provided sgx is up tomorrow.. else... +1 +1 +1,
Chairman bought 98 millions NP rights today after few days of aggressive selling by himself .
It is a surprise, to see Mr. Elman acquired, instead of disposed his remaining rights. He acquired with higher price, than his previous disposed prices? Last minute life-line on funding? Let's see what next...
Looked rather manuplative , he sold few hundred millions at 0.07 but bought back 98m at 0.52 at last trading day of the np right when he was expected to sell some of his remainings . Very unusual for a major SH and chairman to do that .
(16-07-2016, 08:01 AM)cfa Wrote: [ -> ]Looked rather manuplative , he sold few hundred millions at 0.07 but bought back 98m at 0.52 at last trading day of the np right when he was expected to sell some of his remainings . Very unusual for a major SH and chairman to do that .
Very unusual, indeed, but should not be manipulative.
There were two (2) more disposals, after the the few hundreds million one, which were about 90 million rights each, with lower price than the 0.52 cents per right.
(16-07-2016, 08:36 PM)CityFarmer Wrote: [ -> ] (16-07-2016, 08:01 AM)cfa Wrote: [ -> ]Looked rather manuplative , he sold few hundred millions at 0.07 but bought back 98m at 0.52 at last trading day of the np right when he was expected to sell some of his remainings . Very unusual for a major SH and chairman to do that .
Very unusual, indeed, but should not be manipulative.
There were two (2) more disposals, after the the few hundreds million one, which were about 90 million rights each, with lower price than the 0.52 cents per right.
He has sold more than 300 over million shares at 0.07 , so his average selling price was still higher than what he bought back . As Chairman and insider of Nobel , it doesnt reflect well on him and company that he was trading the NP rights during this periods of time, especially when he was supposed to sell to reduce his right entitlement as declared by himself.
Who knows he could be selling and buying back on the same days to square off his positions , he does not require to declare his trades if such actions did happen .
Noble latest news, from the grapevine, and not officially announced via SGX, or not yet...
Noble said to wind down European power, gas on liquidity crunch
LONDON (July 20): Noble Group Ltd. plans to quit power and natural gas trading in Europe by the end of the year as the embattled commodities firm cuts capital-intensive businesses, according to three people familiar with the matter.
The Hong Kong-based company is winding down its books in European power and natural gas, with traders and support staff leaving the company, said the people, who asked not to be identified because Noble hasn’t made a public announcement. Noble employs between 10 and 20 people in London trading natural gas and power, including support staff.
...
http://www.theedgemarkets.com.sg/sg/arti...ity-crunch
A total of 283 mil rights were voided, which means more than $14 mil (taking 5 cents per right) was voided by those "bo-chap" shareholders.
Noble says rights issue 173.7% subscribed
SINGAPORE (July 25): Noble Group says valid acceptances for 6.3 billion shares and excess applications for 5.1 billion shares representing 95.7% and 78% of the total rights shares available for application were received at the close of the rights issue on July 21.
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http://www.theedgemarkets.com.sg/sg/arti...subscribed
Big sell off in the afternoon, bad news again ?