DingoBorat
Slim
You never want ambiguity, in rules or Law..
BRN Discussion Ongoing
- Thread starter TechGirl
- Start date
Shadow59
Regular
One certainly has to wonder about the timing!?
Could Citicorp be taking this substantial stake in BRN just because we are now offically in the ASX 200 ??Thank you Shadow.
So it seems we have two opposing theories.
1. Citicorp is taking a substantial stake, perhaps as a cornerstone investor, which is good news for us retail, as it shows confidence and should lead to an increasing share price.
or
2. Citicorp is quietly building a large stake, perhaps in cahoots with other as yet unknown players, in a bid to mount a possibly hostile takeover, which may lead to a bidding war, potentially pushing up our share price in the short term, but perhaps denying us of the opportunity to be long term holders going forward.
Either way, it appears Citicorp is possibly in contravention of corporation law and ASX listing rules because it has not notified the ASX of its increased holding status.
Would not this fact be prejudicial against Citicorp in any potential litigation going forward?
F
Filobeddo
Guest
Now there’s a point, I wonder what Jerome the new CMO would think about a new run of Robot Ken t shirts
Yes, but it’s not Citicorp- it’s their nominees. Citi is providing custodial and settlement services on behalf of (likely many) others
“Industry’s largest proprietary network spanning 95 markets and $14trilion assets under custody, global leader in securities services. For worlds top issuers, intermediaries and investors”
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HopalongPetrovski
I'm Spartacus!
Perhaps, but if so, I hope the rest of us will soon start to see some benefit from their confidence and addition to our register, because so far, "someone" has not been doing any of us any favours by pushing down our price, just so they can get in cheap after being late to the party.
Bravo
If ARM was an arm, BRN would be its biceps💪!
Just noticed that Audi's Q6 e-tron 2023 Sportback model has been spied. Article says it will use an electric platform jointly developed with Porche. Am trying to find out more about the "Hey, Audi" diologue system in the Q6 to see whether it is the same as the Audi Q4 e-tron in which they teamed up with Cerence.
See below the Audi Q4 e-tron has "A hybrid system with both cloud-based and integrated elements means drivers are never left without key capabilities, even in areas of low or no connectivity." I feel like the "integrated elements" referred to could include Akida.
In which case, you would think the system used in the Q4 would likely be used in the Q6...
Typing time: half an hour
www.autodaily.com.au
See below the Audi Q4 e-tron has "A hybrid system with both cloud-based and integrated elements means drivers are never left without key capabilities, even in areas of low or no connectivity." I feel like the "integrated elements" referred to could include Akida.
In which case, you would think the system used in the Q4 would likely be used in the Q6...
Typing time: half an hour
2023 Audi Q6 e-tron Sportback spied - Automotive Daily
The new Audi Q6 e-tron will join the brand's all-electric line-up this year as a rival for both the Tesla Model Y and the larger Tesla Model X. Our spies have
www.autodaily.com.au
Reuben
Founding Member
The more conected the future cars are. More money to be made.
Bear in mind.. there is a monthly subscription for your car seats to be warm. Imagine forgetting to pay the monthly subscription on a cold winter day and your seat is dead cold....
www.businessinsider.com
Bear in mind.. there is a monthly subscription for your car seats to be warm. Imagine forgetting to pay the monthly subscription on a cold winter day and your seat is dead cold....
BMW is now charging $18 per month for heated seats in some countries
BMW launched a monthly subscription for heated seats and a heated steering wheel in several countries.
HopalongPetrovski
I'm Spartacus!
So, this is a way of concealing the owners and their associated voting rights. This could be anything from 175 million individual holders or 10 holders of 17.5 million? Or potentially multiple holdings each of which falls under the reporting threshold?Yes, but it’s not Citicorp- it’s their nominees. Citi is providing custodial and settlement services on behalf of (likely many) others
“Industry’s largest proprietary network spanning 95 markets and $14trilion assets under custody, global leader in securities services. For worlds top issuers, intermediaries and investors”
Damn, this is ringing memory bells about FF talking about this very subject and I'm pretty sure I just skimmed it at the time as it seemed a bit esoteric and dry and I figured FF would always be around if it ever became relevant.
BaconLover
Founding Member
Plot twist: Daimler is behind Citicorp.
No, hiding is not the purpose- it’s because it’s expensive to provide funds administration, securities services- so there are only a few players… these services are provided to brokers and superfunds etcSo, this is a way of concealing the owners and their associated voting rights. This could be anything from 175 million individual holders or 10 holders of 17.5 million? Or potentially multiple holdings each of which falls under the reporting threshold?
Damn, this is ringing memory bells about FF talking about this very subject and I'm pretty sure I just skimmed it at the time as it seemed a bit esoteric and dry and I figured FF would always be around if it ever became relevant.
Example, from AustralianSuper t&cs
All investments in the AustralianSuper Member Direct investment option, including listed securities, term deposit/s and cash will be registered in the name of JP Morgan Nominees Australia Limited, as custodian, for AustralianSuper Pty Ltd as trustee of AustralianSuper.
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I've sent an online enquiry to the asx questioning Citicorps failure to disclose their accumulation to the market. If I don't get a reply I will email again and I will notify a media outlet to see if I can garner some attention to these hacks.
They can't just accumulate such a large holding without notifying the market.
F*** them
Choosing violence with a multinational investment fund today
Well, you've got to hand it to Australia's free market fundamentalist economist boffins - over the last 45 years they've succeeded in ridding the country of all those legacy manufacturing industries, even if the bathwater had some baby-shaped lumps in it - now for part 2 - the establishment of leading edge manufacturing industries like electric vehicles, AI ICs ...
if only we could find a way to do it on a level playing field without the government trying to pick winners?!
Probably just one of many trying to protect their involvement.
Shouldn't smoke in the loo.
robsmark
Regular
Sage advice which I agree with entirely.
BaconLover
Founding Member
They have done something similar with TESLA a few years ago. Took a 10% stake which apparently "saved" tesla according to Musk.
Could this be a possibility, as we know both Merc and BRN want to protect their products so have taken a joint approach?
Nothing substantial, just goss and adding fuel to the fire.
Bravo
If ARM was an arm, BRN would be its biceps💪!
Alternative Doozie of a Plot Twist - Elon Musk is behind CityCorp.
I'm telling you, Elon loves NASA and we're practically besties with NASA as everyone who's anyone knows. So, I'm just putting 2 + 2 together. Look, he's already dropping massive hints on his most recent twit.
HopalongPetrovski
I'm Spartacus!
So, again this is ringing those memory bells, who holds the voting rights for all those shares currently registered under Citicorps name?
Citicorp or the individuals/entitys that have relevant accounts with Citicorp?
I want to believe that there is a very good reason why we were not told of Citi becoming the number 1 shareholder at the AGM. Giving the team the benefit of the doubt until we get further information.
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