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11:32
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Originally posted by Lopez:
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GG to the rescue again.Now up to 243.5m shares or 19.13%.He can go to just under 20% and then has to either make a takeover bid to buy more or wait 6 months before another 3% and he can do that again every 6 months. So now that he’s over 19% the clock is already ticking for the first 6 months even though he can keep buying up to 20% at present.So his maximum holding before the first week of August is 254m shares or another 10.5m shares (absent any other capital raisings).GG bought 19.35m shares in the CR at $A2.50 which stopped him getting diluted and bought the rest in the market.Three times he bought lines of 2m or more - as I suspected he was the big buyer lurking in the market disclosed a few cents below the bid.The big question is who bought the other 84m shares in the CR and what are they doing with them - are they flippers or long term investors or maybe even involve a partner. My guess is a combo of SI’s usual mates. It amounts to a mystery over 6.6% of the company.GG gives no sign of stopping. I am guessing he will buy right up to 20% and the current price is below what he has recently paid, so he could be back in the market any time
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GG last purchase was at 2.4m at $3.14 as we saw this week. This is very bullish for SP having this guy loading up on the up.
(20min delay)