Ann: Change in substantial holding, page-7

They are close to 19.9% - the latest announcement doesnt consider the last 3 days which has seen around 1.5mil shares trade hand. Considering their 80% buying per day - I say they have gobbled another million already. So they would get another mil in next 5 days.

I think strongly that OCP are going to take this private OR an outside player is going to come and offer TER a buyout offer with the support of OCP. Timeline is impossible to predict - could be months if not yr.

I wont rule out price suppression for a long time until this deal is done. Once you have a capper in place like OCP - it is generally not great for LT retail. I doubt even after OCP receive 19.9% this capping would lift.

Singo and Wal King are smart operators though and they obviously seen this work by OCP. another possibility is singo underwriting some more shares to pay off debt making him the largest shareholder in TER and OCP holding getting diluted.

I hate this capping - has happened to me in the past - they have deep pockets and plenty of patience. They smoke out retail eventually