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Lovely - buy backs just keep coming
Another 100,000 for me down here. Thank you v much
Indications of interest received.
Probably they execute on a disposal in Q2.
I wonder how advanced the USA disposal is? This will propel the share price towards £1.50 on completion no matter what price they receive for this loss making part. Interesting times ahead - v bullish on this company
They can't simply bid their own shares up, as per the FCA rules, so they've taken when they can this week & that's fine by me. There has been a large buyer taking shares off a large seller most of the week, if that buyer wasn't taking 150-500k chunks (see delayed trades from Thursday, published midday yesterday) then FCH would have very likely bought back a lot more. Given the volume, I wouldn't be surprised to see some TR1's in the next few weeks.
Higher price needed to facilitate the buyback of 36m shares.
Thanks SC -some big 300K trades there and nice UT into close.
Nobody was taking their bids today at 48.5p so they has to up their buy price to 49p to get their fill. Excellent week with a rise of 13%, and with a mere 1.4% of the buyback completed - ~732k shares for £350k
And here come the buyers/buybacks, nice
Could be, I suspect the 4 largest shareholders who have held since IPO were instrumental in initiating the share buyback as they wouldn't want a low ball offer coming in when shares were at their lows. The buyback also serves to increase their ownership stakes, which would be further supplemented if they are adding shares as well...
36m shares to be cancelled in this programme AGM 11th May when additional authority will be tabled to buyback even more stock. Current market cap is £176.4m based on 360m shares at 49p. Cancelling 60m shares adds 20p to the price alone. US disposal imminent. Can’t see past this stock and it’s so under the radar.
ShearClass look at 23rd February RNS. There’s your buyer.
Again it's worth noting that there are at least two order book buyers here - FCH are placing bids on the book which are being filled by the seller, to the tune of 241k today. However there are other significant buyers taking blocks of 100k.
Once sellers are exhausted then the only way is up, and having additional large buyers is extremely helpful. Very interesting to watch it play out.
Loving this
Indeed, nice RNS, just goes to show and support how the mm's have a habit of reporting the large buys as sells, let the buyback continue and propel the share price to reflect the underlying value of the business which is substantially higher.
Looking v good
Much better -
Agree , just imagine how little free float will be left as authority to buyback 36 million shares will do wonders to the share price here.
I suspect T Rowe are the sellers, as they had been reducing their exposure to the UK for quite some time now. To get the best out of this investment I think you've got to take a 6-12 month view - i.e. give them time to buy the shares back and let the price squeeze higher. They have authority to buy back up to ~36m shares before the AGM in mid May, so it will be interesting to see how many they actually take out of circulation before then. The main takeaway is high volume = a good thing.
A little patience will be well rewarded
It makes sense to buy as many as possible before the US deal is announced.
Well well, nice 250K buy sneakily shown as a sell, offer gone up
Hopefully some of these larger trades are going to be bought back
Does the company have some timeframe by which to do these buybacks?
Hopefully breakthrough 50p today.