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Who are buying and selling.
Peel Hunt - bought 5.9mln, sold 6.2mln
There have not been any TR-1's today
8.5 form merely indicate where a market principal have been dealing for clients - they are not the institutional holdings.
Those will be from the 8.3 forms (and even those holdings could have been acquired some weeks/months ago).
The 8.3 rns' are holdings notifications due to the takeover situation.
Any/all holders with >1% have to declare their position. This position may have been opened last week, last month, a year ago.
However - subsequent notifications from them will show if they are now increasing/decreasing their exposure. Iirc each movement now will be notified (not just when crossing a % threshold)
The 8.5 rns' are market principals merely trading for clients (hence the total bought and sold and the high/low price for each).
It's a declaration of current stakes...they might have purchased them at £1+ (or at 20p)...if they release an update with 2mln holding then you can say they are building for a takeover, but not yet
17th Feb'23
He bought £400k at £1.118.
Can't see any subsequent to that...so that would be the minimum he'd need to offer given the 12 month period kicked in last week
What were Dunkerton's purchases over the past 12 months (lowest price)?
Trawling through rns' but thought I'd ask here too
These reflect essentially market maker activity...they are actively buying and selling on behalf of clients...it is NOT their own book
"PUBLIC DEALING DISCLOSURE BY AN EXEMPT PRINCIPAL TRADER WITH RECOGNISED INTERMEDIARY STATUS DEALING IN A CLIENT-SERVING CAPACITY"
The 8.3 ones are actual holdings
They have a matched long and short position (3.90% each way)
First of many 1% notifications
Be interesting to see what the resulting free float is - I suspect not much, hence the volatility
Toffers,
For clarification I do not and did not hold HE1 and I bought in here Friday morning.
I'd not seen your post here over the weekend but merely replied to a question on here...
Https://www.cliffordchance.com/content/dam/cliffordchance/PDF/takeover_guide.pdf
Page 42 - 12 months prior to the offer period, so formal intention of making an offer, defined on page 48 (so my interpretation is that date was last Friday)
Lorna will raise into this rise...they only had enough cash for this drill, so they need ££ to take it any further
50k quoted at 47.17 on strip 47.50 (with IG)
Well stock supply is still pretty tight
25k is at 23p, but 55k is 24.04p and if people wanted to fill their ISA allowance, £20k buy price is 24.95p
IG closing only, max 50k at 10p currently
PFS won't happen.
Any credible interested party will do their own anyway. Landore best to retain the cost to develop BAM
One potential reason for the lack of notified interest could easily have been BH's view that there is 3-5Moz at JL and so in his mind, and as recompense for the years being invested here he set his sights on a £2-£3 offer and nothing less...so even initial conversations would have been moulded along those lines in the minds of potential acquirers
Hence they didn't take things further
The new CEO will not have that baggage (and also, lets be frank - the adverse City opinion given BH's approach of Landore as a private company vis-a-vis comms)
A 2Moz gold resource, with strong potential fro this to increase, an adjacent nickel resource too ...the new CEO could easily be open to talks around the £1-£1.50 range...a level which at the very least brings buyers to the table
New broker and their research note hopefully also brings along some exposure and awareness on Landore...the value of the resource is there...it just needs buyers to see it.
All buys so far this morning - however we have one MM very aggressively pushing the offer down with a big block openly being sold
Matt,
Very good posts. Expect the drill results imminently which will add some more battery metal resource into the mix.
Board's drive for a sale on the gold may well park further plans to explore the nickel resource further (cash effectively being spent on non-core drilling)
New CEO imo now going the main catalyst to share price movement (in place of any sale developments) as hopefully one with both operational experience but mostly very good deal history - most would be happy to see any remuneration package to be geared to equity on a deal over/above cash
Just over 1 million purchased yesterday and this morning in just 50k & 100k lumps...sp remaining static (so would suggest decent MM relationship to not let the sp run away)
Just 10k max at the moment..MM's blocking buys, we then get a sell and a 50/100k buy pops to absorb that latest sell and we're back to where we were again.