The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Racksonracks
Your first post on ENET and a bit of a mess it is as well.
Do you want to try again?
Friday was a market rout, all shares were affected. Small caps especially so, due to lack of liquidity and, in ENET’s case, holders sitting on good profits.
Desperately in need of news? Really? You checked the recent news flow, it’s been strong including recently biggest ever contract.
Re DL not knowing how to run a listed company. Again, really?
Sp has doubled in the last year, funds recently taken on board, given recent market wobbles that is looking like an astute move, multiple award winning products addressing huge and growing market, principal directors own 20% of the equity. I would say they are making a decent fist of it.
If that’s your attempt at analysis or trying to talk the shares down it’s a very poor one.
ETH
Given the secrecy surrounding 5G IF, our largest by far financial backer, then speculation is inevitable, esp when they are described as our ‘funding partner’ yet we know absolutely nothing about them.
I don’t think that is right or good, but they won’t be around for too much longer, which will be a big relief. Can then talk about other more interesting things.
Read suggestions on advfn that Fridays fall is 5G related.
My response fwiw.
Why I’m sure yesterday’s fall was nothing to do with 5G IF
1. This was a market induced fall, nothing to do with ENET.
2. It did coincide with the last day for 5G IF to reduce by some c 1.25m or face having to declare over 5%, or off market transfer.
3. There is no way they were going to shift 1.25m through the market yesterday, let alone maintain an orderly market, so no point even bothering
4. 5G IF have stuck by the rules. To suggest they are going to tear the rule book up is ridiculous on several fronts, eg they haven’t even received the latest batch of shares yet.
5. MR described 5G IF as a ‘funding partner’, partners don’t go out and crater the sp, that is not what they are about. If we are correct in suggesting Tarana or close associates are behind 5G IF, then Tarana need ENET’s on going input, good will, technology, not only on G1 but G2 which is under development. To think they would jeopardise this relationship is nuts.
6. The suggestion that they or associates have participated in some grubby little manoeuvre to artificially lower the sp just doesn’t bare any scrutiny. For one thing, the individuals concerned have got bigger fish to fry, for another there’s the reasons I’ve given above.
7. I’m afraid Fridays situation is what happens with small caps in market routs, esp when many participants are sitting on good profits. It has nothing to do with 5G IF at all.
8. The only thing to do is to take as a stage of the low sp, as I did on Friday and will look to do so again next week
atb
uhlf
So there’s a variant, so what. Can hardly be a surprise. Life will go on, there will be more variants. Just an excuse for a bit of volatility, nothing actually changes.
on this board, perhaps something to do with TL’s reemergence on the advfn board, which I welcome.
Or perhaps we’re just waiting to get our teeth into something.
Just a few days before 5G get issued their next batch, they have to do something with the excess over 5%, which is circa 1.25m…..
Watch this space!
BR
imo it’s not 5G IF, their method is clearly established and it’s not going to change now.
Clearly the 299,999 was a large trade. Buyer, seller, who knows and quite frankly it doesn’t really matter, great that the liquidity is there for them to join or leave.
I wouldn’t call today’s trade large by any means, normal trades that investors make all the time. Again, great with the increased liquidity that they can be done. And they are certainly not 5G.
Just let it all wash out, so much to look forwards to here , no need to sweat every trade.
All imo
GLA
01234
I doubt it, as I’m sure they’ve transferred off market before as there’s been no announcement and indeed there isn’t any need for one, unless the recipient goes over 5%, and even then we wouldn’t know for sure if it was 5G supplying the stock.
I think what we can say is, that if the present trend of low volume continues and there are no liquidity events, then 5G are going to be hard pushed to reduce by c 1.25m in just over a weeks time.
We know, because MR has told us, that 5G will at all times comply with their TR1 reporting obligations. Therefore, come next Monday week, unless there is a TR1 issued in a few days, it will be safe to assume 5G have transferred to get below 5%.
I think even with a liquidity event or two next week, 5G are going to struggle to drop 1.25m, although it could be a case of mix and match.
A week can be a long time in shares, next week could prove interesting!
All imo.
Cheers 01234
I’m not sure it gets us too far, but I think it does demonstrate 5G’s mode of operation.
They’ve now got around 5 or 6 trading days to reduce by at least 1.25m shares, either by selling in the market , as allowed by the rules they operate under, or transferring.
