RNS22 Dec 2014 10:00
RNS:
James Latham announces that Northland Capital Partners Limited, the Company's broker, has arranged a placing ("the Placing") of the Company's shares held by Sir Robert McAlpine Enterprises Limited ("SRMEL"). Following the Placing, the Company has been notified by SRMEL that it is no longer a shareholder in James Latham. The shares were placed at £5.00 each with new and existing shareholders.
Commenting on the change in the share register, Peter Latham, Chairman of James Latham, said: "the McAlpine family has been a strong and valuable supporter of the Company over many years and in their place we are pleased to welcome a number of institutional investors onto the share register."
The Company has been notified that Meryl Bushell, a non-executive director of James Latham, purchased 5,000 shares in the Placing. Mrs Bushell now holds 9,400 ordinary shares of 25p each in the Company representing 0.05 per cent. of the total voting rights.
Wonder why the Sir Robert Mc.Alpine sold all of his holdings for 500p when the market price was around 580p on Friday?. The shares were taken up at that price it would seem, so I would have thought half of those trades showing as sells on Friday were infact buys, but seeing that the market price at the time was higher it would have registered as a sell. Hmm, strange.
What is also strange is that I can sell my small holding of 200 shares, now at 547p (up from 536p about 5 minutes ago), but I am unable to buy any at all!. Perhaps they are reserving buys for the big boys. Makes me wonder if something is going on in the background. Share price does seem to be recovering a little, wonder where it will be come day end?.
If there was something nasty afoot, you would think those who have bought RMcA shares wouldn't have been interested. I can see nothing obviously wrong from looking at the latest trading update. Perhaps it was a generous act on his behalf, season of good will and all that!. Well, matey boy, you could have thrown some at me!.
Good luck all, and lets hope for some more recovery by day end.
Regards
CM