The latest Investing Matters Podcast episode with London Stock Exchange Group's Chris Mayo has just been released. Listen here.
yes, their group structure has a chinese sub - there are 17 references to the china set up in their aim listing doc back of 2 years ago (do cntrlF to find them)
https://novacyt.com/wp-content/uploads/2017/10/Admission-Document-Novacyt-18-October-2017.pdf
shorts may be closing & as rapidly as they can, (& good) .... but... they opened them on the back of a rapid rise so it seems premature IMO to think they won't be doing the same on each rise now. we can only hope further rises scorch them out
sacré bleu
vfr800fix - wow!
Thnks
incroyable, n'est pas!
Great if it can be on sale in France but how is that even possible in the accreditation regime?
Duhh - twigged - its response to the ability to issue 22% or 16m more shares under Resolution 16 - 21 that I was savaged on here for calling dilution
How is this SP 525 now?
I would have thought news today would warrant ploughing the portfolio in but the SP is down another 5 p since starting this
They still do not properly explain why the m cap is as low as it is for the announcements being made. It is good that they identify the anomaly but are the concluding that the SP isn't higher because testing has a limited timeframe before vaccines arrive? That wouldn't be a credible explanation. Perhaps NCYT SP has been less than the maths suggest it should be because the sector is unestablished & so early announcements have been discounted without significant IIs on board.
Its been run like a ponzi scheme against outsiders & in breach of law on inside information & fiduciary duties to outside shareholders
thanks jj
I must have some missing on my list of 8.3. I get to about half that with 11 names including ABC. i'll have another go.
Holding a short & long position at the same time is curious, I'll have to check that out, perhaps its blindingly obvious!
KR & GL
I expect you all have seen that ADM filed an RNS at 15.35 today.
It was under Rule 8.3 of the Takeover Code - i.e. A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE & declared their interest in 14m in cash settled derivatives representing 2.3% of share capital both as long and as a short positions.
I don't have ADM on my list, are they new on the scene?
Apparently they are an American owned "full-service multi-asset investment brokerage company, with over 100 years of corporate history in London and extensive international experience, offering clearing and brokerage services into all major global investment markets" with an office in London.
I presume the matching long & short position is to hold shares on behalf of another party in the deal - is that right? Why do they do structure it like that?
& can anyone venture a guess who they represent? Credit Suisse disclose they represent Pincus, Goldman Sachs for Centerbridge & Towerbrook & now Towerbrook & Pincus and Barclays were for Platinum - they could have more than one broker but just curious.
Many thanks & GLA
why are institutions selling
& proceeds of rights issue 700m May 2018
Perhaps > 90% of shares owned by IIs so sizeable trades are more likely than if a greater proportion of shares were held in small blocks by PIs. There are many consequences of this situation including occasionally lumpy transactions and high proportion of auto trades on quiet days. It is also why financial implications of results reported are significant in SP movement with analysts number crunching to value shares based on plans announcements & track record on delivery which is why the SP is where it is - look at HE & think which number needs to change in what direction for dividends to flow.
On J Lewis - ask yourself if you'd put 70p in on a rights issue (again) where we are today & what would you want it used for?
tortam inepta
The clue is in the description of the business venture.
it is a company, not a partnership or a club, a company incorporated under law to be run in a certain way that has led to a long history of case law testing aspects of misuse of rules, frauds on the minority & situations where the misuse of rules in such that the only rightful outcome after abuse of shareholders by other shareholders acting in their own interest & not acting as members of "a company" is for the court to wind up corporate entity.
I think this must be bordering on that scale of abuse which is why the regulator ought to be involved to shake up cosy relations between all crooked parties
Legislation concerning use of confidential information is in place to penalise misuse of trust and the broker is under a duty of care to the company & its directors which should be set out under terms of their engagement as it would with any other professional advisor. It is like a doctor selling information obtained in caring for a patient - i.e. easily done but criminal. The directors are under obligation of uberrima fidea, utmost good faith, to shareholders & in this case they have said there will be no placing & days before thanking shareholders for their support in a placing committing a fraud on a group of shareholders purposefully excluded from knowledge of the placing & grounds for a class action IMO.
We don't know what Daniel Levi did, he didn't own all the millions of shares offloaded, he was just candid enough to tweet information he obtained from SPA (according to him).
The regulator & Nomad should be involved or these crooks will do this again
Its 22%
issued was 15,441m + 4,374 = 19,815m
so if the MCAP at 0.28 was 43m & would now have a SP of 0.22p
I agree that it is positive that we have got through the deceitful phase of smoke & mirrors as you put it but how can a placing NOT be public information. The RNS thanks actually shareholders for their support when information that the placing was kept from most of them. This must be a fraud on some part of the shareholder base in favour of another part, insiders or connected parties.
Can anyone explain in terms of company law how directors have not breached their fiduciary duties to all shareholders & why the placing can proceed without being announced as public information relevant to all shareholders?
can I check, what the next news you have in mind is? I have results of home tests but might have lost the plot!
many thanks & GL