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Test
Miggy....
I agree with the sentiment of your 18:35hrs post....
that was my concern in one of my earlier posts regarding the future dynamics of the shareholding....PI’s versus II’s....
following the placement......
This is why I believe that PI’s should take up all the open share offer.....to maintain a large as possible shareholding percentage ....so we have at least some sway in a shareholders vote on future deal outcomes.....
Unfortunately with this placement we are likely to loose our 52% PI majority holding in SGN....but this is a price we must pay to have progression to Phase 3 trials and SGN production .....
GLA
Sorry, folks. My numbers all wrong.
SNG is raising £7,000,000 from the open offer.
Assuming only 50% need to fund their purchase by selling, we need to find a total cash pot of £3,500,000.
This represents 1,881,720 shares sold at 186.
With the 2,411,000 buy today, it is likely that there will be no more sellers of this type tomorrow.
Market cap x 10, then we’ll start thinking about it !!
GLA !!
Something else that keeps nagging me is that if RM was asking big dollars for SNG001 from big pharma, which he is entitled to do, they may have just looked at it and thought, you know what their market cap is around £280 million let’s just buy them. It’s a long shot but it is certainly possible. Nothing would surprise me.
It was pretty obvious an order was being filled tbh. MM’s make a penny a share or thereabouts, by keeping the spread tight encouraging sellers, on 2.4m shares dealt and plus their commission for the trade. No fluctuations today to attract traders. I think it’s pretty solid at this level, we’re still able to buy in lower than Venrock which is good enough for me.
@tyla If that is the case we can do some numbers.
For me, I have holdings in my SIPP as well as my ISA. The ISA is full, so I'll need to sell some to buy the 175's. My SIPP is OK as I can free up cash to buy the new 175's. So, intuitively, only some will need to fund their purchase by sell some - let's say 50% (at a guess).
So we have a total of 7,000,000 shares at 175 giving a total pot of cash needed of £12,250,000.
Say 50% need funds by selling, i.e £6,125,000 of total cash needed.
Assuming we are able to sell at 186 (as has been all day today) we need to sell 3,293,010 shares in total.
Now the big buy today was 2,411,000 shares (ish), leaving a 'float' to sell of 882,010 left to sell.
If the same game gets played tomorrow, they may run out of sellers by lunchtime!
This has been going on behind the scenes since the move back to the 130’s and then back up to 230. The share price was moved up and down by the mm’s to collect shares knowing that the placing was going on behind the scenes. Orders were placed then and just know being put into the market. All will be revealed shortly when tr1’s land.
The shares are possibly coming from us, selling stock to buyback at 175
Ordinarily the sp would explode if there was a £5m buy. Lucky buyer managed to get the whole lot at £1.87.
Must be a huge seller in the background.
My guess is that the buyer will still be buying tomorrow.
Manifesto, LOL ! , its Actually its 40 minutes after my allowable beer time but a bit of speculation never hurt anyone... or did it :)
wafer....Did you open the bar early today...LOL!
Something going on here for certain.....IMHO!!
GLA!
Then, was 149M shares difficult for Purchaser to get enough to win clear vote?
Now 200M+ shares out there, large sells /buys etc, also brief Flatliner, have they enough now to win a vote ?
Was the extra issue a nice 80M dress/suit to wear to the engagement party, marriage soon or "going our own Way"
Just a debate topic, fire at WTTam...:)
Should we brace ourselves for a rough day tomorrow then? Because it seems like there has not been much buying apart from this monster 5m just now?
So this is how they transfer from the impatient private investors to the stickier fingered investment types.
If that trade soaked up all today's sells, then you have to wonder if that is all or if the buyer will be after more tomorrow?
It could all happen again tomorrow - but the cat is out of the bag, methinks....
Dumbpunter.....Buys were going through just under the mid price today,
so there were more buys than sells by a huge margin.......MM's making it very
difficult to see what is going on here......But we have seen some unusually
large buys this week...........Is a US buyer stocking up under the reporting
threshold?????
Surely £5m buy also means someone sold £5m?
That’s why there was hardly any movement today?
Time 17.04 2,411,674 @ £1.87 Just after the closing UT trade at £1.87
Closer to 4.5 Million.....But this is a sign of things to come...
Is there a bid on the table??? Definitely something significant happening
in the background....IMHO!!
Has to be an RNS with 5m shares I would say.
RNS tomorrow?
There won't be much of a free float left after this is all said and done. Curious to know who these are for.
That was my gardener investing his Xmas bonus.