I have seen this happen before in a listed resources trust, the hedge fund built up a substantial position via the options and once converted the called an EGM to break up the trust as it was trading at a substantial discount to it's NTA.
They ended up being successful and pocketing some nice $$$.
Here's a look at the broker data for ADNOB's for the last 6 months, nothing really compelling about it. My interest activity is shown via Morgan's (can't say the whole +8mil are mine, wish they were....)
ADNOB options - $0.012 strike, 30 November 2020 expiry, page-431
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Last
2.0¢ |
Change
-0.001(4.76%) |
Mkt cap ! $62.20M | |||
| Open | High | Low | Value | Volume |
| 2.0¢ | 2.1¢ | 1.9¢ | $49.00K | 2.513M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 2617961 | 1.9¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 2.0¢ | 20738 | 1 |
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| Last trade - 16.10pm 02/08/2024 (20 minute delay) ? |
| ADN (ASX) Chart |