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Looks like Nutmeg was/is right. This is from the other board. He reckons the buyer is up to roughly 4.5m and goes on: '....Resistance - you were right: The seller over the past week and a half was a forced seller. He completed yesterday. Today, there has been a one-off institution-to-institution cross of 1.6m (visible on some services like Bloomberg already, but probably won't appear on others until after the close), where the price - despite these terrible market conditions - was not at any discount, rather comfortably inside the current spread. That is because the buyer, who has been taken all of the roughly 4.5m shares that have traded in blocks over the last couple of weeks, continues to bid for shares, even though sellers are starting to dry up. Let's hope this continues next week to the point where the buyer eventually has to begin to pay up and/or he crosses the 3% threshold and has to disclose......'
No it's not. Guyana and Alaska have been joint-lead focused for new 'elephant' O&G exploration, almost exclusively versus any other regions on earth, for almost a decade. Meantime, despite Guyana's attractions, s*cks to be ECO or TLW.
I'm surprised this hasn't been more widely disseminated: the huge jump in volume in conjunction with the fall today is completely consistent with PANR's ejection from an MSCI UK small cap index and addition to the relevant micro-cap index. I couldn't be bothered to find out the precise name of each, etc, as I suppose I didn't think it would have this much of an impact, but it has and the impact should end on the COB today. Some decent portion of today's fall should reverse tomorrow.
Ok, how about 'moron'? The 'discount' you're referring to is the 'discount' of the placement price of 17p - which is the same price for EVERYONE - to today's closing price of 18.2p. When you write 'offered DISCOUNTED shares via Primary Bid, no thanks....', the only possible relevant meaning is that primary bid was worried about shifting their entire allocation because of weak demand and thus you were offered shares below 17p. You were obviously not, so you are either a liar or the other thing the first amendment protects me in describing you. Go nuts
Ooooh, nasty lie. Primary bid was offered a small allotment out of courtesy. The deal was way oversubscribed by instos and high net worths and primary bid or any other retail-facing intermediary was neither sought nor needed. You were NOT offered anything at a discount, other than perhaps some advice from me: cancel your account.
Https://www.londonstockexchange.com/news-article/BVC/capital-markets-day-and-investor-presentation/15951098
This is meaningful as Moti understands the stakes AND the opportunity in showing, not telling, just how much value is imbedded here and how he can and will exploit it going forward:
Not at all, you don't sound stupid....answer is, yes of course. FOX is like any other share and will trade as such - including of course the opportunity to trade in and out of it intra-day - until around 24/5/6 May (again, I'm not quite sure when the very last trade date will fall to ensure a buyer will fall inside the 26 May record date deadline, so to be safe, check with your broker). Buying the shares AFTER this record date deadline will only mean that the buyer will no longer be eligible for their share of the segregated pool if the Company wins the litigation lottery.
Kenny - the answers provided were not quite correct. The original RNSs that came out regarding the reverse takeover of Eco Building had already made clear that should Fox-Eco win the litigation against the Kosovan government, any award would be segregated for legacy Fox Marble shareholders. However, since the EGM to approve the RTO and then convert FOX shares to new ECO shares will not occur until the end of May (and we therefore will continue to trade under the old FOX ticker until then), what today's announcement clarified was, essentially, that investors can still purchase FOX shares in the market anytime from now until the record date of 26 May and be eligible for their share of any litigation award as and when it may get paid. [Fwiw, 'record date', as the term suggests, is the date on which a buyer's can/is recorded as the beneficial owner of any shares they've purchased. Whereas other, related terms like 'trade date' (the date you actually buy them) and 'settlement date' (the date on which your shares land in your account and the cash needed to pay for them goes out) are straightforward, a share's 'record date' can be a bit kinky; ie., sometimes it falls the same day as the settlement date, sometimes a day before trade date and sometimes a couple days later. Therefore, unless they call your broker and find out for certain, it's probably fair to say that if a buyer wants to make sure that they qualify for a record date of 26 May at 6pm, they should buy them latest the 24th]. Given how much the share price bounced today, it's obvious that a lot of people mistakenly believed the 'record date' to own the shares with the litigation lottery ticket attached had already passed.
A quick addendum to Canary's post from Saturday re a 'buyer in the background'. Despite the admittedly tepid price action the last few days, there is a curiously firm book building just around/above the current bid of 25.25p. Aside from the 25k advertised on the order book strip, no fewer than 5 different brokers are advertising as buyers of 50k or more on the 'RSP'. While I admit that that's a total of not even 300k shares being bid for, which is just £75k in value, I also have to say that, after over 2 years of trading this share, I have never seen so many market makers with size of ANY description near or above the current bid. Said a different way, while a seller could probably let 1/2million go at or around 25p right now, the best offer in that kind of size is currently 28p. Just a small positive, but useful on a quiet day maybe.