Quite a significant announcement in my opinion. The now significant shareholder is a Chinese pharmaceutical company, "China Pharma Holdings Ltd" a world wide medicine company with an impressive growth record since being founded in 1996. They appear to have no previous holding in Paragon, so have made a strategic acquisition as a major shareholder. The big question is whether they will continue to be a "significant" major shareholder, or have future plans to make a take-over bid for Paragon as a whole. They appear to be large enough to make an outright take-over offer down the track. Either way, I think this is good news for we, the current shareholders. This announcement will make other investors sit up and takes notice of Paragon
PGC Price at posting:
28.0¢ Sentiment: Buy Disclosure: Held
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