Thanks Siko - Your post will have brought cheer to many I feel . - One long-running dispute has been the fuel-subsidy arrangement. - Over the years, Tibbs has provided extensive coverage of this issue.- If this is included in the settlement, I believe substantial sums will be involved. - Again thanks for the cheering post.
There are quite a few novel-ways to obtain finance. For example, some work to a formulae that involves share acquisition at a price specified as the share-price at close of play on a specific date. - This sort of arrangement usually leads to a massive shorting initiative being deployed in order to collapse the price leading into the triggering-date. Much caution and wisdom required in these matters. - Plain vanilla borrowing is not easy to come by these days.
Have called an annual & 'special meeting' for May 4th. - It might be wishful thinking, but I'd be surprised if there is not information on their 'Egypt' permits or something even more 'special'..I wonder what special could be. - Any guesses anyone?
Hi Dagger - Yes that was a howler on my part. - It's a good job I don't work for Reuters. :-) - It was good of my fellow posters not to give me a kicking. - Thanks guys. - Director buys providing a silver-lining, (hopefully). - I'm gonna stick my neck-out again. - I'm predicting a permit RNS after close of play today.
A possible chess-move would be to to RNS good news about permits after close-of-play today. - It would create high-spirits moving into Monday. - A dampener perhaps to any bad news that may be contained in Monday's news. - Just a thought.
Hi Autonomy Sorry it was last September not August and It was Youseff (nephew) mine manager who disposed of shares a few weeks before Q3. - I referred to Josef in the context of a private sale that might have taken place to Schroders and that did not have to be reported.- The comparison was on the basis of selling shortly before important announcements.
Hi Steve It's only speculation of course, but if it is a family sale of shares, then the last time it happened was last August when shares were sold a few weeks before October Q3 results. - We all know what happened then. - If this is something similar, a sale a few weeks before final results, then it's not unreasonable to expect some bad-news. - That's my reasoning.
Just a W.A.G - Didn't Joseph transfer personal shares into some sort of trust? - If rules of reporting don't apply to said trust then that is one possible way that Schroders could have acquired a large tranche of shares without it being reported. - If this is the case, then in my book it's of great concern.- I don't like the implications. - If indeed this is the case. - But it's why it's an important question.
Just a talking point, I raised the issue yesterday. - 5% of shares is a huge tranche of shares in one go. - Where did they come from? - There's been no RNS info. covering disposals of such magnitude so where have they come from? - Could it be a disposal of family shares again? - The obvious candidates, Blackrock et al, don't come anywhere near this volume in their cumulative totals for the year so far. - I realise I could be overlooking something that is obvious, but I sure as hell would like to know how they have acquired such a volume of shares in one go with no other news associated with the purchase.