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Not to worry get_rich_quick. TBH I think the chances are M&G probably are completely out by now. If we get some sort of financing lifeline tomorrow this could rise significantly. If we don't then it will probably drift further downwards.
Muldoon,
You are absolutely not being dense, and if anything, I must apologise, as I have become confused.
I could blame alcohol but I've somewhat of a hardened drinker and shouldn't have skim read it.
So, apologies all. The Rns does NOT say they are at 0%. That is completely my misreading and I apologise.
That said; normally when insti's drop below the 3% threshold, they normally sell every share, so I still expect this to come about.
I am sorry Muldoon.
Claza, It depends on the forward looking plan the company gives and whether the financing solution for their new strategy is through the disposal or raising short term cash. Good news will see us back to 0.6 minimum IMO.
M&G position is massively reduced ( maybe now 5% or 3% or 0%) but currently irrelevant given where we are, which is:
“ The Company is still assessing its future funding requirements should the Disposal not proceed to enable it to continue as a going concern beyond 31 July 2020 and will issue an updated trading statement in the last week of June 2020.”
Tex
Yes today's RNS doesn't change anything, it is outdated.
The facts are:
1. M&G reported on 24th June, it crossed 5% threshold on 23rd June, and
2. 5% means that M&G had left less than 190.5 million shares
3. Since 24th June (included) was traded almost 2.000 million FJET shares
...so more likely M&G is out because 5% shares were only 10% of shares since 23rd June.
This is my calculation everything are facts and math except, assumption that M&G wanted to sell the all remaining shares.
Pardon me if I am being dense, but I can't see any RNS backing up your "This recently disclosed Rns now says they have 0% holding" assertion get_rich_quick. What RNS are you looking at exactly ?
What sort of sp are you thinking it will multi bag to?
LOL seems some peeps can’t read an RNS or a date. Not sure why there is so much focus on M&G. This company is running out of cash, the only question is will they get a deal done to fund themselves Short term and execute their new strategy. They have two possibilities
1. Get the “disposal” done and dusted.
2. Find a new funding agreement to tide them by.
As the company has stated, cash runs out at the end of the month.
The current SP has priced the business to fail, therefore it we get the RNS that funding is secured then the SP will multi bag from here. This is the gamble, high risk and high reward.
Any other points of discussion are a distraction.
I hope for a Monday RNS as Friday ones aren’t always great!
Tex
Don’t agree, no RNS yet to say M&G are out - fact. We know they are under 5%...a good assumption can be that they are now near or under 3%..but until TR-1 it’s not a sure thing.
I appreciate concerns of dates but there is a threshold limit with regards to disclosure.
If you have x amount of shares, but you buy enough to increase your holding above 3%, you have to disclose this, and then every 1% increase thereafter.
It's the same in reverse.
The penultimate M&G Rns said they were below 5%.
If they had gone below 3% they could have held some and we would never have known, just as we don't know how many each of us hold, as most private investors hold below 3% of the shares in issue.
This recently disclosed Rns now says they have 0% holding, so as far as I'm concerned, regardless of poorly written timelines, they are out.
M&G have gone through a massive financial restructure, as I've looked deep into their company, which is why I've Harper on about them selling their entire holding.
The Sp has held incredibly well, in spite of all their shares flooding the market.
We can still expect volatile swings, but the depression of their shares hitting the market is over, and we've held our Sp, so I'm hopeful of our new base level.
Good evening all.
Get_rich_quick you say ", but I did mention an Rns wpuld be released confirming a 0% interest. Anyway - now it's out there and we know." So which RNS are you referring to ?
Get_rich_quick how do you know they are definitely out now ? Today's RNS was from 19 June saying they went from 13 to 12%.
Surely wrong RNS..
Mj,
They are definitely out now.
There is no doubt about it.
Amy-G18 I also feel there is another RNS to be released tomorrow morning but fingers crossed! Hopefully a good one for us.
Apologies, but I did mention an Rns wpuld be released confirming a 0% interest.
I'm a wise old man.
Anyway - not it's out there and we know.
Big mess up! There’s no update at all on the RNS section on the website either. So we shall have to see. But I reiterate my point on the last thread, Why did it jump on the bell? I have a feeling someone knows the real RNS and we’ll see a higher open.
That's correct. On 25th June was reported that on 23rd June M&G reported crossing 5%, so it was less then 190.05 million shares and from 24th June were traded around 2 billion shares... so M&G must be definitely out and many new investors took already new positions and only impatience investors are selling....
I topped up and under 0.15 and I am sure I will be between winners..
It looks like that was an RNS they forgot to release before the last two RNSs so they are just doing formalities. Well blame it on Covid. That’s what I see when going through the last three RNS
Same RNS shows on other platform advfn, so seems the people that issue RNS's messed up or some other reason....strange...if Zimbabwe are easing restrictions then this would include flights resuming so think all will turn out good here. Just need some positive news and the sp will shoot up imo. Could come anytime now
Very true that is dated 19 June when notified and there has been one where no notifiable interest below 5%. Then useless or may be they issued the wrong one meaning there is another one in the waiting. Tomorrow morning RNS then,. AIMO
A repeat of RNS on 19th June. Never seen that before. LSE ****up?
How strange! Looks like an old TR-1 to me. It’s dated before the other TR-1’s were announced. Pointless if you ask me!
The TR1 is from nearly 3 weeks ago. Totally irrelevant now.
How did M Ang G get back above 13%. They are trading price movement as well!
We got a RNS