By Tom Winnifrith | Friday 8 July 2016
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
If one takes a disclosable stake in a listed company you must notify the company within five working days and it must by the close of the next working day, notify the market. So we should be seeing a TR1 from Highlands Natural Resources (HNR) today then. If we do not then investors have been spoofed.
We were told that a "financial institution" had exercised 5 million warrants and shares had been issued to it at 7 AM on 1st July. So that must have happened the day before so our six working days deadline is 4.30 PM today. For 5 million shares is c12% of Highlands share capital which sure is notifiable.
This sordid deal will net Highlands £1.25 million which it needs urgently, DT Ultravert £100,000 which I'm sure it needs too. The only question is why would anyone be mad enough to want a 12% stake in Highlands? If the institution is s solid investor as Highlands implied we will get a TR1 today.
If there is no TR1 then the bulletin board morons have been spoofed. Thinking there was a blue chip backer of this POS, they bought shares in the millions after this covert placing was first announced on 15 June. I put it to you that if there is no TR1 then the seller of those shares was the "institution" happy to make a turn on every share it could flog at 26p or more. If there is no TR1 the institution was in fact just a spiv, a chancer and the BBMs have been mightily spoofed as they bought its shares.
Hell hath no fury like a Bulletin Board Moron spoofed. No wonder the shares are off today at 21.5p. Where or where is the TR1?
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