BEG - Directors converting shares to SSF exp Sept 07

[ABuzz]

With the directors converting in excess of R 34 million of shares into SSF expiring in Sept 07, this must indicate that they see this insrument performing well and hence the share itself should follow suit. Time to climb!

[JohnnyCash]

Im starting to think that this is just a good way of them actually selling out! I dont think there is any requirement to notify via SENS if they were to dispose of the SSF's! So they can now do it as and when they like! Just my thinking. Id certainly still back SHF rather than BEG on SSFs....

[vishal]

I c that 2 million shares traded already in the first hour of trading. Amazing

[Plonky]

Heads up! . Look at the trades now. 12 Million shares traded in one minute

[theyoungster]

most volume today we've seen in ages. i recon might reach 30c 2day even? this little seabisciut is really sparking interest hey

[ABuzz]

The 12 million share transaction looks like institutional investment. OMO

[ABuzz]

Up to 29 cents already...

[theyoungster]

too much sell off @30c

[ABuzz]

Now at 31 cents. And some MASSIVE transactions - sure it is some more institutional buying.

[SimonPB]

ssf trades by directors do have to be notified, and yes it is in a manner a way of actually freeing up cash. Albeit risk remaisn teh same. Lastly, the fact that it is a sep07 contract doesn't mean much, they can just roll into dec07 at expirey. In facty they can roll forever.

[MoMoney]

They better keep their cell batteries well charged and never on silent. The broker will be calling soon, requesting a top-up of the margin.

[MoMoney]

They better keep their cell batteries well charged and never on silent. The broker will be calling soon, requesting a top-up of the margin.

[dreamer]

Wow! Very interesting day for BEG. I cannot explain this sudden rise in volumes (I expected the rise in price). Maybe it is institutional investors which would be great. Hope so. Anyway, I am holding on to the share. My view is that this a company that is acquisitive, seems to have got the turnaround going, and has some significant plans to gain market share. I think thats the way to go with Alt-X shares - if you find a good company back them for a few years, and through the tough times (of course be sensible about this). OMO

[CAB]

But there are no SSF's on BEG? According to OST anyway!

[SimonPB]

we may not offer ssf's on BEG, but the directors can get a broker to do a special deal for them.

[klapka]

So is it possible the large volumes on 11th July were simply the brokers who issued the ssf just covering themselves?

[klapka]

So is it possible the large volumes on 11th July were simply the brokers who issued the ssf just covering themselves?

[SimonPB]

yes, possible

[john_1]

Simon surley the dirrectors would sell there current holding to the broker which he would then hold as his hedge against the position, How close was the volume traded= the number of shares required to cover the position.

[SimonPB]

john sure, they could just have transfered shares they already own to the ssf broker and get contracts in return. if that was the case (and I haven't even read all this thread - never mind the details on sens), then all they ahve done is freed up cash. sellign without selling?