Member Info for E_AL

10 times the daily volume has been traded.....

6 times the daily average volume were traded in the past 4 hours!

Huge volumes were trades in the past 3 days!
5x the Daily Average Volume traded since the opening & almost equal to the overall volume traded yesterday.

The sp should see recovery once the selling fades.

*What is the 'two-strikes' rule?

The ‘two-strikes’ law is designed to hold directors accountable for executive salaries and bonuses. It means an entire company board can face re-election if shareholders disagree with how much executives are being paid. The law is an amendment to the Corporations Act and came into effect on July 1, 2011.

FIRST STRIKE

The ‘first strike’ occurs when a company’s remuneration report — which outlines each director’s individual salary and bonus — receives a ‘no’ vote of 25 per cent or more by shareholders at the company’s annual general meeting.

SECOND STRIKE

The ‘second strike’ occurs when a company’s subsequent remuneration report also receives a ‘no’ vote of 25 per cent or more.

https://www.smh.com.au/business/companies/what-is-the-two-strikes-rule-20121008-278us.html

I am not a fan of conspiracy theories but looking at FTSE100 , 85% of the listed companies are either static or moving up which means we have a healthy trading day then I checked the Falling Shares List and I've spotted many AIM O&G companies dropping which didn't make much sense to me. I think this is some sort of market manipulation a head of OPEC meeting today 2PM GMT. All oil producers will agree on cutting meaningful portions of their oil production which should reflect positively on oil prices (already high up today ) and the market in general. I think O&G companies will bounce back in the afternoon once the oil cut is confirmed.

Buys vs Sells is almost 4:1 and overall volume is over 80% of the daily average volume (within 30 minutes !)

# Trades 201
Vol. Sold 551,407
Sold Value £89.88k

Vol. Bought 2,101,027
Bought Value £342.47k

Almost 3:1 buys vs. sells, I think we'll see some recovery before the weekend.

# Trades 127

Vol. Sold 426,597
Sold Value £70.39k

Vol. Bought 1,234,830
Bought Value £203.75k

Yep, it’s in black and white: sufficient funds -no placing : [No there is no requirement to raise further cash].

*From the quarterly report:

1-Does the entity expect that it will continue to have the current level of net operating cash flows for the time being and, if not, why not?

Answer: 8.2 relates to costs associated with the Charlie-1 well, which are fully covered by funds received from the farm-out to Premier Oil and 88E does not expect to incur any costs in relation to this item.

Net of JV cash, 88E has A$8.9m in cash and has expected total outgoings for the remainder of the year of A$7.0m (including both operating and investing cashflows), which are more than covered by the current net cash position.

2. Has the entity taken any steps, or does it propose to take any steps, to raise further cash to fund its operations and, if so, what are those steps and how likely does it believe that they will be successful?

Answer: No, there is no requirement to raise further cash

8th of April- Most Traded Shares By Volume

1-Iconic Labs (ICON) 0.038 986,545,739
2- 88 Energy (88E) 0.33 235,032,817
3-Union Jack (UJO) 0.13 197,830,436
4-Lloyds (LLOY) 31.215 143,148,502
5-Vast Res (VAST) 0.185 127,846,845

# Trades 432

Vol. Sold 80,638,219
Sold Value £266.11k

Vol. Bought 140,702,348
Bought Value £464.32k

* Almost 5 times the average volume

Nice consolidation forming around 0.33 which should be the new support. I think we'll see some recovery tomorrow early morning -after the AGM

GLA

135 millions shares were traded since the opening - 2.5 hours ago

That's 3 times the daily average volume!

Great volume here!

We just hit 100% of the Avg Volume (within 40 minutes)

The drop was overdone & 88e shares are currently [Unborrowable] on IG - From the charts I can see an easy bounce to above 0.4 this morning :)

From twitter:

Exclusive- The Register can reveal Capita gave 60 minutes of training to staff it tasked with screening recently retired doctors and nurses that were urged by the NHS to return to active duty during the crisis.

Our sources told us that the firm's staffers were asked to dial in for a one-hour "virtual" training sesh this past weekend, after which they were expected to immediately get to work hauling back what the outsourcer terms "Returners" to provide additional cover to hard-pressed services during the current COVID-19 pandemic.

The project, Capita told its employees, was awarded to the People Services division on 29 March. The value was not specified.

Capita, which is calling the effort "Project NHS - bring back staff", wrote to staff on Friday 3 April to say it had, in that week alone, already trained "400 colleagues" to do the vetting work.

In the email, seen by us, Chantal Free, executive officer of People Solutions at Capita, said 20,000 medics had come out of retirement and each must legally undergo a professional screening process before returning to the field.

"Obviously, it is crucial this process does not delay their return," she said. The 400 staff had been "contacting returners, collecting and processing the information necessary" for the docs and nurses "to be redeployed, and conducting the necessary background checks".

To read the rest of this article:

https://www.theregister.co.uk/AMP/2020/04/07/capita_project/

Purchase of shares

Price : £0.2819
Volume 70,570

ge0rge123,

You are welcome .. Numbers and government contracts are FACTS, something desperate shorters don’t want you to look at.

“In the last few weeks we have secured new work including a three-year extension to a Ministry of Justice contract (worth £114m). Capita also won new projects for a high street bank (worth £33m over three years) and a healthcare contract win in the Software division (worth £19m over seven years).“

Pandarama, I don’t think you mind me completing the part of the report which your quoted? ;)

“As at Wednesday this week, Capita had GBP450 million of liquidity. It has access to a GBP425 revolving credit facility plus a further GBP150 million additional facility,

of which GBP150 million was drawn on Wednesday. Capital said this reflected >>>>"the typical seasonal requirements of the business".<<<

I think Capita’s extreme bad luck resulted in such a hefty drop in its sp. Their market update about the time & investment required to complete the restructure of the company couldn’t hit the market at the worse time , it came a couple of days after the coronavirus panic hit the market & when FTSE 100/250 just lost 10% of its value, then the stock market sell-off rally started and all financial indices around the world plunged. Another wave of sell-off kicked in when the company suspended its dividends & after the MCap investment dropped below some wealth management firms criteria. Finally the Coronavirus RNS which was very expected ( Similar to every other company listed on the exchange) added more insult to the injury which & led to the sp hitting the 30s level.

At the moment the sp is oversold on TA charts (rsi 20%) . An 80% drop in the MCap within a month for a company in the size of Capita & got several ongoing contracts with the government is clearly temporary. All analysts ratings since the coronavirus pandemic kicked in have been multiples to the current sp. I believe we’ll see the sp settles within 35-45p zone very soon until Capita releases update(s) about signing new coronavirus contracts.

“We are currently exploring more than 100 situations to support the UK Government COVID-19 response with additional services. This includes contributing resource to healthcare call centres as well as being part of an initiative to set up health testing centres. Some private sector clients have also asked for additional help to respond to higher demand from their customers”

Consensus Rating: Buy
Consensus Rating Score: 2.50
Ratings Breakdown:
0 Sell Rating(s)
6 Hold Rating(s)
3 Buy Rating(s)
1 Strong Buy Rating(s)

I dont think Ameriprise Financial agrees with you here, they bought 5.3% of the company's shares last Friday

Now we know where the three chunky trades from yesterday came from!

Knowbodyyouknow, sorry I should have clarified what I meant by "force selling". Its not a compulsory sell of shares but when the company decide to go private it will be de-listed from the stock exchange so you wont be able to trade its stocks anymore, therefore the logical thing to do is to sell your shares back to the company. The buyer (The company/bidder) normally make a buy offer at a premium to the current market value.