The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Yes Badger thanks that is what I will be looking for.
V true levistubbs - you'll notice i said 'should' rather than 'will'. We've had 3%'ers come and go without TR-1's when you compare annual reports, readmission docs etc over the past couple of yrs for sure.
As JBBrown mentions, we've got the extra flag of RKH's FD disappearing off the UOG board when they are <10%. That'll trigger an RNS and a Companies House update.
Thanks Badger but do they always follow the rules? Thanks for the link as well.
Cheers Badger,
Correct. My calculation of 3million shares represents 0.5%. Rkh hold 18.49% of share capital so if they sell more than the 0.5%, then a TR1 must be sent to UOG within two days.
Hi Folks just edited my initial post here as GKB got there first with the extract ref RKH. I have a few of these below placing price following thorough research and based on the running room in Egypt and the Jamaica potential. So good news so far but I believe there is more to come. Who knows what true value of the Egypt PSA was in RKH thought process at the time. Won after auction process so price agreed and placing at 3p (deemed a success) at refloat dictated the number of shares in issue to them. In theory BL will know if they are selling but doubt he can do anything, RKH has a BoD member above 10% so a RNS about Director Changes will be a clue as will as the Badger points up any percentage drop in their holding. BL mentioned a European family office in one investor call (he seemed frustrated over the SP at that time too and I think it was above 6p); it would be good to know that they remain onside. DYOR and GLA.
levistubbs - the rules on TR1's are that when buying shares, the buyer should notify the market when they cross the 3% threshold and then every additional 1% thereafter. When selling the reverse applies - they should notify when they cross every 1% threshold downwards until they are <3%. So for RKH, the first notification threshold would be at 18% when selling and then every 1% until down to <3%
Caribbean why would they have had to issue a Tr1. Many sellers don't issue Tr1s until they drop below 3%?
I know a lot don't want to talk about the selling but the longer someone is keeping it down here against continued good news the greater the chance of us losing our investment on the cheap.
Great news today. Let's talk about that not the sellers..lol. onwards and upwards
I've been accumulating from 1.5p and will continue to buy upto 11.5p , the longer it takes to get there the more I'll accumulate. It's not rocket science I see this company 50p+ in time.
The seller isn’t RKH. They would have had to issue a TR1 within 2 days of disposing of 3million shares and change, representing 0.5% of the shares in issue, which would have pushed their holding to 17.99%. They haven’t done this.
The “sellers” are free-float traders. Some traders take bigger positions. But the only major shareholder outside of RKH are non free float shares and there have not been any notifications of acquisitions or disposals.
We can all see ghosts, but the devil needs you to find the detail. It’s all there to see.
jono agree with everything you say there. I'd like to know too. If it was Rkh I would find it difficult to believe Larkin did not know especially with one of their members on the board. It was 114m but I think it was just a typo and you can't edit these posts which is frustrating.
Levi it's frustrating and I know you been saying it for a while, everytime we get a bit if good news the price goes over 3p and then falls back with sellers quite happy to sell under 3p.
The placing wasn't 3p so can't see anyone that took part in the placing selling for under 3p but RKH did get over 14m shares and even tho it was qouted at 3p in reality it's whatever they are willing to sell for so IF they are able to sell they might let them go for whatever price they want.
But can they sell I'd like to know.
jono if you look at my posts on here I have been on about this for a long time. It is nothing new and has been going on in one form or another since the 5p raising days. I am not sure who it is but I am certain it is NOT small investors. Why would any small investor cash in on that news today in the amounts we are seeing. When the last news came out it was the same. I wasn't convinced with the RKH arguments made on here but the wording seems deliberately obscure in the RNS text and I have no idea who else could be selling this amount now.
Great news usual market response.
Who's selling.
Speculation that it's Rockhopper, but from rns
"Consideration Shares held by Rockhopper in United are subject to certain lock-up and orderly market disposal provisions for a period of up to 12 months from completion."
But can anybody shed light on what the "subject to certain lock-up and orderly market disposal provisions" actually means, is there a way round this, can they sell before 1st jan 2021.
Whoever is selling is holding this back and if it's not RKH then who?
Added more on this dip. It won’t be in the 2’s much longer....massive potential here and re rate on the cards. Patience will be rewarded
still offloading Rocky must have a lot left?