Member Info for Auson

Hello Pokerchips,
As far as I am aware if an institution holds a stock and also has a derivative instrument short on the stock they would not have to disclose a net short position to the FCA as they would be net long. I don't doubt any of what you are saying but we are talking about actual net short positions and stock out on loan not CFDs. Of course the party on the other end of the CFD might want to hedge the risk they have sold and take out an actual short, where they would sell the stock.
Just my thoughts.

Davebt196,

You have just illustrated the point, if you were say a pension fund holding PFC at a loss with no dividend, you can lend your shares out for a fee for the shorters to do with as they please. ie sell. It gets worse, they also offer free research stories to the press and financial papers to 'talk their book' and spook people into selling.
Regarding shorters holding shares as well as a short position the answer is no, Shorttracker shows the NET short position and only above 0.5%. The total stock out on loan here was over 12% at the end of March and I think it was only about 3.7% of that was net over 0.5% threshold.

MaverickD,

The 550k could also have been a buy, after hours anything under the 65.3p U/T price will be marked as a sell.

Hello Dark_Knight2020,

Yes thats exactly it, you borrow say 500,000 petrofac shares from either an institutional holder or Nominee Broker ( holding our shares ! ) They will lend them for a fee lets say 3.5%, there is no divi so why not make a return on a Petrofac holding. The shorter can then sell to the market, either in a big lump or in little tiny AT paper cut algo trades.
Drop the share price then buy them back cheaper.. theres your profit.
Of course you can also have short derivatives like CFDs as well.

NigeCo,

The different times is a bit weird, I'm thinking they have been manually entered by a Market Maker. Not ad a cancelation or - trade amount so I am wondering if it is two trades split with the second one being matched to a seller/ buyer.
Shorts closing or could Sorrell have finally put his hand in his pocket ?

NigeCo,

I think its the same trade. A buyer matched with a seller, we might see a cancellation after hours if I am right.
I suspect it will be a short buying some of the last bits from the seller (s)
I believe the selling is nearly done we will just have to wait a bit longer to see.
13.04.23 14:20:00 156.10 GBX 1,462,048 2,282,256.93 Off-Book TNCP ECHO XOFF
13.04.23 14:42:39 156.10 GBX 1,462,048 2,282,256.93 Off-Book TNCP LRGS ECHO XOFF
13.04.23 14:41:07 156.10 GBX 1,462,048 2,282,256.93 Off-Book TNCP LRGS ECHO XOFF

3.3% reduction typo. So a max of only 0.93% of that is on shorttracker

Euroclear showing stock on loan reduction from 15.55% end Feb to 12.25% end March or 3% reduction by 31st March

SFOR slighltly increased from 2.95% end Feb to 3.03% end March

The stock out on loan on Euroclear for Petrofac was 15.5% at end Feb down from 15.7% at end Jan, 13.69% end Dec and up again from 7.19% end Oct.
So by my reckoning half the stock on loan is over a £1 the other half is around 83 -84p approx

redwineday,

My takeaway thought from what Wes said was that a competitor, WPP for example could buy one of the California AI companies lets say, but with close to 100,000 employees and non-integrated legacy agencies half of which aren't digital. SFOR would have first mover competitive advantage being much smaller, fully integrated and digital.

Thenorseman,

Great find, geopolitics be a changin.

redwineday,

It could end blue, but there is either a seller or more likely shorters trying to keep it down.
The question remains here is there much point still holding a short likely averaging 205 to 240 ?
I think shorting anything AI in the coming year/ years is not the position to be in.

Anyone recall what the major worry was with Deutsche Bank, way back when. Was it that they hold / have issued a lot of Eurobonds so are linked to the whole Euro Area Project.

pauldrayton,

Agree, its sentiment and expectation that drives share price. There are a few examples that spring to mind, PANR I think was over £1billion market cap at one point, GGP another got to over £1billion market cap. I watched the share price there trade between 1 and 2p ( it even went sub 1p for some time ) then on to a max of 36p. That Potash project in Yorkshire SXX another one market cap reached £1billion before any production what so ever.
The stage is set here and no one can time when the rise will happen.
This is why I think Rockhopper is more use to Navitas alive than dead. ISCID or not we can raise funds though equity and reserves based lending, also can't hurt to have a British company on board when developing hydrocarbons in British overseas territory.

LWHL,

Those who have the largest debts need low interest rates and high inflation. Who has the largest debt, well the US has over $31 Trillion !

LWHL,

The thesis for lower rates and more QE have never been stronger !

Which with a market cap of £181m you could argue is priced to fail.
I will just let that sink in if you don't think today is a Barclays buying opportunity.

I wonder if Harbour have got sellers remorse ?

Daikihaku1,

Navitas would have to know the arbitration result before its out, or gamble on the result. Surely much better to use other peoples money and our UK listing for funding ? In the mean time they can saddle us with some of their debt at 8% compound !