I am surprised that the 3 million was sold by Hudson and it could of been many reasons for the sale. My suspicions tell me that the 3 million they originally bought from Raffles were warehoused within Hudson's until which times a more suitable long term holder was available.
Hudson still maintain their core holding (6.5m shares) and they have also been off loading a majority of their stake in ABZ (which was in escrow until just recently)
Its important to remember that Hudson are an investment house and they were essentially seed capital in a number of resource companies. Hudson have no interest in taking over AXE and main investment objective is to diversify their assets.
The fact that the 2 million which was put through the other day was picked up without knocking the share price around shows they went to a pretty good home imo.
Another thing that surprised me was Alice Cleary subscribing to the SPP. It's clearly not oversubscribed. Those shares at 30 cents are a gift peoples and if you haven't BPayd your funds you better get cracking!!!
AXE Price at posting:
36.5¢ Sentiment: LT Buy Disclosure: Held
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