RE: Monday morning.20 Jun 2020 09:37
EyeGUY
I have collated them here for you but guys go and like and follow this bloke he knows his onions but did want the main items to get lost in tweets
#TOM- 1. Few questions about this. Always assume all of the placing is forward sold. That means that for TOM 375 million shares are sold over 4 days ie shorted. The placee then returns the shares to their broker on admission day which is the close of their short. Working out how....
#TOM 2. .... many people are short. Well. 2 factors. First, the number of shares in the placing is AN ADDITIONAL 375 million compared to the 276 million they have. Ie of everyone is short there are not the shares to go around. You couldn’t buy them back because they don’t exist..
#TOM 3. The admission date is only 4 trading days from 17th June. That is important as the placee would need to sell all shares before this point to be able to close their short and not actually pay for the shares upfront. The shares need to be returned to the broker before this
#TOM 4 .. date. The volume on 17th June is not indicative of the true volume as large trades would be delayed and not showing and many sells would also have partial trades and not show either. Based on the fact that... 1. Places number of shares (now cancelled) exceeds total no..
#TOM 5 .. of shares in issue, and 2. Admission day is only 4 days from placing date, my feeling is that a lot are still short even though this cannot be proven. My small stake in at 1.03 is staying in for now.