Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
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From Stockopedia.com
"Non Protected Portfolio - A non-protected portfolio transaction or a fully disclosed portfolio transaction. Normally a transaction of a number of stocks dealt with by one market maker at an agreed discount to the market price".
Note the "agreed discount to the market price" Why sell shares at an agreed discount?
Chris
Thats what I was getting at. A minority investor in CLP?...perhaps recycling the money they were paid back last year. Controlling party: Remo Zerbini
It would have been appropriate to say “An Idea Rumbles On” like 3.37%
RKB
The idea rumbles on......
Interesting stuff then, who would have thought mutual back scratching would be going on?
Obviously not me with CLP’s stellar performance of late
So how it works.
Well what you do is agree to sell up to €40,000 of ForCrowd shares and have an arrangement (a legal arrangement which has been approved by BoD and Nomad) that if you sell at a notional loss on what you yourself exchanged shares for (the 20% in ForCrowd, that is the 54,218,847 at a price of 0.3482p) and if you were only to achieve a selling price of say 0.25p then Clear Leisure will “make up” 90% of your loss.
So let us say you sell 1 million at 0.25p then you would receive £2,500 but this 1 million shares were issued at £3,482 so the gross loss is £982 and 90% of this is £883.80.
Now as you are going to be issued with new shares to make-up your loss then we have to decide on what price to issue the new shares at and let’s make it easy and issue them at Nominal Value of 0.25p. So for £883.80 you would give yourself 353,520.
It is not easy to work-out an exchange rate of €40,000 into GB £ and I think the current spot rate is 1.18 but I will use 1.20. So this would convert to about £33,333.
So he can sell £33,333 worth of shares up until 31st January 2020 which “if” all sold at 0.25p then he could sell about 13,333,200 and obviously receive £33,333 and the value he got them at was £46,426 so the paper gross loss he would “suffer” is about £13,093.20p and 90% of this is £11,783.88 and he would then be given about 4,713,553 replacement shares.
So on the above calculations he sells say 13,333,200 shares and gets back 4,713,553 and £33,333 cash the net effect is he will have technical only have reduced his holding by about 8,619,647. So really ForCrowd (in case you forgot the name) would have a revised holding of 45,559,200.
But I know you are thinking that he can’t sell all his shares at 0.25p but you would be wrong.
RKB
PS Now hypothetically let us assume that you had £33,333 to invest in Clear Leisure and you were able to buy in the Market at no more than say 0.25p (I can hear you say “impossible” is it?) But if you could then you would be able to buy 13,333,200 shares and then you would have or your “friends” would have 13,333,200 more shares.