Somebody wants to buy Voting Shares28 May 2005 15:10
I hear that there is someone desperate to buy the voting shares of Braime - quoted at 500p and rising strongly - compared to the non-voting shares quoted at around 200p. The voting shares are very illiquid and hardly ever trade - about once every few months, but last few days have seen several trades all buys.
Here is what I see reported:
12:27:57 24-May-2005 500.00 500 2,500.00 Ordinary Trade
14:05:38 23-May-2005 447.50 300 1,342.50 Ordinary Trade
14:05:22 23-May-2005 437.50 300 1,312.50 Ordinary Trade
09:39:34 23-May-2005 500.00 1,000 5,000.00 Ordinary Trade
09:25:54 27-Apr-2005 438.40 250 1,096.00 Ordinary Trade
According to the Regulatory announcements, Director O.N.A. Braime aquired 9700 shares at £4.50 (represents 2.2% of the voting shares) on 27th May taking his holding to 86'900 shares or 18.1% of the voting class. On 5th April 2005 his wife purchased 3100 of the voting shres at £4 a share. Another director, JAH Braime owns 20.32 of the voting shares. Could one of the directors want control? Or is is a case of someone being forced to buy shares back in the market after selling the ordinary (voting) shares in error?