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Yin,
The fund are out. Plain as day. Read the recent RNS's
1.4 billion shares in issue means nothing, most shares with over a billion shares have spiked, risen multiple times.
EHGOS are out, says who? 151 million shares at end of Feb to 1,399,302,698 shares in issue in just 4 months and the fund is now prepared to sell at a loss after agreeing to converting recently at 0.4p.
The only thing PIs are getting excited about here is if EHGOS have finished converting expecting a spike. Well if there were only 151 million shares instead of now 1.4 billion, you might have been right.
I would imagine every chance.
Well - 2 very good RNS at the same time - which one for you!!!!!
Just imagine if they release details of another contract tomorrow...
I might get to break even after getting spiked at 0.48 , I was going to average down today, to late now unless we don't get a decent rise, but will wait till 9am and not get spiked for a 2nd time
Theres the confirmation weve been waiting for. Good luck for tomorrow and onwards and upwards from here. Hopefully alot of good news to come.
D O N E
1st showing EHGOS’s holding as of 19th June, the 2nd showing they have sold down to 5%, which is their lock-in level.
Boomage
2xRNS
https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/WDC/14125921.html
https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/WDC/14125933.html
19/06/19 Fund had 4.66% to 18.29%
25/06/19 Fund had 18.29% now 5.07%
I'd say that was confirmation they are out or at least not selling anymore.
Done?
Those selling now will be buying back shortly at a higher sp. A few days and a sentiment will change 180*
Seems like DS is intent on not releasing news and being controlled by the fund's actions. He needs to step up and give shareholders a clear picture of what happened yesterday, ow much time is left, he must have some sort of idea - 'within days' is looking like a daft statement to have RNSd, he just looks stupid now.
The need to do something to increase buy pressure. It feels like that the fund were supporting the SP and now gone it's drifting.
I wouldn't like to be DS going into the EGM with the price still in the 0.3s.
We will see shortly increased blue volume. After some research I' ve made recently I am sure about that. Market cap ridiculously low comparing to what we have here. Fund 99% is out after yesterday.
From 6 times the volumes yesterday to 3 small trades in the first hour.
Pretty obvious the market is holding off until a RNS or TR-1 lands.
Great analysis and well said
What percentage of shares are held by the directors. Would be good to know.
@skittish, great analysis, thanks. I hope you are wrong on the RNS though, we need clarification.
Last post didn't turn out correctly - this is the complete version...…
"Very interesting trades today.
More going on than is immediately apparent, I think.
We had two 155,000,000 trades at 09.47 at 0.3p and 0.302p when the bid to offer was .33p to .34p, so well under priced. This was followed by a 85,000,000 and 75,000,000 at 0.3p at 09.56 when the spread was 0.33p to 0.36p, again well under priced.
So as the fund bought at 0.4p, and supposedly will be compensated for the difference between that and around 0.34p, I can't see that they'd sell at a 10% loss.
The total number of trades is 465M, which just happens to be 33.3% of the total shares in issue. Or each trade is 11.1%.
A similar situation occurred on 9th May 2019 when there were 2 x 100,000,000 trades at 0.3p when the price was 0.37p/0.40p and 2 x 50,000,000 trades again at 0.3p when the price was 0.31p/0.36p.
Again that total just happened to be around one third of the shares in issue, and at the same significant undervalue - 0.3p.
Those transactions were never RNS'd, so we never knew who bought/sold.
To me todays transactions, and those of 9th May 2019 all look to be by the same party or parties.
On 13th May 2019 WDC RNS'd that it was to carry out an" investigation" of the shareholder register, so I suspect that DS and Co also didn't know who bought and sold around a third of the company at that time.
"The Company acknowledges that there have been considerable changes to the size and composition of the shareholder register over recent months and has requested a shareholder analysis to be undertaken. The Company will update the market and website once the results of this analysis are complete."
DS was doing a presentation this morning for AAOG at the "Oil Capital Conference" scheduled for 11.00am.
He was late.
Speculation - but late perhaps because some unknown parties had, again, just transferred one third of the company, and he was trying to find out who it was? So desperate to find out that he was late for his own presentation.
If the fund was indeed out, I think we'd see a natural rise to around 0.5p. We haven't and their modus is to sell in 1/2.5/5/10 million blocks. I suspect they still have quite a few to go - but am not certain as we're awaiting RNS's from them also!
So who is buying/selling 11.1% chunks of the company? I'm sure DS would like to know, but it does suggest WDC has caught the eye of a serious predator - and one who doesn't play by the established rules.
RNS due? I won't hold my breath, just yet."
Very interesting trades today.
More going on than is immediately apparent, I think.
We had two 155,000,000 trades at 09.47 at 0.3p and 0.302p when the bid to offer was .33p to .34p, so well under priced. This was followed by a 85,000,000 and 75,000,000 at 0.3p at 09.56 when the spread was 0.33p to 0.36p, again well under priced.
I think we are likely to see a RNS about Holdings at some point, someone will be hoovering these up.
Observation: Some of these mornings buyers are already selling out for a loss. ...sigh!
“Re rate”