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There was huge sells on this stock yesterday over £1million I've been watching this carefully over the last couple of weeks. It looks like someone was loading up with a background seller hopefully this has cleared and the trajectory is upwards for all holders !!
I guess they can buy on the open market up to potentially 75% as someone else mentioned, a takeover is not out of the question
Thunder2040
At the moment they would have to offer the current one year high of 169p, however in June 2023 this will be sub 100p.
Guoco Group Limited have 57%, gets me thinking, how much to buy the other 43%? What sort of premium would they need to offer to get a take private away? Surely looking at a price north of £1. In reality I can't see it based on current circumstances, but who knows.
I could be wrong, but I think if someone want to offload a big chuck it sits there getting partially filled, once the whole lot has been completed it usually appears, but can take takes to clear the big ones. This is all just a guess in this scenario, but the take away point is that the majority shareholder sees value in this price range enough to have stepped in and bought more.
yes totally agree with you
still dont understand 820,000 shares bought
100,000 shares sold and price does not move
Interesting, they usually RNS when they have finished buying so could just have been a top up or soaking up from another II. Some decent activity here this morning on the book too, £300k buy just went through a short while ago. The structure of the business remains the same as pre covid, so I do think this is a very strong recovery play, granted has to weather the next year or so of recession, but balance sheet looked ok to me - and the gambling reform is apparently going to allow sports betting in casinos which I think will be a huge draw in London, as people watch live sport and bet on it.
I am pretty sure under 75 per cent
But I could be wrong
57% actually, I wondered is there a limit on what percentage they can own?
Hong Leong Company (Malaysia) Berhad with 47% of shares outstanding.
ah 70-60 backwardation
Aby1972 do you have a link?
something is going on with this price action
the main shareholder is looking to take it private
Any news out?
can someone explain all this 1 share purchase
Take over offers will happen long before any recovery I think interest rates will peak by February and then revert to a new normal low rate like we have had for last 12 years but this is my thinking.So I’m busy filling up my bottom draw and locking some money away in 3/5 saving bonds but just holding of at the minute.
and of course this could become a takeover target after the recovery
Hope so! I’m adding very cautiously
and it will last a long time. These will be half what they are now. But my godness they will recover to a quid!!!
I’ve also added. Very solid business here.
Well we have had a update on trading which seems ok as not another profit down grade apart from the usual inflation pressures.Now the energy bill was forecast to hit £46 mil now maybe 34mil . Uk Shares going to tread water or drift down some more but I’ve added some today the value of the casino business only must surly be on bidders radar at these levels
i dont understand big buys and the price does not move
We know they are going to make around £40m operating profit, according to last trading update. Not sure what that will look like as pretax profits? More important will be any forward looking comments and especially about the Grosvenor Casino's.
Would love it if 888 was to bid as doing nicely in there at the moment , but doubt that as they have just brought out William Hill, but thought this would be doing better then it is ? strange times.
The RNK share price has collapsed -90% in the past quarter of a century. One of the worst shares of all time. Time for an overseas bidder to jump in, break it up, and put shareholders out of their misery.