sorry was trying to post this link but it didn't work.i don't suppose the fine was much of a deterrent but it was a criminal conviction.also to answer your second question the volatility could be because the free float is smaller than we think but as you say we just don't know .getting geared up for interims now when hopefully things will be a little clearer re sales etc
afternoon bignose.i think we may have been down this road before.there is an enforceable disclosure regime which on paper carries sanctions of up to HK$ 100,000 fines and up to 2 years prison for breaches.that said i can completely accept that in practice it may be pretty toothless and that there would be plenty of people/institutions prepared to ignore it particularly if they reside in jurisdictions where enforcement would be problematic(china?) equally however people are very protective of their reputations and would probably not want the damage that a criminal conviction would do to it.even a small fine results in a criminal conviction.it does seem that the regime is policed to some extent but that said i can completely accept that someone may have acquired holdings behind the scenes.indeed as i have mentioned once before the stakeholder building theory was the main reason i bought back in after selling my entire holding at 60 cents following the spike and start of the fallback.i couldn't see any other likely explanation for the trading volume so bought back in with original sum invested about 3 weeks later at i think 62 cents.i was then a devotee of the theory but over time i have come to doubt it as the price action doesn't seem to me to give it validity.if there were substantial shareholder they could as you rightly say manipulate the price by a few judicious trades.of course they might want to keep the s/p low but i really cannot see why.if regent wanted to do any deals along the yooya lines they would want the s/p higher i would have thought to minimise dilution.i suppose someone could be hoping to acquire the company or fortacin on the cheap and is happy to see the s/p where it is but i just don't get the feeling that that is what has been happening.just seems to me like a gradual erosion of interest due to disappointing sales(so we believe) and missed timelines etc.of course I'm just speculating and could be entirely wrong i do entirely accept your points about about Maven etc so perhaps we shall be delighted one day by the scenario at the end of your 6.28 post let us hope so.
bignose looking at it in a slightly different way its extremely unusual,i believe;to have a main market company with no institutional investors.mellon is really just a very wealthy PI and he has been the only significant holder (with his associates/minions) for years.usually quoted companies have something like 80 to 90% institutional holders although obviously there will be many cases where the percentage is significantly lower.here it is (at least as declared) nil.i assume this contributes significantly to volatility but i my be wrong as I'm not the most knowlegable or sophisticated of investors and happy to accept other views.
agreed bothwell.what is very frustrating is that the recent falls have been on such low volume.today if my arithmetic is correct we fell 3.55% on 9 trades totalling less than £12000.crazy really.interims next friday,23rd.
i have learnt today that 200 million hemp l=plants are being grown in a trial in leicestershire (uk county for any non uk readers).its a trial i think for to see the extent of possible commercial uses in materials amongst other things.this is all starting to feel a little over the top.obviosly in a few years time the whole world will be given over to the cultivation of hemp/cannabis in one form or another.day of the triffids anyone?
agreed bunco.cannot see any reason to expect anything for a while .trading update probably end of next week (last years was brought forward by a couple of weeks from normal date for previous years to accommodate specific news) and the formal sales process has no time limits so will take as long as PHD wish it to to achieve its aims.
yes I'm assuming we will follow a similar time scale although i suppose it all depends on what degree of interest is shown and from how many parties.agree that 2/3 months from initial start of process to resolution is likely but only time will tell
for those interested in the formal sales process it might be worth having a look at the Ameriseur board (AMER)which announced the formal process on the 19th july.they have just updated on progress today and the terms of the update may be of interest for comparison purposes.please note i know nothing about AMER and am not invested there.i just came across it by chance this morning and felt the comparison might be instructive.GLA
bearing in mind the updates re the extensions to the payment dates given by regent i would have expected some sort of announcement by now that the tax has been paid or at least further time given to pay.would be good to know it has been dealt with even if we are not given details of how it has been financed