Member Info for Moneymunch

Significant Shareholders held 74.4%, , AXA reduced their holding by 1.45% and City Financial Absolute reduced theirs by 4.18% but collectively still hold 68.77% of all shares and it appears that AXA and City FAE are not selling anymore for the time being, the majority of shares from the remaining shares in free float now appear to be tightly held in anticipation of the Shandong deal completion, and so the sp can move up swiftly on modest buying pressure and so one can imagine an improvement in sp as we get closer to the end of the month on confirmation of £12.7m cash in the and Shandong’s 54% controlling stake. Gla holders;-)

Significant Shareholders - as at 31 July 2018

Shares Not in Public Hands

Insofar as it is aware, as at 31 July 2018, 56.78% of the Company's AIM securities were not in public hands.

NOTE: Bagir Group Ltd. is an Israeli company. Therefore, the rights of shareholders may differ from the rights of shareholders in a UK incorporated company.

http://www.bagir.com/html/Rule_StockInfo.html

Not too sure at this stage of events and I can't imagine that many shareholders would object, although Bagir did confirm that EGM would be required and I spoke to Bagir's London office by telephone a week or so ago and asked if an EGM would be required, and was told that that's the plan. Gl ;-)

There was some debate on whether or not an EGM would be required to rubber stamp the Shandong deal for shareholder approval, Bagir had confirmed in their accounts that this would be the case......the deal has been in the pipeline for over 6 months now and Shandong have made two $1.65m payments in January and in July to endorse their commitment and final payment of $13.2m end August ....a 14 day notice of an EGM would normally be required and therefore every chance of confirmation this week....in which case the market is likely to react very positively to an EGM Rns imho, indicating that the deal is near enough a done deal. Gla :-)

Lol...well I've just tried a dummy sell for 2m , again, and offered sell quote immediately.....looks like they want my shares in run up to fair value on receipt of £12.7m cash in the bank in a couple of weeks or so, priced at 3.5p a share. Gla holders:-)

Just did a dummy sell via ii.co.uk for 2m and offered quote immediately....they want my shares!!! Gla :-)

There are trades very often that are priced between obvious sells or obvious buys and are listed in their own ? Column....which adds to the volume and discrepcy between the buys and sells listed. He:-)

Fair value will prevail.....Cash is King. ...Gl:-)

Bagir ahead of the curve with their 100% owned Ethiopian textile/apparel manufacturing base that so interests Shandong Ruyi...Gla holders Bagir's prospects and potential look very exciting with one of the world’s largest textile companies just about to take a 54% controlling stake in the business..On and Up!!! :-)

Ethiopia is gearing for future growth as its close relationship with China begins to bear fruit. As a major linchpin on China’s Belt and Road Initiative and a major recipient of Chinese investment, Ethiopia’s foreign direct investment reached $4.2 billion in the 2016-17 fiscal year.

Made in Ethiopia

Between 2004 to 2014, Ethiopia experienced per capita growth of 8% per yearand a manufacturing sector that sped ahead at 11%. Unlike many African nations that have primarily counted on exporting commodities and abundant natural resources to fuel their growth, Ethiopia is resource-poor and landlocked. However, by closely following the Chinese model of state-led economic growth, the Ethiopian government has been able to engineer the foundation of a nascent industrialization that has seen it become the manufacturing hub of Africa.

This orientation began under the late prime minister Meles Zenawi, who ruled the country from 1995 to 2012 and expressed great admiration for the development models of East Asian nations. By combining state-led investment in good infrastructure and industrial zones with policies that were friendly to investors, Ethiopia began to emerge from the shadows of war and famine into a period of rapid economic growth.

Since then the nation’s policymaking has been devoted to building up light industries such as apparel manufacturing, construction, and agricultural processing as a stepping stone to growth, as many East Asian nations have done. In one massive industrial park, Hawassa, 18 companies from more than 11 countries operate factories in an area of more than 140 hectares  equipped with its own water-treatment plant and textile mill. The park is expected to create more than 60,000 jobs once it reaches full capacity.

As China’s gargantuan manufacturing industry shifts toward high-technology products, a potential windfall of 85 million jobs may be shifted toward Africa. With a burgeoning population of more than 100 million and heavy investments in building public and industrial infrastructure, Ethiopia is well placed to receive many of these jobs.

Very soon, Made in China may slowly give way to Made in Ethiopia.

http://www.atimes.com/ethiopia-becoming-an-industrial-powerhouse-and-future-wakanda/

Number 6 top riser so far this morning. Gla :-)

Probably the City boys shorting the initial spike perhaps, City Financial Absolute Equity reduced their holding by 10.6m shares ( 3.65% ) which would have facilitated the drop, and so maybe they shorted the stock at the same time...not sure about AXA as they sold 1.45% before the spike and were very prompt in informing the market.....any way, that's how the Aim market generally works, but all short positions ( if any ) will be closed in run up to deal completion and the receipt of £12.7m cash in the bank priced at 3.5p a share. Gla holders...fair value will prevail. :-)

A lot of pi's jumped on board that drove the sp up and a lot sold out at a loss as the sp dropped and drove the sp lower in the process...... the 2 institutions selling, AXA have had a change in business strategy , although as far as we know have only reduced their holding by 1.45% ( their timing was crap, as it was a few days before the Shandong Rns, and it seems pretty obvious why City FAE, might have needed some cash.....in the meantime Bagir will re-rate accordingly with confirmation of £12.7m cash in the bank end of this month and will re-rate again from there as Shandong unveil their expansion plans for Bagir in thereafter.....they will be keen to develop the Ethiopian factory to full capacity and no doubt will use its cost effectiveness for increased Bagir's order book with new and significant business opportunities to service Shandong 's global textile empire... Gl holders :-)

.....

