RE: Hello10 Mar 2021 17:27
These are subscription shares related to CCJI. On 16th February (RNS) existing share holders were given 1 CCJS share for every 5 CCJI share. This gives the holder the right but not the obligation to buy CCJI shares at 161p until 28th February 2023 (RNS), on a quarterly basis. So if an investor believes that sometime over the next 2 years the CCJI share price will be higher than 261 plus this price (so based on today's price 270 a 17% increase) then they will buy this. I'm guessing that some clever institutional investors will plug the numbers into a model and decide they are worth a punt. Holders like me may have to sell at some point before 2023 unless the sp rockets when it'll be good to cash in.
Of course, the AIs and technical traders probably won't know what they are buying.