Member Info for LordSnooty

Best call them and ask.

https://web.tmxmoney.com/article.php?newsid=7830218937076562&qm_symbol=APH Extract 5th Feb '18: "Transaction Details The Company divested 26,716,025 shares in Liberty, at a price of $1.25 per share, a discount of approximately 12% to the market close on Friday, in exchange for short-term notes for $33,395,031. The short-term notes are non-interest bearing and due on February 26, 2018. As security for the notes, each of the buyers provided the Company a guarantee. The Transaction also includes a call / put option for the remainder of the Company's shares, which are currently subject to the CSE mandatory escrow requirements. As each new tranche of shares becomes freely trading, the Option Agreement results in the buyers acquiring the newly freely trading shares at an 18% discount to the market price of Liberty, based on Liberty's 10 day volume weighted trading price. As security for the Option Agreement, each of the buyers provided the Company a guarantee. The Transaction includes an opt-out for Aphria's benefit in the event that the Toronto Stock Exchange ("TSX") amends their regulations such that it permits U.S. based cannabis investments and in such instance the Option Agreement would be automatically terminated. In exchange for the opt-out, the Company agrees to pay the buyers, on a pro rated basis, a $2.5 million termination fee. The cost to Aphria of the divested shares was $0.234 per share, resulting in a gain to Aphria of approximately $27 million."

two full days before the AGM then. Looks like any selling has ceased today. Will it come back when we have the almost certain prospect of an up to 25% shares buy back after next Tuesday?

Tasty....

for another tick?

This new buyback mandate, if passed at the AGM, will allow up to 25% of FFWD's shares to be bought back over the period of a year. That's nearly 33m shares, a huge slice which, even without any material change in each of our investees' circumstances, would add 4p to our present SP for the same MCap. But of course, with all the exciting developments in each investee, as detailed by other, excellent posters, we hope for far, far better.

If and when SR1 is approved next Tuesday, I expect the enhanced buy back option, linked with forthcoming news as listed by others here, to kick off a long term, sustainable move northwards.

every time the share price makes progress it is slammed back. I can't explain why but I think this selling will be done by next Tuesday's AGM.

this Russell Geyser character still exiting?

some aggressive selling, sometimes hitting below the bid.

CORRECTION OF NOTICE OF ANNUAL GENERAL MEETING The Company announced on 30th January 2018 a Notice convening the Company's Annual General Meeting ("AGM"). Unfortunately the location of the AGM was incorrect and should have read "The AGM will be held at the Company's registered office, 11 New Street, St Peter Port, Guernsey GY1 1PF on 13th February 2018 at 10.00 am.' The Correction of Notice of the AGM will shortly be available for inspection on the Company's website:www.fstfwd.co.

if FFWD are buying back at the moment, they are both sitting with small amounts on the bid and, less often, hitting up.

*

Ron has signed a five-year "cockerel contract" at Yeovil Town. More follows....

Agreed, but I would say it goes further; Special Resolution 1 is potentially a far large proportion of the total share issue being bought back, and a total, maximum percentage within a certain time frame, none of the maximum price or maximum daily purchase size caveats of the existing programme. If the whole buy back were utilised, at 20p per share average (my arbitrary figure, likely to be far higher) it would cost ~�6.5m to buy back 32.85m shares - ten times the existing programme cost, . As such it announces a firm determination that goes well beyond the existing share buy back, to see the share price at a level appropriate to the value of the portfolio - something the Board thinks it does not do at present.

Averaged over say 250 working days in a year, that's around 130k shares per day, but it's noteworthy that, unlike the Ordinary Resolution, the Special Resolution has no restrictions on percentage or volume of shares bought per day.

It's a little confusing, so let me see if I've got this right: according to Ordinary Resolution 2 of the Meeting of Shareholders pdf, http://fstfwd.co/uploads/documents/inline/pdf/meeting-of-shareholders.pdf, authorisation to buy back 19,934,583 shares is sought, which on our present Voting Shares not held in Treasury figure of 131,350,875 is about 15%. However, Special Resolution 1 seeks authority to buy back up to 25% of shares between the date the resolution is passed (if it is passed) - next Tuesday week, 13th Feb, and the 2019 AGM, which will presumably take place around Feb 2019. Assuming no further buy back by the Company between now and the 13th February this year, that would mean a maximum of ~32.84m shares bought back within one year, and leave us with slightly under 100m shares in issue. If we assume that forthcoming news is good, it would clearly be advantageous for the Company to commence the buy back earlier rather than later, because the SP will be cheaper now than in, say, six months time, and therefore more shares can be bought back. This therefore seems like very good news to me; anyone care to comment?

Elucidate, elaborate.

Please clarify, corroborate, substantiate.

Well, the $25m clearly must have been insisted on by Aphria to deter any further bids, and according to the RNS, we are to believe that Nuuvera's Board were happy to comply. At this stage of development perhaps $25m seems enough to put off another suitor, but what about someone with vision enough to believe five or ten years down the road that figure might look like chickenfeed?