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As ever excellent comments Adastra. More buys today. Anyone who got in around 6p picked up a bargain. The small sell yesterday appears to be a private investor. I count over 200k buys over last week. I expect share to rise on any news.

It's possible HH have just paused waiting for trading update?? Hopefully not. It's not like before when they were ex directors selling up. TU last year was 11th Feb. I see no reason for them to rush it out this year. If they are in discussion with another firm then the TU would be a good time to announce this? So maybe 10 days time? Just seems odd no directors are buying here. All too quiet.

or not!!! Think LSE has showed a plum 0 for trades 3 days in a row now. The last trade on LSE for 68k shares was a buy as I tracked the prices that day. Been one trade on ISDX today for 79k at 6.3p and this was a buy. To me it seems the II are done for now and this should be the start of a climb for the SP. I figure we should have a TU in 2-3 weeks time. I am hoping sooner than later. 95% of the sells of the last 1-2 months have just been II. I think we can expect some buyers to return here.

Good find Adastra. There may not be a huge swathe of new client news but the general news feed seems good. I do appreciate all your updates Adastra.

Grabbed 2 news bit from another forum. http://www.prweek.com/article/1381233/newgate-communications-makes-two-new-hires Richard Barton, Newgate’s managing partner for Greater China, said: "Kim and Erin's appointments underscore our commitment to providing a truly integrated communications offering spanning the traditional and digital space." In other news have we a new nomad? hxxp://allenbycapital.com/news.html Has Sanlam folded??

So we sign up Grant Thornton a few weeks back. In other news Redleaf have won Grant Thornton's PR agency of the year award. https://twitter.com/portacomms Nice to see Redleaf win this again.

Well the share has gone very quiet now. Calm before the storm? Still feels like some announcement can't be far off. If this were not the case I am sure the directors would be buying in here. Maybe they are waiting till Feb? Perhaps a TU and some kind of announcement too? Like they did a year or so back.

Be interesting if they did sell off the Australian arm to focus more on the UK? I wonder what price they might get?? Would certainly wipe out that 7m debt and maybe provide millions more to expand UK operations. I am not sure they would do this at current market prices. Hard to know what profit the Australian arm is making? How did you come up with this idea? I know DW has often said the Australian operation was worth more than the market Cap of Porta. Would it be a throw of the dice too far? Porta is supposedly worth 10p. You can presently buy for 6.125p. So this 6.5p ask price is a bit too much. Looks like there are many traders still with stock to sell here. Hmmm.

You can currently buy for 6.13p. So maybe market makers over did it a bit yesterday pushing price to 6.5p. Also means the small 6.14p trade on ISDX was probably a buy yestereday. Market is hammering the commodities again today.

Good recovery today. I almost topped up myself. I think more buys could follow. See if HH still selling. Some update must be due in next week or so. Least a trading update.

60-70k of share bought on ISDX. If this was HH selling 250k over 2 days I don't think they anticipated the ISDX 154k sell trades. It may be that HH ran out of buyers for it's stock? Seem unlikely? I do believe the directors are locked out but not for year end. That will be closer to end of March. They are either waiting for HH to finish or locked out due to some acquisition or deal. Pretty sure Porta will have a good idea on what the year end figure is now. Bank balance should tell them that. Fact we have had no cash call all year suggests firm is still cash generative. The question is what clients remain and have they maintained Ebidta. I think Monday may see the SP recover. HH won't want to dump shares at silly prices?? If you are buying in you need to time this well to get best price. 6p seems dirt cheap but HH have many shares to sell.

Not sure they are. We never got an RNS from Hargreaves Hale. Porta site said 4% of company sold. Yet no sign of the 10m or so shares. I don't think the bod are worried here. They know a big holder is clearing out. Not much they can do. Just way market is. Pretty sure directors will fill their boots when price hits a certain level. 154k shares sold on isdx today. That has not helped. I still think the firm will hit 2.7m+ ebitda this year. Good luck all.

100% still got a overhang here. You can tell by the 150k/400k sells. We never really worked out if HH had yet sold their 4% or not. These test sells of 500 or so shares are from the seller too. I do hope we get some news before Feb. Guessing directors are locked out? Why would they not buy at these prices. Really need a big institutions to buy in here. Looks like seller is no longer worried about price.

