for more information about stanelco click on the links.

driver's research page link
http://www.moneyam.com/InvestorsRoom/posts.php?tid=7681#lastread
website link
http://www.stanelco.co.uk/index.htm

OK - something to work on!
AoR are therefore taking up between 81% and 100% of their entitlement - depending on if they are putting in more cash or not. They could still possibly be among the 11m Firm Placing also.

I believe chatter on friday was about 2 sales, 85m and 45m shares. Now we know the identity (and reason) of the 85m. So any guesses as to the 45m?

Possibly this could be Richards & Appleby doing the same operation but also releasing some cash. But if it were them they would presumably have to similarly notify the change in their holding.
I have long been curious as to how R&A fit in and I do suspect they are 'connected' with (or at least well known to) HW and/or SEO in some way but I have been unable to find a positive connection in my searches in the past.

Times Saturday

*Rumour that director Howard White has sold stock in Stanelco (LSE: SEO.L - news) to fund the take-up of his rights.

How many did he hold?

NONE !

Buy AoR did - over 217million

Original holding = (132,078,122 remaining + 85,000,000 sold) = 217,078,122 X 3 for 5 entitlement = 130,246,873 X 0.8p = 1,041,974.98 to be purchased under the open offer = 85,000,000 sold at approx 1.226. So I think AoR has sold just enough to exactly cover the cost of fully subscribing - thereby taking max. advantage of the difference between market and offer price. Not sure how folks above arrived at differing amounts.

I still find it odd that AoR's holding and known connection to Howard White does not compel SEO to treat him as a connected person - presumably he is a trustee at least, anyone know?, with thus a legal ownership of the shares if not beneficial.

In any event, if he has informed SEO how he proposes to act (I bet they knew some time ago), it is a material fact they should have let all shareholders know.

That apart, I do not see it as detrimental that AoR has had to do this to fund the take up of their entitlement. Even though they made money doing it, it will on balance probably be read by the market as a positive gesture of support.

Is it safe to assume the 45m sell was also for the ame reason?

sd

SD
Sorry, my error.

In my quick calculation in my post 21960 I didn't read the RNS properly. I saw 1p and assumed it was the sale price, not it's nominal value !
Agreed that AoR do no need further cash to take up their full entitlement - so we know how to read between the lines of the RNS's final para.

Still leaves the 45m mystery. R&A? Who else holds that many shares? No one other than Nominee Brokers who surely are holding for hundreds (if not thousands) of individual investors?

On the basis that the shares have to be paid for by now - is it safe to assume that there will be no further large transactions by those holders who needed to sell just to raise the cash.

Accepted , that there will still be those that might still sell just to profit from the difference to use funds elsewhere?,

Tony - did u say that you were going to tell SEO that there were going to be about 150 angry PI's at the EGM.

Let me know names and I will do name badges

Blimmy I got some thing right for a change.

driver
- 27 Oct 2006 15:49 - 21880 of 21966 edit this post

Plus another 45m and a 10m shares is it the age of reason?

Shifting the viewpoint slightly.

It must have been a salutory experiance for HW/AoR to have to act like this and still see their percentage holding reduce so much.

Maybe he/they will be coming to the EGM with the same disatisfaction that a number of us have, and will no doubt express, about the aparent inept management !

BH.
So far not a long list of PI attendees so hardly a need to let them know - and we all know each other so name labels hardly necessary!

I'll try again.

EGM next monday 11.00am. 15 St Botolph Street, EC3

Any more posters or readers planning to attend please post your name (or Email tonyrelaxes@hotmail.com ).

Afterwards some of us will be having a drink possibly lunch nearby and to assist recognition namelabels will be available.

Hi Tony ,real names or posting aliases!

Oops - sorry. Posting alias/name only please.

So far I have on my list:-
BHunt1910
Oilywag
Mad Pad

looks like a cheap round of drinks and only one plate of sandwiches.

Sorry guys, but next week is a no no for me.
Firstly I'm a good northern lad, so you wouldn't find me in London (the beers crap) and secondly I am (hopefully) moving house next week to a new council pyramid.
Best wishes to all, and those I owe a beer to, send me the bill.
alan

Tony,

The AoR trade of 85,000,000 is recorded at 1.0p therefore only 850k raised of the 1.04m needed. So either AoR has some spare cash lying around or they have or will sell a few more.

The 45m trade was most likely R&A.

As Iam new to the world of investing in shares, could anyone please explain to me why the SEO share price has actually risen today even though (if i have read it right) selling of shares has vastly outnumbered buying??

Garyble. Thanks

The 85,000,000 is not recorded at 1p per share. When the 1p is mentioned, its the nominal price not the price dealt, as someone has already pointed out.
Sale of 85,000,000 ordinary shares of ( note not at) 0.1 pence each in the Company. Easy mistake to make.

Alchemy,
It may be due to the MM's making a market, ie price in general goes up to entice punters to sell, or maybe orders to fill in the background, or a bit of both.

ALCHEMY

Its called supply and demand if you put your house up for sale at say 1 and ten punters offer you 90p you tell them where to go, then some one come along (Not Alan his council) and offers you 1.20 your not going to say no, so the price has in effect gone up. On reflection there was ten sellers and one buyer and the price went up if you believe that you will believe anything.

Thx Greekman.
Does anyone have any thoughts on where SEO's shareprice will be after Monday if the refinance goes through without any problems? would it follow that if all is well the shareprice rockets with investers clamering to buy or would it be more of a sedate return to previous levels?