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Cape reduced yesterday (down to 0.3%) so there are no zero declared shorts above the 0.5% threshold. Happy days.
Assume todays nonsense is shorts now disparately trying to get the issue shares they have give back at the cheapest possible price they can.
DT
I must confess that I sold half at 11.28 a few days ago and then watched them go up to 11.50 ish before dropping back to 11.25 (ish). Felt like I’d missed out and with trading update due i bought back those shares at 11.27 and bloody glad I did :-)
DT
That’ll do donkey. That’ll do.
DT
Quote "the owner of the share gets the OO shares not the shorter!"
That is an interesting point. If a holder loans out their shares and a shorter sells them, then neither own those shares at the Recording/entitlement date, so neither would be entitled to the offer. Therefore, I assume the shorter would have to give back 125% of the shares they borrowed in the first place to cover the original shares borrowed and the offer shares, with the lender simply paying the shorter £1.15 for each offer share they return. Or is it simply that the shorter needs to return the original quantity and the lender takes the hit for being out at the time of the offer??
Anyone able to confirm?
DT
It will be interesting to see if PFC's ability to win work in the ME is hindered by their inability to 'lubricate the wheels'.
Let us not forget that those 'inducements' were accepted, and possibly even demanded (?) by those very people that actually influence the award of these contracts.
DT
DT
QUOTE: It’s most likely a trader lending out his shares at 151 in the hope to buy them back cheaper which is exactly what I and every other trader does who has a brain!
How can you 'lend out' shares and then buy them back cheaper?
Can everyone please stop giving Snapper oxygen. Just ignore his posts and he’ll soon get bored. He is a paid dreamer who only appears when there is a bit of weakness in the SP, no doubt created by his employers. Life is too short to engage with this baffoon.
DT
Paddy
I suspect our short friends may have something to do with the current SP, along with those who feel the need to bail out after a good run up.
When the dust settles true value will out. It will only take a contract win, ADNOC clearance or a major director buy by you know who to send this on its way.
DT
DT