Member Info for Rock8

….or they have held a modest short in SDRY for over 4 yrs but only declare it when forced to do so when it emerges above the 0.5% declaration level.

As I said last night yesterday was triple witching so it’s difficult to isolate the reasons behind yesterday’s price/volumes/trading.

“The Triple Witching Day is also often referred to as the triple expiration date. Triple Witching Day occurs four times a year, on the third Friday of March, June, September and December. It marks the time when the expiration of stock index futures, stock index options and stock options occurs on the same day.”

It’s also the perfect day to disguise any accumulation or take over activity as it’s impossible to track or isolate.

I was surprised to a minor share like SDRY was so impacted by triple witching who knows?

Except of cause the early positive RNS concerning Ian James Kellett & Spouse’s increased holding.

Although again I have no insight on the surface that should be positive signal?

Sadly I couldn’t gather much insight from yesterday’s RNS’s concerning the previous day’s trading.

Let’s hope we get some positive news or at least a positive move back up above the 50 Day MA on Monday?

Let’s hope so.

I added today as it moved above the technical level but it was a strange day very unlike yesterday as despite volume of buyers there was very little volatility? It was an orderly even well managed market. Sure that was because brokers were filling large buy orders but it was very disconcerting.

Let’s hope it’s positive but very disconcerting given the speed of the drop since Monday on much lower volumes.

HTTps://www.britishbulls.com/SignalPage.aspx?lang=en&Ticker=SDRY.L

As expected last night

Just late booked trades.

Transacted during the day.

That’s why the share price didn’t move up beyond 26.8 despite volume.

They were filling orders.

Suspect something will be announced.

Today was too managed.

Also triple witching so huge UT although I can’t believe there are many options in SDRY?

I assumed he was imaginary?

It touched the 23p support and bounced.

22p was never on the cards.

Possible offer announcement

Although a possible offer announcement does not commit a bidder to make an offer, it will trigger an automatic 28 day period in which the potential bidder must either announce a firm intention to make an offer in accordance with Rule 2.7 or publicly withdraw its interest (known as the "put up or shut up" deadline). This deadline can be extended, but only at the request of the target company and with the consent of the Panel.

The "put up or shut put" deadline will not apply, or will cease to apply, to a potential bidder if another bidder has already announced, or subsequently announces, a firm intention to make an offer for the target company.

If, at or before the expiry of the "put up or shut up" period, the bidder withdraws its interest, it will normally be prevented from making an offer for the target company for six months.

Download the PDF version of this guide for a flowchart which will help companies and advisers work with the "put up or shut up" regime.

Bidders should also be aware that if they include within a possible offer announcement specific terms on which an offer may be made (e.g. by stating that, if an offer is made, it would be for a price in excess of a certain level or be all cash), then the bidder is likely to be held to those terms if it does proceed to make an offer.

No intention to bid

An announcement that a person does not intend to make an offer for a company will trigger certain restrictions under the City Code for a period of six months. These include a restriction on announcing an offer or possible offer for the target company. The restrictions apply to the person making the no intention to bid statement and any person who acted in concert with them.

hTTps://www.burges-salmon.com/news-and-insight/publications/guide-to-public-takeovers-in-the-uk

Very possible but as you say if there was no constructive dialogue they would have already announced as Elliot.

The LSE automated book normal size for SDRY is only 30,000.

That’s all they (MMs) had to take!

Frankly it was stupid unless there was a bad announcement that encouraged huge volumes.

Anyone trying to do that via DMA or into the book would just have the order rejected but as there so many Off Book Brokers here someone probably stupidly let it through and spent the day off load it?

At least the technical ‘buy’ trigger level has reduced to 24.28p.

hTTps://www.britishbulls.com/SignalPage.aspx?lang=en&Ticker=SDRY.L#google_vignette

Fortunately technicals tend to ignore or at least ‘iron out’ irrational trading

As I said that was likely considerably more than Millennium dumped yesterday.

So I assume there was a real bounce today before your action.

Should bounce tomorrow unless we have another irresponsible large shareholder?

Dumping 0.4% of the share capital does have consequences.

Not a responsible way of reducing an overweight position.

IMHO.

Agreed

New 0.5% Short.

They probably sold less shares than you did today?

Maybe much less as they only have a 0.5% short and they probably only just rose to the reporting level yesterday?

Your 390k sell today rather sank the recovery.

Hopefully a strong rise tomorrow or are you planning to dump the rest?

Yep he pulled a ‘pump and dump’ today.

Utter disgrace.

To go Monday 18th 5pm or before

HTTps://www.britishbulls.com/SignalPage.aspx?lang=en&Ticker=SDRY.L