RE: What is Lenigas, Founder of REM plc doing these days?21 Mar 2021 09:52
EMH [Investee co of REM plc]
On Fri, 19 Mar 2021, shares traded : 116 deals.
Shares sold: 67,025 at £68,030.
Shares bought: 52,223 at £53,010.
Shares in Issue: 175m
Market Cap: £ 1 7 8 million
52 wk high £1.025 ."
Info from London South East [free], Sun 21 Mar 2021.
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That shows that it would not be possible for KDNC on Fri, 19 Mar 2021 to sell 10%+ of their stake into the market given the above ie would not be able to absorb some £17.8m worth of stock even if 10% for easy calculation. Therefore, it would be reasonable to think that it would need to be negotiated with the market how to best manage any sale.
One could get the normal average volume in the past but that is not available unless one checks further.a
From experience, one is aware that constantly selling chunks appears to work not to one*s advance given most stockbroking accounts are automated share dealing with a normal mkt size at x price and thereafter, negotiated price. This relates to ordinary folks who do not have access to DMA [direct market access]. I gather not all stocks have DMA access especially if they are tiny mkt caps as its unsuitable.
Just sayin - no sense in trying to do DIY market-to-market to the last % as that is NOT the real price if one is taking the ADVERTISED PRICE shown which is never LIVE PRICE. I note that live price changes very quickly and oft times the spread is not very tight or narrow.
For this reason, it will NOT make the market VALUE KDNC MORE if one tries to squeeze out the last decimal using just advertised prices which is NOT LIVE. For all one knows, there may be a sell order in place that is agreed to take place over many days as one can see from other co*s of funds selling?
Hope that clarifies matters. As I have often said, it is better to take a slightly lower price for safety - I do that for my own personal circumstances. Say, on Thur night, I think I want to sell some shares to realise a modest sum, I do not go to the account to look at the value shown as that is NOT accurate.
Come, Fri, morning at 8am [mkt opens] SAY, I still have to do LIVE PRICE [DUMMY TRADE] to check. If at 8am, the market wants X no of shares, it does not mean that it is so at 10.30am.
From experience, I notice that at different times of the day, the normal mkt size may or may not be offered in the case of a sale. If not, then one has to wait and usually, it means taking a lower price.
That is the real world in practice, so NO point in taking Thur*s nights closing price and saying yeah, I will have £ on Fri when I come to sell. REAL LIFE IS NOT LIKE THAT.
ILLUSTRATES WHY NO NEED FOR LAST DECIMALS AS IT WILL STILL NOT BE LIVE OR STILL ACCURATE DOWN THE LINE. It is BEYOND THE SCOPE OF ORDINARY INVESTORS TO TRY TO MICRO MANAGE KDNC*S CURRENT FINANCIALS IN THAT ONE WANTS TO KNOW SAY, DO YOU HAVE AN ORDER OUT OR ARE YOU SELLING DOWN TO 10% OR 10.02% KINDA THING.
So, what is the point of correcting to the last decimal