Matched Bargain Market

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You can’t buy or sell Thrive Renewables shares on an investment exchange, such as the London Stock Exchange or the Alternative Investment Market. But you can trade them at monthly auctions via an independent Matched Bargain Service.

The Thrive Renewables Matched Bargain Service (MBS) is run by an experienced independent stockbroking partnership. Please read the information below, if you have any questions or would like to buy or sell Thrive shares please contact our dedicated MBS provider Robert Fogg at James Sharp & Co. on 0161 762 3763 or email r.fogg@jamessharp.co.uk

How the Matched Bargain Service works

The Matched Bargain Service (MBS) allows shareholders to buy or sell shares in unlisted companies like Thrive Renewables plc that are not currently listed on a regulated market. Buyers and existing shareholders wanting to sell their shares can exchange shares at monthly auctions, run by our MBS provider, James Sharp & Co.

 

Dates of upcoming auctions

Below are a list of dates of the Matched Bargain Service auctions at which you can buy or sell shares.

Date of auction Date by which all sell orders must be placed with James Sharp & Co. Please apply in advance of this date to allow enough time for completing and returning the application form Date by which all buy orders must be placed with James Sharp & Co.  Please apply in advance of this date to allow enough time for completing and returning the application form
31 May 2017 Auction closed, see table below for results Auction closed, see table below for results
30 June 2017* 4pm on 23 June 2017 12.00 midday on 30 June 2017
31 July 2017 4pm on 24 July 2017 12.00 midday on 31 July 2017
31 Aug 2017 4pm on 24 August 2017 12.00 midday on 31 August 2017

*Note for buyers in the June 2017 auction: The record date (cut-off date) for eligibility for receiving the 2016 dividend, (which is paid in July 2017 if approved by shareholders at the Company AGM) is 29 June 2017. Any buyers purchasing shares after 29 June 2017 will not receive the 2016 dividend.

Making an application to buy or sell shares

When you contact our MBS provider, James Sharp & Co they will send you an application form to complete. UK residents will need to provide a scanned or emailed copy of their passport or driving license as a form of identification. If you don't have these forms of identification, James Sharp & Co can advise you of which alternative ID documents are acceptable. For non-UK residents, additional identity and address verification documents will be required and James Sharp & Co will advise you what you need to provide on application.

You will need to state a price for buying or selling Thrive Renewables shares. If you’re looking to buy shares, this means you need to decide on the price per share you’re willing to pay, and the number of shares you wish to buy. If you’re selling shares, you need to decide the minimum price you’ll accept for your shares. If you're selling shares you'll need to make sure you have your share certificate to hand before you start the selling process. If you have misplaced your share certificate, a replacement can be ordered from our Registrars Computershare, by calling 0370 707 1350.

You can chose to buy or sell shares at the current Directors’ recommended share price or set your own price. You can change your buy/sell price at any point up until the last working day before the auction closes, by contacting James Sharp & Co.

Important note for sellers on deciding what price to list their shares at

Sellers need to set the minimum price that they are willing to accept for the shares. The idea is that the seller can determine a minimum price that they would be willing to accept, so they won’t ever sell the shares at a price they are unhappy with. Shares are matched by prioritising the highest priced buyer with the lowest priced seller, and shares will always trade at the buyer’s price. Buyers are able to see the minimum prices that sellers have listed at but buyers cannot see what price other buyers are bidding at. As buyers can’t see the highest current bid, this stops them from just bidding a penny more than the best current bid, and should ensure the sellers always receive the highest possible price a buyer was willing to pay for the shares.

Please do not set your minimum selling price at a price that is lower than what you would be happy to achieve for your shares. For example, if you set your minimum price at £1.00 you are accepting that a buyer may purchase your shares for £1.00 if that is the current highest buyer’s bid in that auction.

Next steps

Five working days before the auction end date, James Sharp & Co will collate all the seller’s offers listing the minimum prices that the sellers are willing to accept and the quantity of shares for sale. They then email the number of shares available to all buyers and sellers who have registered their interest in that month's auction. Buyers then have 5 working days at the end of the month to place their final bids for the shares. If a buyer does not have access to email they can contact James Sharp & Co by telephone to obtain the number of shares for sale and place their final bid.

The matching process

Once all bids have been placed buyers and sellers will be matched on the date of the auction prioritising the highest priced buyers and the lowest priced sellers. The trades will always be matched and transact at the buyers’ price. In cases where there are several sellers stating the same minimum price, sellers will receive the weighted average of the buyers' price.

