Spreadex28 Jun 2018 14:07
As per the rules, a company has to notify the share issuer within two trading days of crossing a threshold, i.e. 3%, 5%, etc.
``How to make a Disclosure
Deadline: Notify a change in holdings as soon as possible and in a UK issuer within 2 trading days, or non-UK issuer within 4 trading days, after the holder learns of or should have learned of the disclosable event.
Filing: Disclosure must be made to the FCA and the issuer using Form TR-1``
https://www.aosphere.com/aos/shareholding-disclosure-united-kingdom-summary
Spreadex TR-1s filed:
RNS on 24-May, Threshold crossed 10-May, Issuer notified 23-May ((13 days later)), 7.68%, 218,666,666 shares
RNS on 29-May, Threshold crossed 25-May, issuer notified 28-May ((3 days later)), 6.69%, 190,666,666 shares
RNS on 27-June, Threshold crossed 15-June, issuer notified 26-June ((11 days later)), 4.55%, 129,721,560 shares.
Clearly they are not notifying on time.
Also appears to be manipulation to keep the SP down. Why would anybody buy shares at 0.3p and sell them at a loss well below that?
Does anybody know why they do that? Is this manipulation at the detriment of genuine shareholders legal? Is it worth reporting them to the AIM?
Can anybody with spreadbetting experience shine some light on this?
In any case clearly they are not reporting their share holding passing thresholds within the 2-days.