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Quindell also confirmed that non-executive director Steve Scott had used some of the money raised to settle a personal tax bill, following the revelation in yesterday’s Daily Mail that he had used the funds for personal expenditure. The clarification, which analysts said raised more questions than it answered, came after Quindell’s earlier announcement was found to be in breach of listing rules. AIM rule 17 states: ‘An AIM company must issue notification without delay of any deals by directors disclosing, insofar as it has such information, the information specified.’ It is understood that the AIM regulation team stepped in and forced yesterday’s admission. In the document, Quindell revealed Terry had sold £7.5million of shares to Equities First Holdings, a company that specialises in such arrangements. With this money he had bought £1.2m of Quindell stock. Finance director Laurence Moorse sold £169,000 of shares in order to buy £62,000 worth of stock. Non-executive Scott, an old business associate of Terry, sold £1.1million in order to buy £873,000 on shares. The company stressed the arrangement would allow the trio to buy more shares in the coming two years, when they can buy back the shares they sold – at the same price. Equities First Holdings has the rights to sell the shares in the interim period. Read more: http://www.thisismoney.co.uk/money/markets/article... Follow us: @MailOnline on Twitter | DailyMail on Facebook
g4ry13 said:
Is Tesco no longer of interest to people? Recovery stock play? (even though it's gone up quite a bit lately)
I bought tesco at their lowest around 17x something. Looking like a good hold for 3-5 years. But the again its my starting account , so i only put 200 on, and 200 on BP. I still have 600 left and have stalled in my decision making.Forgive me for asking another daft question but where does the 50% come from in the Fidelity story? I glanced at the RNS and it suggested a lower sale, but it's never that simple.
Do they have to report once they go below 5%? If so, how do we know it's not all gone?
Do they have to report once they go below 5%? If so, how do we know it's not all gone?
Edited by trashbat on Thursday 13th November 16:31
Oakey said:
vescaegg said:
I see Fidelity have sold 50% of their 40m QPP shares....
And the faithful either refuse to believe it or insist it's a good thing!Some of them thought that the Fidelity sell was actually a buy.
It's incredible that they have punted their money on something that they fundamentally do not understand.
At all.
trashbat said:
Forgive me for asking another daft question but where does the 50% come from in the Fidelity story? I glanced at the RNS and it suggested a lower sale, but it's never that simple.
Do they have to report once they go below 5%? If so, how do we know it's not all gone?
I believe 10% and 5% are notifiable thresholds. Do they have to report once they go below 5%? If so, how do we know it's not all gone?
Edited by trashbat on Thursday 13th November 16:31
They previously held 9.5% approx and they now hold 4.9%. So whilst they only sold 2.7m shares recently, the 15m off they sold from 9.5% to 5% didnt cross any thresholds I guess. But now they dropped the final 0.1% down to 4.9%, its popped up. They have probably been selling for quite a while but no one has known about it.
They had something like 40m shares and now have around 21m.
They must have lost a fortune on them so far; whilst their average was probably low, I seem to remember them adding a fair amount when the price was in the 400-600p range.
Edited by vescaegg on Thursday 13th November 16:46
Note that Fido could be continuing to sell.
So at disclosure they held 4.9% but no one knows now. I don't think they need to disclose again but I am not 100% sure.
(i.e. they don't have to disclose at 4%, 3%, 2% etc...)
I am just now skim-reading the Gotham piece.
My favourite line so far "Britain is referred to as the 'whiplash capital of Europe' (whiplash, as in the neck injury)."
Fantastic clarification!
So at disclosure they held 4.9% but no one knows now. I don't think they need to disclose again but I am not 100% sure.
(i.e. they don't have to disclose at 4%, 3%, 2% etc...)
I am just now skim-reading the Gotham piece.
My favourite line so far "Britain is referred to as the 'whiplash capital of Europe' (whiplash, as in the neck injury)."
Fantastic clarification!
walm said:
Note that Fido could be continuing to sell.
So at disclosure they held 4.9% but no one knows now. I don't think they need to disclose again but I am not 100% sure.
(i.e. they don't have to disclose at 4%, 3%, 2% etc...)
I am just now skim-reading the Gotham piece.
My favourite line so far "Britain is referred to as the 'whiplash capital of Europe' (whiplash, as in the neck injury)."
Fantastic clarification!
I can believe it, I bumped a stationary vehicle recently at around 3mph and scuffed their paintwork slightly, I offered to pay but they insisted on using their insurer. Within two weeks my insurer notified me they'd put an injury claim in!So at disclosure they held 4.9% but no one knows now. I don't think they need to disclose again but I am not 100% sure.
(i.e. they don't have to disclose at 4%, 3%, 2% etc...)
I am just now skim-reading the Gotham piece.
My favourite line so far "Britain is referred to as the 'whiplash capital of Europe' (whiplash, as in the neck injury)."
Fantastic clarification!
vescaegg said:
What have apple done in the last few days to warrant such a rise?
Seems more of a momentum play. Formed a base at the 103-98 range for 3 or 4 weeks before moving up into the 107-109 range for 7 or 8 sessions, while flagging. Tuesday I suspect a lot of traders moved in for the momentum pop above the 52 week high. That aside had a few upgrades and higher price targets, always surprised people actually take notice of analysts upgrades but it seems to have an effect.
Not that you should take notice but last paragraph of UBS upgrade:
"Our data is most encouraging for Apple, which we believe if Apple were valued more like a subscription businesses with low churn, its market cap might be able to double and would have upside potential to US $266 per share"
I'm still sticking to my $120 year end target, iPhone 6 effect is all but baked in at current levels, probably around 70million iPhone units more than that should pop the stock at January earnings. After that it's all about how good the watch numbers are for further upside.
Edited by twinturboz on Thursday 13th November 17:38
Edited by twinturboz on Thursday 13th November 17:42
Oakey said:
I can believe it, I bumped a stationary vehicle recently at around 3mph and scuffed their paintwork slightly, I offered to pay but they insisted on using their insurer. Within two weeks my insurer notified me they'd put an injury claim in!
Oh - I have no doubt.I was just amused that Gotham worried that their readers were thinking whiplash involved whips rather than neck injuries!
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