Member Info for Reckoner

On 9th Sep the very same entities of Legal & General reported their holdings for Anexo Group (ANX) going below the 3% threshold, as per the FCA rule below. No doubt, they'd do the same with ODX. The 5% threshold is from the EU directive, which the FCA rules (below) supplement for UK-listed companies. The EU directive refers to aggregated holdings for group companies and that 5% is in the context of the EU starting point for notification, which is actually 3% in UK.

'A person must notify the issuer of the percentage of its voting rights he holds as shareholder …. if the percentage of those voting rights:
reaches, exceeds or falls below 3%, 4%, 5%, 6%, 7%, 8%, 9%, 10% and each 1% threshold thereafter up to 100% (or in the case of a non-UK issuer on the basis of thresholds at 5%, 10%, 15%, 20%, 25%, 30%, 50% and 75%)'

So I think it's safe to assume that L&G now hold between 4% and 5% of ODX. They appear to have sold about half of their holding, which is unsurprising for a fund taking profits from a fast-growing company they invested in over 10 years ago.
What they do next is anyone's guess.

raaydar - I believe you're supposed to notify when reaching or reducing below 3% and 4% also, according to the rules.

Legal & General have sold about half their previous holding in ODX, taking their total below the 5% threshold.
I've been back over the Holding notices for L&G and gleaned what I can in terms of facts rather than do pure speculation.

They have been invested in ODX at least as far back as 2009 when they built up a 10% holding when the SP was 21p.
After their last share purchase, way back in October 2010, they held c.18% of the company, which was worth about £2.3m at that time. This was the most, in terms of proportion of the company, they held - at least as far as I can see.

They've now gone below 5% but must be above 4% so let's say they now have 4.5% of the company, or about £6.125M.

So, compared to their peak in 2010, they now have one quarter of the proportion of the company they used to hold but at 2.6 times the value, so much growth over that time. And they have taken profits from their holdings since then.

Building, top-slicing, diversifying - all standard practice for investors, whether institutions or individuals. Funds have rules when individual holdings become too heavy and it shouldn't surprise people if a fund needs to reduce the number of shares it holds after a very successful year SP-wise.

If they took out all their holdings then I would be more concerned but still unable to guess accurately as to why they would do that. For now, they still hold more money in ODX than they used to and are positioned to see this grow again over the coming years. That's all this is. It isn't a statement about a lack of confidence. Rather, it's just how funds have to operate and appears to me to be more of a story of a very successful "small" company.

Persuasive b*gg*rs.
Just topped up again.

riv talks it up.
jolly talks it down.
So it goes...

Sorry if this has been covered already but those who complain the grant is too small have looked at this completely a** about face.

To judge the size of the grant as though it were future earnings is ridiculous. It's the fact the grant is awarded that matters as this helps to confirm the "promise value" of SAR and that it is finding a more realistic price. Promise is more important than confirmed future earnings when assessing SP for companies like SAR.

When the speculators bailed out today I took advantage of the drop and bought more shares. Of course I could be wrong, but I like what I see, especially the lack of BS.

Kainos, it’s a Romany / Gypsy word for a fool.

I think it must be to do with the particular broker/platform's policies.
My wife holds SOM via Charles Stanley and had the reduced rate of 15% on the latest dividend, despite not having filled in the W-8BEN form. Her holding isn't in an ISA or SIPP wrapper.

Isn't it normal practice for companies to present the full year results and allow shareholders to ask questions? Possibly nothing more than this. I'm relatively new to SAR, so don't know its habits. Topped up for 2nd time this morning.

I guess so, give or take, at current SP.
Makes my stake look a bit on the small side.

Yes, that’s him.

BuilderPete, could it be this one? The company behind this technology is Qiagen.

https://www.uhs.nhs.uk/ClinicalResearchinSouthampton/Research/Facilities/NIHR-Southampton-Biomedical-Research-Centre/News-and-updates/Articles/Point-of-Care-COVID-19-tests-can-reduce-transmission-in-hospitals.aspx

Exactly why I bought MWE earlier this year and topped up twice since. 5G and water management - I think must be good areas for growth over coming months and years. On top of that, looks like a well-run company.

Hi Daddy, it's Richard Griffiths, a major private investor:
https://www.marketscreener.com/business-leaders/Richard-Griffiths-05J8QH-E/biography/

For a while yes, but not as long as your post might suggest. The buyback is a million dollars, not a billion.