RE: Subscribe to the capital5 Dec 2024 07:17
@Daviddavid – DYOR, but perhaps PIF are happy with their current AML average?
My calculations below put the PIF AML average at either £1.36 or £1.72 (subject to Lucid deal).
Again, DYOR, but even if PIF bought 50m shares @ £1, these averages would ‘only’ drop to £1.28/£1.56.
Note how adding 10m shares @ £3.71 ‘only’ increased their AML average by £0.16 (£1.48 to £1.64).
Hope that helps, cheers, Paul. :)
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Public Investment Fund
09/09/22 – Initial Investment - 23,291,902 shares @ £3.35 = £78,027,872 cost
28/09/22 – 4:1 RI - 93,167,608 shares @ £1.03 = £95,962,636 cost
28/09/22 - RI Rump – 14,000,000 shares @ £1.32 = £18,480,000 cost
Total 2022 = 130,459,510 shares - Total Cost £192,470,508 - Avg. £1.48
01/08/23 – Cash Raise – 10,044,750 shares @ £3.71 = £37,266,023 cost
Total Aug.23 = 141,504,260 shares - Total Cost £229,736,530 - Avg. £1.64
There are two ways of accounting for the Nov.23 Lucid deal:
Option 1 - Cash paid for shares by Lucid/PIF
02/11/23 – 28,352,273 shares @ £0 = £0 cost
Total 2023 = 168,856,533 shares - Total Cost £229,736,530 - Avg. £1.36
Option 2 – Value of Lucid shares at opening SP price on day of admission
06/11/23 – 28,352,273 shares @ £2.16 = £61,240,910 cost/value
Total 2023 = 168,856,533 shares - Total Cost £290,977,440 - Avg. £1.72