BrahimHemdani 1 Posted January 15, 2014 Share Posted January 15, 2014 Easdales? Could be that they already have the voting rights which have been disclosed and therefore no further disclosure is required? Don't know how these things work. Apparently YES, you do. The FSA has implemented the EU Transparency Directive (TD) so that for UK-issuer s the previous notification thresholds are retained (usually when a shareholding reaches 3% and at each percentage point thereafter). http://www.burges-salmon.com/Practices/corporate/Publications/Disclosure_and_Transparency_Rules.pdf However at the moment, there is no purchase showing so it looks like a broker is sitting on around 2,000,000 shares hoping to find a buyer at above 24p. Don't know what the rules are about that. Largest transaction so far today is 50,000 bought for 28p. 0 Quote Link to post Share on other sites More sharing options...
Zappa 0 Posted January 15, 2014 Share Posted January 15, 2014 However at the moment, there is no purchase showing so it looks like a broker is sitting on around 2,000,000 shares hoping to find a buyer at above 24p. Don't know what the rules are about that. Largest transaction so far today is 50,000 bought for 28p. I had thought that 2,500,000 (2 blocks of a million shares and 2 blocks of 250k shares) were dumped and sold to a buyer at the 'sell price' while at roughly the same time someone offered to buy a further 250k shares and someone sold them. How would you know that 2 million shares from the 3 million traded weren't sold to a buyer and a broker is sitting on them? 0 Quote Link to post Share on other sites More sharing options...
compo 6,228 Posted January 15, 2014 Share Posted January 15, 2014 looks like hughes has made a nice profit from his penny shares 0 Quote Link to post Share on other sites More sharing options...
Steve1872 4 Posted January 15, 2014 Share Posted January 15, 2014 New Notifiable Interest in Rangers shareholding - Damille Investments II Ltd http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=11834982 … 0 Quote Link to post Share on other sites More sharing options...
chilledbear 16 Posted January 15, 2014 Share Posted January 15, 2014 More of the same. 0 Quote Link to post Share on other sites More sharing options...
Calgacus 8 Posted January 15, 2014 Share Posted January 15, 2014 There is a company registered in Guernsey with that name...if it is the same company they look a bit on the "activist" side! 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,356 Posted January 15, 2014 Share Posted January 15, 2014 There is a company registered in Guernsey with that name...if it is the same company they look a bit on the "activist" side! Looks like it's the same company. Quoted on the London Stock Exchange. Overview Damille Investments II Limited (LSE DIL2) (the "Company") is a Guernsey registered, closed-ended investment company which listed on the Specialist Fund Market of the London Stock Exchange and the Channel Islands Stock Exchange on 9 November 2011. Investment Objectives and Policy The Company invests in a concentrated portfolio of primarily equity securities of issuers that the Executive Directors consider can properly be valued using a NAV Valuation Basis, as well as the securities of certain issuers that the Executive Directors consider can properly be valued using other appropriate valuation criteria, such as cash flow, earnings and dividend discount model based methodologies. In the opinion of the Company, many but not all of these companies would benefit from implementing certain measures to optimise their balance sheets and align management and shareholder interests. Such Investee Companies are expected to be, but will not be limited to, closed-ended investment funds, investment companies and other corporate entities such as real estate companies or natural resource companies." Doesn't make great reading. 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,356 Posted January 15, 2014 Share Posted January 15, 2014 Interestingly enough the shares are being held by Schweco Nominees Limited (on behalf of Damille Investments II Limited) who are owned by Paul E Schweder Miller & Co who were fined last year for attempts to manipulate the share prices. It goes from bad to worse. 0 Quote Link to post Share on other sites More sharing options...
BrahimHemdani 1 Posted January 15, 2014 Share Posted January 15, 2014 (edited) I had thought that 2,500,000 (2 blocks of a million shares and 2 blocks of 250k shares) were dumped and sold to a buyer at the 'sell price' while at roughly the same time someone offered to buy a further 250k shares and someone sold them. How would you know that 2 million shares from the 3 million traded weren't sold to a buyer and a broker is sitting on them? As I understand it, SELL just means sold to the market maker; unless I missed it (and I wasn't checking on it every minute) there was no corresponding BUY for the balance of 2.25 million. Theoretically you are right that the number of sellers has to be matched by the number of buyers but if there are a large number of sellers or a small number selling a large volume in an illiquid market, because the Market Maker's job is to provide liquidity, he has to buy those shares even though there are no buyers at that precise moment in time. If the price continues to fall he could be left with a lot of stock on his hands that he paid considerably higher prices for than he can sell for in the market. Of course the opposite may also apply - if the shares start to go up the Market Maker has to continue selling the stock to the buyers; so he could end up "short" of stock i.e. he has sold stock he has not got and he has to buy this stock in at higher prices to balance his books, so he makes a loss. I am by no means an expert in stock market trading but one of the issues is that I believe that there are only one or two market makers in Rangers shares, which adds to the liquidity problems. I am told that there is no rule that a market maker has to close his book daily but he does have to offer to buy and sell the stock in which he is making a market. So there are three possibilities based on what we know: 1. The market maker(s) is holding 2.25 million shares on his book and theoretically is sitting on a book profit of around £100,000. He might do this if he is confident that he has a buyer(s) up to a certain price but that buyer hasn’t got his act together yet or is playing for time hoping the price will come down again. 2. He has sold but the sale just hasn’t been reported yet; I’m not certain of the mechanics but I think you can delay the information becoming public for about a week subject to the 3% reporting requirements; which might mean that it is more likely that - 3. The shares have been placed with different buyers but again just haven’t been reported yet or some combination of the above. The market maker may have committed his own capital to hold shares on his books when no-one else was buying because he saw a potential profit and he viewed it as an acceptable risk. Edit: based on recent posts looks like (2) above. Edited January 15, 2014 by BrahimHemdani 0 Quote Link to post Share on other sites More sharing options...
chilledbear 16 Posted January 15, 2014 Share Posted January 15, 2014 Interestingly enough the shares are being held by Schweco Nominees Limited (on behalf of Damille Investments II Limited) who are owned by Paul E Schweder Miller & Co who were fined last year for attempts to manipulate the share prices. It goes from bad to worse. Never ending story right enough, make you weep. 0 Quote Link to post Share on other sites More sharing options...
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