Iofina Share Discussion Threads

[zendo102] 09/7/2024 21:07

Sorry naphar. I probably came across as rude in my last post.

To explain, there is an old rule of thumb in value circles that there is an inverse relationship between the number of posts on a bulletin board and the share price - the fewer posts, the better value a share is. The more posts, the more froth.

If I’d listened to this advice for this board, I could have avoided losses. It’s something I pay attention to now, thus my post.

[naphar] 09/7/2024 20:17

Well if you don’t wanna read posts don’t check in to read them!

[zendo102] 09/7/2024 18:58

10 days without a post and naphar has to go and ruin it!

[naphar] 09/7/2024 16:29

Surprising end to the day….. leaky bucket? IO11 news incoming, or just a bit of buying pressure with a cleared overhang?

[mrgorillaz] 04/7/2024 14:23

they would not be able to finance more plants anyway, it's a small company

[qsmeily456] 01/7/2024 09:40

Exactly

beeezzz

24 Jun '24 - 17:37 - 9010 of 9028
0 6 0
The time it takes to negotiate new sites is a reflection on the management not having the skills to fit the job...too many PhD's and not enough gumption..

[naphar] 28/6/2024 12:08

Maybe but I didn’t think that is his modus operandi, he could surely have asked for a seat on the board already and hasn’t.

[beercapafn] 28/6/2024 09:18

He might just be planning to change that. Just saying.

[beeezzz] 28/6/2024 08:28

He probably feels with a Mcap of just over £36m they are undervalued, he may have faith. However, the rest of the market has little faith in this management....

[naphar] 27/6/2024 22:03

Shows a lot of faith that RS has taken more… clearly he sees value and presumably isn’t worried about the dip from last years heights. Safe to assume he knows more than we do.

[rambo1122] 27/6/2024 10:35

R sneller taken some more

[naphar] 26/6/2024 08:55

Chill, what do you mean by a “technical situation”? The Diverse Income Trust situation?

[chillpill] 26/6/2024 06:33

So I think from all the information we have Diverse Income Trust had to liquidate around 26% of all their holding to fund the redemptions. This equated to around 1.6m IOF shares- this process has been going on a few weeks.

Hopefully yesterday proved to be the point the overhang got cleared with house broker trading around 1.75m shares (probably double counting in that figure).

Time will tell but I think the weakness has generally been because of a technical situation.

As I said the other day iodine prices are firming.

[trickydicky1] 25/6/2024 12:00

DIVERSE INCOME TRUST PLC (the "Company")
 
Redemption of Ordinary Shares and Total Voting Rights
 
The Company has a redemption facility through which shareholders are entitled to request the redemption of all or part of their holding of ordinary shares of 0.1 pence each ("Ordinary Shares") on an annual basis (the "Redemption Facility"). The operation of the Redemption Facility is entirely at the discretion of the board of directors of the Company (the "Board"). The deadline for the 31 May 2024 Redemption Point was 1 May 2024.
 
As announced on 3 May 2024, the total number of Ordinary Shares in respect of which valid redemption requests were received for the 31 May 2024 Redemption Point was 82,147,477 Ordinary Shares (representing 25.788% of the issued share capital) (the "Redemption").
 
The Board has resolved to effect the Redemption using the redemption pool method set out in the Company's articles of association (the "Articles").
 
The Company has divided its assets and liabilities into two pools:
 
(i)   ;          ;    the redemption pool, which will consist of cash, assets and liabilities attributable to the 82,147,477 Ordinary Shares over which valid redemption requests were made ("Redemption Pool" and "Redemption Shares"); and
 
(ii)               all the other cash, assets and liabilities will be attributable to the remaining shareholders and will continue to be managed in accordance with the current investment policy.
 
Following this division, the Redemption Shares were redeemed on 31 May 2024 and upon such redemption are treated as cancelled; former holders of the Redemption Shares are now creditors of the Company.
 
The assets of the Redemption Pool will be liquidated and the Redemption Price per Ordinary Share will equal the aggregate cash received by the Company upon the realisation of the Redemption Pool, after deducting the costs of the redemption, which will be borne by the pool, an adjustment for any attributable unsettled liabilities and a pro-rata share of the costs and expenses of the Company not attributable to a particular pool, divided by the number of Redemption Shares, as set out in the Articles.
 
It should be noted that the liquidation of the Redemption Pool is expected to take some weeks or months, and the final capital sum may differ from the Company's net asset value per Ordinary Share at the Redemption Point depending on market conditions.
 

[beeezzz] 25/6/2024 09:14

Not exactly a vote of confidence in the management, maybe this may get through to them investors are not happy with companies performance, or return.

[activmojo] 25/6/2024 08:07

Not enough information to draw a firm conclusion. We do know they don't have to issue any other notes on sales. That could be they will sell into a rise as well as a drop in share price without advertising the fact. Timing could be factored in to your assumptions, being so soon after the AGM. I'm favouring a sell into a rise. 🤞

[chillpill] 25/6/2024 07:50

Who knows exactly what they are doing. They could have switched them internally between funds.

[naphar] 25/6/2024 07:25

It was a bit of a surprise to see a sales rns from a holder whose name I didn’t recognise from prior RNS so thanks for that Chill.

My thought prior to now knowing it’s part of Premier Milton, was maybe it’s exactly their sign to IOF that they are in the market to sell a block…

[chillpill] 25/6/2024 07:15

Premier Milton (of which this is part) had around 6% they have bought in the last 12 months or so. Would be a fairly big surprise if they were about to sell the whole lot after such a short holding period.

[naphar] 25/6/2024 07:04

Indeed fft and this is a block I hope IOF would consider buying back… if they can agree an acceptable deal for both sides of course

[fft] 25/6/2024 06:17

That RNS isnt great. They have sold a few thousand to get them below 3%. They can now, if they want, sell the rest, in dribs and drabs, and never have to tell anyone. In effect, it is an overhang as why else would they sell a few thouand like that ?

[naphar] 24/6/2024 16:46

Beeezzz to some extent I could agree, but I can also understand it’s not in the oil co’s priority list, especially when oil price is high… they have more profitable things for them to focus on.

It’s why I think it should get easier over time with oil co’s where we already have the relationship and have proven we don’t impact their business model too much…