RE: RNS4 May 2018 22:02
Hi Bob, first things first, TB didn't sell his 9.225 million today. He's been selling them into the market since 21st April when he informed the market he had 20,914,111. My guess, most went into the market between 25th and 27th April when buying demand was strongest. The fact that I could have sold a million or more easily this week simply means TB's shares have been absorbed already. Back when he was regularly trashing the share price and there were few buyers, you'd have been lucky if the MM's allowed you to sell 25k shares most days. This is no longer the case. We have an unanswered demand for now.
Nominally, this RNS should imply that TB has finished selling for the moment. In truth, I doubt that anyone can say that he has for sure. TB doesn't really play by the rules so you can't read anything into this RNS.
I'm not sure that this news will have any impact come Tuesday opening. If the spread reduces you might be able to conclude the MM's have balanced their books for the time being but if I find I can still sell a million plus next week my assumption will be that the books are still unbalanced or a big buyer is sitting in the wings waiting to acquire more shares.
Hope you have a good weekend too. Foolishly, as part of my spring clean I decided to re-order my music collection. Boy can you collect a lot over a lifetime. I am about half way through the task but will probably give it a miss tomorrow to enjoy a pint or two and watch the girls in their summer clothes pass me by.
https://www.youtube.com/watch?v=6vC3FHlpV3I&list=RD6vC3FHlpV3I&t=31