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Sorry I didnt actually answer your Question :
what I'm trying to understand is have 9% of shares in HMSO been sold or have 5% of shares been sold.
The synthetic part just kind of disappears, the trade is ripped up (so to speak). It was only reported because it gave MS voting rights. But behind that equity swap is a whole load of other things hedging it. Repos' stock loans, `CFD's Options blah blah blah... which just gets diluted into the financial markets on a daily basis.
Thats the way I read it.
Sorry Ximtwo. I meant to post this. https://www.hedgeweek.com/2005/09/08/equity-swaps-alternative-trading-equities.
A bit of light reading on Equity Swaps :-) Part 2 give you an example. https://corporatefinanceinstitute.com/resources/knowledge/finance/equity-swap-contract/. or here https://finpricing.com/lib/EqSwap.html.
The RNS is about holdings/ Voting rights, so as you said MS would have held both physical stock and have synthetic exposure via the EqSwap. Now MS has ZERO. Blackrock on the other hand has 7%+ voting rights some via physical stock some via synthetic products. So someone will have to delta hedge that exposure.
There are loads of derivatives that give you exposure to a stock but not the voting rights hence they dont get reported so you only see the RNS when the total voting rights hits certain levels.
You are just over complicating it ximtwo, whatever you're trying to get at doesn't really matter. The whole point is that Morgan Stanley are out and have no controlling interest in this share anymore. That means no more needle moving actions being made to manipulate the share price down.
Filter bin for you.
Its clear as mud they have Zero left
Resulting situation on the date on which threshold was crossed or reached
0.000000
0.000000
0.000000
0
The Top Right boxes ximto show 0.000 and O. That means they are completely gone.
Confused or being deliberately obtuse?
Jabar just to put a little more context on what Daytrader17 is saying.
In recent weeks the share price got to 42p and 43p and MS started selling and imho (and many others opinion) they have been day trading and manipulating the share price for their own gain thereafter. Plenty RNS's above to show that.
Then on the run up to retail reopening on 12th April, hopefully permanently and irreversibly and with potential for revenues, profits and improved rents paid MS then sold down most of their holding and depressed the share price. The Times then at the weekend published an article on HMSO being in talks with Brookfield to sell 7 Retail Parks for £350 Million. Another positive article that would help transform the balance sheet. MS sold the remainder on Monday, hence todays RNS.
Yesterday though British Land expressed a desire that it wants to increase its exposure to retail parks (at a time we have 7 to sell)
Todays RNS shows that as of Monday they had nothing left and therefore the headwind or brakes we have previously seen at key times have been removed. "Seller gone as they say" and hopefully we can now make the lost ground on the sp that we should have got without the seller.
The one thing I will say is credit to them for they have announced that they now have a zero holding which they didn't need to do.
They already dumped their shares days ago hence the fall in sp and the sp has bounced back because there were buyers willing and able to scoop them up. Now we don't have an institution day trading at the expense of retail investors. It adds a little more stability to the share price.
Because there isn't an institution unloading millions of shares and depressing the share price.
Just a quick question, why would Morgan's Stanley exit be greeted with a higher share price now?
Have they closed a short?
Have they closed a short?
Excellent news.... The real Wolves of Wall Steet are no longer manipulating the stock.
However we still have a little Wolf in our midst.. Lol
Onwards and upwards... ;>)
Broken resistance level. Next stop 43.
I did suggest that might be the case yesterday. The bulk were sold prior to the Time article and with the remnants on Monday.
Headwind gone it should be nice to see where we settle given shops are now reopened and we are in talks with Brookfield to sell 7 retail parks, and British Land want more of the same.
Now the sp should head back towards years high in the absence of a 10% seller’s