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My best guess is that this is a bit of 'afters' from the last problem. There may have been a bit of bad feeling after KRS publicly corrected HL in October. The record date is what matters as the RNS makes clear, however maybe someone on the KRS side was a bit slow updating the LSE with the X-C flag. So HL are being awkward by working very strictly to process on the X-C flag. They may know they will have to back down once the SRNs arrive but they can make life very hard for KRS and their advisers in the meantime. Egos getting in the way wouldn't be a first in the City. Probably wrong but I wouldn't rule it out either.
*do the same
If Automic issue SRNs for CAI share quantities based on the 19 November 18:00 holdings what are HL going to do, throw them in the bin and use their own numbers? It sounds like HL don't want to admit they have made an error. I'll be asking them for their complaints process and suggest other customers the same...
HL used to be really good. They are scoring so many own goals these days.
Now at a one year high
https://uk.investing.com/commodities/crude-palm-oil
A question for those brokers the are allocating CAI shares based on 20 Nov instead of 18:00 on 19 Nov is have they received an SRN from Atomic Group? If not, then they are making the numbers up themselves and they are subject to confirmation. If the numbers are supported by an SRN then that is contrary to the timing given to the market by Keras in an RNS and a false market has been created. Russell would certainly know about that as it would be a big deal, likely to end in court. That this is news to him suggests that HL and a few others have just looked at a belated LSE flag and drawn erroneous conclusions. In the case of HL they got it wrong in October and KRS had to put them right, so they don't have an unblemished track record on this process.
Had to go through broker manual dealing to get £2K at 2.1 yet could sell any amount at 1.95. Looks like the MMs must be fairly short of stock right now.
Good run on the CPO price, 2020 could be very profitable year if this goes on.
Nice start to the week with Palm Oil Price motoring on:
https://uk.investing.com/commodities/crude-palm-oil
If it goes on like this the company will have to look to issue a 'no reasons why (other than undervalued etc)' RNS. But then maybe there could be a reason. I don't want to start rumours as I don't know any more than the cats and dogs in the street. However with the assets they have, slightly under-capitalised for all they want to do such as Guitry, the market capital is very low. Viewed from say Malaysia they must be a tempting target for one of the big palm oil players:
Geographical and seasonal diversity.
Mill has familiar Malaysian technology
Opportunity to expand production - fertiliser programme and extra 10,000 ha planting (see 2017 FY report) starting to come into maturity.
Guitry opportunity
More limited scope to expand in Malaysia
The cashew nuts could be brought into production by the well funded major, then floated or sold off realising more than they probably paid for the whole company.
There, I have just done their entire business plan, where should I send the invoice haha!
Philpot1001, I think you studied this a few months ago? As I recall you found the REA price tends to be a bit higher than the price on investing.com, and is nearer to the price DKL get. It certainly looks that way on a quick look. The only problem is that the one is (nearly) live and the REA price is a few days behind. Anyway CPO is going in the right direction, onwards and upwards!
I think you got a good price there, better than my buy this morning! This may be the sp bottom, if not it is very close. This business is cyclical and the price has been at an historic low. Palm oil prices are strengthening which, given we are entering the S E Asia high season when prices would normally dip a bit, augurs well.
Up 2.5% now. Better palm oil prices will help massively, DKL usually get a premium locally on the world price.
Just a thought - if the farmers harvested immature fruit in Q3, which drove down the yield, then from what I know of gardening this may lead to stronger more productive plants for next year!
Probably not a good thing for prices - likely to increase costs in India and therefore prices, which would reduce overall demand for palm oil. Malaysian producers would look to move any surplus production onto world market. However it does not appear to be official policy, just a call for a boycott and there are lots of reasons not to - lot of S Indian workers in Malaysian palm plantations for one!
Continues to improve, up 1.6% today.
https://uk.investing.com/commodities/crude-palm-oil