Member Info for PC01

I still don't understand the price action...if you are a seller do you engage with yesterday's buyer who was paying 30p...or do come in the next day and smack 28p bid first thing? Its all very strange and continues to underline why I am in equal amounts optimistic about SLE and confused by recent price action! There almost seems to be a vested interest in preventing the SP from rising...I'm sure as usual we'll find out in a few days why the SP has pulled back!

I think Mary Poppins with a T you are potentially guilty of misrepresentation ...the SP has risen from 23p to 30p since early December...which is 30%...i don't own any shares that have done that over the same time period. However, It is as ever convenient to choose what dates you look at...as we also reached 30p in November... whereupon we can say SLE shares have done nothing over the past 2 months...or we can go back to a more sensible date - say the July / August lows when all the nonsense about STT was doing the rounds...the reality is simple...the SBB is coming unless a creditor of the company objects over the next week. As per countless previous emails, and responding to TimB's comment - the sums simply don't add up as to where the company will be able to buy large quantities (or 5%+) of the company's equity) without a sharply higher SP...i think a 30% rally in the past 6 weeks is a good enough start.

Or someone being sensible and hoarding some stock to be able to offer the company...Feb 8th I think we agreed?

All reads well and makes a lot of sense so - Amen to that...good weekend all.

With apologies BR - its my alzheimers...I did actually mean to respond then FRUS;s comment came thru and I had to reply to that...then the Spaniels needed exercise...then my post was deleted...etc etc...no slight intended at all...and whilst I appreciate your 'help understand how markets work' bit, having commuted to the city for 30 years and ran a relatively successful trading business, i'm probably ok on that front...
I have also, in many of my posts, suggested it is understandable why the SP may take some time to reach its final resting place...however, my understanding of the way AIm works is that it is usually about 3 years ahead of reality...here we have the bizarre situation of a SBB about to happen with all the maths that have been discussed below...and still someone / an institution who knows seems happy to sell down their holding...it is utterly bizarre and unlike anything I have seen before. Which is why I remain puzzled, despite your comments.

MMM my rather non-inflammatory post seems to have been removed by big brother...ho hum...didn't think i was being that unpleasant...
I would take you to task for one thing Frus - i am a genuine person (if that's a bit like Pinnochio I want to be a real boy?!) but my head hasn't been turned by anyone on this board. All I have written has been done to share the - admittedly small - amount of knowledge I have about SLE and join it with my broader understanding of financial markets. I have read with much interest the bears view and the bulls view...but it would be a strange person indeed who invested in anything on the basis of what he or she had written. I have frequently used the term SLE 2.0, I believe its completely apposite for the situation / investment we have in front of us. And as I alluded to yesterday, it is extraordinary that SLE has a 2.0...most companies would have folded by now,,,I guess we have the deep pockets of Tosca to thank for that.

OK, shall we move on from the petty insults and school yard banter and talk about how SLE will buy the $10mm of shares....it doesnt exactly keep me awake at night as its a first class problem but again - for fear of boring you all to death - I want to know how its going to buy £7.7mm (at current FX rates) or 25mm shares...Tosca and Capital own c 70%...Midwestern what 15%? There's 500 million shares in issue....on the back of my envelope outside of the 3 largest shareholders that leaves 75mm shares. Are we really saying the company is going to buy 1 in every 3 of shares outstanding?
What am i missing here - is it really that simple? Because it doesn't make sense to me that the SP still languishes at 29.5p if the company is going to buy 1/3rd of the free float week starting 8th November?
Confused.com.

Or more likely the fund that holds JOG got an inflow and they bought a bit of all the shares held in that fund...these large fund management companies have cash flows all the time..hindsight’s a wonderful thing...who at £2 didn’t think £1.50 was very cheap! But when the SP was at 1.50 who wasn’t thinking in the dark recesses of their mind ‘bugger what does someone else know that I don’t!!

The great concern I have is that it seems so blindingly obvious what is going on here...markets are typically (in my limited experience!!) quite efficient...so as per so many posts of mine it seems we have to not only smell the coffee but also see the milk n sugar before we - the mkt - really believes we are getting a cup of hot steaming coffee and that the corner has finally been turned. And that is completely understandable I think given this company’s previous history of not looking after its shareholders.
It is - if you think about it - extraordinary that SLE has been given a second chance...it’s no help for the early shareholders but for those long down at these levels it it does seem we have a very decent opportunity...

