its quiet so is anyone game to call an ar?, page-33

Skul

You stated your expecting the SP to shoot up 5-10c in the next few days. I don't see the sell lines capituating anywhere near to the extent required to produce the surge you are expecting. Volumes would not imply anything significant either.

As a wholly state company GRAM would need to go through the FIRB process. We are lacking precedents to assume it would be a mere formality. We know they have the nod to go to 25% thats all.

GRAM have a history of buying investments in a wide variety of industries and owning minority stakes in listed and unlisted companies.

They did not elect in increase their holding (at prices lower than the current SP) by the 1% allowance prior to the standstill agreement lapsing on the 26th May. Nor have they chosen to increase to date.

Yet you suggest they will launch a full TO in the next 6 months?