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In theory but not for IQE it seems not. Maybe the rules are not this simple. Maybe shares held in different funds. They used to use Hales Hargreave and Marlborough funds. They have since renamed Hales Hargreave to Canaccord.. Think they have used Canaccord brand for a few years now.

At it again. 2.5m trade gone through. I would think Invesco would want to pass 11% before next announcement. Still not clear if reducing to x% or clearing fully. Fact Cannacord did RNS suggests they intend to buy more.

RNS Invesco cleared about 17m shares.

No. Hence why they now say 5%-10%.

Late trade for 10M shares. 18.1p at 09.38am

Cancacord shares updates via IQE website.

Jan 2021 52.8m

April 2021 58.1m

September 2021 64.7m

July 2022 - 70.456m

31 Jan 2023 71.71m

30/06/2023 85m (Likely took on 10M shares from share issue.)

15/09/2023 96.8m

Which is about 12m more shares Since June 2023. Over 2 years 46m more shares. They are sitting on a pretty big loss. Those 50m shares arrived over 2 years.

22/06/2023 Invesco had 153m shares.

11/08/2023 134m To date they likely have less shares If they are the current seller I would expect that to be 120m or lower now.

It's possible other funds are also active too. In last week or so 45m shares have changed hands of which we can account for about 12m. Let's see what other holding RNS follow. So far it does not look like one new big investor will take out Invesco.

Not doubting they have added 50m or so shares. They have been at 8-9% before Invesco started to sell. They likely took on some of the share issue too. Which is why I think they have probably bought about 10m or so of Invesco shares.

Https://www.iqep.com/investors/major-shareholders/

They have not added 50m shares in last week. See link. At best they are gaining 3-4m shares a day. Like I said about 10m shares. More shares have been traded since their announcement.

Ebidta does not cover their 32m yearly admin cost.

Holding RNS. They actually increased by about 10m shares if you go by major shareholders page unless I missed something?

Need a lot more than this. Broker site suggests £117m this year. Meaning they are not covering 24m of admin and other expenses. They will be losing at least 23m or so this year.

14.18m shares traded. Late 5M trade after close at 17.5p. Should get a holding RNS from buyer and seller sooner or later. That or trades will ramp up until the seller has cleared. I wonder if the buyer took any of the 150m share issue?

Invesco likely still selling so expected.

Double digit growth from 52m. That 30m stock was never lost business. Hard to determine what this actually means. They need 70m in H2 to reach 120m. That requires 30%?

If funds are holding price between 17-19p maybe less risk.

Right now buying at 17p and selling at 19 could be a way to make money here. Share may continue to do this while Invesco sells. Results would be big unknown.

2m trade slipped in so volumes closer to 3m now.

Graph watch shows share falling back from 19 high as volumes fall and share price falls back too.

Really all just meaningless with 2 brokers buying and selling between 17-19p. This will continue till Invesco stops reducing here. Sooner or later an RNS will appear for the buyer but 3% required if a new holder.

Main reason for the fall is a major shareholder appears to still be selling. No one is expecting miracles here. They were 4m off the suggested 56m.

4m share trade at 20p appeared after close. 7m volume for day is quite high on no news.

Not sure we are at the bottom. Volumes picking up but large volumes not yet coming in. If a fund wanted to clear out SP would have to fall further. Many funds have been burned here. Many like Lombards sitting on losses. You get no dividend here. Many hoping for a miracle turnaround. Wonder who is mopping up the sold stock here?