A number of weeks ago during discussion with management, they confirmed on more than one occasion that the combination of the platinum transfer of shares to Aahana, the share placement to Aahanna, as well as the exercise of options will not put them over 20% and hence no compulsory offer.
Discussing the number of shares on issue and going through the figures specifically, I questioned how this could possibly make sense?
They didn't explain how they will say under 20% but reconfirmed they most definitely would. The only thing I would conclude is that Aahana will sell off a chunk to stay under 20% (we already know they have been selling based on the substantial holder notices).
Keep in mind that this could be an off market sale (purely hypothetical, but perhaps to BMA).
If anyone has spoken to management in relation to things and can either confirm or has conflicting info, then i would love to hear it!
Yeatesy
Ann: Appendix 3B, page-8
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