Member Info for Corryvreckan1

Tencent / Image Frame haven't changed their holding volume since IPO 3 years ago. The Novo placing on the 5th diluted them below the 7% reporting threshold. There have been a few of these now as expected - anyone in since IPO and not changing since have now been diluted over 15% in total.

They are a bit delayed with reporting this though, maybe got picked up during month end housekeeping, which happens quite often.

As you were, 'normal' service has been resumed :(

*sighs deeply and pours another whisky*

Ah, missed that one, thanks.

I'm not a member of linkedin so can't see anything to do with this on there, any chance you could post what the links say to clear this up? Cheers.

Just to add a couple of thoughts - those values that Mary has copied in from the stock exchange are actually the closing values last night rather than tonight. Those lists don't update the values until overnight, you will see them slightly different in the morning. Annoyingly, the share price change and % change at the end of each of those lines are today's values, so it's a bit inconsistent. [hehe - *waits to be proved wrong in the morning* eek!]

However, EZJ closed on around £3.68bn tonight so they are safe IMO. They have actually never been below the red line any day since Fri 30th Aug which is when last week's FTSE indicative list was based on!

Burberry are binned and yes it does look like Hiscox take their place by default rather than automatic promotion. I can't see any other changes in the 100. The official announcement is released tomorrow evening.

I am well aware of all of that, the problem is that many PIs are not. They then post the forecast dates on here as if they were fact, without substantiation and very often not even stating their source so that others can check it in it's original context. That leads to others being mislead.

For M&G, they have had their own indicative dates on their website for weeks yet dmax haven't updated theirs. They have trailed their reporting date as tomorrow for weeks, picked up across the financial media, and yet dmax are still today saying that the declaration will be on the 18th, for no other reason than because the results were on the 20th last year and this is a leap year. So they have ignored what the company themselves are saying, that's not helpful to their subscribers.

Copper is drifting back down because China is struggling, and yet...something's up?

I agree with your first paragraph, and the FCA approach addressed that for us in the way they prepared their Policy Statement.

So there is no urgency to change at this point and it will be a developing process as companies (and Sponsors) find the time and resources to address it, with a deadline set in the medium term for the laggards. It will be interesting to see who the first movers are, and when.

THG said in an RNS that they will “assess” transferring. I haven’t seen them state that they ‘will’ as soon as the rules are confirmed but it’s not a company I pay much attention to. The rules were confirmed by the FCA on 11th July and apply from 29th July onward; THG are maybe waiting on consultants to advise on the process.

The Morgan Lewis article states only one merit of the indices that I can see and it’s not anything new. The overriding theme is that not much will change with the indices in the short-term (agreed), and overall it’s mainly just a review of what is already in the official summary issued by FTSE Russell.

[Apologies to other ONT forum users for the lengthy discussion, but it is interesting and relevant to all investors in the broader scheme]

Whaddaukno - did you mean CFO rather than CEO? I.e. an internal promotion to replace Paul Quested permanently as CFO?

The ‘Transition’ name was debated during the FCA consultation process because some respondents thought it was not appropriate. ‘Legacy’ was suggested as an alternative but the FCA decided to stick with their earlier idea. Although companies are encouraged to look at transitioning there is currently no deadline for doing so. From the FCA policy statement:

“Proposal 11.4 - The transition category would have no end date at the point of implementation and no deadline for issuers to transfer out of the category, but instead we would keep it under review.

“Response to feedback - We have set no end date for the transition category at this time and no deadline for issuers to transfer out of the category. Any decision to wind it down at a future date will take into account the number of issuers that remain listed there. We would also publicly consult before removing the category and provide sufficient time for any remaining issuers to consider their options.”

Suggests it won’t be soon and I personally think they would wait until the remaining companies in the category fell to maybe around 10-20% of the current level. Need to see the run rate for transitions in the coming months to get a better feel for when a deadline might be set but I suspect it will be years rather than months. In the meantime the decision rests with the Boards of the relevant companies.

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Perhaps benefits to come from the FTSE 250 in due course, including increased visibility, but ONT don’t need to pander to UK funds just because they would like to buy, although it would help their case to remain as a homegrown tech company. They already have a fairly broad base of large investors with at least a dozen holdings in the range 3-10%, they have strengthened their balance sheet over the last year, and medium term will depend if they meet their breakeven target in 2027.

