Byotrol Share Discussion Threads

[tomboyb] 13/11/2018 16:16

RNS out -

Seller down from over 4.6% to 0.95% left -

[mudbath] 13/11/2018 11:40

That is excellent news tomboyb!

Evidence of more buying in progress,currently.

[tomboyb] 13/11/2018 11:30

dir 1 mill purchase

[mudbath] 13/11/2018 09:36

Don't know the answer there 1gw.

Ruffer are though conducting a "fire sale" and I would not be surprised if we see wholesale buying from Byotrol Directors' and others with a significant interest in the company;never mind some institutional buying.

[1gw] 12/11/2018 22:01

Thanks for that. I did wonder. Do the MMs sometimes do a flat fee rather than a margin?

If you're right that Ruffer's sales were also in the reported volume then Friday's volume would be a reasonable match for the 4.5m Ruffer sale declared today, but that still leaves the bigger volume on Thursday. Could some of that be accounted for by the "missing" Ruffer sale (since 30th August) of 6.4m or so shares?

[mudbath] 12/11/2018 21:39

1gw
Although the 2.3pence trades all look like buys,around half of them are sells.
Take for example the bottom two buys,which were mine,totalling 342,435.Strangely at midday there was a supposed buy for exactly the same amount of stock.A similar pattern existed on Friday.
Peculiar,but it does look as though a MM is giving up his margin to Ruffer who are doubtless exceedingly good clients,in order to facilitate the disposal.

12-Nov-18 12:00: 342,435 Buy* 2.3

12-Nov-18 09:22: 169,044 Buy* 2.3

12-Nov-18 09:21: 173,391 Buy* 2.3.

[1gw] 12/11/2018 21:01

So we seem to have missed the 12% to 11% notification from Ruffer. Today's notice says their previous notification was 11% whereas the last one published seems to be the 12% notification (55.5m shares) caused by Medimark acquisition dilution as of 30th August.

The 10.9m shares sold since 30th August is awfully close to the 10.9m shares that went through at 2.3p on Friday, but the RNS says they sold only 4.5m shares on Friday, at least as I read it.

Is there another seller due a notice? As well as the 10.9m going through at 2.3p on Friday we had 20m odd shares volume reported (by ADVFN at least) on 8th November (for a total of around 25m over the 2 days at 10.3p as per my earlier post), so who was behind the 8th November volume, if not Ruffer?

[mudbath] 12/11/2018 18:23

Today's RNS indicates that Ruffer have reduced their holding in Byotrol shares by 10,906,205 since September 3rd,with the residual figure now standing at 44,627,154.

[mudbath] 12/11/2018 09:57

I think that there has been further trading in BYOT shares this morning football;reporting of the trades has just been delayed somewhat.

The outlook statement in the Byotrol results concluded thus:-

"Our belief that competitor products would start disappearing as regulations bite seems to be materialising. This has been something of a slow burn to date, but regulatory rules are now having an effect and our telephones are ringing more often from companies that were historically competitors but that are now seeking technically-oriented suppliers and partners."

Add to this the targeted EBITDA from Medimark for the current year of £500,000 and it could just be that BYOT starts to look more attractive both as an investment and/or as an acquisition.

Interim results to Sept 30th 2018 are normally available in mid December.

At the current buy price of 2.3 pence,Byotrol shares look particularly interesting(to me anyway).

[football] 12/11/2018 08:33

Non-stop buying last week and so far today not they trade

[mudbath] 11/11/2018 11:43

As Medimark Scientific Ltd accepted Byotrol shares, at a price at 4.1 pence, for both the upfront and any deferred part considerations,then Paul and Richard Hayman,the Medimark Directors,must have been satisfied that this was a fair valuation;a judgement that they were well qualified to make.

The current actual trading spread of 2.275/2.3 is seemingly pitched at a level which will enable a holder to exit or reduce their position without delay.

We do not know as yet the order depth.

[ny boy] 11/11/2018 00:01

Going bust?

[1gw] 10/11/2018 14:37

No idea. It might be worth asking the investor relations contact once we know who has sold.

[loafofbread] 10/11/2018 10:02

Any idea why they are selling out?

[1gw] 09/11/2018 17:32

That looks like about 25m shares gone through at 2.30 over the last 2 days. If that's the other side of a single sell order then it's about the right number for any of Walker Crips, Amati or Fidelity to be out or alternatively a bit less than 1/2 of Ruffer's holding.

Holdings notice next week presumably.

[riddlerone] 09/11/2018 16:38

Thanks 1gw didnt see that clause

[football] 09/11/2018 16:21

Isn't the sales team in America and here have there options at 5p+ so we need the share price to at least double to benefit from any options they get

[1gw] 09/11/2018 15:41

From the 23rd August announcement:

"Executive management staying with the combined business for the earnout and beyond, with incentives closely aligned with Byotrol shareholders. Executive management locked-in from share sales for three years from completion."

[1gw] 09/11/2018 11:46

I'd be surprised if there wasn't a lock-up period.

[riddlerone] 09/11/2018 09:36

Maybe its Medimark directors taking a few quid out of the buyout.I didnt see any restrictions in the acquisition and if it were me i would derisk my position knowing more deferred shares on the way for the next few years.

[1gw] 09/11/2018 09:19

And another purchase for me to take out some more of the apparent overhang. Just have to hope it's a single shareholder exiting rather than the start of a queue!

[1gw] 09/11/2018 08:07

I've kicked things off with a few more this morning.

[riddlerone] 08/11/2018 16:41

Joined you today 1gw,this started back on Tuesday which seemed to be the lowest price with the offer gradually increasing as has the volume