DingoBorat
Slim
It's a fair statement, Doz could have made a mistake.Maybe well should ask his optometrist. I think you should retract that statement.
That's why I asked for a digital copy, for all to see.
It's a fair statement, Doz could have made a mistake.Maybe well should ask his optometrist. I think you should retract that statement.
Let's also just overlook the fact that Doz is one account on TSE. Like I said, no disrespect to this account, but jeez... can't be getting all worked up over a single anonymous account on a discussion forum. Either way... im sure all this fuss will unearth the truth.It's a fair statement, Doz could have made a mistake.
That's why I asked for a digital copy, for all to see.
You the Man! (horse? ..)I have just lodged a complaint with Citicorp Ethics breach hotline. I will let everyone know the outcome.
Would be good to know who at Citigroup are encouraging the ongoing purchase of BRN shares. But that is unlikely to be uncovered. If they have takeover intentions they are proceeding in a way that can accomplish it. Acquire more and more shares.
Our company is worth a ridiculous 80 cents (+/-) per share. And, significantly, it has two aging principals who own a ton of shares.
I can see Citigroup continuing to buy shares, lend them out to shorters to drive price down even more, accumulate more shares, wash and repeat.
Next, make a generous tender offer to nervous ma and pa investors (retail) and see what happens, knowing that if you pull this off you are sitting on a technology gold mine that is pre revenue, and as a result has little defense against a further falling stock price. I think this company would be a steal for 5 or 7 billion dollars.
Institutional investors and the big money they court know how to do this stuff. They are ruthless and they are good at it. If something like this is going to happen I don't think there is anything the TSE collective can do about it.
But there is something the takeover target can do. They can show growing revenue from customer engagements and / or make market moving announcement(s) so that the market moves the stock price up. Short of those things happening there may in fact be some blood oozing from a falling stock price and sharks like Citigroup may be gathering.
Regards, dippY
These are my opinions only and no investment advice is intended or given. Always, DYOR.
It won't be just an offer - it will trigger a bidding war.I'm not entirely sure what all the big fuss is about?
Ok Citicorp may have sidestepped something to accumulate more shares. But end of day Brainchip have the goods and we all shareholders. So even if an offer comes say at $5 which is pathetically low, we have a say right as shareholders to either accept or reject?
So having said that Brainchip have so much under there belt that the buckle is bursting, so any offer would be and should be well north of $5. Pretty sure Citicorp is on our bating side
'm most likely wrong, but what worries me here (ie with Citicorp accumilating) is perhaps the possibility of a hostile takeover? If indeed they are involved in/ or manipulating/ holding the SP down and they are then in a position to do a takeover (ie buy up all shares), we may never realise an SP in the multiple dollar amountI'm most likely wrong, but what worries me here (ie with Citicorp accumilating) is perhaps the possibility of a hostile takeover? If indeed they are involved in/ or manipulating/ holding the SP down and they are then in a position to do a takeover (ie buy up all shares), we may never realise an SP in the multiple dollar amount
(Disclaimer - I have no concise knowledge on this topic, but I've been burnt before when lovely Gina Reinhart ended up buying out an Iron Ore stock I once held for a small percentage of its true worth).
Thats why no one should sell any of their shares!
DB it is very serious! And after the AGM issue with PVDM position being voted on , well the dots are joining together. Was that a warning to toe the line?Hey Doz, any chance you can mosey back on in and get a digital copy or something, or do they slug ya?
I'm surprised that the gravity of this, isn't being taken up in earnest..
This is Heavy! (cue Doc Brown jokes)..
But seriously, Citicorp Nominees, has amassed over 100 million shares, in a little over 5 months, to a total of around 173 million shares, with over a 10% holding in BRN and is now the largest shareholder!
Mr Market, knows absolutely nothing about it??
Do people realise the implications to the market, if these facts were known?
Or am I missing something ...
It's part of ASX continuous disclosure rules, but in this case, it's up to the shareholder, to tell the Company and the ASX.
