focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
Old information is here for reference. I will get the calculator out! Share Information Number of Ordinary shares in issue: 805,540,872 Number of shares held in treasury: nil There are no restrictions on the transfer of the ordinary shares. The % of shares not in public hands*: 22.4% *as defined in AIM rules The identity and % shareholdings of the significant shareholders (as defined in AIM Rules for Companies): Roy Nominees a/c 535336 26.4% Desmond Holdings Ltd 21.8%** Ferlim Nominees Ltd SIPP Acct 6.2% Allied Most Investments Ltd 5.0% Louise White 3.7% Susan Margaret Law Payne 3.5%
Done a bit of digging around the London Stock exchange information issue and got this back. Doesn't really matter too much I suppose but it's a quiet day. Dear Stephen, Please be advised that the data on these London Stock Exchange pages reflect the shares in issue and market caps that are used in FTSE files. In line with the below rules, the shares are not updated immediately. http://www.ftse.com/products/downloads/Corporate_Actions_and_Events_Guide.pdf I can confirm that we are aware of this share change and are investigating accordingly. Any updates to the share figure will be reflected on the London Stock Exchange website in due course. If you require any further details, please do not hesitate to contact us. Kind Regards, Client Services Associate- FTSE Russell
Ah okay TC. My mistake there, I thought she had completely left. I wonder where the information on shares in issue on this site comes from because it's still showing the old amount which obviously makes the Market Cap seem lower than it is. It's even the same problem on the London Stock exchange website which I suppose could be the source.
Cheers Happy, it's back for me too now. I think it's pretty poor that the company website doesn't have the correct number of shares in issue listed. Haven't removed Alexandra Eavis from being listed as company secretary either.
I agree about not hassling them about it now, very much in the period where the plan seems to be coming together at last. Last time Matt at Spark told me they have some system that detects breaches of that rule but I don't know how true that is because they weren't exactly sharp on it before. That would be excellent news if the buyer is still adding Jackal. It seems unlikely to me that they got enough investors together at once to raise that amount without any of them crossing 3% but I suppose there are ways things can be done.
I still don't really understand how they can have not issued a holdings RNS although obviously they aren't going to get too many complains when things are clearly afoot. The tear sheet is meant to be updated on 1st June anyway for the 6 months rule. I know they didn't comply with that last time but under pressure from Spark they We're forced into it a few weeks later.
Bottom paragraph cut off Looking at the positives here for a moment; with over £3 million of cash to utilise perhaps Mark Pajak does have something up his sleeve that will drive significant shareholder value and it will all become clear in the coming weeks and months. Perhaps.
New ************* article about yesterday's events. http://www.*************.com/views/20831/craven-house-capital-the-spoof-continues-but-who-ponied-up-35-million Having written a series of pieces earlier in the year on Craven House Capital (CRV) detailing various reasons as to why I perceived to be an almighty spoof (HERE), I am part astounded and part confused by yesterday’s placing announcement at a massive premium to the share price. Craven House issued two RNS’s on Tuesday, the first being the addition of a new broker, the Godalming-based, SI Capital and the second being a pretty impressive fund-raise. It stated that: “….it has raised approximately £3.47 million in cash (before expenses), through a placing of 277,411,748 new ordinary shares of 0.1p each in the Company ("Placing Shares") at a price of 1.25p. The net proceeds of the Placing will be used to further execute the Company's investment policy. A number of prospective investment opportunities in our target markets are currently under evaluation and further updates will be provided to the market in due course.” One should bear in mind that the share price closed on Monday at 0.65p. So this placing has been completed at a 90% premium to the share price and more than double the most recent stated NAV of Craven House (and probably about a 300% premium to my own NAV estimate!) This is incredible. I can’t quite get my head round why anyone would invest at this level but I guess I should do the decent thing and tip my hat to Mark Pajak and, presumably, SI Capital, for getting it away at this price. It is a significant amount that provides Craven House with a decent war chest for new investments for a business of its size. I will watch out for shareholding disclosures in the coming days with interest to see who has been spoofed, I mean enticed, into making an investment presumably by the promise of incredible deals ahead. Aficionados of this stock will have immediately spotted the fact that the placing price of 1.25p is the same price at which Mark does all his acquisitions – consistent if nothing else. One day the share price might reach it! Unsurprisingly, the share price jumped significantly on the news with the share trading as high as 0.95p although came off a bit towards the end of the day, presumably as a few of the savvier long-term holders took advantage of the price jump and the liquidity. The share price closed at 0.775p valuing the business at £8.4 million, post-placing. That still looks overvalued to me as it values the business in excess of its own stated NAV but it isn’t the first time, and won’t be the last, that a relatively tightly held investment company trades above NAV, one immediately thinks of Concha (CHA) for the best example of that remaining at many multiples of its NAV for well over a year. Looking at the positives here for a moment; with over £3 millio