The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
"John Gunn has an interest in approximately 52.89 per cent. of the Company's issued share capital. John Gunn consequently is in a position to exert significant influence over the Company, its strategy, directors and operations. In order to partially mitigate this risk, the Company and John Gunn have agreed a Relationship Agreement governing his behaviour as the majority shareholder in the Company." - i'd like to know what is in this 'Relationship Agreement'
i would think the spread would be enough to put off day traders
surely a company can't drop a bomb like that and then the insiders can to hoover up cheap shares - that's daylight robbery
insiders own about 54% of the shares - and they need 75% of the vote to pass resolutions?
this is insane - i've never known a company consciously destroy it's own share price
cash at bank is £2.5m; market cap is £6m - listing status cannot be worth £3.5m
i'm sure a lot of things go on, but given only what we know this is bonkers
i tend to agree (AU$ 500k) - but wouldn't that suggest insider dealing??
it is very interesting. kenny sold out at $0.13 in May - share price spiked to $0.55 in Sep and is currently $0.26 - and he was on the inside! now he's seemingly gambled the lot in RMP. does he know what he's doing?
yep, that looks to be him. he sold the majority of his Mithrel shares in May-20 and raised AUD 500k. the plot thickens .... nice research Swify
the cash shell rules relates to AIM only (i think), so it could be that shares can remain listed on ASX - unless they have something similar. however, my understanding was that, historically at least, the majority of the trading volume went through AIM
surely a serious investor would do it through a company or some sort of vehicle?
can't find anything at all. however, the address the kenny gives on his form appears to be a 2 bed rental apartment. he might be using it as an office, but suggests he's a private investor? however, its not what i was expecting for someone who just 'bet' AUD 500,000 on RMP. W T F is going on?
i agree with that but it just seems absolutely bonkers at the moment. is kenny just speculating or does he know something - because he wasn't exactly subtle about how he went about it
Kenneth Baker? wasn't he R2D2??
only asset is cash in bank of about £2.4m but a market cap of £5m - that seems like madness ... given only what we know
i'm not sure there was no interest from potential farm in partners, rather that the economics of the deal couldn't be agreed. time will tell if it was the right decision, but at the end result is a confirmed drilling campaign this winter, which was the immediate goal. so i think fair play to the Board ... so far