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Got to be one of these whose been selling, often a MM will pick up the big piece and the trade is published, hence the large 5p one but they then still need to clear them.
Owner name No. of shares Share as % of port. Last change Portfolio % change Date of portfolio % Total assets
Janus Henderson Investors Ltd 2,246,405 0.17214 - - 30 Apr 2024 1.23
Law Debenture Corporation 1,716,029 0.01323 - - 30 Apr 2024 0.94
AEGON Scottish Equitable 1,451,340 0.15939 -353 - 30 Apr 2024 0.79
Undrly Scot Eq UK Equity Inc Pen 1,268,623 0.02809 - - 30 Apr 2024 0.69
AEGON Ireland 1,011,187 0.00692 2401 - 30 Apr 2024 0.55
Probably needs 3-4x volume of the sell with traders to do this.
Seller was finished when the 2m trade dropped at 5p last week, since then its been in recovery mode/profit taking from lower levels, stock will become tighter and we will see 20p plus very soon.
Classic bounce
True value is somewhere in the £1-£2 region depending on sentiment and interest. Very comfortable buying something of this scale and profitability at these levels, all from a single clumsy distressed or mandate changed seller.
Love these type of plays, what makes the market great, you dont get opportunity like this often
None listed nor any in the original prospectus either, i did notice a directors sale handled by Arden that was for a decent chunk which they said was placed with new 'institutional' investors a few years back, could have been a source for this large sell.
I have seen funds sell at crazy levels with no market awareness in the past on other stocks. Just imagine trying to sell 2m of these, especially if you didn't give two you know whats for the price you got.
Either that or simply someone/fund just sold the 2m+ piece that went through at 5p last week. The sell being very unsophisticated and the market found a MM that was happy at 5p to take it.
Could have been a fund (sub 3%) that had to sell due top an investment mandate issue i.e. oil and gas.
I wouldn't think you would drop such an obvious sale on 'insider knowledge' too obvious. All the other trades we have seen around this 2m are connected due to without this trade the floor would not have been found.
Company should make a statement though. Simply we had a single seller and no of no other reason, trading in line with previous published results