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CRC Circle Property Plc

3.50
0.00 (0.00%)
Last Updated: 00:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Circle Property Plc LSE:CRC London Ordinary Share JE00BYP0CK63 ORD NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 3.50 3.00 4.00 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Circle Property Share Discussion Threads

Showing 1551 to 1575 of 1650 messages
Chat Pages: 66  65  64  63  62  61  60  59  58  57  56  55  Older
DateSubjectAuthorDiscuss
03/7/2007
14:41
Possible takeover

Copper Resources RE: SUBSTANTIAL SHAREHOLDINGS


Immediate Release 3rd July 2007 COPPER RESOURCES CORPORATION RE: SUBSTANTIAL SHAREHOLDINGS LONDON, United Kingdom - 3rd July 2007Copper Resources Corporation ("CRC" or "the Company") has received a letter
dated 2 July 2007 from George Forrest International Afrique s.p.r.l. ("GFIA")
stating that GFIA, together with related companies ("the Forrest Group") that
hold shares in the Company, have entered into an exclusive agreement with
Metorex Limited with a view to the possible purchase of and/or share exchange
in respect of all of the shares in the Company in which the Forrest Group is
directly or indirectly interested and/or the assets of the Company. The letter
indicates that GFIA has procured that this possible transaction would be
accompanied by an offer by Metorex to the minority shareholders in CRC on the
same terms as those agreed with the Forrest Group.
L'Enterprise Generale Malta Forrest sprl, a Forrest Group company, currently
holds 21,597,121 common shares in the Company, representing 30.57 per cent of
the issued share capital of CRC.
Copper Resources Nabarro Wells & Fox-Davies GTH
Corporation Co. Limited Capital Limited
Communications

Mitchell Alland Hugh Oram Richard Hail Toby Hall

Executive Vice
Chairman

+44 (0) +44 (0) +44 (0) 207 936 +44 (0)
5200
78 7569 5563 20 7710 7400 20 7153 8035 END

douggy b
29/6/2007
09:26
So the results today had nothing new in them on the development front. Makes you wonder why they released the project update two weeks earlier & not released them both at the same time rather than leaving the results until the last minute?

Surprising that they managed to lose money on the smelting of Cu from the wastepile at Kinsenda considering how high the Cu prices are. Also the admin costs have shot up year on year through employee salaries, presumably to do with getting Kinsenda up and running,etc.

Why did they not include the material shareholding? I thought this was a requirement for final accounts? Presumably they will be in the full glossy set.

douggy b
28/6/2007
06:43
So were LR shares bought by ML or someone else?
Who bought ML 10% holding?
Still none the wiser!

douggy b
27/6/2007
06:40
"Insider dealing isn't just restricted to good news when you buy or bad news when you're going to sell"

yes, it is (well, almost)! Insider dealing only applies when the buy/sell was "on the basis of" the information at hand (MAR 1.3.2.1)- i.e: if the information either ran counter to the decision to deal (as in this case information of a delay would) or was unimportant then is is not insider dealing. Or as summarised in Mar 1.3.4:

"In the opinion of the FSA, if the inside information is the reason for, or a material influence on, the decision to deal or attempt to deal, that indicates that the person's behaviour is "on the basis of" inside information"

novicedave
26/6/2007
10:02
Another 3.3m changed hands today. Followed by what looks like a min treeshake.
Expect a further kick up later today.

One rationale for the sudden buying after the announcement is that they are related parties and / or had prior knowledge but under LSE rules couldn't act on insider knowledge. On release of the information the whole market had the same information and then they could start buying.
Insider dealing isn't just restricted to good news when you buy or bad news when you're going to sell.

One things for sure that eventually there has to be an annoucement about who's now owning all these shares. I just hope we don't have to wait until June 2008 (2007 final accounts) to find out!

douggy b
26/6/2007
09:30
One company that is developing its asset base in the DRC is Mwana Africa. It may be one possibility.
plunge
26/6/2007
09:14
I don't really go with the mugging argument.

The company informed the market of pretty severe setbacks in its two main projects which would normally have led to a significant fall in the SP, perhaps 25% or more.

Someone obviously values CRC at more than the market and has bought up a load of shares at higher than would have been the prevailing price.

I think those who sold out on the RNS didn't benefit from the 40% gain subsequently but similarly didn't suffer the 25% fall that might otherwise have been the case.

The RNS presented our mystery buyer the opportunity to get the quantity of shares he wanted at the price he wanted. This price is probably double what it would have been otherwise.

Whether he colluded with management as to the timing of the purchase I don't know. However I suspect if they were buying in that quantity they would have had first hand knowledge of the mine situatio and were just biding their opportunity.

Personally I think if they had bided their time a bit longer they may have got them cheaper to the greater detriment of those who now feel mugged.

kimboy2
26/6/2007
08:57
I had a fair chunk of these and like a previous poster said, am feeling somewhat mugged. With the news release and the torrent of selling these shares should have dropped at least 25% and would have normally. Hence most rational investors will have been pleased at the time to scuttle off with so little damage done. Of course, if one assumes that the Directors were informing investors of the current situation in good faith and coincidentally someone was standing in the wings ready to sop up all these shares (about 30% of the company I would have thought) who had no prior knowledge that this announcement was going to be made, then that is all good and fine, and basically our bad luck that someone else saw value when we were just glad to get out.

