Listen to our latest Investing Matters Podcast episode 'Uncovering opportunities with investment trusts' with The AIC's Richard Stone here.
If the MT flanks is confirmed I am expecting this to re-rate into the 40s ...
The ACF valuation of 54.8p - 60.6p included the MT flanks but at 30% per year discount due to the risk of the license and EPC contract not being in place.
Thank goodness for that ! (It would have been literally unbelievable!)
I assume the actual data room includes 3D models of the MT assets built up from historical records, presumably that is what Absolute Precision were assisting with?
No problem avfc - yes previously the owner's name was given as Ananieva, believed to be the wife of one of the Ananiev brothers who were/are linked with Promsvyazbank. There was some rumour that their assets could be taken away I think.
Presumably we will find out who the ii is when they have to declare their >1% interest under the FSP rules ...
33,927,057 new ordinary shares (the "Placing Shares") will be issued pursuant to the Placing, representing 1.23 per cent of the Company's fully diluted share capital of 2,758,701,681 ordinary shares, as enlarged by the Placing.
The retail brokers don't seem to lend shares but it's worth checking their terms and conditions. Note these may be different for an ISA or SIPP account vs. a trading account.
HL Ts and Cs state: "Investments will not be lent to a third party and we will not borrow money against your investments. "
Barclays Smart Investor terms state " We will not engage in stock lending for any Asset in your Account."
Interactive Investors seem to have a different policy. Their ISA terms state:
"You agree that we may act for other customers in a wide range of transactions with interests that differ from, or conflict with, yours. You also agree that we will not be required to disclose to you information known to us (or another member of our Group) that is confidential to those parties and may be relevant to your interests."
Clearly it's worth checking !
Interesting to note around 400K shares dealt in mid-price trades (showing as 'Unknowns') on Friday after 3pm when the SP jumped. As the SP was rising I assume these were likely to be Buys. Could this be the MMs accumulating for a large buyer ..?
Also interesting listening to interviews with Spencer Crooks (real name!), Director of Market Making at Winterfloods - thanks to GeckoLovesGreed for these links.
From 16.00 mins in to Part 2, Crooks explains how MMs receive anonymous orders from large customers via dark pools. The example he gives is an instruction from a dark pool to the MM to keep buying or selling *at the mid-price* ...
https://www.youtube.com/watch?v=8FRvtuyZh3E
https://www.youtube.com/watch?v=YUGWwR9FzwY
Morning Infora
Good thought re NDAs but I think licenses are confirmed in regular notices posted by the issuing authority - therefore will be in the public domain.
Also the license will be issued to the MT operator Terskaya ...
Morning all
If Jub are just acting as agent presumably they will have to pursue their clients for the money ... The wording of the notice from the Exchange to Jubilee seemed to suggest the Exchange might pursue the clients directly ... either way the individuals are in deep unowhat!