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Thank you dryland.
If the 3 Millions buy/sell and other block buys we saw recently, hopefully means that there is a new buyer that might cross the 3% threshold soon. That stands at 4.4 million. It's obviously just speculation but it will do wonders for people if we knew that the shares being sold by Acacia are being bought by another institution. I guess they would have to time it right since a TR1 notifying a new holder of 3% will make the price move higher very quickly and that would be a negative to a new buyer trying to buy any substantial hold.
oh good, never like it when someones right! ;)
No not really because he was talking about Lansdowne :-)
We are still awaiting :-)
Sharesting was right! Eventually....
Now we know for sure the explanation for current SP action. OK. Just sit tight until they are out. It should be no longer than a few days now I expect at the pace they are now selling. Retail demand for the shares is soaking up the supply.
Once they are out its chocks away and 50+ here we come.
Heh........don't be too despondent. Because they are selling......we can top up at these low prices ....gaining twice the number of shares we would have been pleased to get at only a few months ago.....they will soon fly high....to our extra benefit.....
Remember we were all complaining then...... we had not been able to join in the fund raise.......basically this is our time!
Possible to get them all dumped before results.
@dedalus check out the volumes in this chart the high volume days roughly correlate with acacia selling down and you can guesstimate how long it will take for them to dump other 7/8m shares. Not sure what the average daily volume is but looks to be around 3m ish
https://tinyurl.com/ya2gnau5
Dedalus13 - depends on the volume in the market. If that big buyer (or any other) comes back in for some more then it could be done pretty quickly. They've probably got less than 11m though imo as I'll bet you they've continued selling in recent days hence the cap in price ;)
Nolupus - I'm not sure, it could be, but I also think it can be just a sum of a load of trades. So you see a load of buys (from the MM) and then later see a big sell reported. Ie, the MM has a big stock of their shares, takes a load of buys over various days, which you see on the trade feed, and then the big sell is later reported.
Algy7
I think you are correct on that one ...
It does match
Rich ,
The 3 million trade on Wednesday was in a once off trade ... probably negotiated between two parties off market , no ?
GKB47..............true sound answer but surely they would still stay in for a punt? After all this is the best game in town isn't it?
.....the 2nd RNS was for a 2% sale.....that is 3 million shares......
Hopefully they will get rid of everything before results. How long would it take to get rid of 11 million shares?
Nolupus - not really. Seen that sort of thing endless times. I'm not quite sure of the exemptions for block dumping (can find references to block trades potentially being able to be delayed in derivatives). Whatever the rules - it's not uncommon for you to see the dumping and the RNSs later (precisely why I was saying that's what you'd almost certainly see here).
They just saw an opportunity to buy a load of stocks for less than their market price and immediately sell them making them a tidy quick profit. I don't blame them. The holders of the Woodford fund are ****ed off though as it just meant more of their money vanishing off into thin air.
If it was Acacia who sold the 3 million this week , why did'nt they RNS it today ??
Bizarre non ?
They bought all of Woodfords holdings for peanuts as a big block of lots of companies and then just flogged all of them on the open market. Happened on loads of companys. SNG just took longer because they had more of them.
They brought the holdings at a discounted rate, about 7 Covid stocks in total. And they are clearing them all across the other stocks.
Fantastic news for us
Why would they sell down their holdings?
Do they now something that we don't?
7.54% Acacia holding on the 1st July so confirmation really the 3 million sale was indeed down to them. Assuming they carried on selling on the 1st and they have definitely been on the sale the last two days imo, through JBER selling 2p below other MM’s then they almost certainly will be lower now!. Great news, let’s get rid and move onwards and upwards!.:)
Yes the dates surprised me also. Is there a time limit when they should report a threshold crossing?
Another RNS down to 7% two days ago I’m expecting them to be under 5% issuing another RNS Monday at this rate and shortly after it’s party time seller will be gone