RE: Jupiter further reduces short3 Mar 2022 12:18
Beinthelead...TR1s don't have to be issued until 3% holding is breached and if a company has placed their purchase with a third party many don't issue their TR1 until the order is filled in full which could be much higher than 3%. We are never told how long it takes to fill such orders just the date the threshold was crossed.
3% represents 7,620,000 shares and at around 0.45 that's roughly £3.5m so it's quite feasible there has been one or more buyers at under 3% levels...
Sure it's a guessing game but could certainly help explain why the SP has been falling more than might have been anticipated around the relatively small Jupiter close outs.