Trackwise Designs Share Discussion Threads

[bigtune888] 20/12/2022 16:22

Is that when it spiked from 1p to 3p? 28 Jan 2021 on restoration.

[32campomar] 20/12/2022 16:19

The same happened with RDG. It was suspended for more than a couple of days.

[bigtune888] 20/12/2022 16:18

I think the latter. By the looks of it, LSE was monitoring, and they suspended it and now doing the audits. That's what it is about.

When it comes back, you will be able to buy only 1000-2000 shares now. It will be interesting to know if the FCA is involved; a bit of publicity for them, getting a few brokers fined for selling shares they can't settle.


what is the minimum market size here? 500 or 1000 shares

[cliffpeat] 20/12/2022 16:14

3 questions

What's happening to the Sell price in the last 20 minutes? - according to my HL account it has wobbled between £1:20 and 80p.

Does that represent "enticement" and "threat" by the short of stock brokers?

And do we hang on hoping the enticement moves upwards?

[wh1spa] 20/12/2022 16:09

Hard to believe that FCAP had a target of over £3 for TWD only six months ago. (Do they just pluck figures from thin air?) Sorry to all those that have been put in a difficult situation here.

[kim jong un] 20/12/2022 16:06

Massive rocket on restoration in two days; naked shorters will be in front of my firing squad. How do they settle 30m-40m they forward sell in the last 3-4 days?





Yours,

HRH Prof, Ph.D, MBA,MPhil, MSc.,MSci, MA, BA Hons, BSc (Hons), BEng (Hons), BASc, LLB, 18 A Levels,29 O-Level, 57 GCE.

[1speedster] 20/12/2022 15:42

This is what the LSE has informed the market makers in the rns.


Take note agreed settlement date.



2. Rule 5000 (Obligation to settle) and its associated guidance places an obligation on member
firms to ensure that every on Exchange trade is duly settled on the agreed settlement date.
This obligation remains even if the reason for non-settlement is a customer or counterparty
having failed to settle other transactions in the same security

[1speedster] 20/12/2022 15:42

Exactly, the point of the suspension settlement must continue while it is suspended.

Again how forward sellers will settle shares, they will receive after 5 Jan 2023.


It bears reading each of your contracts for buys or sells; it's it takes two days to settle, that's the agreed settlement date.

If LSE monitors the settlement, CREST/Euroclear will provide the imbalance.

Forward sellers can't settle, as they are less share in the issue than they sold. !!!

[tomboyb] 20/12/2022 15:37

I refer back to this -

Settlement of outstanding transactions can continue whilst the security is
suspended.

[1speedster] 20/12/2022 15:35

Indeed difference, I have correct to forward sellers.

That's naked shorts; they have a settlement date. All buys and sells have settlement dates.

Your speculation turned out to be true. Where do forward sellers get the shares now to settle? As LSE says, all trades have been settled, and settlement is T+2.

Shares do not come to the market after EGM, three weeks times.


Buyers must have their shares, and the forward sellers must provide them now. How do forward sellers provide 30m shares or more they forward sold?

[pwhite73] 20/12/2022 15:30

My comments were just speculation based on the morning's trades. Short selling is not the same as forward selling. Short sellers borrow stock they do not own and pay a fee. Forward sellers do not borrow any shares they sell in anticipation of receiving stock at a later date.

Kimchi1 - There is no question of this failing to receive the required votes as the company would have consulted all the major shareholders first who including the directors hold about 60% of the stock.

[kimchi1] 20/12/2022 15:26

Interesting situation here and incredible shareholder value destruction with mega placing at 1p.
I can understand people calling to vote against the fundraising, but what would then be the end result, a temporary spike followed by insolvency ?

"Shareholders should be aware that if the Resolutions are not approved at the General Meeting, the Fundraising will not occur and the net proceeds will not be received by the Company. If this were to happen, to continue to trade, the Group would have to find urgent alternative funding and the Board do not believe that sufficient funding would be available in time to avoid an insolvency event."

[zen12] 20/12/2022 15:19

Trackwise Designs (AIM: TWD) notes the London Stock Exchange's Market Notice N25/22 (the "Notice") released following the suspension today in trading of the Company's ordinary shares. The Notice includes the following information: "London Stock Exchange ("the Exchange") has been monitoring the settlement situation in Trackwise Designs plc (ISIN: GB00BFYT9999) following the Company's recent notifications in relation to the issue of new shares which are conditional on shareholder consent. As a result of the deterioration in settlement performance, the trading of Trackwise Designs plc shares has been temporarily suspended under Rule 1510 of the Rules of the London Stock Exchange. Settlement of outstanding transactions can continue whilst the security is suspended. The Exchange will continue to monitor the settlement situation and when trading is to be restored, the market will be notified by Stock Exchange Notice." "Rule 5000 (Obligation to settle) and its associated guidance places an obligation on member firms to ensure that every on Exchange trade is duly settled on the agreed settlement date. This obligation remains even if the reason for non-settlement is a customer or counterparty having failed to settle other transactions in the same security." The Notice can be viewed at: https://docs.londonstockexchange.com/sites/default/files/documents/n2522.pdf The timing of restoration of trading in the Company's ordinary shares will be determined by the Exchange.

[1speedster] 20/12/2022 14:45

Investors must be receiving their shares in a timely manner as per T+2



Naked short selling by the looks of it.


iii EBG's naked short selling of the equivalent of 252% of the issued share capital of Room
Service.


Section 118(2)(c) of the Act concerns behaviour which would, or would be likely to, distort
the market in the investment in question. The Code explains this in the following terms:
7
"A person may not engage in behaviour that interferes with the proper operation of
market forces and so with the interplay of proper supply and demand and so has a
distorting effect. Distortion undermines confidence in the prescribed markets and
damages efficiency to the detriment of market users, including investors" (MAR 1.6.3).


the need for market users to conduct their affairs in a manner that does not compromise
the fair and efficient operation of the market as a whole or unfairly damage the interests
of investors".

[pwhite73] 20/12/2022 14:36

jonny_wright - Leaving aside today's shenanigans at 1p I think the stock is an excellent buy but I doubt you will get that price for it.

[tomboyb] 20/12/2022 14:34

Room Service was like at 0.1p -

I think MMs forward sold over 100-200% of the available equity -

Long time ago but I can't remember the exact figures -

That is a dis-orderly market!!

[jonny_wright] 20/12/2022 14:32

Is it worth bothering at 1p?

[tomboyb] 20/12/2022 14:26

Suggests to me that this is resolvable -

However, lets see what transpires from here -

[tomboyb] 20/12/2022 14:24

Settlement of outstanding transactions can continue whilst the security is
suspended.

hmm..

[1speedster] 20/12/2022 14:22

The settlement date is T2, and it's an obligation. Wow. It's an obligation.

How do they settle for the share purchased for the last four days now?

Everyone who bought has a contract note saying the settlement is T+2, and potentially 30m shares have been purchased no one is selling.




Rule 5000 (Obligation to settle) and its associated guidance places an obligation on member
firms to ensure that every on Exchange trade is duly settled on the agreed settlement date.
This obligation remains even if the reason for non-settlement is a customer or counterparty
having failed to settle other transactions in the same security