Ann: Ceasing to be a substantial holder from WAM WGB WMI WAX, page-12

First 12 Last

Share
Profile

Follow
Mareed

547 Posts.

57

01/10/21

08:30

Post #: 56487350
Share

Originally posted by Hopeful9: ↑

From 'SMH' tonight - should be in this and 'The Age' on Friday 1 October 2021:

The article also claims that WAM reducing its stake may make it easier for Solomon Lew, who is expected to call a general meeting after the MYR AGM):

"...Before this sell-off, WAM was a 7.8 per cent shareholder in Myer, and this move will see the fund’s stake fall to around 4.5 per cent, dropping it below the 5 per cent ‘substantial’ shareholder threshold.
Oscar Oberg, a fund manager at WAM, told this masthead the move was nothing more than profit-taking, with the fund making a number of recent purchases when the company was trading down at around 20 and 40 cents a share.

“Myer has had its ups and downs since we first bought in around June 2018,” Mr Oberg said.
“This is no different to any other investment we have in the portfolio, retail is a volatile sector and who knows what’s going to happen when we all open up.”
“We think the management team is doing a fantastic job, and nothing’s changed there. If the share price goes down to 40 cents again, I’ll probably buy it all back.”
Myer has been in the crosshair of some of its investors in recent months, most notably majority shareholder and retail billionaire Solomon Lew who is agitating for significant change on the company’s board..."

Expand

so WAM did not disclose that they increased their holdings at 20 and 40cents a share but yet they're disclosing that they're selling now.. looks like WAM wants to see share price go down for some reason, maybe go buy more if day.

MYR Price at posting: 57.0¢ Sentiment: Buy Disclosure: Not Held
Upvote

0 Great analysis

Reply

Top Stories

DXB

Dimerix begins recruiting young kidney disease patients in Mexico for Phase 3

CU6

Clarity progresses SECuRE trial with positive safety results

3 stocks with antimony news on Thursday

ASX Market Open: Local bourse to trade green | Thursday September 12

CHN

Chalice jumps on Putin nickel export ban threat – but then there's bad news

MTM

Forget gallium: MTM says it's extracted gold from e-waste

BRX

Belararox to grow copper footprint in Botswana with 4,286 square km tenure

GTR

GTI extends uranium mineralisation at Lo Hema through development drilling

SS1

Sun Silver confirms high-grade extension theory at Maverick Springs with 79.6 g/t intercept

NEC

Nine Entertainment announces its CEO is stepping down – on an ex-divvy day