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REDD Redde Northgate Plc

429.50
0.00 (0.00%)
Last Updated: 01:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Redde Northgate Plc LSE:REDD London Ordinary Share GB00B41H7391 ORD 50P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 429.50 429.00 430.00 - 0.00 01:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Passenger Car Rental 1.83B 125.02M 0.5514 778.93 973.85M

Redde Northgate Share Discussion Threads

Showing 4051 to 4069 of 4900 messages
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DateSubjectAuthorDiscuss
17/10/2019
22:37
any reason that this can't claw its way back to 180p in the medium term?
rogthepodge
17/10/2019
18:29
Wow up over 12% taking the mid price a long time since I have seen that here and the divi is in the bank payable on the 7th of November GLA holders
bc4
17/10/2019
17:13
what is Link Fund Solutions?
rogthepodge
17/10/2019
14:25
alamaison5 - You sold already?
tarny
17/10/2019
14:12
Search Twitter for #woodford you will understand who itcm is.
sbb1x
17/10/2019
10:03
That Ltcm guy has been on every Woodford owned share with the same spiel and scaremongering he is truly a horrible person with no scruples a very sad person who knows nothing at all about REDDE
bc4
17/10/2019
09:47
Look this company is REDDE not Woodford paying 10% plus divi, record profits just announced winning new contracts at these levels if anybody wants to sell there will be plenty of buyers especially for income seekers
bc4
17/10/2019
09:26
The notification does not say that Woodford had 19.86% before the transfer. It says he had 19.86% at the time of the "previous notification".

Most likely his position was somewhere in-between 19.86% and 5%.

cariley
16/10/2019
13:25
Thanks, I missed that, carelessly.

As far as I can tell the Woodford Income Focus Fund is still active and under Woodford Investment Mgmt control, though Woodford himself has resigned. It's only publishing its top ten holdings atm so I don't know if it holds any REDD, but among the top ten (at 31 August) is PAY which also had a "down to below 5%" RNS yesterday.

zangdook
16/10/2019
10:57
A little bit further up from where the thresholds are shown, there is a cross next to the following:

"Other (please specify)iii:
No trading in the stock - voting control interest over stock transferred to new
manager"

So the threshold says Woodford is less than 5%, but in light of the recent news, that just says Woodford has zero (regardless of the reporting threshold requirements) because the overall position of 19.86% has been transferred to the new manager.

The last time Woodford disclosed via RNS was on the 13/06/19, when his position went from 28% to 19.86%, which ties in with the current position. However, there was a monster exchange of volume in early September exceeding 50 million (highly irregular and anomalous volume for Redde), which IMO hasn't been explained by the holding statements.

Perhaps some further stock has been sold and there is a delay in getting the up to date picture, which would suggest further RNS to follow. We have seen funds taking months to report the changes in their holdings, ignoring the rules in having to disclose as they cross each one percent threshold. This can all be somewhat murky at times, but taking this at face value (at the present moment in time), there appears to be a sizeable position to sell and we now await any further information.

sphere25
16/10/2019
10:25
Presumably if he's transferred a disclosable amount to the new manager, another RNS will be along shortly.
zangdook
16/10/2019
10:20
Sphere
Are you sure? There's no mention of the new manager, it just says Woodford has gone from 19.86% to under 5%. Even if part of that reduction is the transfer, might he not have sold some since his last notification and not disclosed it yet as he was still selling?

Unless I've misunderstood the rules, the main market requires notification every % from 3% for UK issuing companies, and every 5% from 5% for non-UK issuing companies. AIM requires it every % from 3% for every company. So if Woodford is "under 5%" that means he's over 4%. However the fact that every single notification yesterday said "under 5%" leads me to wonder if they've got it right.

zangdook
16/10/2019
10:06
bc4 Woodford may be out of Redde but the shares have not been sold, just transferred to the new managers of Weif.

So expect an avalanche of selling in the coming months.

ltcm1
16/10/2019
09:49
Read the holding statement wrong. I went straight down to the thresholds and it looked like the Woodford holding had moved from 19.86% to less than 5%. Normally, the bulk of these holding statements do show a movement (due to buying or selling) in the position of the holder of the stock so clearly too accustomed to that.

In this instance though, it's actually a transfer of the stock from Woodford to the new manager, so the Woodford position has gone under 5% (can't fully recall the 5% vs 3% disclosure requirements - might be where the reporting fund is based), but the overall stock position to be settled still stands at 19.86%.

Overall, at least there is clarity now. The market knows the stock is being held back by this overhang and will re-rate once the stock has been settled. The previous large exchange saw buyers in size at the 107 mark so I'd be surprised (in light of the current rating and how far the stock has already fallen) if it doesn't get settled around similar levels.

sphere25
15/10/2019
23:18
Are you sure he hasn't got a WTF fund ?
As in WTF a blind monkey with a copy of the FT and a pin could have outperformed you !

fenners66
15/10/2019
18:46
Presumably these Woodford notifications (there are others for ALM, ARIX, BRW, CRST, CSP, DDDD, ESL, INHC, MTPH, PAY, PURP, SENS and TRX, and maybe more?) are coming out today because he's been given the boot and his fund taken away from his control, so the selling may not have finished (and presumably hasn't, unless by coincidence he finished the same day he got the shove).

I'm puzzled the notification says "under 5%" when the Rule 26 requirement is for any holding over 3% to be declared. If he's between 4 and 5% they ought to say how much exactly. Today's Woodford notifications are all quoted as reducing to <5%, so maybe whoever prepared them ignored the difference in reporting requirements between AIM and the main market?

Another complication is that this is not his only fund, he still has the Income Focus fund IIRC, and if he has some REDD in that then he may not be selling it all, but it will still count for the RNS. I don't know if residual holdings in the WEIF still count as Woodford now it's no longer the *W*EIF? Or does the "under 5%" refer only to the WIFF?

zangdook
15/10/2019
16:53
Roughly 46 million shares left Woodford; clearly expect an RNS on new owners
donemyhomework2
15/10/2019
16:52
Post edited

On initial read of the holding statement it looked like the new Woodford position had fallen to less than 5%, but it’s just a transfer of the holding. Holding statements need to be clearer.

The 50+ million volume in early Sep also still goes unexplained by the holding statements.

sphere25
15/10/2019
16:40
lets see who bought woodford stock

WJ.

w1ndjammer
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