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"Pmo creditors 15% more or less, dont they have a fix period when they can not sell?"
I believe it's a sliding schedule based on the seniority (of the debt) and type of holder. They have published it if you want to look up the relevant documents.
"Harbour and Chrysloorhfhrr" why else would they want to do the resuce deal and remain listed, when they've not been listed before? Because it gives them an exit route. That's why.
As I mentioned, PMO1 is £150,000,000 the retail element of that has a much less control over lock-in. Although it was an ORB listed retail bond I think it's likely that lots of it's not in the hands of retail anymore. How they control that is difficlut to say, it turns on the deifnitions they've applied around "smaller" investors. How much and how holders are defined is unknown.
I haven't got the documents to hand, but you'd expect the lock-up to range from nothing to a 12 month period, that's why I said the selling might carry on for some time.
I don't think there's going to any shortage of shares available and you have to prepare for the possibility that permitted debt holders will make for the door if the income they've invested for has evaporated. In general, income investors are interested in oil companies for the dividend. However aspirational, I think after settling with PMO's credidors and stepping into rescue PMO's shareholders, it unlikely they will declare a dividend for 2021/22. If that's a case you have to expect them to move on.
I find it strange that shareholders wring their hands over shorts being 9% of the equity, don't think having an income seeking crowd having 15%, but with no income, wont cast a long shadow over the shareprice for a lenghty period.
Harbour and Chrysloorhfhrr will hold over 80% I do not think they will sell any of it.
Pmo creditors 15% more or less, dont they have a fix period when they can not sell?
Sub 10p coming I'm afraid
So even if that's the case Rockie, you haven't managed to explain why debt investors, looking for a coupon, would change their stripes.
We've already explored your psyche, so we know how you feel about conspiracy theories LOL
I actually do understand where your coming from, I just enjoy your daily rapid responses to any positivity put forward on this board when you have absolutely no interest here at all.
Perhaps you could explain why they didn't just buy the equity in the first place then, if that's what they wanted to hold?
We know the answer don't we, they bought debt for the income.
Yeah, better to be pessimistic than blindly opportunistic and not see the risks, or even undertstand they exist.
No way big city dev, your guess would be the most pessimistically possible outcome possible? Now that’s not like you old pal.
They all have differing lock-in periods, so it could go on for some time.
" Can it jump a lot after merge due to limited number trading shares?"
There could be limited lock-up for the holders of PMO1 (150million), lots of it isn't in the hands of retail, but you might expect private fixed interest investors who've ended up with equity (when they wanted debt) might head for the exit and sell.
How much that implies is anyone's guess. After a period on 6 months, then institutional fixed interest investors who've ended up with debt might start dumping.
They would have been in the debt for the coupon payment (and capital gains) I very much doubt this will have a dividend policy from day , so you might expect them to realise their capital (sell the equity) and look for another debt/fixed income instrument.
You might have very much the opposite of a small amout of liquidity, you might have a flood of it.
Usual laws of supply and demand will of course apply.
You might also have PE holders selling as they now have route out. An exit.
That would be my guess.
We know that most of PMO shares are in stakeholders, creditors hands, short etc.
So shares available to buy and sell on the market are small percentage of current PMO 926mln shares.
Newco will also have 95% shares in stakeholders hands again... and from rest 5% - just small amount is traded as per above.
What does that mean for SP? Can it jump a lot after merge due to limited number trading shares?