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if I've understood this correctly - and there's a good chance I haven't, we have an existing shareholder who's increased their holding via a short position, thus giving them more votes at the agm, whilst simultaneously protecting themselves against a drop in the sp. Or is it the other way round? i.e they've lent the stock.
Whatever it is, the other transaction is far more interesting. Who were the sellers and who who bought them? The absence of an announcement from CGP suggests it wasn't them selling, so who else has that number of shares and is happy to get rid of them at this critical juncture? Indeed, why would anyone sell at the moment? Could it have been Valuestone selling to Jiangxi? Or has BHP/NCM had enough?
It can't have been an accumulation of shares, over the past few weeks, as has been suggested, because there haven't been that many shares traded and you wouldn't see two single purchases. And it can't be anything to do with the placing as the price is wrong. Or is it a transfer between two related parties?
I must admit, I really don't understand this move. The timing seems extremely odd. Maybe we'll get some clarification this morning.
I am with you. Lost in what this all means despite some explanations in provided links by some users.
could be Solg themselves I think I read in one RNS that they would be able to sell or lend their shares in advance of getting them when Solgold and Cornerstone merge. They used an unusual word that ment they could sell a load before they got them. I didn’t really understand it because if a bid came in prior to the deal with cornerstone it everything is stopped the merger doesn’t go through
lost, we don't have that number of shares held in Treasury.
An investor enters into a short sale when they believe that the value of a security will decrease. They decide to sell the shares, however, they don't have any shares to sell so must borrow them from a broker and return them at some point. Because they never own the shares they are never the holder of record and will not have voting rights.
Voting rights always remain with the owner of the shares. This is either the original investor that bought them or the investor that buys them in the open market when the shares are sold in the open market during a short sale, which is agreed upon when opening a margin account.
Voting rights always remain with the owner of the shares.
RK, what's your take on the situation, specifically the share purchase?
Solgold has not been shorted, currently 228 UK listed companies that have short positions.
Solgold is not one of them.
You can check.
https://*********************/shortinteresttracker
Missing word *********************
Lol …. Glad you cleared that up
X*********************X
Remove the X's
Q, yes, I had a look as well and couldn't see any evidence of a short position. So what is the instrument referred to which increases their holding by 14.5m shares?
I'm tying myself in knots on this one.
Quady
Try putting a gap between each letter
Atb
REPO maybe?
Simples...why does anyone buy 42 million shares at 19.20...18% above what they could have paid 10 days ago...?
1 Because they are certain something is going to happen soon
2 Because for that size at that time there weren't enough people prepared to sell...except at a premium price and
3 Unless it's an incredibly ballsy private investor, it has to be an entity building or increasing their stake...
And when you look at...
Ingo, Ayten, Darryl, Jason, Lisa, Keith, Kevin, Elodie all going
Shut down of all activities and no PFS2 or Porvenir PEA, plus a merger with a company who detested you less than two years ago and the import of two of their key players onto the Board plus
Maxit advising both and their owner making a considered highly inflammatory and unprofessional statement to the press deliberately designed to anger our two biggest shareholders
The biggest, state owned, copper company buying shares and a subsidiary of one of the worlds biggest corporations (Mitsui/Sumitomo) desperate for a stake in Cascabel...
And finally somebody incredibly well informed buying shares NOW...you come to a simple conclusion...
So let the takeover war start...
RED, that is not the rule, voting rights are actually a grey area
https://www.icmagroup.org/market-practice-and-regulatory-policy/repo-and-collateral-markets/icma-ercc-publications/frequently-asked-questions-on-repo/23-who-can-exercise-the-voting-rights-and-corporate-actions-attached-to-equity-and-corporate-bonds-being-used-as-collateral-in-a-repo/#:~:text=During%20the%20life%20of%20a,ownership%20may%20include%20voting%20rights.
Morning addicknt, the large amount of shares that showed up yesterday, seem to be many trades that have been made over a period of time off book.
This type of activity occurs when someone wants to build a position, but doesn't want to affect the price.
Eventually it has to go on book.
Which is what I believed happened yesterday.
Maybe because shares were being borrowed and eventually enough sellers were found to fill the order.
I have never found a way of tracking this activity, so if anyone knows how to do this, you certainly have my gratitude.
This is probably someone else entering the game, as it's a large number and if one of the main players it may have passed a threshold requiring an RNS and I feel we would have had one by now.
Yes, obviously I'm completely onside with all of that, but this was not a market accumulation so must have been a single seller and yet we've seen no evidence of that in the trades. And the markets reaction is certainly counter-intuitive.
Incredible. This is red's rampiest effort yet. Unbelievable stuff. I know he has me blocked, but will someone as how much more buying he will be doing today? Because if this level of confidence is genuine he will be selling other holdings to buy here.
I think they are rolled up trades, as trade not contributing too. Is a series of rolled up trades.
Q, I understand what you're saying, but I don't think that's what's happened. They would not have been able to buy all those shares at the exact price of 19.20 from multiple sellers and you can't apply an average price when reporting.
I think the truth is none of us has got a scoobie and it's unlikely we'll ever be enlightened.
Just chucking ideas out there addicknt.
I am unsure, but I have been following buys and sells for the last month and when more have been bought and share price has fallen.
One of the reasons maybe off book buying.
But I agree the numbers are too big.
On reporting the average, I believe you are correct, and like you I don't see how you could pay an agreed price even with DMA and not see it show up unless an actual trade in real time.