At what price will this settle?7 Mar 2024 16:55
Huge spread so I'm guessing the market makers don't know where to set the price. Trading volumes are low which doesn't help. So far today it looks like there's been 161539 shares sold and 55025 bought out of 175684705 (using the most recent TLEI total voting rights. So not a lot of activity.
Analysing the TLEI I've built up this share register:
07/03/23 Credit Suisse Group AG 6.51% $11,437,074
20/03/23 Stichting Juridisch Eigendom Privium Sustainable Impact Fund 3.87% $6,798,998
13/12/22 Liontrust Asset Management Plc 4.99% $8,770,180
28/11/22 Secretary of State for Foreign, Commonwealth and Development Affairs 18.40% $32,321,892
23/11/22 Schroders Plc 5.90% $10,365,398
18/11/22 Thomas Ulf Michael Sieg 11.85% $20,818,638
18/11/22 ThomasLloyd Cleantech Infrastructure Fund SICAV 3.01% $5,288,110
18/11/22 BREVAN HOWARD INVESTMENT PRODUCTS LIMITED 16.91% $29,708,284
01/09/22 Charles Stanley Group Plc 4.33% $7,607,148
The question is what are these large institutional shareholders going to do. I assume that any transaction will be over the counter. My conclusion as usual is not to panic and hold. $0.50 NAV so maybe settle at a 20% discount, $0.40.