RE: How the heck7 May 2020 10:14
For discussion what are peoples views / expectation on this.....in the last RNS 27th April
1. Warehouse Loan/ Short Term Credit facility paragraph the last few points state ''The Company is subject to certain confidentiality restrictions which preclude it from saying more or identifying the counterparty. Moreover, even if the name of the asset manager firm wasn't confidential, the Company would be reticent to state the name in the public domain as this would eliminate a strategic advantage over its competitors. As and when further details can be publicly announced, the Company will do so.
Question - do people read this as though even when a deal is done here they might/ will choose not to divulge the counterparty name or fully expect them to do so once that has been achieved?
2. For Separate Managed Accounts - Same question do we expect full disclose of the counterparty names each time?
My own view for point 1 is that they possibly won't want to provide a name initially otherwise they wouldn't have raised the competitive advantage point in the RNS as that would surely still apply post any deal completion. The upside here is comp adv protection but the downside is promoting landing a big fish. Likewise for point 2 knowing who the counterparties are might aid wider market interest. I'm interested to here other peoples insights into this as a deal with no names I'm sure would fall short of some expectations.
In the interests of transparency I have a reasonable long position and have been a holder for circa a year.
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