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Got an RNS alert from Advfn showing M & G plc have reduced their holding further from 17.32% to 14.93%, threshold crossed 12/06/20. Strange this is not showing on here. I assume this is why the sp has been falling last couple of days. Wonder if they have finished selling or more to come....if they are selling...is another big player buying?
This is the million dollar question. we have to wait and see how it all pans out.
If there is a buyer, what are the rules with regards to them having to release an RNS declaring their buys? Does anyone know this?
Myk3,
When you say a "buyer" are you referring to a new insti investor?
If so, when any buyer (whether insti or private investor) crosses a certain threshold of shares bought (I believe the first stage is 3%) then their holdings has to be declared.
And then any further 1% increase has to be declared, which is the same as when any large investor sells.
It looks like M&G are going to sell their entire holding, and sadly with the late reporting of the Rns' all we can do is wait and see if any large trades go through (generally at the end of the day they get reported).
If M&G keep offloading their holding the Sp will fall below that of 0.1p.
It just depends whether the market can soak them up.
ATB.
May be this was the big news BigLnt said he knew but couldn't share....
Everyone shouldn't listen to Robin Hood investors spouting their knowledge.
Listen to yourself and decide on what you know, and all the best with any decision.
Ok thank for clearing that up.
I have a small holding here and share the opinion that M & G want out rather than down size their holding.
I guess like you have said, we will have to just wait and see what happens.
I'm only basing my lowly opinion that M&G will be looking to offload all of their holding due to the turbulent times they are currently going through with suspension of certain funds due to a cash crisis.
M&G need money, and may be they would rather invest in other companies that (possibly) offer stronger returns for their investors.
Fastjet is undoubtedly a risk, and M&G have gone through new management, and as with any new management, they clear out some dead wood.
I'm not sure what I would do if I was heavily invested here, as I've got my money back and have a free carry, and I would absolutely not encourage anyone to buy or sell in any share.
That said; I have the luxury of letting this company carry on without risking my money, and we all know how hard it is to earn it.
I still hope the Fastjet part sale and new flying routes will offer a bounce at these levels, and I fail to see how those 2 huge factors won't offer a return from this level but, if M&G are offloading all of their shares then the Sp will drop further.
And, to me, that is inevitable.
Good luck folks.
For me, the business is feasible and flights will continue as lockdown eases across the world and revenue will start coming back for FJet. The market cap is very low at these levels and should be much higher imo...Hard to say if M & G will keep selling or if they have stopped. Could also be bigger players are mopping up many of these shares whilst the sp is in the doldrums. At some point the sp will shoot back up imo as the market cap is looking unbelievably low.
Very good discussion without condescension. I would have thought that M&Gs departure is managed to some degree. If I have read it right an existing II would have to declare themselves after buying 1% of the shares.
Is it a reasonable assumption that if there is a declared buyer then the SP is likely to rise?
Vicjain,
If big players are buying a shed load of shares then they will have to release an Rns disclosing that holding.
Ronwin,
From my limited knowledge, a large investor doesn't have to declare until they reach a minimum amount, and I have always understood (through my experience) that the starting point is 3% and then every 1% increase thereafter.
Im certainly not saying you're wrong, and may be it's a case when I've experienced new large investors buying, that they bought x amount which meant it automatically took them to 3%.
I think until a new investor (if a large insti) is mopping up the new floating shares, then we have to presume they're not.
We can't guess someone is in the background buying, but we can make presumptions if large trades are going through.
It's going to be an interesting 6 weeks until the end of July, when all should be revealed how this company performs.
With a viable business and with the sp at such a low level, it is logical imo for other big players to increase their holdings and maybe for newer big players to build up a stake. Whether this will go lower and how low is debateable but the market cap is already way too low imo and at some point the sp will correct back up and to a much higher level. Any positive notifiable interest will surely boost the sp imo.
Thank you sir. It will interesting to see what happens.
Vicjain,
"it is logical imo for other big players to increase their holdings and maybe for newer big players to build up a stake".
And time will tell whether big players are buying shares, as once that 3% threshold is passed, they have to declare.
For the record; I hope there is someone buying as I'm invested and I want the share price to go up!
Anyway - I've bored this BB enough with my subjective views.
Over to the regulars now....