RE: Trading shares28 Oct 2020 19:00
"Pmo creditors 15% more or less, dont they have a fix period when they can not sell?"
I believe it's a sliding schedule based on the seniority (of the debt) and type of holder. They have published it if you want to look up the relevant documents.
"Harbour and Chrysloorhfhrr" why else would they want to do the resuce deal and remain listed, when they've not been listed before? Because it gives them an exit route. That's why.
As I mentioned, PMO1 is £150,000,000 the retail element of that has a much less control over lock-in. Although it was an ORB listed retail bond I think it's likely that lots of it's not in the hands of retail anymore. How they control that is difficlut to say, it turns on the deifnitions they've applied around "smaller" investors. How much and how holders are defined is unknown.
I haven't got the documents to hand, but you'd expect the lock-up to range from nothing to a 12 month period, that's why I said the selling might carry on for some time.
I don't think there's going to any shortage of shares available and you have to prepare for the possibility that permitted debt holders will make for the door if the income they've invested for has evaporated. In general, income investors are interested in oil companies for the dividend. However aspirational, I think after settling with PMO's credidors and stepping into rescue PMO's shareholders, it unlikely they will declare a dividend for 2021/22. If that's a case you have to expect them to move on.
I find it strange that shareholders wring their hands over shorts being 9% of the equity, don't think having an income seeking crowd having 15%, but with no income, wont cast a long shadow over the shareprice for a lenghty period.
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