RE: Sp12 Feb 2022 12:40
No need for all this panic imo.
If any member of the bod or pdmr was to buy/sell any shares, the market must be notified no matter how big or small the transaction.
For all other shareholders including ii’s etc they only need notify when their holding reaches, exceeds or falls below a given threshold, which are for example, 5%, 10%, 15%, 20% etc.
Schroders from what I’ve seen across a few shares are pretty good at notifying the market of any changes, even if they haven’t been obliged to do so.
So Schroders in pfc’s case have recently notified the market once their holding dropped from 16.952% to 14.686% (they were required to notify as they fell below 15%) and we’ve had no update since. So this means they are still above 10%.
But the thing that people seem to be forgetting is that there’s several large holders in pfc that own less than 5% of the company that could be selling large chunks without the need to update the market.
Take Vanguard for example, they had almost 12 mil shares in Dec 21, but that’s only 2.34% of the company, they could have easily offloaded 6mil of shares after seeing Schroders had reduced but yet we’d be non the wiser as they don’t need to update the market on this.
So everyone stop panicking, we can only go off the facts, which are what we get notified of in rns’s.
Someone’s buying up heaps of shares at the 1.15 mark which is evident as to why we’re not dropping below that even though there’s been some massive chunky sells throughout the last week. But until whoever is buying them up hits 5% we’ll likely never know who it is.
Have a good weekend all
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