Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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I believe the shareholder needs to inform the company within 3 working days of the transaction; the company then issues an RNS. But anyway, we're obviously well past the deadline...
As regards the next update, my feeling is (and it may be wishful thinking!) end May/early June, ie a full quarter after the last one, and close enough to the year end to give good visibility for the full year. This update seems critical to the SP - but aren't they all!
Good point Pianista - I remember. I also remember those large transaction blocks reported after hours and Gatemore declaring a reduction of 19.9M on the 1st April. Its odd that volume (>3%) has gone missing without a declaration by now that's all. Isnt there a timescale for reporting on AIM?
Another 3 months before the next Trading Update? I’d be surprised if we have to wait that long.
tep - reportable transactions not being reported seems to happen a lot these days (with companies generally). But in this case, we have it from the horse's mouth. Andy Brough definitely said 20m in the video - unless he was rounding up from say 17m, which would have been just under the threshold. If he did say something about Schroders' share transactions that was untrue or misleading, he'd potentially be in trouble with the FCA, and I don't think he'd take that risk.
Not sure of the schroder link either. It would be great if they were buying. But 20M would be a reportable amount. Lombard Odier were reported last to buy a major amount at 30M in early Jan north of 30p. I am aware Axa Framlington have been topping up for their UK smaller companies fund in late march. They now have 9.7M.
I am not expecting news on trading until July and September. Until then expect the share price to drift.
Yep, I had similar thoughts about sentiment. I was speaking to our DHL driver today and he was saying he's noticed a slight decline in the last couple of weeks in the volume of deliveries as things open up. Nothing major though. Can't find any official notification anywhere of schoders mystery buy... don't know what to make of that.
It was the fleet announcement, and the 20m purchase by Schroders, that attracted a stampede of buyers, many of whom seem to have been happy to take a quick 10% - 20% profit. What should get it back up to 35p - 40p, and keep it there, will be the next trading update, which can't be far off...
Not surprised to see a bit of sp drift since the highs after the fleet announcement. It will be interesting to see if there is any sentiment change as hopefully we get to normal and people get out to the shops and there may be a perceived reduction to on line transactions. Cheque book at the ready if the drift continues.