Guys, I don't think this has anything to do with Titomic. If you have a closer look at the announcement, the agreement is between CS and CGS-CIMBS (a Singapore investing company).
If you look at the contract, and its conditions, both the borrower AND the lender have the right to return/recall the borrowed/leased stocks early. The fact that CGS-CIMBS can recall the shares at any time with 4 business day prior notice is GREAT, this would make it more difficult for CS to manipulate the share price. I believe the slide in SP is currently not due to manipulation.
CGS-CIMBS bought TTT shares since Sept last year and has accumulated 12,681,517 shares (8.35% at that time) as of disclosure on 2nd March 2020. Everyone is required to disclose when they become a majority holder of an ASX-listed stock at more than 5% holding, and subsequent every 1% increased in holding (see https://www.clearstream.com/clearstream-en/products-and-services/market-coverage/asia-pacific/australia/disclosure-requirements-australia-1281512)
Previously, CS holds 8.33% and today 9.81% (more than 1% increase, hence the disclosure).
Since CS only borrow TTT stocks from CGS-CIMBS, this means that CGS-CIMBS has purchased an extra 2,355,483 (15,037,000 - 12,681,517) shares after their initial disclosure after becoming a major substantial holder in March 2020. Note that the current purchase of 2+ million shares by CIMBS is below the 5% threshold and thus NO disclosure to ASX is required.
In conclusion, CIMBS continues to buy shares of TTT to lend to CS. I don't think Titomic will know what CIMBS and CS are up to with their holding. Perhaps someone with better knowledge can educate us.
- Forums
- ASX - By Stock
- TTT
- Ann: Change in substantial holding
Ann: Change in substantial holding, page-8
-
- There are more pages in this discussion • 22 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add TTT (ASX) to my watchlist
(20min delay)
|
|||||
Last
9.2¢ |
Change
0.001(1.10%) |
Mkt cap ! $92.97M |
Open | High | Low | Value | Volume |
9.1¢ | 9.3¢ | 8.7¢ | $261.6K | 2.910M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 11173 | 9.1¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
9.2¢ | 190493 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 11173 | 0.091 |
2 | 108888 | 0.090 |
2 | 112537 | 0.088 |
1 | 100000 | 0.086 |
1 | 8988 | 0.085 |
Price($) | Vol. | No. |
---|---|---|
0.092 | 190493 | 1 |
0.093 | 100000 | 1 |
0.095 | 72596 | 2 |
0.096 | 50000 | 1 |
0.097 | 22846 | 1 |
Last trade - 16.10pm 24/05/2024 (20 minute delay) ? |
|
|||||
Last
9.2¢ |
  |
Change
0.001 ( 3.37 %) |
|||
Open | High | Low | Volume | ||
9.1¢ | 9.2¢ | 8.7¢ | 979821 | ||
Last updated 15.59pm 24/05/2024 ? |
Featured News
TTT (ASX) Chart |