x200K last week, but I'm not quite sure where they fit in to all this. Huge trades totalling circa 8% of the company and the price barely shifts.
Taking a stab they could be apportioned 5.5M vs 5.5M.
You would think an RNS would be due as 4.5M is 3.2% of the company, but there is another possibility.
It could be a bed and ISA, so the name of the holder would remain the same although their shareholding might reduce slightly, depending on how matters were arranged.
Only two holders that we know own more than 4M shares in the company, Mr J A M Hemming 4% 5,592,809 shares, and Mr Labrum with his 21.1% 29.5M holding.
So I had though an RNS was coming, but we're still waiting.
If one or the other had transferred into an ISA then it is likely a tax charge would be due. Obviously we don't know their personal circumstances but Mr Hemming was buying somewhere around 4p, and Mr Labrum mainly between 2p and 3p. Mr Hemming's holding does refer to "and family" so I suppose things could be arranged to use up several personal annual allowances, but if someone (let's call him Mr "X") did buy around 4p, and sold into an ISA around 4.9p then the gain would be 4,5000,000 x £0.009, or on the face of it £40,500.
Of course there is another possibility that 3 individuals bed and ISA'd 1.5m each, so quite possibly no tax payable on those transactions (depends on personal circumstance) - but would they all do it at the same time?
And why now at the start of the tax year - using up all (and more) of your tax exempt amount almost before the year has even started. If this is the case whoever it is must be confident that there will be the potential for stellar gains here later in the year, sufficient to take the risk that THIS will be their share of the 2021/2 tax year and no other.
Mmmm...intriguing.
Back to watching and waiting.
Surely we're due a holdings RNS after the recent trades?
At first glance it looks like we have got at least part of the outstanding 1.5M trade - 500K @ 4.9p @ 17.28 which is listed as a buy, following the share price "fall".
None of Thursdays 5 x 1.5M have been deleted as yet, so it appears that they all stand.
Presumably the transfer of shares is only part way through, hence no RNS as yet, although I think parties are in any event allowed 4 days to file with the company.
Back to watching and waiting.
No problem Skittish
6/4 59461
6/4 39611
8/4 65901
Expect to see some major development prior to end of April.
The accumulation will be seen to continue this week
Timmit - Dare I ask which were your trade(s)? Just for the purpose of elimination.
No need to say if you don't wish to.
I've been trying to find a link between Mr Labrum and Mr Hemming but nothing tangible thus far - their paths may have crossed but dates don't match up.
Hoping more will be revealed prior to month end.
Good luck to all.
Thanks for sharing your thoughts and insight skittish, exciting times
Glad I finalised my holding last week then. Rounded up to the nearest million but below 3%. GLA
WELL thank you makes interesting reading. Not sure I understand it all but i've been invested her a while and only recently has it looked interesting
Ah ha! That is the $64,000 question.
Truth is - I don't know. And nor would anyone who is not privy to inside information.
PRIM in its present form does not strike me as a leaky ship. It doesn't have a wide following and whilst there is a little pi buying it is very limited. Clearly no one with "inside" information is buying, apart from directors and we can all see what they have been doing.
I think first we have to wait for the big trade pattern to play out - are there any more 1.5M (1%+ of the company) trades to come, will any be deleted?
Then the RNS stating who has been selling, and who buying - I think one must come given the scale over the last week - if any of the named 3%+ holders sold just one of the 1.5M trades they would have to RNS, as it would take each below 3%.
If we know who sold we can make a judgement.
If we then know who has been buying we can also make a further judgement. If a director - interesting. If Mr Labrum has bought 3 x 1.5M it would take him to around 25% - well on the way to the 30% I think he may be trying to achieve. I had thought he was just trying to protect his investment, and not end up like the last lot of directors whose avarice and lack of forethought led to them losing the company - although they appear to have made some interesting investments along the way.
Now, if it is indeed he who is buying I think his plan is maybe a little more subtle. Get as close to 30% as he can prior to dilution, so he still retains a large degree of control after dilution. Thinking out loud (NB. I am probably way off) - reverse something into the SPAC(s), paying for it with the ready cash and issuing shares in PRIM, to the sellers and maybe also raising further cash in addition. Put in a few worthy non execs into the SPAC, jazz it up a bit with the cash and then float it on a stand alone basis.