Think its definately a sell the 352k trade. (Not 321k) Easily offset by Fridays buys. The 78k trade and other buys today offset the 400k sell. My guess is this will continue till HH reach 5.58% of Porta's stock. So we could be looking at 9-10M more shares to be traded here. It's just a matter of the shares being exchanged now. I am hoping a new major shareholder will be announced at the end of this process. Assuming HH have not sold out to several investors. You can bet the board at Porta would be talking to HH about the sale. Especially with the website updated already.

Well trades are flooding in now. That large 321k sell? Plus about 400k in buys. I figure 2 ii are trading stock here.

The more and more I look at this the stranger it seems. Normally if a stake in a share is sold it firstly appears on the trade screens. Secondly for major shareholders you get an RNS within 48 hours? In this case there is no way 8-10M shares have been traded in last 1-2 months. Even then HH would be required to do an RNS for 9% 8% 7% 6%. Yet Porta's website suggests it has already happened?? Do all trades appear on here and ISDX? Could parties exchange shares off the market?

Apart from that unknown 10am drop in SP I count close to 250k buys today. If the II are done here this could quickly track north. Almost tempted to top up 50,000 more shares. Resist!!!! Wait for the late trades. I would still expect the HH trade to show up at some point.

Am I right in thinking there previous auditor resigned? Is this because Porta hired a new one? We never really got a reason why. If they are planning on more acquisitions to make Porta a larger market player. Perhaps they chose GT as they are already operating on these other firms?? DW has always stated that he wanted to expand Porta and this was taking a bit longer than his previous company. Are the parts of this puzzle finally slotting into place? Maybe now they have found a way to do this? Look at CAG deal? No cash was involved. Deals could be done offering shares at 9-10p. They may do like they did with Publicasity and take on firms with cash to pay off debt? Much is possible here. (Look how they used their bank balances to fund Porta last year.) As for the overhang here. Ruffers slicing off 20% did not help here. Like many they wanted to take profit at 9-10p. (Or cut their losses.) With HH if the website is to believed they will be cutting their losses. I think they were part of the 13p share issue? I would expect that HH trade to appear sooner or later with an RNS. Normally within 48 hours? Of course this could be a trade deal agreed but maybe the trade has not yet been completed. I suspect it may appear at close of play. Right now may be an excellent time to top up here. Once the II overhang clear there is a decent upside here of 50%. Only needs a decent trading statement in a month or so and things would look very good. If and when the directors buy in again the price should easily rise 10-20%. The only question is are the II done here? Porta could easily turn over 40-45M this year yet the market value sits well under half that at present. Probably as still making a loss. Albeit I suspect only on paper given the A and D mark down in Septembers. Although a lot of costs are going away now. We seem to be waiting on a delayed trade from 10am. Unless MM just marked down share due to market sentiment. (Doubtful.)

Excellent thoughts Adastra. I doubt Ruffers would respond to a private investor about trades. Like you I hope HH are only reducing stake not selling out completely. Interestingly they were trying to raise £25M in last 2 days for new funds. (You could email HH?) What is strange here is none of the directors are buying stock here? Especially when one was happy to buy in at above 9p. Maybe they will take out the HH stake? Maybe they are waiting for II to finish selling? No funds left to invest? Perhaps they are locked out and Steffan Williams is busy at work on new takeovers or merger deals. I really doubt he will be sitting at his desk polishing his boots waiting for something to happen. He is a merger/takeover specialist. I suspect a new investor will buy out HH. It looks bad if the directors are always taking out the stale investors. Hopefully a trading statement in Feb as you suggested. Some news on what they are up to would be great. Help restore some faith in the SP.

Purely based on their website it would appear Hargreaves Hale share in the company has dropped from nearly 9.5% to around 5.58%. That is a 4% drop. Ruffers have dropped from 5.45 to 4.82%. So maybe Ruffers were only adjusting their holdings or are yet to release an RNS? Still leaves a lot of unanswered questions as we have had no RNS relating to HH or Ruffers lately. Yet we have seen nearly 2M shares sold by someone in last 1-2 months with someone else buying up the stock. Plus no director buys in 2-3M to take up the slack. Interesting times. Maybe they will announce a new II soon? Capital Access group have been working on them for a while now.