Member Info for Daisan

I suspect that it will be the final hour or the final hour +1. The history of AIM suggests that companies always leave it to the last minute or a bit later and I haven't seen BMN separate itself from this yet.

I would add that I see this as more significant news than the BE quarterly report.

I suspect it is because they are just not prioritising it. We have seen many times that FM dances to a different beat to most and the day to day concerns of shareholders is not particularly important in that process. But if there was something delaying it, the only thing I can think of that may warrant hesitation is the potential for significant capital outlay - he wouldn't want to commit to a policy only to have it immediately undermined. Examples may include the long mooted brownfield acquisition and fast-track increase in production, both of which would require significant capital.

That said, a dividend policy is relatively straightforward to produce such that it accommodates capital outlay. For example, AAZ's policy is based on free cash flow enabling them to deliver a dividend whilst still committing to capital outlay. What you need to get right is ensuring that the dividend isn't immediately cut once the first is delivered so some reasonable latitude is required.

I meant to say at 36p rather than the time. Doh!

Looks like a UT at 16:35. Anyone watching it at the time?

Some very strange price movements and trading in the last hour or so, first up despite no apparent buys and then hard down on the back of four 50k+ trades.

Well, rather than it being driven by delayed trades it now looks like they increased the price twice on no change to the real bid/ask, the net effect ensuring that all trades are displayed as sells. You really couldn't make it up!

Really odd movements with the share price currently. It seems to be moving despite the visible trades, suggesting that it is being driven by delayed trades both up and down! A bit like watching a poltergeist at work - you can see it move but you can't see anything to move it.

You have to wonder why these 'greenfield' investors actually fall for this. It doesn't take too much due diligence to establish the history of the company and what is about to happen to your investment. Of course, investors such as PJ are cynical enough to be convinced that they can find a 'greater fool' but even he must be thinking that the fat lady may well be clearing her throat here.

It's yet another poor advertisement for a financial institution - borrowing such large sums from a company that can't afford it suggests, at best, a cavalier attitude to governance. Once again it is the individuals at the bottom who will suffer the most.

Yes, a shame but there you go!

I suspect that you are right - there seems to have been a number of off-market trades that swept up the 22m shares even if some look like sells. If this wasn't the case I suspect that they would be dropping the price to try and raise volume to dump the shares bought at 4p.

They did indeed add in the recent placing.

Interesting that there was a sell immediately the first buy came in. Almost as if 'they' were waiting!

I would add the holdings notice for HZM this morning of City Financial selling down their stake to add to the body of evidence. You can try to believe that all of these companies had problems of their own (which suggests that City Financial invested poorly....) or you may wish to consider that they are liquidating at least some of their holdings.

No idea what point 3 is suggesting.

quercusrobor,

As far as I can see I have only posted my 'alarmist drivel' on one other thread - ATM, which is probably the second largest holding relative to market capitalisation affected by this situation and one that I hold. If you would look around at the market you would be able to see that there is clear evidence that this has affected other companies (I draw your attention to SHG and ROSE for example).

I would also add what "Myx co conversation"? There is hardly anything here and the first page has posts from 2017! Come to think of it, these are your first couple of posts on the board as well!

As for the fact that "the firm City Financial has a few minor difficulties" is that in the same manner as World War II being a minor skirmish?

Given the uncertain state of City Financial there is the potential for the short term liquidation of their holding here. This is perhaps the largest holding they have as a percentage as they own almost 19% of the issued share capital so any liquidation could put pressure on the share price. We have seen some pressure today despite the limited volume which may be indicative of a background sell. One to watch.

And bizarrely it has ticked up further despite buys going in under the mid.

I can access it fine gorsuch.

I should amend the original post as apparently they are not in administration yet but this option is being considered. It is still the case, however, that a number of the companies they have positions in all suffered from significant selling late in the week so there is some credence to the view that they may be liquidating their positions.

Not sure that there has been sufficient to burn through the whole lot but there has obviously been a chunk taken out of them. At the rate they have been going it wouldn't take long at the current rate before they are removed though.

Have gone into administration. There is some chat on other boards (SHG and HZM) about them liquidating their positions. The share price of each was hit on Friday as was the case here. I believe that they hold just under 5% based on the December RNS although that could be lower now.

Could create some opportunities around some decent companies.