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Real-Time news about Pgi Grp (London Stock Exchange): 0 recent articles
|elmfield: Directors are not able to buy or sell shares in their company for two months before the announcement of results. This is known as the company's 'closed period'.
There is sometimes a flurry of activity in directors' dealings just before the start of the closed period, and just after it has finished, and at both times the dealings may have heightened significance:
* Directors' dealings just before the closed period indicate how they think the results will turn out. If they are buying shares, they think the results will exceed market expectations. If they are selling, they think the results will disappoint the market.
* At the end of the closed period the directors will have had a minimum two months in which they have watched the company's progress but been unable to deal. If they take the chance to acquire or dispose of shares at the end of the closed period, it is a fair sign of how the company has been doing.
2. Distinction from insider dealing
Directors' dealings are legal. Insider dealing is an offence. But when does one become the other?
The test is whether the director was using unpublished price sensitive information which he has got from his job to reach his decision about buying and selling shares.
Note that there are three requirements:
* the information on which he relied is not in the public domain
* the information is price sensitive - i.e. of enough significance to affect the share price
* the director wittingly used the information to reach a decision about buying/selling
The importance of satisfying all three requirements, and the difficulties that directors face, is illustrated by this example.
Tarmac Ltd in late 1999
Several directors of Tarmac Ltd built up their holding over a couple of weeks including Chief Executive, Roy Harrison, who bought 25,000 shares at 398p and Finance Director, Chris Bunker who invested in a total of 17,403 shares. The share price had been depressed due to fears over interest rates but the day after the final purchase, the price rocketed by 34.5% due to a possible bid offer.
The sequence of purchases followed by the sudden rise in share price prompted an investigation by the London Stock Exchange but the directors maintained they knew nothing of the bid until the day after the last purchase.
While directors do run some risk, examples such as this are quite rare.
Here, both the directors and the offeror recognised that the stock was cheap but the directors saw it first.|
|huntie2: erik, sorry that there are not many people responding to your posts, so as a shareholder of some months - 'fraid I came in at the 60p level + the rights, got about 15000 in total. Share price must be awaiting any news of wheeling/dealing out to the East......any news/rumours etc? best regards, huntie|
|eriktherock: Now I see.
" Soon " = in a little, before long.
" Coming " = approaching or next.
e.g. I believe the PGI share price will trade between 52p & 55.75p in the next few weeks. I also believe that in a little while and before to long the PGI share price will trade at around 70p.
Hope all is clear.|
|eriktherock: I should add that Nick Roditi the largest shareholder and former Fund manager for George Soros, was born in Zimbabwe and is commited to invest in more agribusiness ventures in Africa.So PGI are to remain quite a diverse business for the forseeable future imo.
Share price will move in the right direction over the coming weeks as I said earlier. Good luck.|
|typo56: Are they ex rights today or not? Proquote isn't showing an XR flag and the share price hasn't fallen - all things being equal I'd have expected the price to be about 46p this morning. Perhaps they go ex 12 May as someone said - doesn't sound right but I do get confused bewteen record dates and ex dates.|
|tupelohoney: Normally I would expect to be eligible for my discount shares if I was a holder at a certain date prior to the annoucement of the rights issue and certainly not to be able to purchase more and still be entitled to discount at a future date.
The other baffling aspect is the share price, if it holds or indeed increases as eric seems to think, then we have the scenario of getting close to trebling your money on your discounted share entitlement.
Have I got this right or is there something I am missing here?|
|eriktherock: Regarding my above post: The reference to a fair value and a share price of 58/59p in nonesense. There is no current means of valueing this 'new' Company.|
|nickdr99: eriktherock - 23 Feb'05 - 17:46 - 40 of 58
Future announcement will further advance the share price. I'm expecting PGI to be around 70p soon. I'm not providing analitical support to this view however my money is where my mouth is.
Erik - well you're getting closer. Was this what you were referring to, or something else.|
|eriktherock: Future announcement will further advance the share price. I'm expecting PGI to be around 70p soon. I'm not providing analitical support to this view however my money is where my mouth is.|
|hvs: Been watching PGI and looks like it has touched bottom and is on the turn now.
Good movement recently , maybe about to break out.
They were looking at possible acquisitions last year and still looking.Maybe
an announcement due ?
All comments most welcome.
NAV is more than double the current share price.|
Pgi Group share price data is direct from the London Stock Exchange