Member Info for Monkshood

I was also puzzled, why, after saying that there was no rush to raise the money - they rushed.
Was it II pressure to get it resolved and steady the share price (not that it has happened so far)?
Was it the best time in case there is a hard Brexit?
Is the FCA report damaging?
Is the FCA report not due until too late for them to need to have raised the money?
Is there something not too good in the results?
I do not believe the latter as I think that they would have needed to disclose it in the bond prospectus.
FCA delay/or worse than expected -are possible - but it was interesting that the 'uncertainty' that seemed to cause problems with the first bond launch went away with another 2% on the coupon and Vernon publicly committing to leaving (again).
Or is there another reason?

I cannot see them being rattled by a confirmation of what we all knew.
I am more interested in what lays behind the ' Such actions could include, but are not limited to, further inorganic measures such as asset sales or securitisation.' in the successful placing rns couple of days ago. I am sure it is in there for a reason.

I think that there is no question that it wins on this today, opens at 180, drops to 166 then rises to 244 - not sure where it will end today though.

I clearly should have done, but hey ho, you have to do what you feel comfortable with. Still have a small holding so making some from the rise. I do genuinely feel glad for those longer term holders that were (still are) a long way down on this as today will help a lot and should hopefully start redressing their losses.

Is this the most volatile share in the FTSE? It certainly feels like it sometimes (well actually nearly every day).

Quite probably, but if I miss on the upside it has a long way to go so plenty of time to jump in. If on the downside, I am not using core funds anymore for metro so less bothered.

point taken..

ENA closed on Thursday, so a day before the price rise.

malu, could I apologise to you for accusing you of trolling for the shorters a while back, it is clear that this now was not the case although your post's at the time (along with just joining) did rather make it look that way.

Good to see you in a better place this week Cud. Last week was hard, like you I was expecting a good rise, we had endured weeks of downward pressure and then enjoyed the steady (although rather bumpy ) rise form 250 to 300. The end of tracker sells had left things looking to be nicely set up. so the reversal, was that much harder to take. We should probably have not dismissed the mention about the broadening of the FCA inquiries in the bond prospectus , as readily as we did, (remember the 'not new news tread'? ) but their other bonds were not showing any issues at that time so it was not an unreasonable view.
It looks like it was shorting, rather than broader sentiment, that took it down both initially the next day and probably also took out the attempted bounce back (as was much of the drive down from 400).
Whilst I still think that this has a long way to go up I have sold out quite a large part both on Friday and today, with averaging down then up, I was far too exposed in it for my comfort ; I think that until the FCA report is out, there is more clarity about mrel and Brexit it is likely to be bounced around by shorting.
I have taken a bigger loss than I would like ...but I still have a holding, although much reduced, and will add as things become clearer. This share is too much of a roller coaster for me.

I agree in as much as this seems to be the reason that the bond sales faltered. But can you see the FCA levying a fine so large that it made the company insolvent? It would be rather self defeating of the regulator. What it does need to do is get the matter closed ASAP, even with a large fine, the resultant clarity will do a lot to start things moving in the correct direction again.

We would probably, have been looking at around 320p today, if they had not screwed up the bond issue. Why did that stall? it seems because of the overhanging FCA issue; the whole thing was then made worse by the way it was handled (or rather not) by the management.
Once the FCA report is out and likely, now after the results, we should see them releasee the bonds again, hopefully this time with no problems. I assume the pressure is now on the FCA to report ASAP, even a big fine, but with clarity, will be better than the current situation.
I was expecting it to make it back into the FTSE 250I next rebalance, I cannot see that happening now after this week’s debacle, however it is fundamentally no different than it was when they placed the shares at 500p so hopefully we should eventually get back there but far more slowly than it should have been.

Malu only pops up when the price needs tapping back...

"the shorters just know how to read the markets better"
I am not sure I agree there , when the shorts were taken out, the were too many other variables outside their control for the shorters to have been able to predict this specifically.
The problem this time appears to be issuing the bonds with the FCA investigation still ongoing - this timing of the bonds was down to metro (other than it needed to be before year end) . It seems more like it was a poor BOD/advisors decision to both issue then withdraw the issuance at this time. The most predictable element seems to be that the BOD's will mess up whatever they do...maybe that is what the shorters rely on.

It worked for me, but unfortunately ,I do not think the amount I was able purchase will have much of an impact....

Small cap index also had its final rebalance was on Friday, why would they be buying tomorrow?
I was wondering why the volumes for some companies seemed much greater on rebalance than for others. Realised that quite a lot of active funds also have a restriction on shares only being in 350. This means that 'ex-popular' shares would also have to be sold off, although they would have a longer run in as no need for max tracking accuracy

Surely the suspension on Friday was just the volume being traded, it was 28x a typical daily vol in July. The problem of having such large closing auctions has been in focus lately .

‘In its annual risk assessment on July 2, the AMF warned of the potential for greater volatility during the day and even so-called flash-crash events, when markets can go from calm to chaotic and back in an instant.
The regulator also said the shift (to increased trading in the closing auction)risks a “deterioration” of price formation, the process through which prices are determined efficiently. AMF chairman Robert Ophèle told Financial News the regulator’s stance is to “monitor as closely as possible but to refrain from reacting too swiftly” ‘.
From
https://www.marketwatch.com/story/killing-time-the-closing-auction-is-eating-the-trading-day-2019-07-17

Problems with posting on here today - Saga went out at the previous rebalance, it dropped down to 35p on the last day of the rebalance then rose steadily (ish) to 50p in the following weeks. Large volumes with that on final days but not as great as with metro yesterday, but it was not being heavily shorted like metro.

Posts seem to vanish into the ether at the moment - I blame the shorters…

Or is this one of the first two (please excuse my ignorance...)