Off Topic -15 Jul 2020 07:08
Yesterday at 08:32 I posted this bit of info as to the reason for Philip Taylor selling 3% of his total holding, as a buy the way point!
"He sold 1 Million of his 32 Million to achieve his purchase price and is now on a free carry for the remaining 31 Million, very well played Philip Taylor..."
This caused some very amusing responses from some posters who should have known better :-
' why is a director selling some shares' ...
Philip Taylor is NOT a director or affiliated with the company but just a private investor ...
' How do I know this' ...
Form 8.3 is for NON-company directors to declare their personal holding above 1% as directors holdings are already in the public domain ...
'How did I work this out'
On July 2nd he declared his personal holding of 32,000,000 shares, worth at the time x 7.2p about = £2,304,000.
Now
On July 13th he declared his personal holding was now only 31,000,000 shares, worth at the time x 17.6p about = £5,456,000 or in plain English a gain of about = £3,152,000 in a few days.
Finding himself in this very enviable position he took the astute decision to fully de-risk his investment at minimal cost, if we assume he paid about 0.5p per share we get to a figure of 32,000,000 x 0.5p = £160,000 for the initial purchase.
If we take the fact he sold 1,000,000 shares at about 16.0p we get to = £160,000 for the total sale.
Can we now see the logic, his remaining 31,000,000 shares have cost him NOTHING and so he is in for a free ride, and why I said very well played Mr. Philip Taylor?
Oh, and by the way, he stated as such...
Have a good day all and good luck, we should have all played this as Mr. Philip Taylor has done if we wanted a chance to become multi-millionaires at NO cost ...
Ian
Sign In
Follow the stocks
