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Charlesrixon
I think you will find most of the 23mil shares purchased at 620 have already been offloaded into to the market on the 6th August - the volume that day was c19.5mil 620 -657 price range that is about 19mil above average volume.
If you go back to my cynic comment I think this was more about offloading locked up shares than anything else...
Charlesrixon
I think you will find most of the 23mil shares purchased at 620 have already been offloaded into to the market on the 6th August - the volume that day was c19.5mil 620 -657 price range that is about 19mil above average volume.
If you go back to my cynic comment I think this was more about offloading locked up shares than anything else...
Charlesrixon - define reliable - because very few people would actually have a view of that information?
and you reading this as an endorsement is your choice but you don't actually know, we do know that some IIs were happy to sellout at 620 despite the price having reach 787, we don't know who they sold to other than "eligible institutional investors" and we don't know if there were any links to the sellers, if the purchases were to cover shorts, etc etc.... there is a lot of don't knows.
We do know the price is in decline ATM, we do know technical support sits between 500/550, we do know there is now an extra $150m worth of shares saleable in the market.
Lots of random stuuf posted here, I've been investing since the 1990s and would observe the following:
FTSE250 - generally meaningless - SP of companies often initially does poorly upon moving up to FTSE100/250. The biggest benefit is it generally adds stability to the SP and funds and IIs tend to play a longer trade scenario, what it will not do is suddenly accellerate the SP.
The $150m sell - talk of the shares having been sold mainly to private investors is nonsense - read the RNS. Talk of it having gone to existing investors is pure speculation there is no published information. The cynic in me says, the price had gone up much further and quicker than the original IIs had hoped but because of the lockup period were unable to cash in... Now agree a sell with the lockup conditions attached to other IIs and that gives the "Joint Global Coordinators" the option to waive the lockup condition - which they did... So not only do the IIs exit at 620, the new owners can now sell straight to market if they wish. You will note that KKR Dark Aggregator were a seller and KKR Capital Markets one of the Global Coordinators - are they linked? - So is it possible that the sales were to linked IIs whereby, they will happily sell to the market at an aggregate price around or below the 620 ? In this way the shares that were locked up for six months have all been sold during the lockup period, could this be reality? if so they will feed the shares to the market over a number of days/weeks keeping a lid on the price and depressing down...... just a thought of what is possible in these murky waters.
As posted the other day I still see nearest support 500/550 zone
HereKittyKitty
it is to "eligible institutional investors"
What it indicates is that whoever was selling was willing to sell at a discount in order to avoid waiting out the lock-up period, which for most IIs was 6 months from float. Clearly they still made 370p per share, but it also indicates they felt further upside was limited at this time and to be fair whoever bought them thinks there is some upside to be had or are making a long term investment.
Unfortunately, it puts the share price firmly below that 672 support which means support now sits 500/550 zone. I said before I had sold my shares, I will continue to sit on my hands and see how this develops before jumping back in.
gl
HereKittyKitty...
sorry bud you are wrong, it is an II selling a locked in holding from the original IPO to other IIs. The buyers also have to observe the lock in period, meaning they cannot just sell them on the open market.
This downward price movement has little to do with ML imo. The price has made a relentless march north since the IPO, it needs to breath and consolidate, it was very normal behaviour for the pullback from a £2.50 to £7.87 run - do you really think buyers would still be outpacing sellers sitting on large profits at +£7 no chance..... then the inevitable retest, but same situation applies there are a lot of shareholders sitting on large profits they are going to feed sales to realise the profits. Now remember the relentless rise, that left few areas for support on pullback
I think sub £5.50 is a very real probablility atm.
To nail my colours: I missed the IPO and got it at £6.18 sold 66% at £7.54 and the rest today at £7.18 - I will sit it out until we get a decent buying level either by low drop or consolidation break. all the best
I just received my 5p (that's right a 10% rounding down) for the single share I separated into certificate form for the votes.
I take pleasure knowing that..... the 5p cheque will have cost them printing, postage and bank fees .... maybe I got my £1 share after all :)
With the takeover by Anglo American now complete it is time to start looking to see if there are any possible legal options.
I have agreed to chair the Sirius Claim group to look at this with ShareSoc because I believe that this represents the best chance to achieve a positive outcome and I would urge all shareholders past and present to read the update here: https://www.sharesoc.org/sharesoc-news/sirius-update-9-14-march-2020/ and register their details to be part of a future claim if one is made.
If you are already a member of ShareSoc then there is no need to register again.
Regards
Paul
now it is time to start looking to see if there are any possible legal options and put together a claim if there is....
I have agreed to chair a group to look at this for ShareSoc and I would urge all shareholders past and present to read the update here: https://www.sharesoc.org/sharesoc-news/sirius-update-9-14-march-2020/
regards
Paul
now it is time to start looking to see if there are any possible legal options and put together a claim if there is....
I have agreed to chair a group to look at this for ShareSoc and I would urge all shareholders past and present to read the update here: https://www.sharesoc.org/sharesoc-news/sirius-update-9-14-march-2020/
regards
Paul
Hi Scott,
Scott " is there any way we can now start to contrbute into a fund , to assist into legal action / options"
Once we have the legal options sketched out we will look at the various legal firms and funding options. At this stage there would be little point in trying to crowd fund because we don't know how much is needed or if it is the best way to deal with it. It would likely cost significant millions to conduct a case and there are different risks associated with the different methods of funding.
So at this stage I would urge all shareholders past and present to read the update here: https://www.sharesoc.org/sharesoc-news/sirius-update-9-14-march-2020/
With Fridays court hearing now complete it is time to start looking to see if there are any possible legal options.
I have agreed to chair a group to look at this for ShareSoc and I would urge all shareholders past and present to read the update here: https://www.sharesoc.org/sharesoc-news/sirius-update-9-14-march-2020/
regards
Paul Anscombe
Hope to see many of you at the meetings tomorrow.
A big thank you to everyone that has so far taken the survey https://www.fundsirius.com/
and a further massive thanks to those that have donated to our costs https://www.fundsirius.com/ we really appreciate it, all our time has been given freely and they have been very long days and weeks, but there are some things that just need money unfortunately......
It seems that the vote could go either way tomorrow but if the strength of feeling in the nominee shareholders is replicated in that of the individual certificate holders it should be a NO vote.
Interesting that Polygon has now taken a 10% stake, this allows them to block a 100% takeover bid regardless of how anybody else votes, which suggests they are looking for an increased offer imo.
Please keep the surveys coming in and if possible make a small donation to help us with some costs that we need to cover - see https://fundsirius.com/
many thanks
Hi Fred
Thank you for your support it has been more than a full time job so far.
Litigation is something for future consideration based on its merits at the time and is not what I am referring to with current legal costs. We are dealing with a listed company and it is important that we do things correctly and that means we need some legal assistance at this stage to move forward. So I hope people will help. There is a plan but I cannot post it here as we know who is looking regards
Www.fundsirius.com
As you all know the next couple of weeks will be crucial to our campaign.
We are now at a stage where we are incurring some direct costs and legal fees and we need some donations to help us cover these. It is important and we only ask because it is essential to our activity going forward. You can donate via the web site www.fundsirius.com Thank You for your support.