december vote, page-7

Acamas

I know that Simon Potter in an interview after the Tullow bid said that institutions had deserted HDR since the Ching problems and their holdings had gone from over 60% to just 10%(Merrills have 9.6%). Of course since then as the takeover has emerged the instos have been buying again but I doubt that they could be back beyond say 30-40%. I would expect steady buying to brokers close to Tullow from now until the meeting.

I think there's a beter chance of a higher bid than there is of a No vote at the meeting.

H