The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Thanks Pokerchips. That's what I thought initially but convinced myself otherwise. Like I said I'm confused! :)
As long as Sir Roger knows what and when he's supposed to be buying I'm not too fussed ;)
Ex-Entitlement Date for the Open Offer.................................................
8.00 a.m. on 11 September 2020
Wait, I'm confused now, surely anyone buying today is eligible to take up the offer? Cut off tomorrow 8am so SP in for a big drop first thing presumably!
Last month, The Telegraph revealed how foreign companies were invited to take part in “market engagement” about the deal as the Ministry of Defence tries to get it under way again.
Unions have been battling to make sure the vessels are built in UK shipyards. They argue it would create 1,800 jobs directly and is the only major naval construction project in the pipeline.
However, the Government has previously argued that under EU procurement rules the contract has to be tendered internationally. As the FSS ships are not classified as warships, as they are part of the Royal Fleet Auxiliary.
Ross Murdoch, the GMB union’s national shipbuilding officer, said: “There is speculation about other projects but in reality the FSS is the only game in town.”
The Government-commissioned report on a national shipbuilding strategy from industry veteran Sir John Parker three years ago warned that without a “steady drumbeat of work” for UK yards, they faced a boom and bust cycle that would require expensive scaling up and down.
Mr Murdoch also called on Boris Johnson to deliver on his promises to support the sector. Last year the Prime Minister pledged to “bring shipbuilding home” and last month said the reopening of the Appledore yard, which had been closed for 18 months, would “drive forward our ambitions to become a shipbuilding superpower”.
The union chief added: “We need to see the rhetoric turned into reality.”
It would be “economically and industrially illiterate” for a £1.5bn contract to build new supply ships for the Royal Navy to be sent abroad, MPs have heard.
A Defence Select Committee hearing on industrial and procurement policy for military equipment was warned a deal to build up to three Fleet Solid Support (FSS) ships must be awarded to British shipyards to guarantee the country’s ability to produce vessels.
Garry Graham, deputy general secretary of union Prospect, said the FSS contract was “totemic” in showing how the UK fails to deliver what he called a “coherent” strategy when it comes of supporting British industry.
“I can’t imagine other nations sending a contract like the FSS abroad, it is economically and industrially illiterate,” he said. “During the Covid crisis around our European competitors we see them bringing contracts forward to be fulfilled in their domestic markets and that to be a driver for economic change in their own economies.”
The contract to build the 40,000-tonne FSS ships - which help keep the Navy at sea by supplying them with ammunition and food - was halted last year because bidders could not meet the budget.
PS And I'm usually pessimistic ;)
I first bought in a week after the IPO.
The drop to 1p after the disposal of Pedra Branca was largely down to negative sentiment surrounding a deal which took everyone off guard. While many people, including myself, were critical at the time, it is now clear that the strategy adopted was the correct one and the BOD deserve great credit for this.
The second drop to a penny was wholly manufactured and down to general coronavirus panic.
I don't think we'll see a third.
In fact, I'm supremely confident we will see a return to IPO prices of 5p + before Jan 2021.
GLA
L Castro has just resigned as NED of Jangada, to pursue another exciting business venture.
Actually, I made up the exciting bit but looks like he's envisaging his workload might increase substantially in the coming weeks ;)
Interestingly, or not, your penpal Ignacio seems to be going in the other direction to Highfield, which was founded by Jangada CEO Brian Mcmaster.
Oh my!
Wouldn't :)
Just to clarify, I meant punt on TRP. Would touch VOG if ENEO paid me!
Oh dear oh dear...
It was a sell, I think!
'
JLP will never hit 100M, you heard it here first!
www.youtube.com/watch?v=vUQjdwRno5g
Thanks for the replies. I don't want to slow down the process so I will email my holdings and overall loss on AMI. Although my take as a trader is that your average is irrelevant. Loss = (number of shares held) X (price at suspension (10p))
Suppose after all the sums you actually have negative exposure, ie. you have made a profit trading AMI. Does that mean you have no claim against the company?? if the 'total at risk' is just a crude way of determining our claim against the BOD then I'm happy to go along with it. Or is the case that if we're claiming as creditors we are only entitled to recoup our loses?? Fortunately, or not! I traded AMI like a donkey so this doesn't apply to me. Also my middle name is not Frank and I am honest as the day is long ;) so I will not misrepresent my holdings I would like some clarification on the subject if it could be provided. Personally I feel we should be after at least £1 per AMI share or use the SP from Aug as a starting point for our claim.
**** knows where to start on a screenshot either :) Thanks for trying to explain things though
Your example illustrates a gain in shares rather than a reduction or increase in total exposure. I still can't see what safeguards are in place to stop people manipulating their apparent 'total at risk'. The crux of it is I'd like to claim for a lot more than whatever my initial investment is deemed to be.