iva and expoloration ground --- franked or not, page-12

I had a look at the JRL chart (mentioned above), to see how it looked compared to Exco, when the deal was announced.

I found it striking in the similarities.

Both spiked up and were sold into on the day of the announcement.
Then both were sold off again the next day by 2.5cps.

JRL then climbed steadily almost everyday after that.

I note that the dividend that JRL was paying was 55cps and it would seem that they rose about half that amount.

They also sold off only 10cps when they went ex-dividend, but continued to sell down each day as those who "bought the dividend" sold off.

have a look at how similar the first two days of trading are in both charts.


JRL on announcement

Exco on announcement

cheers