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@antonvb: Thanks for that. I now see the updated sheet! If you look at the first page you will see it does not report any positions less than 0.5%. So, while the reporting requirement threshold did indeed reduce to 0.1%, the FCA are not reporting on lower amounts! It looks like the 0.49% on 25/2 was their last position, reduced from the January '21 position of 0.69%.
@Joek1: The threshold for reporting shorts is 0.1%. My assumption is that as they were showing a short of 0.49% and are no longer showing any short position they have dropped under the 0.1%. The spreadsheet I got from the FCA website was for the 26.02.2021. I've found that sometimes when downloading it from Chrome and IE it shows me a previously downloaded version instead of the latest version and I have to clear my cache to get the latest version.
On 6 January 2021, the Treasury published the Short Selling (Notification Thresholds) Regulations 2021 No. 5 (the Regulations) to amend the notification threshold under Article 5(2) of the Short Selling Regulation from 0.2% to 0.1% of the issued share capital of an issuer. This change comes into force on 1 February 2021.
@Antonvb, I had looked at the FCA website: https://www.fca.org.uk/markets/short-selling/notification-and-disclosure-net-short-positions . They did not update for 25/2 (and have not yet). However, the Shorttracker site shows Key Group at 25/2 with a position of 0.49% i.e. just below the 0.5%. I don't know where they got their data (without the FCA site being updated) but I went by what they were showing and, in their picture, they removed Key Group because it went below 0.5%. I'd be delighted to receive better intel, if you have it, as I thought the FCA site was meant to be the Bible on this.
@Joek1 I don't think that is correct. The FCA reporting threshold is 0.1%. Key where reporting a short of 0.49% as of the 25/02/2025 and as of Friday last week are no longer reporting a short position. So they have reduced by at least 0.39%.
They will keep the sp down by shorting and going long, profiting with longs while holding the share price down for as long as they can while only positives like rise in OP, rating, RNS regarding decent profits quarterly/ half year or full year will push this price up, when it gets to certain price they will leave covering the losses from short position because they were averaging up while buying long positions too.
Makes no sense to me. How can they keep the SP low with shorts while making huge gains with a long ? Surely it’s one or the other.......
Sorry my mistake, not the bonds it was the loan the Pictet were involved in, so even they shorted at quite low price their going to average up so they cover their losses, but at the same time these sewer rats have long positions too so their milking both ways, so hold short position to keep sp low while keep making huge gains by going long, but it depends upto them how long their going to carry on milking this, but as tlw’s in high debt their going to take advantage till they’ve had enough and decide to move onto their next prey.
@Bashrisks....but surely a bond has a ceiling price so there is a finite gain while for a short there is potential for an infinite loss. So at some point they'll have to close as not much room for the bonds to increase now and the sky's the limit for Tullow now.
Pictet won’t be leaving any time soon as it was mentioned in a article few months back their tlw bond holders and their holding short position as a hedge.
While the overall picture looks like a bigger fall, Key Group short went from 0.69 to 0.49, a reduction of only 2.8m shares. The list of those with 0.5% or more reduced by the full value of their 0.69% (prior to the reduction), making it look like a fall of c10m shares. The last Key Group short change was on 4 January 2021, when the SP closed at 28.79, and that was a reduction of 1.4m shares.
Key Group reduced by 0.30% yesterday, looks like Odey and Pictet are averaging up their shorts and are here for the long game.
GL to them, their going to need it
Hi all LTH, I don’t normally comment but I read every comment but lovely day to get the highest hurdle out of the way today and only one way for the share price to go as we see the sewer rats in rear view mirror. I can see this >50p next week as today was end of month sell off day and general market slump.
HOLD Extra tight next week as this will rise, GL ALL
Anton, nice to see Tlw off the top 5 shorted stocks
Also looks like Key Group Holdings (Cayman), Ltd. reduced their short to under the reporting threshold... so only Vaede, Pictet, Whitebox and Odey left...
16:39:04 44.19 1,284,051 567.42k O
16:38:53 44.19 1,200,000 530.28k O