Disruptive? Argumentative certainly, but who isnt! You seem to have given up a little easily on our side bet...lots of twists I'm sure before 31st march...

In the US there are v specific rules regarding the actual practice of a SBB ... for eg the company buying back shares can only buy 5% of the days volume, it can’t pay the highest price, it can’t buy shares in the last 30 mins of trading. I am fairly sure similar strictures exist in UK but can’t find them ...any one help? Reason I ask is that when (note change in language from if to when!) SLE starts its SBB - if it can only buy 5% of the daily volume its going to take a very long time for it to buy $10mm shares back...
Say 500k shares / day is average volume
Say 30p starting price
5% is 25k shares which at 30p is only £7500 or say $10k.
To invest or better spend $10mm will take a 1000 days !!!
The point I’m making - in a rather long winded way - is that the company is going to be on the bid for the shares for a v long time...nice thought really!

To coin a well known phrase - I do love the smell of Pinot noir in the morning...now where’s my good friend B7?

No new news - just plain and simple someone building a stake in a high quality lowly valued company - with much going for it and fully funded for the next 12-18 months?

It would irritate the hell out of me if what got this SP finally moving (and someone is having a poke at it today) was Bandit1's post...I mean we can talk fundamentals and cashflows til we're blue in the face, but what moves the market is troll-blocking! Sigh...back to my day job, methinks....

Actually sod it. I don't care what drives the price higher!

Pinot noir anyone? :-)

Nex is an irrelevance for companies the size of Hurricane. Nex is a the playground of companies with c £50mm market capitalisation...Hurricane's stands just shy of £1bn. I can only think it is an oversight, as most talk has been of HUR joining the FTSE 250.
As a result, I'd ignore the quote on NEX as well - any place that gives you a 20% bid/offer is best avoided.

I didn’t answer your last point. Once SLE has bought back it’s stock - as per a post of mine what 2months ago - it has 3 options :
Cancel the shares
Keep the shares to remunerate employees - so avoiding diluting you the shareholder when it wants to reward its employees
Keep the shares and use them to fund purchases of other strategic assets.

We could argue about the merits of all 3 of the above - personally I’d prefer the company cancel the shares but that’s because I’m a greedy b&stard and it’s what would give the SP the best boost in the short term.

I think I will be Virus D...just a few things re your comment FRUS.
Firstly as suggested the current market capitalisation of SLE is v approximately what the company is owed on the outstanding loan +/- subject to FX etc.
So if SLE has no other expected source of income then we are at fair value - and as you say / spending $10mm of their money pot buying shares back actually achieves nothing if re point 1 SLE will never earn another $ except from its loan repayments.
However the optimistic amongst us think there is a chance that SLE sans debt might actually earn something from owning 5-10% of a world class asset - one that announced recently would start to pay dividends to their existing shareholders. SLE also owns economic interest of some 5% of BarryRoe, the potential of which has been helpful to other companies who own BarryRoe.
So - for the optimistic and only them - our excitement at a SBB is not because of the temporary boost to the SP that might happen but because if we are right about the future earnings potential of SLE, there will be 10% less shares in existence for those earnings to be spread about.
That is why share buybacks are value accretive - if you believe the company can grow earnings. If you believe the company has only one asset - it’s outstanding loan - then you most certainly should not be invested here.
I hope that is clear and not inflammatory.

You say ‘all SH old and new are losing money’... if SH means shareholders as I believe it must...then I’m afraid to say this SH who is of the new variety is pleasantly in the money...and also has an option on a case of decent Pinot noir that is now 10% in the money (25p strike remember B7) which admittedly is only for bragging rights!
Sorry old chap. Still looking for 45p by Q1 end...after The Capital Reorganisation and the start of the share buy back. Oh and the confirmation of the receipt of the next $18mm...gosh if we r not careful SLE will soon be swimming in the stuff!

Would it be possible that said big blocks are the last of STTs stake ? Just a thought... But then I’m not sure that would make sense as I remain of the view that that block will face moved hands at a higher px to ensure STT and the silly court nonsense doesn’t rear its ugly head... so probably an internal cross at Tosca or Capital...

Yep - my thought purely being that CPX has so far shown itself incapable of growing sales...no doubting the IP etc... but not every great inventor is a great salesman...it might be that Kongats needs a helping hand? I’m in no way doubting the product or the company...