Brixton Share Discussion Threads

[explorer88] 27/5/2009 11:30

fwiw, Standard Life who hold nearly 5% of BXTN are selling SGRO and buying more BXTN :-)

expect Standard Life BXTN holdings RNS this week too :-)

[sportbilly1976] 27/5/2009 11:22

explorer - I like the theory behind your posts there....

adding strength to a Sergo offer being announced shortly...they wouldnt be selling & buying that quantity of stock otherwise...

[explorer88] 27/5/2009 11:20

newstrader - probably 1,500,000 of buys at 72.5 were UBS. RNS tomorrow.

UBS will probably buy another 3 million (to make 5 million recent purchases), more if JPM sell another 7m chunk of SGRO :-)

[explorer88] 27/5/2009 11:12

scburbs - in essence SGRO and their advisers JPM and UBS will have a detailed plan - who does what & when depending on circumstances (especially the actions of other prospective bidders). JPM selling part of their stake in SGRO, and UBS increasing their stake in BXTN are likely to be part of the overall plan / strategy to acquire BXTN, or maximise profits from the situation if the SGRO bid is not successful.

[news trader] 27/5/2009 11:12

are they delayed buys from earlier or sells ?

[sportbilly1976] 27/5/2009 11:08

and another 500k....


mmmm.....??

[sportbilly1976] 27/5/2009 11:07

1 million just gone through at 72.5p...?

[scburbs] 27/5/2009 10:57

Thanks Explorer.

Please can you explain the strategy a little more. Whilst UBS could potentially be buying BXTN shares on behalf of Segro it is not possible for JPM to be selling SGRO shares on behalf of Segro itself.

The two facts don't immediately seem to fit together unless it is large shareholders switching to access the bid premium rather than SGRO itself trading.

[explorer88] 27/5/2009 10:49

scburbs - today's 10.39 RNS from UBS is, as anticipated, the first significant clue to strategy of SGRO and their advisers.

UBS has purchased 458,844 BXTN at 68.3p giving them 7.7879% holding in BXTN

SGRO's two advisers in the bid for BXTN are JPM and UBS. Effectively JPM are selling SGRO and UBS are buying BXTN as part of the plan. Everything else being equal, substantially all of the JPM SGRO sales so far (at least £3.65m) have been/will be used to buy BXTN (about 5 million BXTN shares)

So, expect more RNS's from UBS re. purchasing BXTN, and probably more RNS's from JPM re. selling SGRO.

It is clear that SGRO are serious about making an offer, and the value of the bid will be well in excess of the current sp, bearing in mind the first significant purchase from UBS was at 68.3p.

[explorer88] 27/5/2009 10:30

scburbs - JPM (who are one of SGRO's advisers) have already sold at least 13,917,063 shares in SGRO at between 25.86 and 26.14

i would not be surprised to see further RNS's from JPM re. sales of SGRO and RNS's from SGRO's advisers/connected parties (UBS, JPM, ML) - especially UBS -re. buying BXTN shares :-)

[scburbs] 27/5/2009 10:28

Sportbilly,

Isn't that a disposal of 6.9m Segro shares by JP Morgan?

Surely you aren't referring to the 11,578 acquisition by JP Morgan? That is far too small to be Segro.

[warmsun] 27/5/2009 10:27

billy,

On the face of it, it would seem that someone is trying to keep the price down?

[sportbilly1976] 27/5/2009 10:27

It is the JPM rns this morning...i am trying to work out if the trade was on behalf of Sergo, or whether it was just a trader at JPM, but that they have to disclose it due to their relationship with Sergo...

[scburbs] 27/5/2009 10:13

Explorer/Sportbilly,

Interesting. Are you speculating that Segro have been buying or has that actually been disclosed. If Segro are buying in the market that would be an extremely positive sign.

[sportbilly1976] 27/5/2009 10:08

warmsun,

I noticed that appeared just before the tick down a few minutes ago...also another 100k at 74p

however, overall order book is 439k v 476k...but take those away and it is almost 2:1...good strength

[warmsun] 27/5/2009 09:59

Someone has put 100k shares on the offer at 73.5p - let's see if it gets gobbled up or if it puts a brake on the share price progressing upwards.

[sportbilly1976] 27/5/2009 09:58

so Sergo bought at prices between 64p and 71p.

any offer they make has to be higher than that price.....so floor under the share price for anyone considering buying at the moment.

[sportbilly1976] 27/5/2009 09:26

LG,

fair enough..as you say we all have different financial objectives.

However, I am in from 50p..so 20p profit so far...but a bid on the table could more than double my current profit....

but I agree...always leave a bit for the next man.

[lord gnome] 27/5/2009 09:24

sportbilly,
I have some financial objectives that are more important to me than squeezing the last drop out of this position. Another 3p and I'm out with all achieved. Big smile time. I've already bought Lady Gnome some nice new sparklers with my yet-to-be-taken profits, so I will need the cash. :-)))

[sportbilly1976] 27/5/2009 09:19

LG,

It is refreshing isn't it??

I, like many others I imagine, are waiting for someone to come out with an offer and we will reassess at that point...it would seem that a price of between 100-140p would be successful, and so people are being patient.

I have also raised my stop though should a "talks are off" rns come out..

[lord gnome] 27/5/2009 09:14

I have never been so keen to take profits on a position. My sell finger is getting very itchy. Amazed to see that this board is still so quiet. Totally muppet-free zone.

[sportbilly1976] 27/5/2009 09:14

morning folks.....

seems to be a steadier rise this am compared to the previous 2 spikes..

[warmsun] 27/5/2009 08:35

Slowly but surely, upwards we go :-)

[explorer88] 27/5/2009 08:13

morning shammy. well there are going to be loads of RNS's over the next few days re. holdings in BXTN - over 20 million shares have been traded in the two days since the announcement of takeover approaches for the business.

(edit: i'm particularly looking out for RNS's from UBS (JPM and ML) to give a clue as to SGRO's strategy.)

[shammytime] 27/5/2009 08:08

Nice start to the day - could be some news out today I would imagine ;-)