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Chantron
You are correct, it was an 8.3. But it is the Blackrock 8.3 RNS's that are released at 3.20pm like clockwork, and as you say there wasn't one yesterday, but there was a UBS 8.5 yesterday morning. It is easy enough to get the two mixed up as I did when I read your post.
Casper
""i cat wait to see the back of 8.5's and 8.3's.. there cant be that many left at wh smiths surely..""
Even when a sale is announced, these will still have to be issued every time there is a reporting requirement to do so.
Casper
Questions
1) What are 8.3 & 8.5 RNS's?
2) Who Issues them?
Answers
1) Reporting Requirements of the Takeover Code
2) The Stakeholder
To re-iterate:
The Company DOES NOT issue and "probably does not have" prior knowledge of when they are released/issued/reported.
Casper
Not a sign or conspiracy theory. BR have to report any transactions under the takeover code. If they haven't reported any then there haven't been any. This is an excerpt rom the Takeover Rules for reference. //www.thetakeoverpanel.org.uk/disclosure/rule-8-summary
Under Rule 8.3(b) of the Code, any person who is, or becomes, interested in 1% or more of
any class of relevant securities of the offeree company or of any securities exchange offeror
must make a Dealing Disclosure if the person deals in any relevant securities of the offeree
company or of any securities exchange offeror. A Dealing Disclosure must contain details of
the dealing concerned and of the person’s interests and short positions in, and rights to
subscribe for, any relevant securities of each of (i) the offeree company and (ii) any securities
exchange offeror(s), save to the extent that these details have previously been disclosed
under Rule 8. A Dealing Disclosure by a person to whom Rule 8.3(b) applies must be made
by no later than 3.30 pm (London time) on the business day following the date of the relevant dealing.
Casper
Remember that it is the stakeholder who issues the 8.3 RNS and Blackrock issue all of theirs at 3.20pm. (if you look at the LSE News releases it appears that each II has it's own slot - just observation)
Casper
RNS date doesn't have to be after 6 April for tax purposes, only the completion of the deal. If, (UK - only) the deal is announced before 5th April but doesn't complete until afterwards then those with a CGT liability might have the opportunity to use 2 years CGT allowances.
Casper
Just a quick recap about the above RNS's that are regularly released due to the reporting requirements of the London Stock Exchange whilst under a FSP.
1) These RNS's are released by the relevant Stakeholder and not the Company.
2) Form 8.3 is to advise of ANY transaction that involves a Stakeholder with a 1% or greater shareholding. Therefore, every transaction by Blackrock has to be reported. PI's appear to release these in the mornings around 9.00am and II in the afternoons around 3.30pm
3) Form 8.5 is to advise of ANY transaction that involves a Stakeholder with inside knowledge of the FSP in this case UBS. It doesn't matter what part of UBS or how large or small the transaction, they all have to be reported. These tend to be reported by the II around 11.00am.
The Company is unlikely to know about these transactions in advance and does not have any input into when the RNS 's are released.
Casper
It's not really an "early 8.3 RNS". These are lodged by the PI or II required to report them and so they can be at any time. PI's seem to come out earlier than the Institutions. What seems more interesting is that the PI has topped up by enough to have to report the holding. That comes across as very positive, or just taking advantage of the current SP. As Tilly/JTMac have been saying, there has definitely been some accumulation happening over the past couple of months.
Casper
Help from HMRC
https://www.gov.uk/capital-gains-tax/work-out-need-to-pay
Casper
The shares will only stop trading if they are suspended (which is unlikely but obviously a possibility). For reference have a look at a couple of shares that have had offers accepted recently such as Countrywide & William Hill. You will see that they are trading just below the agreed offer price. Also, you could look at Entain Plc (Previously GVC) which rejected an offer and the share price rose on that news. Once a deal has been agreed and voted on if applicable then there will be a timetable of events set out. You can choose to keep your shares until the deal completes or sell on the open market and get your funds sooner although slightly reduced. There are so many options that you really have to look into it in depth. Given where we are in the UK tax calendar, you might even choose to sell some before 5 April to mitigate/make use of any surplus allowances for CGT. As with anything, you should do as much research as possible to understand the whole picture.
Casper
Judge-mental
i don't have the data available to go back that far in looking at things. I am not disputing the fact that there may well have been a large accumulation at that time for Blackrock to purchase their shares. I am just saying that there isn't necessarily an ongoing accumulation at the moment and that I can identify the cumulative share trades for today.
casper
If you look at the most recent share trades, you will see that an unknown has just gone through time stamped 10.37am for 299,057. Because it is a late declared trade, the algorithm has classified it as an unknown.
casper