By “admin process” (and “costs”) I was referring to the additional legal and regulatory steps they would now have to go through during/to complete a transition to the CC category, rather than the existing regulatory/reporting requirements that they are following. Is that the best use of their time and resources at this point, with no deadline set - I’m not sure? Be interesting to see if the Board address this on Tuesday but they are under no obligation to do so if not actively being considered at this time.

@1pencil – yes, I posted on this on 18th Aug. What questions are you asking the FCA?

@Adastra - ONT already have an official LSE classification, since IPO. They are now in the Equity Shares (Transition) category which was a straight map across from the previous Standard listing on 29th July. There is no such thing as an ‘unofficial’ classification!

They can choose to move up to the Equity Shares (Commercial Companies) category if the Board decide to but I have seen no indication of that. They might consider it an unnecessary distraction and cost while their focus is on development and generating new revenue streams. They already had the option to move from the previous Standard to Premium categories once the LAT shares expire, the new listing regime is no different for ONT other than the costs are now lower (but still significant) and the admin process has changed.

If they don’t choose to do that, and also complete the process including FCA approval by Oct>Nov, then the FTSE 250 would not be possible until March 2025 at earliest, and only if they do decide to change category before then.

At least ddata don't try to 'guess' unknowable future dates that then get posted on these forums as if they were facts that end up being misleading! They have the good sense to only update once a company make an official announcement in an RNS. dmax have still not even revised their fictional dates to those indicated by MNG on their website.

Some retail brokers offer on-line voting, some don't, so there will be variances depending on who you use. The key dates were only announced yesterday so some might not catch up with that until next week and create the necessary on-line form then.

The deadline is not until 3rd Oct, although brokers will set their own deadline a few days in advance of that to allow them to collate all the votes and then submit them (ii are showing 1st Oct as their deadline).

Here’s an example of good communication where different rules apply, from Tharisa which trades on both the JSE (T+3 settlement) and on LSE (T+2). Scroll down about a third way to see their very clear timetable:

https://www.lse.co.uk/rns/THS/half-year-report-r8pep2xcc3zklb3.html

I'm not seeing August on that link - top entry is for May with the Ex-div and Record date the same, which it is in Canada since the rule change in May.

So HL have changed their date from 29th before to now stating 30th.

And dividenddata are still showing 29th but they are also showing 31st May (the Friday) for the previous quarter when the Canadian rules first changed.

https://www.dividenddata.co.uk/ex-dividend-date-search.py?searchTerm=PTAL

As I mentioned 2 days ago, you cannot rely on any third party sources for this information, it has to come from an official source e.g. an RNS. PTAL have to make the dates absolutely clear for each market in their future announcements. There may not be a regulatory requirement for that (in the UK a company doesn't actually have to state the XD date, only the record date) but there is a 'good communication' need for it where the rules differ in each market.

I've been trying to get info from the London stock exchange the last couple of days but they have now confirmed that they don't publish dates on their website, and you only know when it is XD from the day they mark it as a 'Special Condition' as noted by rylidan below.

I think they are adjustments being made on a larger order, or something like that. They are marked as OTC trades so a private deal done away from the exchange but need to be reported in regardless. There's more about it in the stock market regs but it's a pretty arcane read so I wouldn't go there unless you need sleep - I'll try to find a link later for those that do.

Just Instis doing what they often do in the background and has no real bearing on anything that you poor mortals could know about ;o)

Hank13 - the offer is stated in bold letters at the bottom of page 1 of the Rule 2.7 announcement. There have also been a couple of worked examples posted on here over the last few days.

Appears all is working again, no recent changes here.

It's possible that LSE get their data feed from shorttracker? That was down for maintenance yesterday and is showing blank tables where there should be data, and also showing changes marked with dates in the future in 2024 so clearly a problem. Or maybe a problem with a source data feed that both LSE and shorttracker use?

https://shorttracker.co.uk/company/GB00B1VQ6H25/

Anyway, there's a data problem, somewhere...

BioMérieux are precluded from increasing their stake above 9.9% until Oct 2028, unless someone else takes ONT into an offer period before then.