Member Info for Crocqman

"This is why selling at this time should be banned for ALL directors."

What does 'at this time' mean?
How can you quantify it? Maybe 5 days before an RNS? Or 10 days? Maybe a month? Who monitors this and how?
Perhaps they should ask this BB if it is ok for them to trade?

There are clear FCA rules for Director dealing.
There is a closed period for 30 days before FY results and also before HY results. Outside of that, all Directors and potentially all company staff who may work in sensitive areas need to get company approval in order to trade. They will declare if they are in possession of material information as it is a listing requirement to do so. They will be making the declaration to one or more other Directors to get approval, and they would be best placed to know what any other Director, NED or staff member may or may not know, so it is a company decision to approve, or not.

Directors can also trade during a closed period if necessary but need a specific reason to do so.

No more posts from me on this. Not relevant for me as to the SP move of late, or the news releases.
Funny how Director Deals are never an issue when the SP is going up, it's all 'good luck to them making their money too'

No naivety on my part at all.
Just familiar with what Directors and NED's can and can't do, and when.
The suggestion from several posters in recent days was that he knows something and is being allowed to sell as an 'insider' ahead of news and that MM's were accommodating his trades in favour of others to allow him to 'get out'.
The level of selling from PF is in no way indicative of anything untoward, or 'insider', imo.
Posters can chose how they wish to interpret the trades, for me, it is likely to be tax related at this time of year. You clearly disagree. For me, the size of the trades is not remotely significant.

If there was insider news, he would be required to declare whether he was in possession of said news prior to being authorised to trade, and this would be disclosed to the market along with the trades.

Everyone can make up their own minds, I was merely pointing out the difference between a Director and a NED, which many clearly do not know or understand.
It is a total non-event for me.
DYOR

Fair enough, but from the 3rd April RNS:

"Throughout this period we have seen the steady removal of residual drilling fluids from the well and expect the clean-up to take several days before we reach the final deliverability.
Connection to the plant for gas processing and export is planned directly after the clean-up and we expect to realise the combined flow rates of all three wells later in the month.".

You can understand posters to have been expecting gas to be flowing to the grid seeing as clean-up was expected to take several days (as of 3rd April) with export planned directly after.
Granted, they said to realise combined flow rates later in the month, but the RNS today appears to be a moving of the goal posts as 'several days' has already become 2 weeks when we told told by experts on here it would only be a few days, and they only changed their opinion to include new possible scenarios when the mooted timeframe was clearly not happening

There is no panic, just the usual frustration at the standard of communication and the vague wording that is open to a broad range of interpretation.
ANGS are well known for shooting themselves in the foot with badly worded announcements and poor timing of news releases.

For me, also as a layman, the key words 'exporting to the grid' are missing.

The 2nd paragraph of the RNS states earlier that it was producing via a temporary production system to a flare during clean-up. They tell us that the performed a multi-rate flow test last week, but do not say anything about what is happening since then.
We have not seen a change to output figures.
It is frustrating to always have more questions than answers from an ANGS RNS.
If they were exporting to the grid you would assume that they would say so, so what has been happening since the multi-rate flow test ?
Have they moved on to do another clean-up? This seems to be the more likely current position to me, but I'm not an expert

We can only hope that we get more news in the coming days as suggested from the tweet response by GL.
An interview would not go amiss either

Yes, it's been a strange day as far as the SP goes.
While volume has picked up since first thing this morning, we still look like falling short of Thursday and Friday figures.

There will be an element of profit taking, as well as folk taking advantage of the drop.
I banked some last week, but was not tempted to add back - Happy to hold for the next leg up.

It will be interesting to see if there are any late reported trades.

Not a fan of stop losses, especially in small cap stocks that can move quickly, but that's a chance some prefer to take.

Hopefully, we will see some more buying pressure on the back of those tweets. Sometimes that's all it takes, especially with news in the offing.
gla

No, they do have to follow Director share dealing rules.
That's why they have released the Director Dealing RNS's
They are just not necessarily privy to the same day to day information that a Director is

He's a Non-Executive Director (NED) not a Director.
Big difference.
Try reading up on it, perhaps?.

A non-executive director is a member of a company’s board of directors who does not hold an executive office. Non-executive directors act as independent advisors and are not responsible for the daily operations of the company.

Plenty of sites to DYOR to see the roles and responsibilities of a NED, a simple search gives loads of relevant information.

But you probably know that already and are just scaremongering for the sake of it.

I thought this RNS would mean this is a late submission of annual reports vs FCA listing requirements, but it seems that the 4 month deadline for producing annual reports does not apply to EQTEC:
"An issuer whose registered office is in a third country is exempted from the rules".
Third Country = a territory or country which is not the United Kingdom.

Still seems an unnecessary delay though as there shouldn't be anything from the accounts that warrants more than 4 months to be signed off.
Any recent good news should already be released in an RNS so they should not be delaying to include anything in the pipeline (imo).
Not expecting to see anything significant to warrant an SP rise. It is the cash situation that will be of interest more than what is in the pipeline, although an extensive Operational update will be welcome.

