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I see the late shift were on last night - badgers with nothing better to do on a Friday night, sad really!
Also see a share profits article on bloe is our, can’t read it as I don’t subscribe. Anyone able to reveal the just of it?
https://resources.mitongroup.com/srp/lit/7Jdl5m/Manager-Commentary_LF-Miton-UK-Smaller-Companies-Fund_30-06-2019_US-Prof_UK-Prof.pdf
from mikeinvest on twitter.
I agree that it is frustrating but think that is a bit too strong....PH has over delivered on everything so far. There will be numerous components that are required to come together before news can be released. We as PIs will be the last to know. What fills me with confidence is the sp is just above the recent placing that numerous ii's took.
Its all about patience. News will come
Yes, continued Miton selling is an interesting one for debate. Will they continue to sell or have they taken some profit to satisfy some of the redemption's - who knows! From what they mentioned they would not have to disclose there position again - they are now under the 5% holding limit for a ucits scheme.....
Queried this with Block and Miton as it was bothering me and I just wanted clarity.
Block stated it was up to the investors and not up to the company.
Miton's response:
Thanks for your email. After the recent placing, Block Energy’s total issued share capital is 393,538,662 which is the denominator used for this TR1. As stated in the TR1, as at 16th July, Miton held 18,624,967 shares which equates to a 4.73% holding.
The 9.17% refers to the position of the previous TR1 notification which was submitted in June 2018.
As per the Disclosure and Transparency Rules Chapter 5, as a UCITS scheme Miton only has an obligation to make a notification on the crossing of 5%, 10% and any thresholds above 10%. In this instance, the 5% threshold was crossed and therefore a TR1 notification was submitted.
I hope this explanation will suffice, but happy to provide more detail if needed.
So there you have it.....
Of course there is risk Ryan but you could argue why did Amati take more in the placing? Their funds have far out performed miton.....does that suggest anything?
Anyway don’t invest what you can’t afford to loose and all that. I’m happy with my holding and the risks involved