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Doesn't look like people have got the message this time around which just plays into the hands of Labro as they can continue to pick up chunks cheaply. Maybe the next RNS (it must be them collecting) will prompt a bigger market response. Or the next sizeable trade. Either way, I believe that each trade they do will put a floor under this owing to the takeover rules so the risk is very low. Not sure what their highest purchase has been in the last 12 month (anyone?) but if yesterday's trade was theirs then that is 6.87p.
I just checked ISDX as at first I couldn't find Labro's trade but it was back on 30th Sep. Nothing much going through ISDX at all in the last week but probably worth keeping an eye on too.
Today's RNS refers to a trade Labro did on 30th Sep when they spent £11k on those 173,611. Quite probably it is them or their concert buddies buying further - in fact it almost definitely is. So they are taking up the slack they are allowed before having to go all-in for a takeover (if they do). A good thing is the rule on having to make a bid at the highest purchase price they've made in the last 12 months - that price is perhaps gradually rising. Well, I did say the placing being put in 'sticky hands' was a good thing, stickier the better.
You have to laugh. With Labro's tacit signal that they want to increase their stake further, somebody sells out at the first opportunity. This is the closest thing on AIM that you will get to a low risk investment (if you can call money placed on AIM 'investments').
If they want to buy all 22m shares then it should push the price to 10p plus easily.
Agreed. Buying in the market on 4/10. Yesterday's trade suggested that they were also doing so on 5/10. Can buy up to 21m and have only bought less than 2m. Green light to buy and if they do make an offer, they would have to offer at least the highest price they have bought for in the previous 12 months (off the top of my head!)
I expect another RNS following yesterday's large purchases. At what percentage holding will the BoD insist an offer is made.
Maybe this is it. Labro buying in the market place. Bid has jumped to 9p this AM. Time to be in here
The Concert Party may acquire up to a further 21,611,714 Ordinary Shares within a period of six months following Admission without triggering a requirement to make a mandatory offer under the Articles. If all such Ordinary Shares were acquired within such period by way of the acquisition of existing Ordinary Shares, the Concert Party would hold 158,469,748 Ordinary Shares representing 45.0%% of the Enlarged Share Capital and, if all Labro Warrants were exercised the Concert Party would hold 179,837,269 Ordinary Shares representing 48.2% of the resulting enlarged share capital.
That certainly was a whopper at the end today, needs monitoring to see if something concerted(!) happening. Not sure Labro and co have any Options, Oli. True they were mentioned in the placing RNS but the wording might mean calculating percentages before any other warrants or options taken - i.e. not necessarily theirs, perhaps Dekel's or someone's. Anyway, can't be bothered trying to research that, all i'm going to do is Hold and see what occurs. If we get taken over, I'll get the same price for my shares as Dekel and Linda will get, so let them worry about it. If we have to wait for the gold to start pouring and the Krygyz to start smeltering, so be it. Think I've got a few years in me yet. Thanks for kind words Oli, I'll stick around but there ain't a lot to post about on this share until Dekel or someone pulls their finger out.
Interesting....like yesterday hardly any trades and then some big ones. Maybe someone unloading stock...former chairman maybe....someone happy to buy the stock. Labro and Concert already have nearly 50% including warrants and options. If they are buying more in the market then they need to declare this.
Actually, the 70k trade was actually three different trades. So, after a slow couple of days we had four trades crammed into two and a half minutes just before the bell. Interesting. If there is a very positive RNS tomorrow I would have to say very suspicious as well.
Just before the bell. That's £118k. And at that price I don't see how it is a sell but heaven knows where they have managed to get that many shares from. Looks like there was another trade of 70k at 7p as well just after. Hmmmm. Moves afoot?
we still need your wise council here so please keep posting. I'm expecting a quiet winter however given all the business experience our new investors have I doubt Dekel will survive long if progress is not made. One question I had was what is the option price should the concert party choose to exercise their option for more shares?
You're working well and I have now passed the mantle of chief sharewatcher/investigator/co-ordinator over to you. You are now the man. The rest of us are probably going into winter hibernation now until May - it's such a short season on Chaarat.
Holdings following the placing should be as follows according to my calculations - circa 35% free float as things stand (this could change if further options are exercised) Labro + concert party - 38.9% China Nonferrous Metals - 6.4% Dekel Golan - 4.1% First State Stewart - 4% A Novak (Vetan Investments Limited) - 3% UBS Wealth Management - 2.99% Ruffer - 2.5% Christopher Palmer Tomkinson - 2.1% Linda Naylor - 0.3% Richard Rae - 0.1% Total - 64.39%
Following "project Stockholm" our company is controlled by - MARTIN ANDERSSON - aka Labro owns / runs Brunswick Group GERARD DE GEER aka Sarastro Group - he works for Brunswick MARTIN WIWEN-NILSSON - managing partner Brunswick DOMINIK DOLENC - "experienced investment professional" - & consultant to Brunswick rail WILLEM DE GEER - partner Brunswick Abingdon Trust - unsure of the beneficiary here but probably fits the above pattern! So when Chaarat announces "The incoming Chairman, taking a conservative view, deemed it appropriate that those parties should be considered as forming a concert party with Labo" conservative view...... they are beyond doubt a CONCERT party.
A few chunky transactions. Quite pleased the price has held considering the placing.
Possibly. But I suspect that those controlling this now are not going to be happy to just sit on their hands for years. At the very least this is going to put pressure on Dekel to get things moving. Otherwise he may find himself out of a job.
Well the build up of the stake by the concert party has been well documented and no-one can say they are building up a secret stash. Llabro now 31.7% Concert party 38.9% Possible maximum with extra share purchasing and exercising warrants, before triggering mandatory offer 48.2% ------------------------------- Think it's good news though that these are certainly sticky shares. There would be no point in acquiring more shares in this placing if they didn't want to hold them. So, reckon we have a fairly secure 'floor' to the share price. With Dekel and Co. holding another 8% - 10%, effectively we only have quite a small free float. If you were to include the other ii's China Non-Ferrous, etc. the free float must be well below 40%. However, without any sensational takeover news, we can all hanker down soon for the big winter sleep.
And now 6.88p! Maybe people are waking up to the fact that this is a probable takeover situation.
I think things may well kick off sooner than expected, although 2016 may be too soon. Interesting that a buy has just gone through at 6.5p - above the ask, although I always find the prices odd on CGH.
The Board believes this is best practice for corporate governance purposes so that there is no perception that Shares are being accumulated with the objective of acquiring the Company at a potentially depressed valuation and is a valuable protection for other shareholders of the Company. Covering its own arse following PROJECT STOCKHOLM
Back to normal here. I guess that's it for 2016 newsflow wise - unless CNMIM want to exercise their 15 day share option or IF our new holders want more shares this year (of the Concert Party may acquire up to a further 21,611,714 Ordinary Shares within 6 months) I noticed they changed the name of the attachment on the website - the "project Stockholm" has been removed!