Manolete Partners Share Discussion Threads

[molatovkid] 10/2/2021 08:07

I've sold out...got to read between the lines here. Institutions dumping, CEO dumping.

[schroedar] 10/2/2021 07:45

I have never seen a director sale announced in 2 tranches. Furthermore if the order was a 1 m sell there shouldn’t have been an announcement until the order had been fully worked. This means that cooklin placed 2 separate orders.

This is a really bad sign for his belief in the company.

Still trading at 2x a non conservative book with pipeline dried up. Can’t see any reason to invest at these prices, albeit with Mithaq there, they are ripe to be taken over

[alanpro1] 10/2/2021 07:40

The fact the price actually rose quite strongly with no suppression of large orders from market makers, could not buy more than £10k worth shows to me it was a prearranged price at 180p. Market was clearly managed down to the agreed price. Fantastic entry for a long term investment imo. Could indeed be selling due to the upcomi g capital gains changes which could come into affect quicker than many thought.

[kaos3] 10/2/2021 07:33

I think so - yes. Probably others stopped him in dumping it . meaning internal disagreements probably.

strange that it is not arranged sale and that it goes over the market. a weakness.

[muzmanoz] 10/2/2021 07:23

What does the rns mean when it says that he won't sell more for 3 months but intends to follow an orderly marketing process for a further 3 months?Is he selling more in 3 months time?

[kaos3] 10/2/2021 07:17

I almost bought (since bellow 300p)..... feeling lucky

whole sector is VERY interesting but is in limbo atm imho and it is worth waiting for the bottom fishing

[jonwig] 10/2/2021 07:17

That means my musings in #775 were off the mark.

[jimtech] 10/2/2021 07:10

He sold more yesterday:

Manolete (AIM:MANO), the leading listed insolvency litigation financing firm in the UK, announces that Steven Cooklin, Chief Executive Officer, has sold a further 250,000 ordinary shares of 0.4p each in the Company ("Ordinary shares") on 9 February 2021. This transaction completes Mr Cooklin's sell order of 1,000,000 Ordinary shares.

Mr Cooklin continues to hold approximately 15.7% of the Company's issued share capital as set out below:

[jonwig] 10/2/2021 06:47

leadixon - you mention TAX. I wondered whether it might be a simple B&B transaction with a view to repurchase after at least 30 days.
A fall to sub-200p would be a real opportunity for him to pay less CGT this year, and get the whole process through before the expected reform next financial year.

When directors buy in quantity, there is just one motivation. When they sell there can be lots of reasons. (Divorce is quite common, though maybe not here.)

[leadixon] 10/2/2021 00:01

Well that has totally took me by surprise, it now worries me that he doesn’t have the level of awareness to understand what selling now means to the market.

I’ll bet he gives the same response as the others recently, in that his accountant has told him to sell given the potential change in Tax means this will offset his potential future liability.

I now have no plan to double down on my investment any time soon

[dudishes] 09/2/2021 16:43

Closed short @ 188 (opened 512 post 403 refers). Probably further to go?

[scubadiverr] 09/2/2021 09:43

I couldn't sell on the bell as was going to be a negotiated trade and not willing to sell at any price. I thought this would have dropped much more but maybe good reason for Cooklin's sell and something going on in the background. I can only hope.

[tradertrev] 09/2/2021 09:38

Surprised these aren't weaker - no-one has been more bullish than the CEO.

[williamcooper104] 09/2/2021 07:42

At least Bur management sold and raised equity at the top

[74tom] 09/2/2021 07:14

Yes that is a real shock, whatever the reasoning that is rotten timing...

[gaiusgracchus] 09/2/2021 07:12

CEO sells 10% of his position. Hmmmm.

[jonwig] 09/2/2021 06:48

sallad (#760) - sorry, I'm not familiar with that one.

[williamcooper104] 09/2/2021 04:30

Yep - the floor in Bur was a discount to book or rather book less Peterson Fair Value Funding concerns don't help; management needs to either spell out very clearly why that isn't a problem or else raise equity/liquidity (Bur where able to show that funding really wasn't a problem which stabilised their share price crash) Luckily I sold out when the PE looked too rich - tempting to start rebuilding a positionNot only do we have corona but also a rock hard brexit - against that though the Treasury is going to do all can to keep as many zombies companies alive

[riverman77] 08/2/2021 23:13

Still on a decent premium to book value so could see it falling below book at some point (that would take it below 100p).

[its the oxman] 08/2/2021 23:07

Looks like selling is going to continue here for a while yet. Who knows where the floor is.

[74tom] 08/2/2021 18:38

At some point this will present an excellent buying opportunity, however I think that is a long way off at present. Where is the bottom? All depends on how long Covid support lasts, wouldn’t rule out £1 being threatened though, given the huge uncertainty & lack of capital. They would probably be best off getting a fundraise out of the way as that would put a floor under the price. Interesting to see how it unfolds.

[sallad3] 08/2/2021 17:55

jonwig

I wonder if part of the problem is the Truck Cartel cases following the pre-christmas Spanish decision which follows the German court ruling that basically rejects the list price argument, and whilst damage is presumed it has to be related to actual facts related to each punter's negotiating skills at the time (I paraphrase)? That might be encouraging a much lower overall pre-trial settlement figure.

There is also the Directors Liability white paper due this week.

[riverman77] 08/2/2021 17:27

Also shows the danger of being completely reliant on one source of business if this dries up. Something like RBGP offers better diversification with a couple of different businesses, alongside its litigation finance division.