George Frangeskides, Exec-Chair at Alba Mineral Resources, discusses grades at the Clogau Gold Mine. Watch the full video here.
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Hi there krull. I think this is still the legal situation, but it may have changed. IMHO few or possibly any, of the RNSs we've seen recently from RBD and Deltic are about large new share purchases. What we have been seeing are the statutory announcements which shareholders in both companies are obliged to make at the beginning of an offer period. Institutional holders with more than 1% (rather than the more usual 3% shareholding notifications) are obliged to divulge their holdings even if a bid is only under consideration. They must also update the market if their position changes during an offer period. We should soon be able see if anyone new has bought more than 1% of the Deltic's or our shares, or even a smaller purchase that puts them over 1%.
Have just read your post Rubey, (20.19) yep that kind of makes sense
The RNS
https://www.lse.co.uk/rns/DELT/form-83-reabold-resources-plc-9qy8t9fc1eaq8gl.html
Looking at Deltic RNS number 3 (time 11.44) it implies RBD have acquired 4% of Deltic stock, but only have a controlling interest of 3% at this present time, not sure how that works out or why! maybe someone else has bought them and not in RBD name yet, or could be a different class of share that has no voting rights, not sure even if iv'e understood it correctly. Maybe someone with better knowledge could enlighten me, thanks in advance
99treble, in these circumstances all shareholders who have more than 1% have to disclose their shareholding. The shareholder is described as FMR and FIL, holding 272,438,977 shares in RBD being 4.03% of RBD's share issue. They are also disclosing that they have shares in DELT, but are as yet to disclose their shareholding assuming they have over 1% of DELT's share issue.
This is my understanding. I hope it helps. RBD wouldn't have brought it to this stage if they didn't already have 50% (or close to) of the DELT shareholders behind them.
Rubey, check out DELT bb, 11.44hrs there's an RNS Reabold resources, it's exactly bang on 3%, just enough to disclose to market. If this is why they've forced the bid situation today, then they know its in the bag, including future plans for it imv. Please take a look and see what you make of it.
I think you are mistaken about the 3% 99treble. But I suspect they have the 50% anyway.
If I'm not mistaken, RBD own 3% of DELT stock as disclosed on form 3.8, so together with the big DELT shareholders holding of 50%, its already a done deal. Massive news.
Very good post JoD
It will be an illuminating process.
Actually I am quite fascinated. And I think it was me late morning we would end level
And so it is
Games games.
Thank you for the summary. Helps me understand it much better so thank you.
There are a number of advantages with Form 8.3 we get off the back of the 10 day mandate to supply Opening Positions above 1% or any subsequent positions.
1. We get up to date confirmation of holdings, which we can match against the latest info on RBD website as at 08/12 May 20.
Ruffer, Hale, Chelverton & Fidelity declared today that they are all holding the same position.
Miton Asset Management 11.51
Ruffer Investment Management 6.82
Chelverton Asset Management 4.96
JO Hambro Capital Management 4.94*
Fidelity International 4.04
J Safra Sarasin 3.71
Hargreave Hale 3.30
ICM Investment Management 2.97
Janus Henderson 1.99
Jarvis Investment Management 1.92
Charles Stanley & Co 1.79
Guinness Asset Management 1.46
HSBC Wealth Management 1.43
2. Sellers - We now know that from 12th May RNS, JO Hambro have been selling down after dipping below 5% to 4.94%. As at today they declared 3.33% (Probable cause of being range bound with Hambro offloading)
3. New Shareholders or just not listed as at 08 May - David & Monique Newlands @ 2.4%
4. Over the coming days we will see the others confirm or deny.
5. Then we get onto the good stuff as Deltic are going through the same 8.3 process, so we also see the other side of the fence. I would have expected S&S to sound out our 50%+ group of II's, as they could be sat of both sides of the fence.
For example, Hargreave Hale have 3.2937% in RBD but also have 13.8187% in Deltic. The same could be said of David & Monique Newlands 2.4% in RBD and 3.47 in Deltic.
Interesting times......Day 1
Jack