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wthat's happening with these spikes without volumes?... Are they buying and selling under the counter?
I love the tweet from someone :
I’ve yet to see a less attractive business model...it’s designed to gain exposure to every investing risk in just one company????
Zimbabwe ?Oil prices?Weather?FX?African politics?debt?everything else?
https://www.proactiveinvestors.co.uk/companies/news/218943/fastjet-expecting-to-squeeze-out-small-underlying-profit-this-year-218943.html
" Looking good in today's rns"
you CANNOT be serious ?
I guess you must have skipped reading most of it
Fastjet revenues soar as passenger numbers take off
Looking good in today's rns.
This should reflect on the valve of the company and sp.
ANY ONE KNOW WHEN WOULD BE TRADE UPDATE FOR 2018
Anyone know why there's a spike in the share price today? I've confirmed this is real as it shows on the stock exchange website. Good news as it stands but would like to know a reason behind it.
Fossybeer
I prefer your option as opposed to mine!
I would say it is more likely that the loan companies can see that there is money in the bank in Zimbabwe, but due to the cash restrictions in that country they can't get at it to repay the loans. Hopefully the Zimbabwe Govt. will see that FJET is a good money earner for them and allow them to release the money to pay the loan companies.
Wing and a prayer, clearly it’s being looked at on a day to day basis.
The Company today announces that it has further extended the terms of its unsecured loan agreements with Annunaki Investments (Private Limited) ("Annunaki") and SSCG Africa Holdings ("SSCG") (the "Loan Agreements")
Surely a 3 month extension agreement would not be granted unless some positive strategy with a strong likelihood of success is convincing enough to persuade?
Simplex
‘This is because these terms refer to liquidity and not transactions.’
What on earth does that mean . I'm not being funny, you may have something to say to enlighten us. But that statement has no meaning at all on its own. I may be thick but isn’t liquidity quite closely tied to market activity in the share i.e transactions? I
Hi Fossie - every single trade recorded below the mid-price is recorded as sell... just check the transaction history.
Just stop looking at and analysing the buy and sell figures. They mean nothing. If you pay attention to them , they will convince you to buy or sell. This particular 'investment' has had many days of buys and many days of sells and many years of slow descent to the position it now rests, close to the seabed.
Thank you for your response but the original point of my post was that at the time of purchase the share price was 1.425p, the mid-point. The ask was 1.50, the bid was 1.35. However my transaction price was at 1.35 but was a buy, NOT a sell, so why is it recorded as such???
I explain this every few months, and I get ignored. The share quote has three prices: a bid, an ask, and a mid. Any transaction is always between the bid and ask, and always involves a buy and a sell in the normal sense of those words. However, in the sense here, if the transaction price is above the mid price, it is listed as a "BUY", and if it is below the mid-price it is listed as a "SELL". This is because these terms refer to liquidity and not transactions. If you are above the mid-price you are removing liquid stock and if you are below then you are adding liquid stock from the point of view of a market-maker. I know you will all ignore this post, and make up some crazy theory of your own, but I do live in hope that someone will actually listen. I will make the same post in three months, probably to the same people.
Only if you are willing to pay more than 1,5 pence for them.
WOULD SHARE PRICE GO UP ?
RNS Number : 5763R
Fastjet PLC
01 March 2019
1 March 2019
fastjet Plc
("fastjet" or the "Company" or the "Group")
Loan Extension
The Company today announces that it has extended the terms of its unsecured loan agreements with Annunaki Investments (Private Limited) ("Annunaki") and SSCG Africa Holdings ("SSCG") (the "Loan Agreements").
As announced by the Company on 5 June 2018, the Company entered into the Loan Agreements with Annunaki and SSCG in order to make available a portion of the Group's restricted cash held in Zimbabwe.
The Loan Agreements were made on commercial terms and allowed the Company to lend US$5 million cash from fastjet Zimbabwe limited ("fastjet Zimbabwe") to Annunaki in return for a US$2 million loan to fastjet from SSCG for general working capital purposes across the Group (the "Unsecured Loans"). The Unsecured Loans were repayable in December 2018.
The Company has been in discussions with Annunaki and SSCG and has agreed that the terms of the Unsecured Loans will be extended to 31 March 2019. The terms of the Loan Agreements will remain the same with the exception of the following changes:
· The loan amount from fastjet Zimbabwe to Annunaki has increased from US$5 million to US$7 million due to devaluation of the underlying currency; and
· During the term of the Loan Agreement with SSCG, SSCG shall have the option to convert the US$2 million repayment plus any outstanding interest into ordinary shares in the Company (subject always to the shareholders of the Company granting the directors sufficient authority to allot and issue such shares on a non-pre-emptive basis) (the "Option to Convert") either (i) upon the happening of an event of default under the Loan Agreements, or (ii) after 28 February 2019. Any ordinary shares in the Company issued pursuant to the Option to Convert shall be issued at the higher of:
o the volume weighted average price per ordinary share over the preceding 30 trading days on the London Stock Exchange ending on the date on which SSGC has given such written notice to convert; or
o at par value.
This announcement is released by fastjet and contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 (MAR), and is disclosed in accordance with the Company's obligations under Article 17 of MAR. This announcement is being made on behalf of the Company by Michael Muller, Chief Financial Officer of fastjet.
No i don’t, they are implementing what was stated in the RNS, I’m concerned that Mozambique is now a difficult trading area with the arrival of Mozambique Ethiopian Airline who have deeper pockets than ours.
No
Do you think this will have any effect on the sp?
Fastjet Mozambique and national airline LAM have concluded a code share agreement, which will see the two airlines cooperate on several routes across the country.
First to come into effect will be the Maputo to Beira route, where the codeshare arrangements commence on 25th of February.
This will be followed soon thereafter by operationalising the code share arrangements on the routes from Maputo to Tete and Quelimane, which will launch in March.
It is understood that this arrangement could be expanded to include further routes, aimed to stem the loss of market share to a newcomer in the Mozambiquean skies.
The arrival on the scene of Ethiopian Mozambique has clearly sped up the cooperation talk between Fastjet and LAM, which was first floated a year ago but little has happened until the new carrier took to the air.
I think I mentioned the pips analogy a while back when the now squeezed and dried husks were at a higher price than today. The oranges became Mandarins and then Clementine’s , and then Cherry oranges, and then pips . You can still squeeze a pip and what you’ve got left is a husk. A shell, a shell company. It’s a very sad story. I feel for participants in this adventure. More than feel, I know for I have been a character in other stories that have not ended well. There is a well established business in place whose function it is to encourage people to chase a ball rolling down a hill. A dog will do that all day long and love it. Dog? Isn’t that also a market term?