Agree Spider. I’ve been asking myself “would Mr Kanji take a 20% stake just because he feels it’s a good investment, and nothing more?”. Well, it’s possible…but I doubt it. And he has enough to do without sitting on the board of another company for no particular reason. On the other hand, the company he is strongly associated with just raised funds with a view to acquisitions. Spirit is a good fit and he’s clearly showing interest. The dots do seem to join up. I’m a bit puzzled though…if a take over is envisaged, why wait…Spirit might turn around in the meantime, the share price could recover and they would wind up forced to bid a higher price. But maybe he thinks that’s ok, his holding increases in value too.
Anyway, I too think something is going on, and it’s certainly a favourable development for the company, although after the recent pull-back, the share price hasn’t really moved all that much from where it was before all this began. Certainly I think it’s worth considering adding at current levels, and then awaiting developments.
ST1 Price at posting:
5.2¢ Sentiment: Buy Disclosure: Held
