Zappa 0 Posted January 14, 2014 Share Posted January 14, 2014 It's only a question from someone who doesn't understand these things, but is £600K such a big deal in the grand scheme of things? It's not so much the monetary value, but the fact that 2.5m shares in RIFC plc is almost 4% of the company, so it depends who's selling and who's buying. 4% is a considerable chunk of shares, but it might just be the spivs selling backwards and forwards to one another again to drive the price back up and it has indeed started going back up. 0 Quote Link to post Share on other sites More sharing options...
Zappa 0 Posted January 14, 2014 Share Posted January 14, 2014 Am I correct in thinking that we will find out shortly who the buyer is?Announcement tomorrow or somesuch. God help us if it's Laxey. if they have all been bought (or sold) by a single person/group, and they cross certain threshold's it would need to be announced. Yes, I think any shareholder with 3% or more need to have any trades that increase or decrease their holding by 1% or more reported on the market. Obviously there's the basic requirement for announcing a shareholder has gone over the 3% threshold too, so if it was a new shareholder who bought 2.5m shares they would need to be declared. 0 Quote Link to post Share on other sites More sharing options...
BeardyGuts 6 Posted January 14, 2014 Share Posted January 14, 2014 It's not so much the monetary value, but the fact that 2.5m shares in RIFC plc is almost 4% of the company, so it depends who's selling and who's buying. 4% is a considerable chunk of shares, but it might just be the spivs selling backwards and forwards to one another again to drive the price back up and it has indeed started going back up. I'm nae an expert but would that not be illegal? 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted January 14, 2014 Share Posted January 14, 2014 someone bailing out before the real collapse? 0 Quote Link to post Share on other sites More sharing options...
Scott7 5,197 Posted January 14, 2014 Share Posted January 14, 2014 "someone bailing out before the real collapse?" Yes, but who is bailing in? 0 Quote Link to post Share on other sites More sharing options...
the gunslinger 3,366 Posted January 14, 2014 Share Posted January 14, 2014 a speculator probably. 0 Quote Link to post Share on other sites More sharing options...
Zappa 0 Posted January 14, 2014 Share Posted January 14, 2014 I'm nae an expert but would that not be illegal? Yes, but it would probably be almost impossible to prove any illegality. I don't think it would be the first time they had done it either. For what it's worth though, I think there's a very high chance that it's the hedge fund Laxey Partners buying more shares and if they bought another 4% today they'd have about 16%. 0 Quote Link to post Share on other sites More sharing options...
BrahimHemdani 1 Posted January 14, 2014 Share Posted January 14, 2014 Was there actually a buy recorded for the balance of 2.25 million between 13:05 and 13:24? I missed this today and was actually going to stop posting lest the price falls became self-fulfilling. More buyers than sellers after 1.30pm certainly and the price back up to 28/29p. Looks to me like 24p was a stop loss price for someone or something. If those were shares bought at 70p then someone's taken a £1.15 million hit. 0 Quote Link to post Share on other sites More sharing options...
BrahimHemdani 1 Posted January 14, 2014 Share Posted January 14, 2014 a speculator probably. If it was then they made £100,000 in about an hour, on paper that is anyway. 0 Quote Link to post Share on other sites More sharing options...
BrahimHemdani 1 Posted January 14, 2014 Share Posted January 14, 2014 Yes, but it would probably be almost impossible to prove any illegality. I don't think it would be the first time they had done it either. For what it's worth though, I think there's a very high chance that it's the hedge fund Laxey Partners buying more shares and if they bought another 4% today they'd have about 16%. If it was then they may well have been just averaging down the price of their holding. 0 Quote Link to post Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.