This is a positive announcement for us remaining holders and the trading today was also positive to see.
To put these numbers into perspective, on 29 December, Raphael Geminder reported that he held 292,061,956 shares up until 28 December 2023 (inclusive). On 16 January he corrected the figure and calculated that he only owned 290,546,005 shares as of 15 January. One week later and he has only increased his holdings by 771,877 or an additional 0.224% of total issued shares.
As of 22 January (inclusive) he only holds 291,317,882 (84.61%) shares, which is still less than he reported back in December. He needs to acquire ~18,543,166 additional shares to reach the 90% hurdle. At the current rate, that would take him almost half a year and providing none of the larger holders suddenly accept the offer the number of shares he will acquire should progressively drop.
He must be close to spending more on his telemarketing company and other services used to harass shareholders than how much he is spending on acquiring shares.
PGH Price at posting:
85.0¢ Sentiment: Hold Disclosure: Held
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