Yesterday a number of significant trades appeared after hours – there were 4x 500K trades spread throughout the day, all at a very similar price, and all reported late.
This caused me to speculate on the LSE board:
After hours 500K trades, x4 - all very similarly priced and taken through the day. Leading contender for this surely has to be Darwin's 3M warrants at 8p. The 8p delta hedge game is over for them now - with another clear 1p of profit in the bag they could make an easy 30K pounds by cashing in their 3M warrants at 8p.
Today we see more delayed trades appearing from the 6th June, 600K also at the same price, and timed after the last of the trades reported yesterday.
Another of the delayed trades reported today is the 400K trade today at 13:38, which, guess what, is also priced at exactly 9.00p.
Can it really just be coincidental that these, almost identical, trades add up to precisely the 3 million that were granted as warrants to Darwin at 8p ? – or have these shares actually been forward sold into the market yesterday and today ?
We might expect to see a warrants RNS in the next few days…