A very quiet Summer for Foxtons......Part 327 Aug 2024 11:43
It seems to me and judging by the rest of the market that the purchase of 15,700,000 shares of Foxtons by Martin Currie Investment Management (MCIM) announced last week has gone rather unnoticed, coincidence or by design ??
Let's look a bit closer at the details.
The RNS printed was on the 21st August 2024 after the deal was supposedly completed on the 14th August 2024.
Hmmmm, so that's an RNS in the middle of August and in the height of the Summer holiday season when everyone is away from their desks and on holiday when the transaction was completed a week ago.
Now take a look at the RNS again and scroll down to where it states that the place of the transaction took place. It doesn't take a genius to know that MCIM Edinburgh is based in Scotland but the 'place of completion ' states it was done in Fort Lauderdale USA !!!
What is the connection between MCIM and Fort Lauderdale I hear you ask, well it's Franklin Resources, an American multinational company and with MCIM comes under the umbrella company The Franklin Templeton Group.
https://markets.ft.com/data/equities/tearsheet/profile?s=FOXT:LSE