Member Info for Zarro

14% discount to NAV which itself has been hammered down by recent interest rate levels which appear to be at the start of an easing cycle. Not an obvious slam dunk to get shareholder consent

It would be nice to imagine a similar read across to Zinnwald on financing and off take arrangements?

Buried towards the bottom it says

New progressive dividend policy

The Board has evolved Phoenix's dividend policy to reflect the confidence it has in the Group's strategy. The Group will now operate a progressive and sustainable ordinary dividend policy.

The Board will continue to announce any potential annual dividend increase alongside the Group's Full Year results and expects the Interim dividend to be in-line with the previous year's Final dividend. The Board will continue to prioritise the sustainability of our dividend over the very long term. Future dividends and annual increases will continue to be subject to the discretion of the Board, following assessment of longer-term affordability.

Also agree with comments on this subject. I have no issue with shorting it in itself. Put on your position and then go away until you realise your gain or loss. My issue is with an unlevel playing field where a party with DMA access and capability to undertake algorythmic / high frequency trading does so with the express purpose of manipulating a share price in pursuit of a wider commercial objective - such as forcing financial challenges to then be able to take control of a business at a forced price to the detriment of other shareholders/investors.

How many parties are doing that here? Is it one / two? Who are they? Why are they doing it? Are they a potential suitor? If the answer to these is yes is it legal? And if it is not, why isn't it reported and investigated?

Rant over.

Thx Bl-A - as good an explanation as any. Maybe KM's strategy is to bore the MM's into some 99p uncrossing trades.......

Can anyone who understands this stuff explain to me why UT's today are getting cleared at well above the ask price for sums that are insignificant and, in the case of the 16.35 exercise was then followed up with a couple of same sized deals in the open market (although presumably closed by the reported times of those trades?) again at well above the MM ask price at 16.30?

Just whiling away my time trying to get some educashion whilst KM teases us with another deadline.

It seems to me that there is something deeply wrong with the UK markets when trading in 600,000 shares amounting to say £3m (or just 1% of market cap) over 10 days can move the share price by 15-20%.

I am no expert but it appears to me that the combination of the SETS electronic trading system and allowing computer driven trading (probably between 2 accounts controlled by the same ultimate entity with a position in the futures markets) is making the market uninvestable for the private investor. RIP UK Stock Market unless the authorities get on top of this.

Thanks 34ad. Presumably that means that any uplift in value upon IPO from carry value is mainly for the benefit of the investors in the relevant fund or funds that the shawbrook holding is held in but Pollen get benefit from their % management fee applying to a higher AUM figure and perhaps some performance / success fees depending on the detail of the management agreement.......

The private equity owners of Shawbrook are seeking to revive plans for a float of the bank in a potential boost to the London stock market. Some City investors are understood to have been sounded out about a possible initial public offering of Shawbrook, which was bought by BC Partners and Pollen Street Capital for £868 million in 2017. - The Times

I presume this is one of the Assets in the 'New' Pollen. Can anyone confirm?

Mkx - GGP was be far the most significant holding in value terms. As far as I understood things we are likely to get a distribution of (most of?) their holding of Ariana shares at some point once the liquidation is completed. The remainder of the shareholdings they have/had will be sold but only realise a small sum which essentially covers the c£10k costs of the liquidation. Depending on the detail/prices realised, the liquidators may either also need a few pounds of a few Ariana share sales to cover their costs before we get the in specie distribution or there will be a v v small surplus from the realisation of all the other holdings which we would also get in cash - but if so, it will be pennies.

So there has been a reportable short position of at least 0.5% outstanding here continuously for 5 years or more and miraculously it closed out on 20 December.

GGP shares have now been posted in my Interactive Investor Account. Have not seen anything yet in my HL account - but no doubt will show up in the next couple of days.

Announcement on company website

Starvest, the specialist mining and resources investment company, is pleased to provide an update on the Distribution in Specie of its Greatland Gold plc (“Greatland“) shares.

Following Shareholder meetings in November and December 2023, the Company entered into a Members’ Voluntary Liquidation on 20 December 2023 and Michael Solomons and Andrew Pear of Moorfields Advisory were appointed as Liquidators of the Company.

Part of the liquidation of assets involves the Distribution in Specie of the Company’s Greatland shares to Shareholders.

Notices is hereby given that the allocation date of the Distribution is set for 19 January 2024. The final ratio has been calculated at 1.32973066 Greatland shares for every one share of the Company. This is against the previously advised approx. ratio of 1.33 Greatland shares for every one share of the Company in the Notice to Shareholders on 27 October 2023.

It does not appear to mention any other shares e.g. Ariana.

I find it hard not to share HappyLIUK's view that there is a bigger set of global industry / sector forces at play seemingly aided and abetted by EU political constipation and OEM self interest. But then I am reminded that even on todays higher turnover we are still only talking about 0.25% of the shares in issue changing hands.

Anyone got any views on the share price performance of Elemental Altus? Other than the entire market appears to be behaving increasingly schizophrenically and irrationally in my view (or maybe its just because I am a dinosaur in investing terms!)

Can anyone who has worked for/with market makers in the past explain to me why and how a (measly) trade of less than £5k gets executed at 19.25p at 9.39 this am when the bid price was still 20p and then lo and behold the MM's drop the bid price to 19p.

Being a simple soul it seems to me that the seller had no need to sell for less than 20p (the UT had just cleared at 21p!) and the pathetic volume/value did not require the MM's to do anything......but they have.

Thanks

And apologies again. The second meeting is 20th December. Liquidators costs are only £10k (+ rechargeable expenses and any unforeseen items) which feels quite low and suggests to me that: (a) there might be a couple of quid left to distribute as well (b) more importantly, that it is not expected to take long before the in specie share distribution off GGP and Ariana shares.

Apologies for earlier misinformation. Upon checking I see the 2nd general meeting (to vote on resolutions to liquidate the company) is not until 11 December. (the 28th November is when shares are de-listed.)

VanVan - timelines not explicitly stated as far as I can see but they do say promptly after the appointment of the liquidator - the vote for which is on 28th I think. However, my general understanding (from other similar events) is that when the shares are de-listed they will disappear from your brokerage account (and you will feel poorer as a result). At some point the GGP and AAU shares will be credited to your account (and you will feel a lot better). My hope is by year end or end of January at latest (assuming that the liquidator has had time to prep the dissolution of a non-complex company and, in particular, is confident that the costs of doing so can be covered by the sale of all the other small shareholdings).

1st vote today at 12.00