The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
OTC is a tiered market. Here’s how that system works:
OTCQX
The OTCQX Market is the top tier, with the most stringent entry requirements. According to OTC Markets, companies trading on OTCQX must “meet high financial standards, follow best practice corporate governance, demonstrate compliance with U.S. securities laws, be current in their disclosure, and have a professional third-party sponsor introduction.”
More specifically, these companies must meet a reporting standard in terms of how they report financial information. They must also have a board of directors with at least two independent directors, an audit committee that conducts annual financial audits, have annual shareholders meetings and release annual financial reports 15 days prior to each meeting.
Companies that are penny stocks, shells, or are in bankruptcy are excluded from trading on this tier.
Over 400 companies trade on OTCQX, including Swiss pharmaceutical conglomerate Roche (OTCQX: RHHBF) (OTCQX: RHHBY) (OTCQX: RHHVF), the French global communications company Publicis Groupe S.A. (OTCQX: PUBGY) (OTCQX: PGPEF) and Grayscale’s Investment the Bitcoin Investment Trust (OTCQX: GBTC).
OTCQB
The middle tier of OTC Markets – OTCQB – is known as The Venture Market. Companies that trade on this tier are in their early stages, and therefore, may not be able to meet the financial or regulatory requirements required by the exchanges or OTCQX.
To be eligible for OTCQB, companies must be current in their financial reporting, undergo an annual verification and management certification process, and have a bid price of at least $0.01. They also cannot be in bankruptcy. Over 900 companies trade on the OTCQB Market.
Pink
The Pink Open Market provides brokers a platform for transparent trading in any security. The widest spectrum of companies trade on the Pink Market, including those that are bankrupt or not current in their disclosures with the SEC or their home country exchange.
Above from https://finance.yahoo.com/news/otcqx-vs-otcqb-vs-pink-171211773.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAACG-uQDjLSguOIxmVZapNIoN_rgvTpP2L09zkhinNCdDMWDwn-rvA0yNdIeno-VSXrRjYTMI8edRcHvkRNAwC5wBwe5y8tPy7f5RrreWoX2CsqKgufcXHtG6Zn8Y4Pye2lDlBY-MwS52h0GJSuT-S-pFIUkAEj0GbkOqwND4y7rC
Just reposting poyntz link. Definitely worth a listen
https://www.pscp.tv/w/1ZkKzerNdvrxv?t=2m20s
Senator
The article given at link below, by aimranger and posted by cotty on this board, appears to be a valid explanation for the short :
https://twitter.com/AIMRANGER1/status/1380880844542377988?s=20
All explained here
Thanks for the explanation Cotty.
Why would Lombard Odier, who are Echo's main lender and with whom the debt restructuring deal was concluded last week, decide to open a large short one week after conclusion of the agreement? Your thoughts would be very welcome.
Many thanks Purney
Apologies it's from last year!
https://www.proactiveinvestors.co.uk/companies/amp/news/914312
"....The drilling and data acquisition operations of the State 16-2 well provided 113 feet of Cane Creek core, as well as 31 sidewall cores from 11 overlying reservoirs. These core samples are currently under evaluation at a laboratory in Houston where detailed analysis is being conducted. The initial results from that analysis will be available in the coming days."
Re-posting idiot441's original post (thanks):
Utah Geological Survey Board MeetingWed 23:15
https://m.youtube.com/watch?v=yAX1wfIDWsA&feature=youtu.be
2hr 27mins in... 10 mins on ZPHR
Perhaps they should RNS... even if it's just to "note" the update and again reiterate they awaited the tech analysis?
But may help explain some chunky buying??
Bear in mind this is not a dilutiionary placing. This is effectively a request for offers to buy 12% of a profitable company which pays a dividend. If there is a single party interested they would be buying a 12% stake in the company. Let's hope some of the larger institutions see this as an opportunity.
https://newbusinessethiopia.com/mining/ethiopia-plans-producing-137000-kilograms-of-gold/
Smellyben....if you're not shorting Kefi, please could you explain why you pasted an Issue of Equity RNS from last October and tried to make it appear as though it was for this October by labelling it "October RNS landed" ?
Simple question, are you shorting Kefi?
What's your agenda Smellyben? Either you have been burnt badly in the past in which case it's best to look forwards and move on, or you are shorting Kefi.
A reminder to what you said just a few days ago:
"Smellyben
Posted in: KEFI
Posts: 582
Price: 2.14
No Opinion
RE: False rumours13 Oct 2020 17:59
No worries - I blame Trump for most things too - I'm outta here until the next RNS (unless someone attacks me or makes a blatant lie to ramp up the share price)"
From:
xxxxx...https://www.marketscreener.com/quote/stock/KEFI-GOLD-AND-COPPER-PLC-56171666/company/
Shareholders
Name Equities %
RAB Capital Ltd. (Investment Management) 199,931,743 10.7%
William Phillip Seymour Richards 55,816,612 2.99%
SpreadEx Ltd. 54,285,157 2.91%
Aristidis Eleftherios Anagnostaras-Adams 25,981,310 1.39%
John Edward Leach 14,525,743 0.78%
Norman Arthur Ling 2,295,486 0.12%
Mark Tyler 2,000,000 0.11%
Richard L. Robinson 1,000,000 0.054%
The RNS from 24 Aug 2018 states the following :
"The initial subscription of US$9 million (of the US$30-35 million) will be set aside into a locked account, with settlement commencing 31 August 2018 and completed no later than 30 September 2018 along with commitment to the full amount being invested by year-end alongside full project finance commitments. The ANS Resources founders’ US$3 million subscription has already been committed.
Disbursement of the initial subscription funds is earmarked to commence any time from October 2018, to fund TKGM’s project finance closing costs and the first phase of the Tulu Kapi community resettlement, when triggered by the Regional Government of Oromia in consulation with TKGM. TKGM plans to use these equity funds for the initial project expenditures, with debt drawdown to follow."
Are we still waiting ??
Seems ANS are struggling to get the monies. Hence the African Banks coming in on the scene with the last RNS. Suspect ANS have been given a deadline . If ANS aren't able to get the funds, another source of funds will need to be found - perhaps the African Banks. AIMHO. This could mean a further delay - perhaps there is a Placing coming up.