Most holders and commentators on this forum are highly convicted and statements are more observational (even humorous) rather than changing their conviction.
SP of 9 cents provides absolutely zero indication that there is a time blow out for FEED, that SMS are telling porkies on timeline or that 2021 won’t deliver on what has been a pretty consistent message for the last 6 or so months.
Since 37m securities were issued on 29 Jan for the shortfall, about 20 million have traded. That doesn’t in any way indicate that Sanlam have inside information and as a result are dumping their stock due to hypothetical statements prior (that would be highly illegal
@ando1) but simply that they were running the shortfall book for the 5% fee only, not placing long term and sticky money in TNG.
As a statement of my position, I do not rate Sanlam or the bloke that ran the book.
As an observation, the SP action feels a bit contrived given:
- TNG waited the full 3 months post entitlement close to place the shares into what they likely knew as ‘shifty’ hands; and
- That Sanlam clients would now be selling at a loss on heads.
I guess there are logical answers to both those points. Ie) tax purposes for the selling at a loss.
Rounding out Ando - I'd suggest your remarks about the integrity Herbert Weissenbaeck, a key representative for the group that is a fellow shareholder, independent consultant to TNG and soon to be EPC contractor, are well out of line. Grow up and show some tact.
