Member Info for NAV_Mike

I suspect it is because the market is more cautious on HBR currently due to the perceived future placings that could be coming along from EIG, LLOG and BASF. The latter are probably selling down on a daily basis as well judging by last weeks RNS

.....and in the blink of an eye, Brent drops a couple of bucks and we go from +6 to -1

Man this stock is unloved at the mo

Im afraid that despite all the positives currently working in HBR's favour, Mr.Market currently views our company as a succession of overhangs waiting to be cleared.

NSS

Im not quite sure I would put LLOG in the "unwanted" category (just yet)

Unlike BASF they are hopefully looking to build a long term working relationship. Having sold their company to HBR its perhaps only natural the vendors were seeking to maximise cash early on. (Bird in the hand etc etc)

Of course I could be wrong and they will head for the hills as soon as the lock in expires. I just have a feeling they wont

Although its welcome to see BASF reducing, its not hard to see now why the share price has been unable to make any progress. Assuming 8m shares have been drip fed through the market (not off it), thats a constant drag on the shareprice at a time when we should have been well past £3

In fact when I think about it, the only real ones to benefit since the war broke out, are those who wanted to dump large quantities of shares. The rest of us must hope that the market cannot ignore economic facts when the results come out.

Yes its a reduction of around 17m shares. I know they didnt previously sell all their non locked in shares but I didnt think they had that many left

Possibly linked to yesterday large matched pair of trades?

End of this month marks the halfway point in the current financial year

Would be nice to have some actual positive news to debate, other than one of SB's enthusiastic monologue into camera :)

Dont LetterOne hold a position in the ordinary shares as well? Could they have adjusted for that?

On the face of it, a calculation based solely on unadjusted mcap would have seen us promoted, but as others have stated, our previous promotion ended up a disaster, so c'est la vie

Still an issue for me, however turning off my Avast AV allows access, so the site is setting of false positives

I will rely on others for safe links...not surfing without protection :)

I think the concensus view from previous discussions are that these are off market transfers between instis or separate funds.

Of course in the shadow of recent large transactioons, a mere 2.9m is almost trivial lol :)

Yes mate I know you are right. My initial caution re the possibility of warrant conversion came about when the share price hit 25p - this being a doubling of the conversion price

IF all this has been warrant related, SAR can only file a RNS once they receive the conversion notice. If the holder decides to deal with the sell side first, there could be delay

Then again, could just be someone selling out for entirely different reasons

Well I think AI on this occasion is wrong to include the NV Letterone shares, and it appears so does the FTSE250 list from today:

https://www.londonstockexchange.com/indices/ftse-250/constituents/table

If you sort by mcap, HBR is third. If we are excluded it will be for another reason(s)

Well the current FTSE250 list has us third ahead of Investec, which was one of the three on the provisional promotion list.

I presume our current confusion relates to the LetterOne non-voting shares? The voting rights RNS yesterday stated 1.579bn shares and that multiplied by 2.798 = £4.42bn (ish)

Or are we talking about some shares subject to a lock-in agreement? (which would seem unfair)

Well its either warrant related or someone's bottle has gone. Another 100k from earlier just showed up

I make that 300k in round number trades and 270.3k yesterday

(sigh)

We seem to have the "why now" discussion every time warrants get converted, but yes it seems particularly pertinent now

Perhaps its a risk mitigation strategy, where they sell shares now and only replace them with cheaper warrant ones, if news is good?

Are there any warrant expiry dates that would be relevant here? (sorry as I think thats been answered recently)

Make that 3 x 50k today and a resulting price dip :(

Agree Laz, but I do wonder if a warrant trade is still being worked?

In addition to the 270k yesterday, we had 4 x 25k, and 2 x 50k today. Pure guesswork and probably bs :)

As you say, they wouldnt be offering to take 100k+ at a premium to bid if they were aware of imminent doom and gloom

Laz

270k @ 22.1p

The 270k trade makes that perhaps a little unlikely :)

Well at least it wasnt a bad news RNS