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RK, fortunately not. I collect books and she approves of the house being full of them. Mind you, why I've kept the the Blue and Yellow books is a mystery to me.
Wow! Thats really sad addickt....I also used the blue and yellow books but that seems eons ago now...
Does your wife ever nag you to clear out all your old books...?
You are spot on with regard to your comment about the market not valuing things properly and the risks it poses. I believe we are in the same situation, although I can't see BHP missing out.
I've heard the shareholder register will be updated in the next couple of days.
I dont blame the Chinese for buying out critical resources specifically when the market dont value it properly, here bhp are missing a golden chance to buy out solg, if they offered 100p im sure many would say yes, everyday passes copper is getting more expensive
L2, that's a very interesting situation. I was a holder of BCN for a number of years but sold out when Ganfeng came on board. I could see it only going one way and all of the excitement disappeared.
I've drawn a comparison between us and BCN before, although we have more options. But what it does reveal is the danger of letting a single dominant shareholder appear on the register.
Many of the BCN are disappointed, although if you bought the shares fairly recently, you're looking at a very healthy gain.
I've got half a tin of an interesting taupe Farrow and Ball paint if anyone wants a more interesting hobby.
Chinese have started m&a in lithium in Mexico surely solg is even more tempting, copper gold silver all in 1
BNC, yes, at least we know they have a legal obligation to update the register.
This issue shows just how difficult it is to understand the rules. On my bookshelves I still have the copies of the Blue Book (the Takeover Code) and Yellow Book (the Listing requirements) I was issued with when I worked in corporate finance in the '80s. The Blue Book runs to about 60 or 70 small single-sided pages, including pro-forma forms. The Yellow Book is even shorter. They were easy to understand and were the bibles of their day. Compare that with what exists nowadays. The current regs are like reading War and Peace with thousands of cross references etc. It's a total farce.
not much hope for us numpties then hey addicknt?!?
in a word woody
no we dont I'm afraid - not yet at least
once would think having stated in prior RNS's that we'd got these important new investors that we'd then follow that up with confirmation even if their holding is not crossing any thresholds
but who knows
lets hope it all comes out in the wash soon - as Im pretty sure it will just need a lil patience
r's
bn.c
they'll update the share register as a matter of course - they always do -
This may amuse you:
I decided to ask an old mate who spent 40 years in the City and was head of corporate finance for one of the largest global brokers. His response was: " You're testing me now! It would be a guess but I'd assume if they hold more shares, even though the percentage remains the same, they'd need to declare the fact"
The rules are so opaque that even an expert is unclear! I spent some time this morning looking at the regulations and I'm still none the wiser...it's more complex than just looking at DTR 5.1.2. Oh well, I suppose it doesn't matter in the end. What we do know is that they've invested approximately 20M of new cash between them.
Maybe someone could tweet them for a updated shareholders register,
DTR 5.1.2 R 01/01/2021
RP
A person must notify the issuer of the percentage of its voting rights he holds as shareholder or holds or is deemed to hold through his direct or indirect holding of financial instruments falling within DTR 5.3.1R (1) (or a combination of such holdings) if the percentage of those voting rights:
(1) reaches, exceeds or falls below 3%, 4%, 5%, 6%, 7%, 8%, 9%, 10% and each 1% threshold thereafter up to 100% (or in the case of a non-UK issuer on the basis of thresholds at 5%, 10%, 15%, 20%, 25%, 30%, 50% and 75%) as a result of an acquisition or disposal of shares or financial instruments falling within DTR 5.3.1 R; or
(2) reaches, exceeds or falls below an applicable threshold in (1) as a result of events changing the breakdown of voting rights and on the basis of information disclosed by the issuer in accordance with DTR 5.6.1 Rand DTR 5.6.1A R;
So I think in fact looking at (1) that you only need to notify if your holding crosses a 1% threshold - which is what ColonelDrake said.
So from this should we infer that BHP and NCM have maintained their respective holdings at 13% and change? Which would make sense given that Solg is now proactively working with its major shareholders.
CD that’s how I understand it.
Worth noting that so far all the notifications are holdings that have move through a whole percent point. Up or down.
Do we know what percentage of the company is now held by the ‘new’ investors?
CD, yes, that's correct for normal market based trading, but an issue of new shares needs to be notified - at least that's my interpretation of the rule, although I accept I may be wrong. And you are right about the Chinese - I wasn't expecting anything from them.
Pinot, that's an interesting point. NM revealed how many new shares he subscribed for but it was in a personal not corporate capacity. So I 'm a bit unclear about that one. I guess it will be revealed in due course.
Morning all....I think Samuel Holdings is NM and his share increase has already been shown.
Pinot
:0)
Anyone able to shoot a message to IR to see if they have a response for us?
to me that Tenstar, Samuel Holdings, BHP and Newcrest are now in serious breach of Rule 5.8.3.
For the life of me I don't understand how or why they are avoiding their statutory obligations.