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On the 29th of July, I posted up this discussion snippet:-
Anders_UK this morning posted this snippet as a general point:-
"Perhaps Spikeyj is Adam Dziubinski from JUB Captital who are rumoured to have a 10M open short. Why else would someone spend months bashing the share and then disappear the day after we resume trading."
And posted a link to the London stock exchange about the company, but what is more interesting is they only joined the LSE in January this year as a new member firm:-
https://www.londonstockexchange.com/information-sheet/jub-capital-management-llp/2020/002
And now from the 17th July immediate Suspension of Membership pending clarification of the firm's position:-
https://www.londonstockexchange.com/information-sheet/jub-capital-management-llp/2020/44
So only a member for six months and now suspended, have they been naughty :-)
the time frame is interesting to note...
They were only suspended from the LSE as a member, but still trading,
are you saying since then they have gone bankrupt?
And subsequently:-
They have been classed as a defaulter?
https://www.londonstockexchange.com/information-sheet/jub-capital-management-llp/2020/45
Oh, what sill boy's...
1. London Stock Exchange ("the Exchange") suspended the membership of Jub Capital Management LLP ("Jub Capital") on Friday 17 July 2020 pending clarification of the firm's financial position.
2. The Designated Members of Jub Capital have instructed Sterling Ford to take the necessary steps to place Jub Capital into Creditors' Voluntary Liquidation. The Designated Members have proposed that Philip Anthony Roberts of Sterling Ford be appointed as Liquidator to Jub Capital, this proposal is to be brought to a meeting of members to be convened for 7 August 2020. The Exchange has subsequently been in communication with Jub Capital and the proposed Liquidator with regard to the firm's unsettled on Exchange trades.
3. In light of the information now available, the Exchange considers that Jub Capital is unlikely to be able to fulfil its obligations in respect of its unsettled Exchange market contracts. Therefore, under rule D100 of the Rules of the London Stock Exchange ("the rules"), Jub Capital Management LLP has been declared a Defaulter on the Exchange at 11:00 on 31 July 2020.
Ceasing of settlement
4. Member firms should ensure that no further settlement of their on Exchange transactions with the defaulter takes place. This is to ensure that the unsettled transactions, which will be covered by the Exchange's default procedures, are not separately settled. These default procedures will apply regardless of any "match-delete" activity undertaken in CREST; that process may change the status of the trade in the settlement system but cannot validly deal with the underlying trade. Similarly, any purported agreement between the parties to treat any unsettled trades as cancelled is ineffective as far as trades included in the default proce
Thanks Ian....Appreciated.
I believe it was Anders_UK, who highlighted it.
Didn't someone here post recently that Jub Capitals short position with regards
to Eua amounted to approx 10,000,000 shares.
Does anyone know where this figure came from?
Cheers Guys.
Sharpeye, this,
For whats it's worth:-
JUB CAPITAL MANAGEMENT LLP - https://companycheck.co.uk/company/OC364744/JUB-CAPITAL-MANAGEMENT-LLP/financials
Currently:- ... Cash £67.8k, ... Net Worth £159.1k, ... Total Current Assets £221.8k, ... Total Current Liabilities £64.4k.
So if it is they who have to cough up and purchase the reputed 10,000,000 shares they may need a Loan or two..
My bad, Was Thursday 30th the default was dated for JUB
https://www.londonstockexchange.com/information-sheet/jub-capital-management-llp/2020/45
What was made public on Friday WeatherGeek?
It was* bloody auto correct
I was made public Friday, I'd say those involved will want it sorted pretty quickly..
Pure speculation but I wonder if HubCap’s position has had anything to do with HSBC’s EUA “sell only” policy since January 2020.
IMO they won't have long.
Lovely jubbly! (sorry, I'm sure that joke has been done to death).
I'll stop now and start my work.
Correct. But someone will have to close their positions, they can't just leave them open. Whomever they borrowed the shares from will want them back at some point lol.
If they have defaulted its probably because they can't close their positions.
I wonder if Jubs broker will want to cover their position today before next leg up, I would.