Member Info for gilesfitzh

Of course it could be that the MMs staff have really got their hands full. The FTSE, and all the other exchanges, have yoyo'd quite dramatically all day. The FEDs 50 point cut seems to have only bounced the markets by 2% for a couple of hours and they are back where they started again. No one on Bloomberg seems to understand why the FED acted.

LSE trades stopped again just before 3pm but until then trading was very thin. Only about £20k of buys and for that to move the sp north by 2/10ths surely indicates that the MMs are short of stock.

if you see that an RNS is published on Monday. It will probably just be for Colva's 2 million shares.

Hi :)

Without wishing to appear ghoulish are 'we' going to be able to buy up lots of Life Policies before the Coronavirus gets established in the US? I would think that our target market, the old and already unwell, are the most vulnerable to the virus.

Regards,
Giles

Thanks Ophidian :)

Yesterday was the second day in a row when the trades stopped being reported a little after 2pm. LSE probably want us to cough up for live data :p

LSE's recent trades seems to have stopped just before 2pm. I have no idea why.

Topped up at 15:12:57, 791000 @ 1.6949. Holding now 3.25%.

Prize goes to Ophidian :)

Morning. Actually it could be today, depends on how busy GS is.

But I do know :)

I'm prepared to put money on it if you'd care to bet :)

There will be one tomorrow.

From what GS said at the AGM Colva/Rebello will get 2 million shares on the 1st of March and that's it, they/he are out of the picture.

@RelativeValues :) Seems I'm the only iDealing.com client that has shares in ALGW. I bought a few more on 17/1 which, with hindsight, I should have left until now. Thanks for this though as it shows that, at least up to 13th Jan, none of the larger shareholders had sold any. The Directors wouldn't have been allowed to but even Dennan hadn't.

Red Arrows are based at Scampton, just a little north of Lincoln. Think you need to go online before turning up for security reasons.

@Andy268: That's not really surprising the rise from 6th to 17th Jan (1.825 > 2.65) was due to fomo if the RCF RNS dropped. Seems most expected the RNS at least by Monday 20th and when it didn't materialise the sp dropped back to 2.05 by Friday 24 Jan. It's drifted since then on very thin trading, usually less than 10 million shares per day. Compare that to the nearly 70 million traded on 2nd Dec when the last positive RNS dropped. When the expected RCF RNS does come along watch the volume and sp rocket :)

At last someone else who has read the available documentation :) I am completely in agreement with you SecretBlueprint. My earlier 'theory' was just this in a very simplified form calling the SPV (Special Purpose Vehicle) escrow accounts looked after by the lawyers which hopefully people would understand if they have ever bought a house.

I am not a city financier and I don’t claim any particular qualifications as an investment adviser. However, may I propose the following THEORY that is, IMO, as equally valid as any other as to how things might develop. I have titled it:

How to manage the risk of giving a small company a $100 million RCF.
OR how a small company can borrow $100 million without selling their soul.

The lender places $100 million in an escrow account controlled by their lawyer.
Sellers of Life policies place their policies with their lawyers.
The prospective BOAGF bond buyers deposit their money in an escrow account with their lawyers.

ALGW/SLIM value the Life policies and make an offer. If this is acceptable to the Life policy holders, the policies are exchanged between the policyholders lawyer’s and the RCF lawyers and money moves from the RCF escrow account to the account(s) of the policyholders.

At the same time, BOAGF issue a bond(s) at a cost of the policies mentioned above plus the costs of the RCF and the future premiums that are expected to have to be paid and hand this over to the bond buyer’s lawyer who releases the funds held to pay for the bond. The cost of the policies and RCF goes back to the RCF lawyer’s escrow account and the remainder goes to BOAGF to pay future premiums.

At this point we have policyholders who now have cash to spend while they are alive, HNW/Institutional investors who have bonds in a Cayman Island fund which seems likely to give them a gross return of 15% on their investment and ALGW/SLIM who have a fund to manage in exchange for each receiving 0.75% of the value of the AUM and 10% of any performance of the fund over 7%.

Everyone is happy and the process can be repeated ad infinitum.

@olderandwiser. I think I'm with you :) This BB is beginning to read like The Da Vinci Code.