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If Alice has been selling the remaining 1.8m shares there will not be much profit as the buying today was about 18p. On the 2.2 m sold earlier the profit will not have been much more than 4p giving a profit of about £90k. If TB had wanted to give FAB that amount it would be loose change for him so why bother with all the faf with the shares as it seems hardly worth the bother unless TB bought the shares and that is perhaps a tax efficient way for him to give FAB nearly £1m.
Anybody else have a better explanation for all the messing around. There must be a reason or else they would have kept for the big payday. TB may not be a director any more but he holds all the shares in FAB through his company, Free Publishing Ltd.
Iif you look up Free Association Books on Wikipedia you will find it is now owned by Free Publishing Ltd. Free Publishing Ltd is wholly owned by TB who is the only director. So TB, through Free Publishing , owns all the shares in FAB. Hope this clears it up once and for all
FABare probably selling at these prices because they never bought them TB did. May be his way of putting money into FAB. So the question is why did they not sell when it went to 40p? May be to do with CGT. Nobody knows except TB. He owns the company.
Free Publishing Ltd is 100% owned by TB. TB is the only shareholders and Director of Free Publishing Ltd.
Free Publishing Ltd owns 100% of the share in Free Associated books Ltd. TB is not now a director of FAB Ltd but he bought them 4m shares at 18p in the last share issue in BRH. If FAB is selling I would think a TR1 would be required as 4m shares is more than 3% of BRH. Since FAB is mainly Brown family members I assume the are waiting for the same big divi that TB is waiting for
TB bought 4m shares for the family at 18p. When TB resigned as a director of FAB Ltd I thought we would get a TR1 stating their holding as it was over 3%. TB may have resigned as a director of FAB Ltd but he still owns 100% of the shares in FAB through another company. Question is who controls a company the Directors or the shareholders.
So the executive directors pay out £1.1m into the company coffers to exercise their options on the first day that they can do so on 14th Oct. Trevor now has over 10m shares. They were good to pay 31.5p so why would the sp stay at 28p.Exec directors now ready to reap the big dividend not from Phasefocus in my opinion but the biggy with Paraytec.
Not surprised the sp has not moved as the 6 months profit is a bit smoke and mirrors due to the profit being possible only by the directors revaluation of assets by £3.2m. This profit will not be realised unless the assets are sold in line with the new revaluation. A bit Trevor like.