Member Info for Simonhesays

Does this have any impact on whether the green light is given or not?

I think some posters either have anxiety issues or are conspiracy theorists or in some cases a paid doom monger

Worrier1 - just hold tight. no need to 💩 your pants

I think they can’t not discuss it forever, especially if questions are asked so when that happens I expect them to say it is under consideration. This will be before the election.

I also think the main parties will have discussed this with the chief advisor and even if they are in agreement that the project should go ahead they are not speaking on it until they are forced to.

At the moment it feels like us shareholders are sitting at the card table with a full house wondering if anyone has 4 of a kind or a straight or royal flush…

GLA - I think the odds are substantially in our favour and I won’t be reducing.

It's probably a case of don't count your chickens before they're hatched. Many (including me) have got burnt over the years by this share. This time feels different and I am hopeful that common sense will prevail... but there are no guarantees. Phulbari is an emotional topic so it's no wonder it's taboo to mention it unless you're ready for a very heated discussion. Until it is mentioned in black and white we are in the waiting room

Well, that was quite a week. I’m drained. Need to lay down.

Can somebody wake me up when we’re at 25p please?

It's clear that plenty of people think they're worth buying 💰💰💰

The share price will bounce back quickly

And on some news 🚀🚀🚀

I am wondering if they are selling shares from the raise in advance of receiving them on the 21st.

Apparently it’s allowed if you read my post below

That’s an AI answer to my by the way

Yes, market makers can sell shares they do not currently hold just before a rights issue, a practice known as uncovered or "naked" short selling. However, this activity is subject to strict regulatory conditions and is only legal when performed in the capacity of a registered market maker providing liquidity.

Here is a detailed breakdown of how this operates:

1. The Market Maker Exemption

While naked short selling is generally banned for standard investors in many jurisdictions (including the EU and UK) to prevent market manipulation, registered market makers are often exempt.

Purpose: The exemption exists to ensure market makers can continue providing two-way quotes and liquidity, even when stock is difficult to borrow.

Conditions: To use this exemption, market makers must usually notify regulators (like the FCA in the UK) in advance and must be acting in their capacity as a market maker, not trading for their own profit (proprietary trading).

2. Activity Around Rights Issues

Just before a rights issue, share prices often become volatile, and "nil-paid rights" begin trading. Market makers may sell shares they do not have to fulfill high demand from buyers, betting that they can cover the position later.

The "Optiver" Case: A recent example in 2022 showed that while market makers can use this exemption, regulators are increasingly scrutinizing whether the trades are legitimate market-making or just high-frequency, speculative trading. The Italian regulator CONSOB fined two firms, Optiver and Flow Traders, for using the market-making exemption to conduct large-scale naked short selling during a rights issue, which was ruled to be beyond the scope of their exemption.

3. Regulatory Controls and Risks

Although allowed for market makers, this activity is heavily monitored, particularly around rights issues.

Reporting: Market makers must report significant net short positions to regulators.

Settlement Failures: If a market maker cannot deliver the shares they sold short, it results in a "failure to deliver" (FTD). Repeated FTDs can alert regulators to potential market abuse, such as creating an artificial supply of shares.

Regulation SHO (USA) / UK SSR (UK): Regulations require that short sales be "covered" or "located" within specific timeframes to prevent naked shorts from sitting open indefinitely.

I think it’s called creative accounting 🤔

Almost 3 million bought and the bid went down. Hilarious.

Healthy appetite for shares this morning. Maybe some ii’s finally getting on board 🤔

And the verdict at 8.35am is

£122k bought

£4k sold

Yes! You are right!

A p iss in the ocean in the great scheme of things

The doom and gloom brigade are out this morning. That’s a good sign

Be interesting to see where the share price goes this morning…. Not long to wait 😄

Exactamundo GP - could be a lot worse.

Can anyone remember how many shares Polo’s loans can be converted into? That will be a bit of a dilution… but not horrific

don’t worry worrier1 - it’s a **** in the ocean in the great scheme of things

Don’t worry Worrier1 -They will sell like hot cakes.

Quite a modest placing and a decent price

Barapukuria and Phulbari are adjacent. Presenting it as Barapukuria probably just a smokescreen to delay any outcry