Hi Klem,
Here are my guesses:
1. Bit of "Panic" - we were all a bit shocked by the US 500+ drop
2. As 77 surmised maybe some rotation into more HINs - How many new shareholders have joined ESG ? How can we find out ? Not cheap I suppose - would cost us $ ?
3. Maybe some hoovering up by FOS
4. The Famous Left Field Unknown Other-Bidder getting set - what is 5% of 1024M = 51M shares , At 5% they would have to declare substantial holder status.
5. The more Famous Other-Bidders Contested Auction getting set - if there are quite a few of them then say the three main ones BG Shell ORG 3 x 51 = 153M before a 5% declaration
What is the sub-total now 204M
That would mean 4 parties - 1 Other-Bidder and 3 Other-Bidders all getting their ducks lined up
So far 386M shares + today ~25M = 411M shares so far of which 4 Bidders would account for 204M leaving 207M unaccounted
6. Hedge Funds - quite numerous and they could accumulate under the 5% limit - so lets say 4% - 41M shares , so they could remain undetected
So 411M/41 = 10 hedge funds could have hoovered up the whole lot, assuming 10 of them are interested
Conclusions:
1.It could just be the many Evil Hedge funds accumulating in the hope that they can then sell off to an Other-Bidder or get set for a Takeover of STO itself later on
2. It could be ONE Other-Bidder getting set plus a few hedge funds accumulating
3. It could be TWO Other-Bidders getting set plus a few hedge funds accumulating
Cheers
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