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Polygon have now about 500 million shares - started collecting
after the 8th Jan..
Polygon Global Partners "convertible bond strategy focuses on convertible securities"
Say no more.
"Provided there not intent on blocking the vote to buy it
out of administration !"
That was the first thing that jumped to my mind, a la Debenhams, if they are a major stakeholder they might be able to put a deal together first and work with AA post Admin. I dounbt if they want to be long term providers of capital to a mine that requires billions, they might be able to manage the equivilent of "flipping' it out of Admin.
Provided there not intent on blocking the vote to buy it
out of administration !
You have to admire the irony and absurdity of it..
All this time ****ging off short hedge funds, but now seeing a hedge fund as the last great hope....
This is the stuff that keeps me interested as a private shareholder.
The winning is good, but the insight into the human psyche is even more valuable.
Any concern that AA are sharks, might evaporate quickly :)
So the article is in respect of Poiygon being (an) Anglo American headge fund
- not a hedge fund for Anglo American?
Polygon, the Anglo-American hedge fund, has lifted its stake in Countrywide to about 23 per cent, giving it potential blocking power in a vote on the £1 billion sale of Britain’s biggest estate agent.
"And the mystery man i asked about on the 15th: Mr Perry Morgan 1.36% ??"
Try a search on https://www.bloomberg.com/profile/person
Are polygon a hedge fund owner by Anglo America? An association came up when I googled them both?
LTV - join Sharesoc - you are needed over there...
Excellent post LTV
I'm not sure Polygon know anything about what Sirius are doing (Sirius have recommended the offer and don't seem to have a plan B - shysters), but Polygon might be cooking up something themselves or know of some other potential interest
Polygon took a massive punt on Quindell/Watchstone after it tanked and they've done incredibly well over there,. these guys don't mind a bit of risk and they're no mugs. Come on Eugene - are you with us!!!
It would be good for Sharesoc to reach out to them and get a clue on their voting intentions - and to track down Mr Perry. Those two is a big chunk to add to the rest of us PI's and could be a game changer. A small 4100-200 raise to keep this ticking over while the debt solution mention in the RNS from Dec/Jan could be a way - our only way - out of the clutches of AAL and the administrator.
Maybe we have a fighting chance, but it'll be self help as we've been abandoned by the BOD. ****s.
and PELHAM CAPITAL LTD on 5.04%
On the new shares, if my maths are correct that still would be around a 194k loss.
Info also gleaned (equity only):
Jupiter biggest holder sat at 7.79%
Norges Only 2.23%
Quatar on 3.28%
And the mystery man i asked about on the 15th: Mr Perry Morgan 1.36% ??
Haven't seen a 8.3 from CF, is he exempt?? Has over 1% but are directors exempt? (notified on Bid RNS??) or the fact he has made an irrevocable agreement a factor?
RedbullRJ - I am too thinking they know some information not known to us yet, unless its just a gamble? worst case scenario they get 5.5p and loose out slight from their purchase at 5.54p
I have trawled through all the 8.3 forms from the 9th to today looking at the share holdings . From what I have seen, no one has substantially reduced their holding on an 8.3 other than a slight drop by Black Rock, who notified after 14th that 2.7% dropped over two day to 2.65% now.
What is interesting is Polygon Global Partners (ironic name considering what is happening to us) have increased Cash-settled derivatives (a "long" rather than a "short" AFAIU) from 1.553% on 9th, to 6.992 notified today. Does anyone have any theories why they may have just spent £21 million on Sirius?? And why derivatives not just straight shares?? That seems like a risky punt if this really could end up in admin? Or do they know something/ have a plan/agreement?