Egdon Resources Share Discussion Threads

[the big fella] 09/5/2017 10:25

Been forced down by fund selling. Given the volume the last couple of days they must nearly be out or are out. As such these will bounce strongly IMHO.

[fardels bear] 09/5/2017 10:23

Do we have any more wobbly iis?

[currypasty] 09/5/2017 10:18

thanks to paleje
"Dear Sir,
There is no business reason for the recent movement in the share price. There appears to be a seller of more than average volume which has resulted in the fall. We are of course closely monitoring the situation.
Best Regards
Mark"



Well done Mark, and the Nomad for being so pro-active, well monitored!!

now under £20m mcap, was £40m a few months ago

[currypasty] 09/5/2017 10:14

I think I bought your 16p shares, expecting the planning to sail through!!

Appeal must be close now. Cut off day for representations was last friday

[guesswhosback] 09/5/2017 09:35

Either way Curry this is a stupid price for EDR. What a great opportunity. Thank you JPM.

I sold at 16p just before wressell rejection. Very happy to be back again. IMHO

[currypasty] 09/5/2017 09:06

I think the MM's are out of cheap stock from JPM, they have just rejected a 100k normal buy (t2), and also failed it on fill or kill.

It will be interesting to see who has picked the stock up in holdings rns.. if they can be bothered notifying!!

[jusmasel99] 08/5/2017 14:40

Well Mr CP at least we can benefit from hindsight here. M&G did exactly the same last year to poor old (soon to be magnificently wealthy) EOG and as a result pulled the share price down to a ridiculously low level (I still have several open trades from then under 3.5p) This is now a bargain for EDR shareholders now that they know the reason why.

In EOGs case they didn't reveal publicly why they had chosen EOG to sell but they did comment to the market that their investors were pulling out of their fund because of Brexit. It might be the same sort of reason here totally unconnected with EDR which is why I have spent some time today looking for similar tales from other companies where they are invested. No Luck so far.

[jusmasel99] 08/5/2017 13:49

These guys are meant to be professionals! 6.5p? and they paid what for them? EDR well worth 15p plus. Just like M&G last year - sold 9m shares in EOG to one of our directors for 4p a share. Maybe a drop in the ocean to them but it still represents a loss which could well have been a gain.

[currypasty] 08/5/2017 13:34

well, either way, its likely the 15.4m trade just shown was them, which leaves about 6m shares till they are out. The market buys the last few days should pretty much account for that, or just a few dregs left!

[rollthedice] 08/5/2017 13:32

3% holdings are reportable for AIM listed shares which is why EDR provide that info on their website.

[exmooroil] 08/5/2017 12:59

I checked with my broker who confirmed with a senior colleague that 5% applies here. Same for all AiM companies presumably. They might be wrong of course.

A trade of 15.4m @ 6.5p went through at 1.51pm (no.65) - presumably Friday. If that related to JPM then could well be below 3%.

[currypasty] 08/5/2017 12:28

thanks paleje

EDR have 259m shares, so JPM's 8.3% is 21m. If they got under the 3% Friday, and decided to dump the rest on the market today, its about 7.7m shares.

I hope the NOMAD is on the case, and finding homes for them.. cant believe jpm didn't ring the company/nomad and get an orderly disposal, this is just barmy!

[paleje] 08/5/2017 11:49

Yes I think 3% too.

At least we know who. Dunno why they're quitting but taking Mark's email as genuine,'no business reason', I've added.

We should get planning officer approval in less than 2 weeks, nothing else has changed as far as we know.

[currypasty] 08/5/2017 11:42

Isnt it 3%?

Resulting situation on date on which threshold was crossed Below minimum treshold

Position of previous notification 8.28%


meaning they probably dumped 5.3%, and rest today ?

[exmooroil] 08/5/2017 11:20

Minimum notifiable threshold is 5%, so still a way to go if exiting the share register completely.

[currypasty] 08/5/2017 10:52

its JP Morgan!

[currypasty] 08/5/2017 09:21

thanks plaeje, as suspected!

they shouldn't just be 'monitoring' the situation, they should be responding to it!

start by a few director buys?

[paleje] 08/5/2017 08:56

Curry, I've no idea if this is true but it was posted on LSE on Friday:-

Fri 13:46 EsoxLucios Share price 7.625 No Opinion
Received from Mark Abbot himself this morning

Dear Sir,

There is no business reason for the recent movement in the share price. There appears to be a seller of more than average volume which has resulted in the fall. We are of course closely monitoring the situation.

Best Regards

Mark

[currypasty] 08/5/2017 08:24

a quarter of the mcap wiped off the company and the nomad does nothing, the company says nothing... come on

[jusmasel99] 05/5/2017 16:27

I can add that last year Europa was hit by exactly the same problem when M&G decided to sell up on the open market. This wasn't down to anything wrong with EOG but rather M&G investors were pulling funds because of Brexit worries and they had to close several positions. EOG were totally unaware that it was M&G at the time until I suggested to them that they should have a look at the unusual trading and call the Nomad. It was very strange that they used the market rather than try and place them privately but there you go. EDR has after all plenty of cash so no placing required (I hope). On the bright side you now know the bottom for this share or in other words the bargain price.

[exmooroil] 05/5/2017 11:01

Egdon's Annual Report shows Heyco Energy with 9.4m shares at the date of the report, which was 31st October 2016. There doesn't appear to be an updated holding, if any, following the placing/open offer.

[fardels bear] 05/5/2017 10:52

Well, we didn't get a "We've no bloody idea why the movement in our share price has occurred." RNS... Which implies they do know why.

[gerhart] 05/5/2017 10:45

Cheeeers Curry. Interesting and could be the answer...

[currypasty] 05/5/2017 10:04

thanks to Jusmasel99 for finding this link..



but he also notes that this is just their AUS subsidiary



PETRICHOR HOLDINGS, (Heyco energy) have (had) 42 mil shares in edr. They bought 22 mil at 13.5p 6 months ago!


It may be them, who knows till the RNS holdings are given. Either way the Nomad should be on this!