OT,
For me, it is down because despite all you say being true, we have not seen confirmation of export to the grid which everyone was expecting to see with this RNS.
Until we see evidence of delivery (and at the rates suggested), we will not see an increase in £££'s to the coffers which are needed.
The market is interested in the income from this side-track, we already pretty much knew everything else in today's submission. It has always been about delivery and the resulting cash flow and this is still not confirmed, nor do we have a firm indication of when that will change.
imo

Massive sell off today?
I can't see L2 and we are barely into the trading day, but the evidence of reported trades so far does not back this statement up one little bit

Sorry ocelot, but I really cannot see this happening.
I think that ANGS are still too opaque with their financials, news releases, etc to be on any II watch list.

II's will want to see more before they invest. There are many options out there in the small cap space jostling for II money, not sure that ANGS stand out as a good bet at this time.
They will be happy to pay a higher price with more of the risk reduced, but only if they see further upside.

They will not be interested in Balcombe, Brockham, Lidsey, etc (which may make it a flat 'no') and anything else will have question marks about time and cost to deliver (ANGS have proven they cannot be trusted on this).
II's waiting on the side lines for a higher mcap (to fall within their investment criteria) is a red herring, imo

chimers,

This is the official FCA page for short selling.
https://www.fca.org.uk/markets/short-selling/notification-disclosure-net-short-positions

In the 7th paragraph there is a link to an .xls spreadsheet (sentence text below) where the positions are updated daily - the FCA should be notified by 4:30 daily (I believe) of any change and the spreadsheet is updated.
You can just view the file rather than download.
1st tab shows current shorts (i.e. currently as of 14/04)
2nd tab shows historical moves

Sentence text for link: See the public short positions disclosed to us - daily update (XLSX).

Alternatively, you can look at the open shorts position tab towards the top of this page which shows for ANGS only. Not sure how often/quickly this gets updated though

Great. Let's hope we get an RNS tomorrow.

Just looking back at first gas last year at SFB, the SP rose sharply on the day of the commissioning RNS (25 August) starting at 1.25p and continued to rise for 3 straight days to 2.31p. There was then a small dip on 31 August (4th business day after) when the first gas RNS was released but without flow rates, before rising to to its peak on September 5th (2.725).
When flow rates were released on 9th September, the SP had already dropped back more than 10%.

So, when we get news, will we see all the info in 1 RNS, or released over a few days?
Will the SP rise over several days to a peak, or get to a new high in 1 day?
Will we see warrants being exercised on news?

Looks like there could be plenty going on this week
Good luck all

Another ThisisMoney article with some commentary from the SSIT CEO.
SP is down a further 16% since the last article just 6 weeks ago.

https://www.thisismoney.co.uk/money/investing/article-11968507/How-investors-space-race-Virgin-Orbits-crash.html

Given that this Monday is the 17th, surely that must have been a typo in the earlier RNS.

We have seen typos before from ANGS in RNS releases, so it wouldn't be surprising and it was only a few days later they suggested we would see flow rates 'later in the month'.

A typo makes more sense in context with the later notification.

Good weekend all

Great few weeks here.
I took some profits just on the closing bell to lock something in at a +100% gain.
Can let the rest ride now.
Time for a beverage.
Good weekend all

A lot of the lithium stocks have been moving of late, so possibly people looking around for producers in other 'similar' areas.
Have seen TGR mentioned on a few boards recently following the analysis from Miles last week.
Good to see

Some people are stressed because the boards ever unreliable Mystic Meg told everyone that an RNS had been logged on 5th April.

Staggering that some are still inclined to believe him and suggest he has called things right in the past when he clearly hasn't, only noting that an RNS was 'logged' at a time news was known to be imminent.

He has still not told anyone where you can see these logged RNS which he told us were easy to find if you know where to look.
Despite almost 6 years on these boards no one has ever shown any link to any logged RNS site. I wonder why that is?

And don't forget, in his own words (24th March): "Suspect by now some have worked out that I "know" what I'm talking about".

Funny that he has not been seen since.
At least we know that ANGS will be bought lock, stock and barrel by Shell once the side track flow rates are confirmed (eye roll).

gla

I believe not dan.
Although it is still referred to as a Bed and ISA transaction, I believe providers technically now have to treat them as separate trades.
Some providers require cleared funds before they will do the buy back, so you may get a very different price.
Some may do it same day and may also do it at the mid-price (not guaranteed) or close to it, and only charge fees for doing so, but you need to check with individual providers as to what each will do.
It can be expensive and as others have said if you time it wrong

Given the past history here, a Mickey Mouse watch would have been apt. Perhaps now, something more high end would fit the bill, but we still need that rise on news.
Not sure about tomorrow, but a Monday morning RNS could be on the cards.
I would at least expect a tweet over the weekend if not.
gla