Member Info for EnricoPallazzo

I'm no Aussie tax guru but a quick googling for Australian ESS (employee share schemes) allowed me to come across some information on upfront-taxed schemes and those with a deferred taxation date. My guess is that, for GH's and CB's options, the vesting date is used as the deferred taxing point, and this extension allows them to push the taxable benefit to the following year. (Note this is not the CBT tax, which is due when the shares are actually sold.) Here's an excerpt:

"Employee share schemes
ESS and capital gains tax
In most cases, ESS interests are exempt from CGT implications until the discount on the ESS interest has been taxed.

When you sell your ESS interests (or resulting shares) they are taxed under the CGT rules (or if you are a share trader, the trading stock rules).

CGT treatment of an ESS interest after the deferred taxing point
For an ESS interest that is taxed upfront, the interest is taken to have been acquired for its market value on the date of acquisition.

For an ESS interest for which tax is deferred, the ESS interest (and the share or right that it forms part of) is taken to have been re-acquired immediately after the deferred taxing point. This resets the cost base of the ESS interest to its market value at this time, and resets the acquisition date, which will be relevant to your eligibility for the 50% CGT discount."

It actually reassures me that Artemis are raising funds. Looks like this was the sole reason he was tweeting about GGP: to hype up Artemis in the run up to a placing. No other connection with GGP, and let it stay that way.

Agreed. Unless you are lucky enough to ride the pump bit and sell before the dump bit.

I strongly believe that Fortune will drive the SP up in the run-up to October, to minimise dilution.

Back to 12.10p.

In any case, there seems to be enough interest in GGP today: the volume has already exceeded 2m. It bodes well for the rest of the day.

I can't see who would be interested in keeping the SP low for such a long time without building a stake that would be subject to the reporting rules. The only possibility (other than people losing their patience and selling their shares over time) is the holders of the warrants from the Vanchem deal. It is in their interest to depress the SP until the first anniversary of the deal, at which point the first 50% tranche can be converted: the lower the price, the larger the number of shares they'll get.
I don't believe in the manipulation for the MM's own benefit. Surely, there's nothing for them in keeping the SP so tightly bound; they'd be better off buying low, driving the price up, then selling and dropping the price again.

Hydrogen,

Oh yes, there is a binary choice here:
a) Havieron is massive;
b) Havieron ist humongous.

We just need a few good rampers to achieve the same P/E ratio. That would be about 30 pounds per share, wouldn't it?

Yep: all hype and no substance. If you're lucky enough to have made some money today, take your profit and stick it in GGP: the next drilling report is coming on 23rd July

Managed to top up and now have 200k shares. Yippee!

I reckon a few traders have decided to sell GGP and follow the P&D on EEE. They'll bring their sorry arses back here soon.

Let the dump bit begin.

Isn't there a risk that Artemis will decide to scrap the deal after raising additional funds, as the deal wouldn't be beneficial to them? As far as I understand, the whole thing hasn't been completed yet.

Daisan,

Or a really bad incident. The B737 MAX also had a very strong market presence, and look what happened after two serious accidents.

This gives a totally different meaning to the expression 'bucket and spade holiday'!

I think the simplest solution for the MMs would be to peg the share price to the date: 13p tomorrow, 14p on the 14th, and so on. That way, they don't have to think and we can expect 23p when the results are announced, and then 31p at the end of this month, at which point the pegging shall cease.

Zoros,

The numbers you're citing for SOLG ring a bell: wasn't it SXX that had similar numbers, and a similar approach of going it alone? Nothing is sure in this world but I reckon GGP is less risky at the moment.

A small top-up at 12.55p just before the bell can't hurt!

Haha, I sold GGP right after the crash at 0.5p! Hindsight is a beautiful thing but I've learnt my lesson. I believe all will be (more than) well in BMN-land