There is no fault here, on BRN's side, as far as I see it, from what I've gleaned in the past hour..
I can't see how BRN, not having it in their Constitution, could affect ASX disclosure rules, on Citycorp.
Remember Citicorp has been caught not doing this before..
Esq 111. good evening to you Sir! I believe you have "hit the nail" on the head exactly correct.Evening DingoBorat,
Another thought and quite likely eventuality...
Owning over 10% of the company I would imagine this would potentialy allow them to insert one of their own onto the BRN board...
Sean Hehir did say thay were looking to expand the board.. hence the expansion of the director renumeration pool.
Esq.
Hey Fullmoonfever, I understand that there is most likely several underlying institutional investors, of the Citicorp Nominees account, but the fact is, that they are umbrellaed under it.I get the feeling there is some misunderstanding with Nominee accounts.
These are definitely something that our IR Mgr will be aware of and would expect undertakes the steps necessary to dig deeper and obtain relevant reporting on who sits behind these accounts.
That is sometimes a box tick it appears for some companies but it is an important undertaking imo as well that the Board should be aware, as best as achievable, where the voting rights sit.
Just because Citi is the nominee holder is not saying Citi are the buyer and have accumulated the 10%+ themselves.
Is unlikely they as a Nominee fall under the sub holder advice rules either as they are not an individual buyer / seller.
Look at a very large number of stocks T20s and you will most likely find Nominee style accounts like Citi BNP HSBC etc.
Suggest a read of a couple of links below and this snip from one of the links gives brief outline of the role of a nominee.
Who’s really on your register? – First Advisers
www.firstadvisers.com.au
How well do you know your shareholders - AICD
Victoria Geddes explains how to find out the identity of investors whose holdings are administered by custodian or nominee companies.www.aicd.com.au
View attachment 11165
There is certainly a regulation according to which it is sufficient, when they are registered under separate accounts at citigroupHey Fullmoonfever, I understand that there is most likely several underlying institutional investors, of the Citicorp Nominees account, but the fact is, that they are umbrellaed under it.
So I can't see why, for ASX continuous disclosure purposes, why they wouldn't need to report a 5% holding and upwards, in 1% increments, as per the rules.
If they wanted to "collectively" remain below these thresholds, then wouldn't the shares be registered under separate accounts?
Isn't that just common sense?
Would be good to know who at Citigroup are encouraging the ongoing purchase of BRN shares. But that is unlikely to be uncovered. If they have takeover intentions they are proceeding in a way that can accomplish it. Acquire more and more shares.
Our company is worth a ridiculous 80 cents (+/-) per share. And, significantly, it has two aging principals who own a ton of shares.
I can see Citigroup continuing to buy shares, lend them out to shorters to drive price down even more, accumulate more shares, wash and repeat.
Next, make a generous tender offer to nervous ma and pa investors (retail) and see what happens, knowing that if you pull this off you are sitting on a technology gold mine that is pre revenue, and as a result has little defense against a further falling stock price. I think this company would be a steal for 5 or 7 billion dollars.
Institutional investors and the big money they court know how to do this stuff. They are ruthless and they are good at it. If something like this is going to happen I don't think there is anything the TSE collective can do about it.
But there is something the takeover target can do. They can show growing revenue from customer engagements and / or make market moving announcement(s) so that the market moves the stock price up. Short of those things happening there may in fact be some blood oozing from a falling stock price and sharks like Citigroup may be gathering.
Regards, dippY
These are my opinions only and no investment advice is intended or given. Always, DYOR.
There is certainly a regulation according to which it is sufficient, when they are registered under separate accounts at citigroup
ASX SHORT info below. Please this is "first hand" info data not third part freebie websites!DB it is very serious! And after the AGM issue with PVDM position being voted on , well the dots are joining together. Was that a warning to toe the line?
IF the Market gets wind of this info it may just fix these shorters and this disgusting SP.
Yak52