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Bocasefarm.....for every buyer there's seller! Depends whether your broker hit a price posted or whether posted and got hit....
Big tickets in the auction, hopefully we start to see some institutional buying now. With the limited free float (factoring in Saefox’s holding) shouldn’t take too much for us to finally get to somewhere near fair value. At the current deleveraging rate and increases date rates, the prospect of divi looks very realistic and would bring more interest into the recovery story. I was sceptical about the new management when they were brought in by SF, but they have done a v good job over the last two years.
Morning all, has anyone run any numbers on this recently? I have to admit I’ve got a bit board with this one and just parked my holding in the maybe one day bucket! Always seemed like the leverage and financing costs where the anchor, is there some light on the horizon? ?
Much better volume today, the bigger the tickets the better.....I stand by previous comments of some insider action before any major moves, so will keep an eye on ticket size....good luck all that have been in this as long as I have !!!
Not uncommon for a placing to be executed at a premium to prevailing price on illiquid names as they are strategic investments. Even the last couple of days the notional traded is only c. £600k so puts into context what getting $25m away would take. Seafox have said they will take up their allocation which would maintain their percentage holding not take them above the threshold for mandatory bid.
Are SF free to bid whatever they like now or are they still in a closed window? I've completely lost track of the timings. Just wondering whether the BOD are dragging things out in order for a SF bid to be lodged at the current price. You would think this would pop if the finance deal was announced which would make a bid at 22p harder to get through.