City Financial Absolute Equity was the worst performer of the IA peer group in the second quarter of 2018, losing over a fifth of its value in the period. A long short fund, with a skew to smaller companies, the losses in the short book have been a major factor in the returns.

https://www.professionaladviser.com/professional-adviser/opinion/3035905/fund-watch-ia-sector-trends-from-q2-2018

handong Ruyi is expected to make substantial cost savings from the deal. Itzthak said the numbers spoke for themselves: "In China the cost make per suit is $18, which is not duty-free “ when it comes to the US, theres an added 28% on top of costs. But the cost per suit in Ethiopia is between $3-$5, and its duty-free to the US and Europe."

https://www.drapersonline.com/news/bagir-takes-aim-at-high-end-market-with-shandong-ruyi-deal/7027739.article

The Directors of Bagir believe that through forming this strategic partnership with Shandong Ruyi together with the significant increase in capital, the transaction has the potential to transform the Company and its ability to compete and win major apparel manufacturing contracts from the world’s largest retailers.

The Directors rationale for the transaction is as follows:
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Shandong Ruyi has substantial retail/textile investments globally and is therefore well positioned to provide Bagir with significant new commercial opportunities.
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The new capital will be used partly to expand significantly the suit trouser and establish the jacket production lines in the Companys duty free and cost-competitive Ethiopian manufacturing base enhance R&D and innovation activities
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Provide the working capital to support the growth
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Shandong Ruyi and Bagir will evaluate ways in which Shandong Ruyi can provide additional future operational support to Bagir.

th AFRICA SOURCING AND FASHION WEEK (ASFW) will open doors from 1st until 4th October 2018 to the entire cotton, textile, apparel, leather, technology and home décor industry incl. whole sale, retail, boutique stores and the hospitality industry.

Currently the textile and apparel sector in Ethiopia employs 47.000 people. According to government plans the number of skilled labor will increase to 350.000 within the next 5 years in 12 industrial parks. Two of the already operating industrial parks are environmentally friendly. The Ethiopian government has declared economic initiatives through opening state owned companies to foreign investors or shareholders. This will help the country in professionalization of the state owned companies and bring in foreign currency. This initiative and the recent peace process with the neighbouring country Eritrea has brought positive echo from various governments of the world including the UN, IGAD (Intergovernmental Authority on Development) and Africa Union.

Ethiopia plans to establish itself as a new center for the international textile industry. For 2018, the government expects an export volume of $1 billion. According to the plans of the Ethiopian government, by 2025 the country should reach a middle-income status and become the largest production hub in Africa. In addition, a lot of investments for the infrastructure are already made and are still planned. Tax advantages and cheap loans should attract investors. Europe and the U.S. are supporting trade with favorable customs conditions and infrastructure projects. Investors benefit from low wages and energy costs. ASFWs conference takes up the topic of investment by a panel presented by the government of Ethiopia.

https://www.whichplm.com/africa-sourcing-and-fashion-week-2018/

Lol...the shorting scumbags obviously got their fingers burnt and needed the cash to bolster their p1ss poor finances...ho ho ho ;-)

ps...BIG bounce coming imho.....Fill ya Boots!!!

We don't know if City Financial Absolute Equity were shorting it, but because of their shorting activities elsewhere they no doubt needed cash to bolster their finances. Gl ;-)

Bank of New York Mellon Corp. fell the most in two years after Chief Executive Officer Charles Scharf said that investors looking for a quick improvement in the bank’s performance needed to be patient.

“We are focused on increasing the rate of revenue growth,” he said on a conference call. “Given the nature of our business it takes time.” Scharf also painted a mixed picture of the business, saying there were “pockets of strength,” as well as “softness,” in the investment management unit which experienced outflows.

https://www.bloomberg.com/news/articles/2018-07-19/bny-mellon-s-scharf-achieves-modest-growth-in-first-year-as-ceo

City Financial Absolute Equity was the worst performer of the IA peer group in the second quarter of 2018, losing over a fifth of its value in the period. A long short fund, with a skew to smaller companies, the losses in the short book have been a major factor in the returns.

https://www.professionaladviser.com/professional-adviser/opinion/3035905/fund-watch-ia-sector-trends-from-q2-2018

Commenting on the development, Eran Itzhak, Chief Executive Officer of Bagir said in a statement: “The Shandong Ruyi Group team recognises the strength and experience that we have across our business and it is our advanced position in Ethiopia which they have identified as providing them with a global strategic advantage. With Shandong Ruyi Group as a key shareholder and partner we believe that Bagir will be best placed to exploit the opportunity presented by our Ethiopian manufacturing base far quicker and with more certainty than we could independently.”

https://www.investegate.co.uk/argo-blockchain-plc/rns/publication-of-a-prospectus---results-of-placing/201807301823472278W/