RE: rules24 Dec 2020 09:24
Jim,
to analyse this:
"I have been in touch with Peter and have asked following the disclosures of Harwood and Miton regarding the proportion of shares taken by institutions. He has affirmed that a "significant portion of it" although the disclosures will be led by the instis themselves some of whom are not bound to announce below 5%. With that said he expects to see more TR1s in due course. Let's see how things pan out"
first we have heard "significant" before, when attached to the size of WSG cut of the TEMA fee, it turned out to be "insignificant"................ but taking Peter at his word, then lets say 70M [more than half] of the 125M are now held by Institutions...... we have heard about 2 of them [Milton and Harwood]...... so that leaves 50M shares to be mentioned, either via TR1. [if over 5% then its a legal requirement and has to be done within x number of days], and if below that, they can volunteer to be added to the website.......... so, as we seem to have the situation where no one seems to have 5% or over...... [but could just be late reporting], that means either the new investors don't want to be on the website significant shareholders share register or have another reason to remain quiet.......... However, Peter says he expects more TR1s, and as that is the 5% or over flare...... then they should have declared by now [assuming its 3 days to declare]............ I will look out for this "expected" news............ as I trust Peter, and why would he lie to Jim........... having 25% in sticky hands means nothing as the remaining 75% is still plenty of swishing for traders..............I also look forward to the next MSC......... but looks like no xmas Trading Update........... I suppose we have had enough bad news for one year. Happy xmas all. B