Member Info for chasf

The three of you are fruitbats

"You've repeated this a few times. What's the 'symbolism'"

Absurdity.

PME?

Someone was serious about hitting the bid later today: some chunky orders through the book.
It's the 30th all day tomorrow...

It was just the price array in the auction. For some reason the top prices sometimes swap sides in auction, which confuses sites that don't account for the auction period. In the low 0.5s it also doesn't take much to produce the %age change or difference needed to extend the auction. Maybe someone did that deliberately to provoke the red dot and cause excitement. Anyway there was more shuffling during the extension and the top prices changed again. I wasn't top of the heap this time, even though I guessed the auction price.

In this case, it was claimed that there was institutional support in some of the recent rounds, so you'd think they'd be keeping a close eye on it, given they're underwater (allowing for some trading meanwhile, if they're so inclined).

For the same reason, I didn't think it was a sell and buy-back because there's usually a spread attached to that (certainly when IG did mine for an ISA transfer), although it's usually tiny but enough to make some money. In other words, the prices would be at least slightly different (or quantities, similar). You can do a sell and buy-back in the book, without that, but then it would be an A trade. Still was staggering volume yesterday. Rags or riches (well, not so much riches since that last placing, but still)? Absolutely no idea. Ethiopia is GMT+3 so ... what? Later today? Tomorrow? Could be tomorrow even if it's done today but they want both to lodge the agreement with the govt and get the reaction before saying anything. Is the City leaky as usual? (I think there was a heads-up about the last placing but I misinterpreted it.) Ha ha! This isn't a share, it's a soap opera.

"It's only 2 months since the placing, are the people that stuck millions into this total mugs then?"

To be fair, on AIM, it has been known ...

It also makes sense for them to drop the price then to fill those large orders, because it's an MM trade, and the MMs make the spread, so they need to buy the shares to fill the order rather cheaper than the price they've agreed. (I'm assuming they hadn't got 80m just sitting there in a pool, ready to go, and even then those would have to have been bought earlier for less or there's no money in it.)

"FG, thanks for confirming and looking at several other trades in the same bid/offer price range seem to printed incorrectly?"

They aren't strictly incorrect because the underlying time-series data from the Exchange has no notion of "buy" or "sell" at all. In fact, it doesn't even include bid and ask prices at the time. Because investors like to see it, the various sites that display it make it up, by tracking bid and ask comparing the price with the prevailing price or the mid-point between bid and ask. If it's below that price it's marked as "sell"; if above, "buy"; if equal (on lse.co.uk) as "unknown". It's completely wrong for trades in the book on SETS (A trades) because those inherently are strict trades: the Exchange automatically matched an order on the bid with one on the ask, so it was a sell by one into a buy of another. Delayed trades make the buy/sell heuristic even worse, because the prices when it appears aren't relevant. For the 40m I went back to look at the prices at the time the order was placed, which is why I thought they were both likely to be buys, being just below the ask but somewhat above the bid at the time (and a large sell would have been priced much lower below the ask at the time, closer to the bid). It's a black art.

Given the value is exactly the same for both transactions, it could just be a straight swap of 40m via broker, although it looks as though they took it down for a little while to fill something.

"negotiated transaction subject to conditions other than the current market price flag" (they were flagged as PRIC)

two 40m buys 17 seconds apart, not surprised they were delayed reporting.

Also if they can have it done by tomorrow, best to do that in case there is some last minute fuss about the result by MoM. Or the MoM office computer's password is lost, or something.

Let's just hope no-one important gets food poisoning.

The last time (January) there was similar level of fussing and threats by MoM it was sorted out, with the current extension. The deadline of 30th is consistent with KEFI saying they'd get it signed in June, reiterated only last week, so to some extent, that part isn't completely unreasonable. Then I imagine it will start fussing about actually transferring money.

Assuming the Umbrella Agreement was signed, but MoM still wasn't happy with something, I imagine it would depend what the problem was. Hard to justify causing trouble for something relatively easy to repair, let alone something trivial.

I'm afraid the price would have been a touch higher if I hadn't done that. Oh well. I wanted to have a bit of a flutter at this level.

Yes (10m + 5m) twice. AIMX and ECHO/XOFF, and 2.25m just before that.

It's been a little while since I got the UT all to myself.