I don't think he would go to all this trouble, unless he had a plan. And he began buying PRIM late 2019, so the plan has already been cooking in one form or another for 18 months. He must now be close to realising at least part of the plan if he is up to 25%.
As to the enigmatic 4% shareholder Mr Hemming - he posts on the other side, almost exclusively on resource stocks. Maybe the GGP investment piqued his interest here, although his declared interest was post that. He is no slouch himself in business - amongst other things he founded JHC Systems which created software which now runs £150Bn worth of assets for third parties.
He also posted a tweet yesterday -
"John Hemming@johnhemming4mp·21h
Close to launch of new cybersecurity system on AWS."
https://twitter.com/johnhemming4mp
Now that maybe something, maybe nothing at all as regards PRIM.
But I think PRIM is quite fascinating at the moment.
Lets hope that the plans work out - whatever they may be.
The next few weeks could be interesting.
As always nothing is certain, far from it.
SKITTISH...a very detailed analysis but what does that actually all mean ?
I've changed my mind - we are most definitely due an RNS from at least one party.
There are 139, 830,968 shares in issue - so 1% is 1,398,309, or 1.4M for ease of calculation.
Prior to the last directors RNS on 19-3-21 most of the large trades (buys) were around 100K, with a couple approaching 300K, obviously picking up loose stock. Up to then directors had picked up around 1.3M - and this was reported in the 19-3-21 RNS.
The following week a similar pattern emerged with 6 100K buys. The week after things jazzed up a little with 3 trades of around 250K reported - all appearing to be buys - on another chat board 1 pi claimed one of the 250K's.
Last week the pattern changed dramatically - mainly 200K sells Tuesday and Wednesday - all subsequently matched by buys and then on Thursday 8th April the price artificially dipped from 4.8p-5.2p to 4.7p-5.1p and we got the following trades all at mid price -
12.10 600K 4.9p
15.13 1500K 4.9p
15.14 1500K 4.9p
15.25 1500K 4.9p
16.20 1500K 4.9p
18.30 1500K 4.9p
Now the 15.25 and 16.20 were reported that day with only a slight delay, the 16.20 being followed a few seconds later by the spread/commission payment trade - sell/buy with the buyer paying all the spread/commission.
The 15.13, 15.14 and 18.30 were all reported the following day.
I would assume that two of these were sells and one buy, so we are still awaiting a 1.5M balancing trade. The price moved back up to 4.8p-5.2p on opening the following day.
Now some of these trades may yet be deleted, or possibly they are evidence of a "pass the parcel" type arrangement, but if they are a genuine sell/buy arrangement then additional the previous activity someone on 8-4-21 sold 4.5M shares and someone bought 3M+ shares.
4.2M is 3% of the company, so we would be most definitely due an RNS now, just based on the sellers activity.
If the same buyer is responsible for much of the recent 100K activity, then he has probably bought somewhere in the region of 5M to 5.5M shares over the past couple of weeks, approaching 4% of the company.
Most of the significant declared shareholders here are hidden by either nominee accounts or by being just under 3% but RNS's reveal the following holdings -
Mr A R Po**** 8-9-20 3% 4,195,000 shares
Mr S Ball 9-9-20 3.1% 4,210,822 shares
Mr J A M Hemming 24-2-21 4% 5,592,809 shares
Mr Po**** is definitely aligned with the present board, as I think is Mr Ball. Mr Hemming is enigmatic, as ever. All should be sitting on a fairly decent short term profit at 4.9p. I'm assuming previous directors sold out long ago, Clayton went below 3% in November, and that is what pushed the price down into the 3's end 2020.
If, and it is a big if, Mr Labrum is our "mystery buyer", I had calculated based on March activity it would take until July for him to get to 30%. At present speed he'll be there by the end of this month.
Watching and waiting.
Maybe - but lack of an RNS suggests he hasn't finished buying as yet.
I expect an RNS today. Some large transactions have been taking place.