Member Info for archways

When I was a stockbroker 20 years ago market makers would agree to put through a bed and breakfast or bed and isa deal at a realistic bid price and fix the offer price at one which would give them £25 to £50 to cover the cost and time involved in recording the deals. The offer price would not bear any particular relation to the actual offer price being quoted at that time - it could be quite a bit lower. If however the spread was very narrow realistic bid and offer prices would be used, and as a result the cost might well be less than £25 to £50.
Allowing for inflation I would not be surprised to find that if the actual spread is quite wide the market makers might set a realistic bid price and an offer price which would give them £50 to £75.

Hi again TomE.
Your latest post came while I was typing mine. Thanks for the phone number and email address.

Hi TomE.
The options were Investors Chronicle, ShareSoc, and Other. When their system wouldn't accept Other I tried to type something in there but it wouldn't accept anything. I entered a strong password and confirmed it, but it wouldn't accept them either. I will see tomorrow whether I can contact them by phone.

Hi TomE.
When I posted my response to your post at 16.31 I had not seen your second post at 16.38. In your second post I read about Investor's Champion which will give its opinion on whether Greatland qualifies for exemption from IHT. I have tried a few times to register on its site, but it is rejecting my answer of "Other" to the question "How did you hear about us" (or words to that effect), and also rejecting my password. Is anyone on this board an existing member of Investor's Champion?

Hi TomE.
Thank you for drawing Dewberry to my attention. They mention certain types of company which do not qualify for exemption, but these are not similar to Greatland's operations. I will consult them tomorrow to see whether they are aware of any rules which specify exactly which types are exempt from IHT and which are not, and I will report back. Some Greatland shareholders hold many millions of its shares and could well be interested in the answer.

Has anyone ever received a definitive answer from HMRC as to whether shares in Greatland held for more than two years are exempt from IHT. I have asked Barclays; searched the Gov.uk website; and spoken to the help line at Gov.uk, and my question remains unanswered. Alternatively has anyone ever read anything which sets out the rules - for example must Greatland be creating income before its shares can qualify for exemption?

rosso123 at 12.19 - no one seems to have replied to rosso's suggestion that the exercise price for the performance shares has perhaps not yet been worked out and will be announced later. No, the exercise price is the nominal value of the shares 0.1p per share (because shares cannot be issued at a lower price than their nominal value).

petersalkeld at 16.29 - no one seems to have replied to the question "does Greatland have to sell 5% of Havieron whatever the outcome of the negotiations?". No, if Newcrest does not exercise its option to buy the 5% once the fair market value has been decided then Greatland will not sell the 5%.

How many carats will Greatland's gold be?

Sorry - Terry played for Ireland, not Northern Ireland. He will never forgive me!

CJM -I wish you all the very best and hope that your aneurysm doesn't widen.
To everyone over the age of 65 - Terry Conroy (retired striker for Stoke City and Northern Ireland) suffered a burst aneurysm at a function about a mile away from our main hospital. Luckily a specialist at the hospital was at the function and he immediately realised that it was an AAA and he got Terry to the hospital and into the operating theatre in just a few minutes. Terry recovered and invited men to a talk in which he encouraged everyone to be checked for AAA, and he said that medical advice was that if the aorta was not bulging when you were 65 it would never bulge. I then attended a clinic for an ultrasound check which only took a few minutes, and the nurse confirmed there and then that my aorta was not bulging and I need not concern myself with the possibility of suffering from an AAA in the future.
I recommend that all men over 65 should arrange for a free ultrasound check.

Hi Jiffy.
Yes, I joined Sharesoc when they first became interested and I have kept up my membership.

A number of us used to be shareholders in Sirius.
There are two articles in today's Daily Mail:-
One says that Chris Fraser has been replaced as CEO by "trusted company man Tom McCulley who has spent years of overseeing the development of a huge copper mine in Peru".
The other says that Chris Fraser "has been shunted onto what are diplomatically described as strategic projects", and Anglo American's Accounts show that it has "written down the value of the Sirius assets by nearly £540 million".
We had high hopes of Sirius, but the management let us down and we are lucky to have found Greatland.

I pointed out on 25th July that whilst Gervais's holding had reduced from 74.5m to nil, that of Barclays Nominees had increased by just over 74.5m, so it was possible that he had transferred his holding into the name of Barclays Nominees and that he was still the beneficial owner of those 74.5m shares.
Could someone please keep an eye open for the next published list of major shareholdings. If Gervaise's holding is shown as 74.5m and Barclays Nominees holding has reduced by a similar number there is a strong possibility that Gervaise had moved his holding to Barclays Nominees and has recently moved it back into his own name. He had therefore neither sold nor bought back those shares.

Hydrogen - are you able at this stage to tell us the movement on short sales in each of the days 1st to 5th, 8th and 9th, 12th, and 15th to 18th November (he has already told us the 10th and 11th)? If so, can you do this please, and at the end of the month let us know the movements from today until then.
It will be interesting to see whether most, if not all, of the shorters have taken the opportunity to close their open positions by applying for new shares at 14.5p.

I only saw this RNs about 15 minutes ago, so I am late to the party. A few thoughts:-
There is no mention of a maximum amount to be raised, only a minimum.
There are three elements to this placing - Institutional, Directors and Officers, and PIs.
Applications need to be made by 9pm today - I think that this is a completely unreasonable and unnecessarily short timescale.
This is an excellent opportunity for any Institution which has shorted the shares to buy in at 14.5p per share and crystalize their profit. Any that have shorted the shares are being given a bonus by not having to buy them in the market at a higher price. Theoretically the whole minimum £7.4m could be used in this way.
The Directors and Officers will obviously be allotted all of the shares that they are entitled to apply for (£107,000).
The announcement about the Retail placing refers to certain retail investors - not all retail investors, but certain retail investors. I haven't noticed a definition of certain retail investors. Who are they, and why can some but not all retail investors apply for new shares?
I shall be interested to hear whether any PIs receive all of the shares that they applied for, whether any receive only part of their application, and whether any don't receive any part of their application.

Thanks notrader - that clarifies the position. Woodford would have been investing the public's money. Blackrock are probably in the same position.

StarBright at 15.19 - I have looked at the Companies House website and I find that on page 91 of Arix Bioscience's Audited Accounts for the year to 31st December 2020 it states that the Company is incorporated and domiciled in the UK, so it is not a non-UK issuer with a London listing.
Tomorrow I will ask Arix's Company Secretary to clarify the situation, and I will report back.

StarBright at 13.21 and Unimaginative at 14.18 - if you look at page 11 of the Arix Bioscience posts you will see the background. I asked why an RNS on 17th October 2019 showed that Woodford owned less than 5% when it looked as though they owned nothing, why didn't it say that they owned less than 3%? I received a message from the Arix management (the Company Secretary I think it was) to say that Woodford was an Investment Manager, therefore it only needed to report changes at 5%, 10%, 15% etc because Investment Managers were governed by EU regulations.
As I said, I was informed, and it was before Brexit.
Are you certain that Arix Bioscience was talking "rubbish/nonsense"?

Unimaginative at 12.24 - This may not be relevant since Brexit but I was informed in November 2019 that Investment Managers (such as Woodford) are covered by EU regulations and are only required to notify holdings if they pass through 5%, 10%, 15% etc.