Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plant. Watch the video here.
Laconic
Coltrane yesterday revealed a new 5.2% stake in the litigation giant.
so, is Wood ford out ???
650,000 shares £6,000,000 buy || @ 910p
Wow
15/10 Woodford had 9.43
28/10 5.02% bought
04/11 5.22% bought
Woodford out ????
Rest of report...
Burford's Ba3 ratings also consider the credit challenges associated with the esoteric and illiquid nature of the company's litigation investments, which have indeterminate realization in terms of both timing and amount, contributing to high expected asset and earnings volatility. About half of the company's income consists of unrealized gains, which also contributes to volatility and weakens earnings quality. Burford's rapid growth adds to operational complexity and execution risk. While Burford's investment yields are strong on average over time, the range of possible outcomes, including total loss, and reliance on estimates of litigation outcomes, albeit rendered by highly experienced attorneys, warrants that the company operate with strong capital and liquidity positions.
Burford's access to debt capital is less developed than many finance companies. The company's niche business is based on specialized and opaque underwriting and investment management that instills a higher level of confidence sensitivity among debt and equity investors than is the case with more established specialty finance sectors. As an additional credit challenge, Burford's governance structure is in transition to better respond to investor concerns.
Burford's outlook is positive, based on Moody's expectation that Burford will diversify its revenues to reduce volatility, improve funding diversity, and strengthen governance while also maintaining strong margins and low leverage, over the next 12-18 months.
WHAT COULD CHANGE THE RATINGS UP/DOWN
Moody's could upgrade Burford's ratings if the company increases earnings and asset stability, including by diversifying income sources; diversifies and strengthens access to debt capital markets, while maintaining currently low leverage levels and strong liquidity; and strengthens governance by advancing planned transitions.
The positive outlook indicates that ratings downgrades are unlikely. However, Moody's could downgrade Burford's ratings if the company increases earnings and asset volatility through more aggressive investment selection; materially weakens liquidity, including by reducing cash balances; and materially increases leverage, narrowing the cushion versus the company's leverage covenant.
Iaconis
I stand corrected. AIM rules are different. Most of my portfolio is FTSE
Thank you
https://www.londonstockexchange.com/traders-and-brokers/rules-regulations/change-and-updates/stock-exchange-notices/2019/n0419_attach2.pdf
It is THREE PERCENT 3% and above
I have posted this before with details from Stock Exchange !!
Morgan Stanley bought the 5% sold last week
10:10:31 to 10:42:45
67 buys, ONE sell
price up 2p
This stock is being forced down. Just look at the spread in early trading...8p,9p
So 2.74% remains....
Woodford still holds 1.56% ??? Why(Sell when winding up in January?maybe)
Calculated from last 2 RNS
You only have to declare if you hold 3% or more !!
HOLDING(S) IN COMPANY
This tends to appear in a table format and shows the name of a company or person buying or selling shares in a stock where they have a holding of 3% or more.
These announcements provide insight into whether someone is building a stake in a business, such as an activist investor who could help to realise hidden value in a stock, or someone who could potentially make a takeover bid down the line.
https://www.sharesmagazine.co.uk/article/understanding-the-different-types-of-stock-market-announcements
Please read the TR1. Blackrock have moved the stock
"No trading in the stock - voting control interest over stock transferred to new manager"
I have also found 7 other companies that the same transfer was affected yesterday
Now Burford <5% RNS
Woodford sold Provident Financial to under 5% today
Price now recovering
Mood obviously now affecting Burford
So why not sell the lot ?
I'm also in Provident Financial (Woodford number 4)FTSE 250 and they are well down today
Still 765p 2.5 hours later .........
765p
Sells for 2 hours and it does not really move ?
Burford Capital cheered by win over oligarch Farkhad Akhmedov
A New York court has provided a rare lift for the under-fire litigation funder Burford Capital by rejecting a case brought by a Russian oligarch against his ex-wife.
The Supreme Court threw out an application by the oil tycoon Farkhad Akhmedov, who had been contesting divorce payments to his ex-wife. Tatiana Akhmedova, who was being funded by Burford, was awarded £450m in 2016 in one of Britain’s biggest-ever settlements.
The judgment is a boost for Burford, whose shares tanked after an attack by short-seller Muddy Waters in August. It was also embarrassed when a senior executive was accused of trading sensitive documents for a sex tape in an unrelated case.
Burford, which is listed in London and valued at about £1.7bn, is a private equity-style vehicle that funds court cases in return for a cut of any proceeds. It supported Akhmedova’s divorce claim with about £15m, in return for a slice of the settlement.
A spokesman for Farkhad Akhmedov said: “‘This is a hollow victory for Tatiana and her backers, Burford Capital, since Mr Akhmedov has no assets in the USA.
“The judgement is, in any case, subject to an appeal which will be pursued.”
Burford’s share price has almost halved since Muddy Waters published a damning dossier claiming it had been misrepresenting returns on investments and that it was, in effect, “insolvent”. The shares closed at £8 on Friday, down from about £14.
Burford was a top holding in Neil Woodford’s £3bn Equity Income fund, which was suspended in June following billions of outflows.
The report prompted Burford to launch an investigation into the trading of its stock, claiming its share price had been manipulated. Last week it launched a case against the London Stock Exchange, hoping to force the disclosure of traders’ identities.
It has appointed lawyers Quinn Emanuel Urquhart & Sullivan to pursue the LSE through the High Court for the traders’ identities.
20-Sep-19 Canaccord Genuity Sell 430.00 378.00 Reiteration
They got their wish....