Double taps
1.3m issued 19/10/21
20/10/21. 2. X. 32,500 = 65,000
22/10/21. 2 x 45,000. = 90,000 rt 155,000
22/10/21. 2 x 32,500. = 65,000 rt 220,000
Week 220k
25/10/21. 2 x 32,500. =. 65,000. rt 285,000
25/10/21. 2 x 25,000 =. 50,000. rt. 335,000
26/10/21. 2. X 32,500 =. 65,000. rt. 400,000
26/10/21. 2. X. 50,000 = 100,000 rt. 500,000
27/10/21. 2. X. 25,000. = 50,000. rt. 550,000
27/10/21. 2. X. 32,500. =. 65,000 rt 615,000
28/10/21. 2. X. 25,000. = 50,000. rt. 665,000
28/10/21. 2 X. 25,000 = 50000. rt. 715,000
29/10/21. 2 x 20,000 = 40,000. rt 755,000
29/10/21. 2. X. 17,500 = 35,000. rt 790,000
Week 570k
01/11/21. 2. X. 10,000 = 20,000. rt. 810,000
01/11/21. 2 x 50,000 = 100,000. rt 910,000
01/11/21. 2 x 40,000 = 80,000. rt 990,000
02/11/21. 2 x 20,000 = 40,000. Rt 1,030,000
02/11/21. 2 x 25,000 = 50,000. rt 1,080,000
05/11/21. 2 x 20,000. = 40,000. rt. 1,120,000
Week 330k
3/11/21
2,433,000 shares issued £744.5k of £1.568m
Effective 30.5p
£823k left
72.7m shares in issue
O8/11/21 2 x 20,000 = 40,000. rt 1,160,000
Further 2.64m to be issued end of Nov
Effective c 31p
Then 75m shares, all done.
10/11/21 2 x 20,000 = 40,000. rt 1,200,000
12/11-21 2 x 21,000. = 42,000. rt. 1,242,000
Week 122,000
16/11/21 2 x 12,500 = 25,000. rt 1,267,000
Fairview, if they haven’t got any shares by the 29th then they must have magicked them away or something!
Or transferred the lot. We’ve seen very little hit the market, just about enough to clear the 1.3m issued in October.
By end November they will have been issued c5m in a few weeks, c 6.7%.
Neat trick to make them disappear!
Hear what you are saying bid, but when our conservative cfo uses words like .’….Company's activities increased exponentially." and we know there a lot of irons in the fire, plus the expectation, from ENET, of sn imminent UEP contract then I feel it’s reasonable to expect news and not too far away as well.
Then there’s supporting evidence, they delayed the 2nd batch to 5G, why. Imo, the only reason to delay is to allow 5G the time to divest below 5%. Unless they transfer, they will struggle without news.
Last, but by no means least, our esteemed 3% investor dallo says ‘ stand by yer beds’, I paraphrase there, and, naturally, dallo would encourage us all to dyor and come to our own conclusions.
But, you are right, they have the thick end of 18 months to get the warrants away. I’m not as optimistic as dallo that that can be achieved this side of Xmas, but who knows. We touched 60p and backed off. Let’s see where the next run takes us. Be surprised if the warrants last beyond Q1 2022.
All imo
GLALTH
BB
They still have authorisation to issue shares if any warrant holders (unlikely) wanted to convert now.
If news hits that pushes the shares over 80p for five consecutive days, then at the end of those five days, even if news hits tomorrow, you’re going to be pushing close to the EGM date of 6th December.
The shares would just be issued with the rider that the date of issue will be post 6th December. Simples.
It’s certainly not going to hold any news up.
And 5G need to reduce, declare or transfer by the end of this month, the clock is ticking!
All imo
Good to hear from you skid.
We must be hitting the time when a rns could come any day, inc Friday, imo. All the ‘groundwork’ has now been done and we await news re the transformation that has been going on at ENET this year. Lots to look forwards to, imo.
GLA
BR
We know from practical experience over the last year exactly what 5G do and don’t do. They don’t maintain downwards pressure on the sp, that’s wrong. They cap the upside as they release into liquid markets. But if there’s no liquidity you don’t see 5G.
You hsve to understand how 5G work, we’ve seen enough over the last year to know exactly what their mode of operation is . Today is a low volume day, unlikely you will see 5G today. All the more reason to think 5G will require liquidity events, and soon. Or transfer, or declare.
They WILL NOT be selling Willy nilly into the market, that’s not the deal and not how they work.
BR
5G haven’t got a licence just to offload into the market.
They have to comply with ‘orderly market’ conditions.
Therefore, to maintain under 5%, they need liquidity event or events this week or next, at a pinch early the week after.
All imo.