However, if one looked at the theoretical situation, which of course would not be the case here, that directors were to release a negative announcement in the certain knowledge that it would provoke significant selling, and that their associates had prior knowledge of the announcement and took up all the available stock released as a result of the announcement then that would be market manipulation of the worst sort and certainly illegal. Its just good that this is clearly not the case here.

It will be very interesting to see who these far sighted investors are who have picked up the stock.

pentangle
26/6/2007
06:58
Under related party transaction disclosures if a 'Forrest company' was involved in any accumulation / deal CRC would be oblidged to disclose any transaction that exceeds 5% (Aim rule 13). Both Forrests are non exec directors and through their shareholdings are substantial shareholders (directly or indirectly own 10%).
If you talk to Fox Davies again try putting that point to them.

douggy b
25/6/2007
20:44
I agree with the collusion argument. That statement the company came out with a couple of weeks ago seemed designed to drive down the price, and yet someone just sat there all day picking up all the stock going, so that by the end of the day some 22mill shares had changed hands which equates to some 30% of the company. Its almost as if it were planned...?

And get this...according to Fox Davies, the disclosure rules are different for non UK registered companies even if they are listed on AIM. Unbelievable but apparently true. You dont have to declare your interest until it gets to 29.9%!!

But another interesting idea has occurred to me..what if Katanga Mining were to be accumulating ahead of a bid? George Forrest owns about 25% of Katanga and is currently under threat from aggressive stake building by CAMEC. If Katanga were to bid, it would (a) consolidate GF's position (b)create a world class DRC mining concern and (c) dilute CAMEC. Possible, n'est pas?

For that matter, maybe CAMEC is agressively stake building also for the same reasons...They have big hedge fund support too....

The long and short of it is that this company is worth a helluva lot more than the current share price and it has been noted. Its all to play for...

trouseredthelot
25/6/2007
15:46
With approx 40% held by Forrest it is hard believe that anyone is able to buy so many shares without their involvement. The problem is that very few investors seem to disclose to CRC when their material holdings change, either that CRC don't disclose them!
Last time I checked approx 75% were held by named holders.Buying 25% stake when 75% is held by material holders is practically impossible unless you have some collusion / deal going on.
If you gain 30% holding you are obliged to make a takeover offer under AIM rules aren't you?

I bet that when the results come out later this week the 3% holdings are very different from the last accounts & any movements on the RNS released in between.

Sudden pick again this afternoon can only mean that there is another large buy order being filled. Expect a further rise tomorrow or a large trade going through first thing as a late trade.

douggy b
25/6/2007
15:37
I'd lay money on the fact that the 2 New York based hedge funds who came in at the off when this company first floated are the ones who have been buying recently. Actually I have laid money on it... I wouldn't be at all surprised if they and George Forrest are planning to take this company private on the cheap and relist it in 2 years time once its producing healthily at a £400 mill valuation.

Interestingly, I'm told that Fox Davies, the broker, don't know whats going on either and that they haven't been doing the buying. But someone somewhere has picked up a 25% stake in the last 2 weeks by my reckoning.

trouseredthelot
25/6/2007
10:13
well, well, down to start...

Anybody hear/see any reasons for the dramatic change ?

unionhall
24/6/2007
19:40
Either up or down - unlikely to stand still one suspects.
unionhall
24/6/2007
17:22
stock added to ups, would expect some serious upside action to follow in the morning.
dave leach
24/6/2007
08:05
I think everyone sold out after the announcement re: delays to Kisenda so most people are out. Hence the mooted response to a stellar move.
badgerry
23/6/2007
14:24
looks like given the muted board then not many people in this one. Never seen a stock move like that late friday and you coudn't get a worthwhile amount for love nor money. Someone mentioned you could sell 100000 at middle though!! Suspect the rise will continue monday unless they announce a bid pre market. Huge trades in 20 mins of end of day action.
dave leach
22/6/2007
16:01
Trustman, same here.
drewz
22/6/2007
16:00
I suppose the next question is whether the bid will be at 115p or higher!! Not quite cricket the way this is playing out. Must be some yankie hedge funds involved!!
badgerry
22/6/2007
15:45
Feeling mugged!
Sold on depressing statement......looked at buying on move to 90's ....tooo slow......and now wondering, who knew what when!

trustman
22/6/2007
15:41
Probably irrelevent but the results are due out next week, end of June at latest.
douggy b
22/6/2007
15:40
6.5m was an x trade, so off market. Something clearly brewing here - thought price action was strange after Kinsenda disappointment.
andrewis
22/6/2007
15:38
looks good, roll on monday morn and an rns to see who got what.
bigbobjoylove
22/6/2007
15:36
6.5m buy order at 115. Someone wanted a big stake at 115 it would seem.
I wonder if this has anything to do with the large buys after the drilling update?
A takeover?
CRC have always been poor at disclosing material holdings doubt whether we'll hear anything this time.

douggy b
22/6/2007
15:26
can sell 100000 online!
bigbobjoylove
Chat Pages: 66  65  64  63  62  61  60  59  58  57  56  55  Older

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