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The notification to the issuer shall be effected as soon as possible, but not later than four trading days in the case of a non-UK issuer and two trading days in all other cases, after the date on which the relevant person: (1) learns of the acquisition or disposal or of the possibility of exercising voting rights, or on which, having regard to the circumstances, should have learned of it, regardless of the date on which the acquisition, disposal or possibility of exercising voting rights takes effect; or (2) is informed about the event mentioned in DTR 5.1.2 R (2). (1) An issuer not falling within (2) must, in relation to shares admitted to trading on a regulated market, on receipt of a notification as soon as possible and in any event by not later than the end of the trading day following receipt of the notification make public all of the information contained in the notification. (2) A non-UK issuer and any other issuers whose shares are admitted to trading on a prescribed (but not a regulated) market must, on receipt of a notification, as soon as possible and in any event by not later than the end of the third trading day following receipt of the notification, make public all of the information contained in the notification. 1% is currently 1.3m shares so existing large shareholders who have been loading up over the last 2 days would need to notify the issuer (MARL) by COB today/tomorrow and MARL would need to notify the market by COB tomorrow/Monday (Tuesday given bank holiday).
DTR 5 applies to UK AIM companies and requires a person to notify the issuer of the percentage of its voting rights which he holds as a shareholder or through his direct or indirect holding of financial instruments when those voting rights reach or exceed 3% and each 1% thereafter. In addition all AIM companies are required to comply with Rule 17 and must issue notification, without delay, of any changes to the legal or beneficial interest (a "holding") of a significant shareholder (a shareholder of 3% or more of any class of AIM security). The AIM Rules contain guidance to Rule 17 which confirms that if you are an AIM company subject to DTR 5, by complying with DTR 5 you will satisfy the requirements of Rule 17 save that: the time limit for disclosure by the company set out in DTR 5 is amended so that the disclosure is made "without delay"; and the information must be "notified" rather than "made public" in accordance with DTR 5.
At what stage would any large buildup in holding have to be disclosed and how quickly would they have to make said disclosure?
Thalassa Holding Ltd in on-going disposal discussions The board of directors (the "Board") of THAL wishes to update the Company's shareholders on the status of strategies being considered by the Board in order to bridge the gap between THAL's current share price and the Board's assessment of the intrinsic value of the Company's assets. The Board wishes to advise shareholders that it is in discussions with an interested party in relation to the potential disposal and/or partial disposal of one or both of the Company's wholly owned subsidiaries, WGP Group Ltd and Autonomous Robotics Limited. The Board would like to make it clear that these discussions are at a preliminary stage and may or may not lead to binding agreement(s) being entered into. Given the nature of the discussions, the Board has taken the decision to suspend the share buy-back programme authorised by the Board on 20 January 2017.
Gold Poised - $1291 Is A Game Changer By Ross Norman of Sharps Pixley | Friday 14 April 2017 Gold is poised to crack the critically important $1291 level which is a trendline going to back to the all time high on September 22nd 2011 when gold hit $1922 an ounce. Conclusively breaching this trendline is to say we are very much back in a bull run. With $1291 breached there would only be the minor inconvenience of the psychologically important $1300 level - more of a speed bump than a real resistance level - before gold is able to move move higher largely unfettered.
The Directors of ATC have instructed Capita not to disclose any information on price or availability. The only way to see if you can buy/sell is to actually go through the process. I asked how the company issued warrants at 0.12p when there were none in existence at the time of issue and the response was as follows: "With reference to the issue price of 0.12p this was based on the credible offers we received in respect of additional funding and was set after very careful consideration including advice from the Company's lawyer and corporate adviser. The Atrum 0.4p price was a proposed private deal between Atrum Coal and Stephen Best but this did not complete for a number of reasons one of which, we understand, was the price. As yo note there are outstanding warrants at prices in excess of 0.12p but it is considered highly unlikely that these will be exercised at the present time if, indeed, at all." I still don't know how they issued warrants at 0.12p as the 2015 AFS listed warrants/options above those levels and I can find no notification of any additional warrants being issued prior to the issue. We know that the Atrum deal did not complete as they had issues with the due diligence relating to the US business. We live in hope but getting a meaningful response is impossible. It is extremely likely that we will have been diluted out of existence by the time any listing takes place.