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19/08/22
08:38
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Originally posted by joewolf:
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I am not normally a conspiracy theorist - I think most often a straight line is just that. However I noticed from the announcement that Cooke hadn't increased its holdings from 19 July - The same 10.5% ( or 10.49 in Substantial change notice) Since that date and including the past few days 54.4Million shares have traded. At first I thought that must be Cooke but why would you buy the shares of people who would sell. You still have to get to the meeting and get 50.% plus 1 share to pass it. I assume. Don't buy u - $515 @ 4% for 90days is p the shareholders who would sell. Yes there is 10c difference but given that this will take at least 90 days to get your money that is already 5c - I would not have thought that was enough incentive and as all the long term holders here seem to think its done and dusted. So who is buying these shares - ARG sold 3.5million of their roughly 10 million shares. I would presume they have decided to redeploy the funds. So who would be buying for 5c and if it goes wrong you lose a lot more and the chances of a counter offer is very unlikely. The volumes are however 25$ of the company's shares. It isn't like 10% So what is going on here? Shorts are exciting ... per Shortman.
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Its big instos playing the margins. 5.23 - 5.15 = 0.08 0.08/5.15 = 1.55% Money tied up for 4 months, annualised, its equivalent to 6% return. Better return than cash and they consider it minimal risk