Below is an example of how matches are prioritised:

  • Tom wants to sell 2,000 shares at £2.50
  • Sue wants to sell 4,000 shares at £2.60
  • John wants to buy 1,000 shares at £2.40
  • Ali  wants to buy 500 shares at £2.75
  • Lisa wants to buy 6,000 shares at £2.65

Matching results:

  • Ali purchases 500 shares from Tom at £2.75 (highest priced buyer matched with lowest priced seller).
  • Lisa purchases 1500 shares from Tom at £2.65 and 4000 shares from Sue at £2.65 (Lisa is the second highest priced buyer and there are still shares available. The trade always transacts at the buyer’s price).
  • Lisa notifies the MBS provider that her request to purchase the remaining 500 shares at £2.65 should roll over to the next month’s auction. Lisa can consider changing the price and/or volume for the next month’s auction if she wishes.
  • John buys no shares at £2.40 as no one was selling at this price and his price was not high enough to beat Ali or Lisa’s. John can notify James Sharp & Co to roll his buy order on to the next month’s auction. James Sharp & Co will let John know the prices at which shares cleared so he can consider changing his price for the next auction.

Results from previous auctions

Our first auction was held on 19th February 2016. We will list the results of all future auctions in the table below when available.

Date of auction Total number of shares traded   Average price shares traded at (minimum and maximum prices achieved in the auction)
19 February 2016 58,525 shares £1.98 per share (£1.90 to £2.00)
31 March 2016 560,241 shares All shares traded at £2.25 per share
29 April 2016 51,842 shares All shares traded at £2.25 per share 
31 May 2016 53,531 shares All shares traded at £2.25 per share 
30 June 2016 0 shares No shares were traded in this auction 
29 July 2016 5,500 shares  All shares traded at £2.27 per share
31 August 2016 15,500 shares All shares traded at £2.23 per share
30 September 2016 48,000 shares All shares traded at £2.24 per share
31 October 2016 7,500 shares £2.23 per share (£2.18 to £2.27)
30 November 2016 4,750 shares All shares traded at £2.20 per share
30 December 2016 12,950 shares £2.07 per share (£2.05 to £2.19)
31 January 2017 18,158 shares £1.97 per share (£1.96 to £2.05)
28 February 2017 18,082 shares £1.86 per share (£1.80 to £1.92)
31 March 2017 13,118 shares £1.82 per share (£1.82 to £1.86)
28 April 2017 12,000 shares

£1.74 per share (£1.70 to £1.75)

31 May 2017 23,125 shares

£1.64 per share (£1.59 to £1.80)

Settlement and transfer of payment

Settlement generally takes place 10 working days after the date on which shares are bought and sold at the end of the month (‘the auction date’). Once a buyer and seller have been matched, James Sharp & Co will contact the successfully matched buyers and sellers to confirm the match. Contracts will be sent to all buyers and sellers to confirm the number of shares they have traded, the price achieved, and the costs to pay.

Contracts and payment from buyers must then be returned promptly and sellers must send James Sharp & Co their original share certificate(s). James Sharp & Co will then deal with our Company Registrar, Computershare Investor Services, and arrange for a new share certificate to be produced in the buyer’s name.

Payment will be transferred to the seller by bank transfer from James Sharp & Co on the settlement date.

Charges for using the Matched Bargain Service

The following charges will be made for buying and selling via the Matched Bargain Service. James Sharp & Co will provide buyers and sellers with their standard charges summary on application:

Charge Buyer Seller
James Sharp & Co Commission charge Nil 1.65% of the total amount of the sale on the first £7,000, 0.5% on the balance over £7,000.
Stamp Duty Charge 0.5% of the total amount of the purchase, rounded to the nearest £5. Nil
James Sharp & Co Compliance charge One off charge of £10 One off charge of £10
Certificated holding charge (this charge applies to any trade where the holding is held in certificated form as a paper share certificate) One off charge of £20 One off charge of £20

Trading via CREST/Euroclear

Please note that is possible to trade Thrive Renewables shares via CREST/Euroclear if you have a CREST/Euroclear account. Thrive Renewables' ISIN number is GB00BYS30W00 (all 0's are the number zero). For more details, please speak to our MBS provider when applying. Contact James Sharp & Co on 0161 762 3763 or email r.fogg@jamessharp.co.uk

Important information

Thrive Renewables plc is an unlisted company and shares in Thrive Renewables plc aren’t traded on an investment exchange  such as the London Stock Exchange or the Alternative Investment Market). This means share transactions can be infrequent, and there may be a delay between you giving instructions to buy or sell shares and your order being completed. It also means it can be difficult to assess your investment’s value.

The value of your investment and any income from it may fall and you may get back less than, or none of, the amount you invested. We only publish the Directors recommended share price on the Thrive Renewables website. When the share price changes, we contact shareholders to let them know.

Contact details for buying and selling shares

If you’re interested in buying or selling shares contact the MBS provider, James Sharp & Co:

Phone: Robert Fogg on 0161 762 3763*

Email: r.fogg@jamessharp.co.uk

Write to:

James Sharp & Co

The Exchange
5 Bank Street
Bury
Lancashire
BL9 0DN

*Calls are charged at local rate and lines are open Mon-Fri 08:00-17:15.