RE: Volume 295k17 Dec 2019 19:27
Been quietly pondering the latest Vulpes buy, and the number one obvious fact is they wanted (and may still want) more shares to take a bigger stake. As C7 said, if they had any inkling of a raise (or a raise at below or around the current sp) they would never in a month of Sundays have spent 150 grand on a market buy - they would await a placing and step in at a more advantageous price, but they haven't. Now while there are many safeguards around integrity and use of insider knowledge, that is IMHO a pretty powerful signal that Vulpes believe that this is a good price to buy extra shares at - and let's face it, they should know. It may just be a gamble, but considering how big their stake is already, would you really bother adding that much extra if it was simply a calculated gamble? I think not. Comments from the 'aimbig' end of things would have cold water poured on it because it wasn't an open market buy, but just a mere 'disposal' from an existing larger shareholder. Now there is an old cliché that for every buy there has to be a sell - obviously - but whoever the seller is is of less interest - it is someone who has an undeclarable sized interest, so significantly less than Vulpes had before this latest increase in shareholding, and if one wants to conjecture it could be a party who bought when City Financial disposed of 16 million at around the 3p mark so still theoretically making a profit, or maybe up against timescales, or just moving on. Buyers of all sizes do the same. OK it could be another of the institutional investors selling at a loss, but I lack the market vision professed by some of our more erstwhile posters, who to be frank also seem to lack market vision too. Personally I see it as a big positive, but remember folks - it is all IMHO. Don't forget that - it's either fact (which you should be able to back up with detail) or an opinion, based on what you can see, what you can't see, and what you can reasonably expect to develop.
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