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It looks like Amati has been the "big" seller in the market, with their holdings falling from 10.35% to 5.95% according to the TR-1 statement that has just popped up. This leaves Lansdowne at the top of the shareholder tree by a significant margin, followed by Ervington. Hopefully we see some positive news flow less downward / selling pressure enables the share to rise back into double digits soon.
Do Shell or IAG have an equity interest? Is this something they would do on the open market?
READS FURTHER: District court granted Defendants' motion to dismiss
Background
This class action was filed on behalf of a class of all persons and entities who invested in certain funds managed or offered by Union Bancaire Privée (“UBP”) that were invested, directly or indirectly, with Bernard Madoff Investment Securities. The Complaint alleges that defendants, including UBP, UBP Asset Management and certain of their officers breached their fiduciary duties to investors by failing to conduct adequate due diligence prior to investing with Madoff and during the course of the investment. Upon the disclosure that Madoff was in fact operating a massive Ponzi scheme, UBP informed its investors that the UBP funds invested with Madoff had incurred massive losses.
On March 10, 2010, the district court granted Defendants' motion to dismiss. Plaintiff appealed this decision to the Second Circuit, and the appeal was pending at the time the agreement to settle was reached. If the Settlement is approved, the parties will stipulate to the dismissal of Plaintiff’s appeal and the district court’s order dismissing the claims will remain in the effect.
Please note that the proposed Settlement resolves only the claims of Settlement Class Members and only Settlement Class Members will be eligible for compensation under the Settlement. Investors in other UBP funds who were not investors in Selectinvest ARV LP are not included in the Settlement Class; their claims, if any, against Defendants are not released pursuant to the Settlement, and are not eligible for compensation under the Settlement.
That is correct. Please forgive the below cut and paste from the same website. Frauds are awful and a victory for on one that this was settled for 1% of the original claim. Madoff's 150 years was far too kind.
READS: Plaintiff Andrea Barron on behalf of herself and the Settlement Class has reached a settlement of the action with Defendants for a total of $6,900,000 in cash that resolves all claims in this action brought by Settlement Class Members. The Settlement Class consists of all persons and entities who held limited partnership interests in Selectinvest ARV LP as of December 11, 2008 and were damaged thereby except for (a) certain persons and entities affiliated with the Defendants that are excluded from the class by definition, and (b) persons and entities that previously submitted a release of claims concerning Selectinvest ARV LP’s investment in Ascot Partners L.P.
Settlement Class Members identified by Defendants have been mailed a Notice of the Settlement and a Claim Form with important information about the Settlement and how Settlement Class Members may submit a claim for payment under the Settlement. Additional copies of the Notice and Claim Form may be downloaded from the Case Documents page of this website.
On December 12, 2012, Judge Thomas P. Griesa approved the Settlement and the Plan of Allocation as fair, reasonable and adequate, and approved Plaintiff's Counsel's motion for attorneys' fees and expenses.
I worked with MdP in the past and did not know he was involved with AML prior to this post. He is a VERY talented man and an excellent investor. This bit of information gives me a lot more confidence in my decision to invest. The DBX is by far the best looking SSUV (soon to be) on the market and with AMG running gear, Mercedes cabin technology and a beautiful Aston Martin interior, it is sure to be a success. Shame I cannot afford one. The global economy is naturally a headwind at present, but AML seems to be doing the right things to cut costs and has an excellent management team in place.
Frustrating release from Dow Jones, given what I thought was a very positive RNS:
(Dow Jones) -- Velocys PLC said on Friday that it expects to report a fall in revenue and a narrowed underlying operating loss for 2019, and that it intends to release its annual report and audited accounts for the year in early August.
The U.K. sustainable-fuel-technology company said that it expects to report revenue of 300,000 pounds ($372,630) compared with revenue of GBP700,000 for 2018.
The company said that it expects an operating loss before exceptional items including a credit of GBP100,000 related to impairments, of GBP9.8 million, compared with a loss of GBP18.6 million before exceptional items of GBP10.1 million.
Yes, reads very well and highlights a number of key deliverables for this month, which (if met) will feed the current fire of momentum. Not a forecast, but I would not be surprised if this goes through 20p before month end !
Sorry - spinning OFF
It seems that CQS is also spinning of the equity component of DO fund, which may have forced the sale of Velocys and other shares:
https://www.pionline.com/money-management/cqs-spins-equity-hedge-fund-arm
The Directional Opportunities Fund has suffered massive losses in recent months, so may be selling to fund redemptions, or being a hedge fund, it may have been forced to cut risk based on some sort of volatility constraint, such as VAR.
Very well said, Sean83. Part of the problem is also share ownership. The AIM listing keeps many of the big and potentially more stable investors at bay and Velocys has not done enough to raise its profile sufficiently to garner a wider following of retail investors (or inspire those institutional investors to take an off benchmark bet). There are many risks, but this is an exciting project and it would be great for the UK to make a success of it.
News just broke on Bloomberg / Business live, now we need the mainstream press to pay some attention.
Let's get that RNS out quickly and carry on the momentum. The wider world needs to know this is happening for the stock to really fly.
Let's hope that translates into a decent upward move - for the long and short term investors on this board. I am really quite surprised by the sideways price action today given the news.
https://www.business-live.co.uk/manufacturing/shell-british-airways-green-fuel-18245083
Gobsmacked this is still down >10%
Some good news... and a £1 strike ? ?
https://www.velocys.com/2020/05/12/jda-extension-with-british-airways-and-shell-signed/
Hit 9p, fell back to 8p even faster and now back on its way to 9p (and beyond??) just as quickly !
https://www.velocys.com/2020/04/02/local-mps-reiterate-support-for-altalto-project/
I am not sure if this or anything is enough to move the share price (up), but it is good to know.
Yes, fair point. Patience is indeed a virtue.
16 trades today and only one meaningfully over £5k. The price action is very strange. Even if you combined all today's sales, a single day trader who bought at the end of December low wouldn't have made much of a profit.