Ann: Ceasing to be a substantial holder , page-8

I think we all expected lots of twists and turns and different agendas.

Centaurus dumped/sold on market just after the LG profit guidance warning last week mainly into the hands of Weiss. So is Centaurus issue with SBL management or LG offer/SP, or both parties?

It’s likely they saw that either the LG offer may lapse or that there may not be a revised offer in light of the profit downgrade. (I know the LG SP has remained stable since this announcement). Maybe they feared a CR later in March if the offer lapsed?

It’s interesting on 7/2/12 Centaurus was still buying over 16m shares on market @ 1.6. They also dumped 17m @ 1.6 on 7/2 (later in the day? Why?).

On the SGX the LG profit warning came out on 7/2/12 @ 5.29pm. See link … http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_B9764490D34101774825799D003322DD/$file/LGC_ProfitWarning-3rdquarter7Feb2012.pdf?openelement


However, on the ASX the LG profit warning came out after close on 8/2/12 and Centaurus dumped a large parcel first thing on 9/2/12. Not sure they made a loss, but probably covered expenses and protected the bulk of their capital.

On 9/2/12 Weiss bought 108m shares increasing holding from 6.5 to 10.5% and it looks like they got the bulk of what Centaurus dumped that day.

So it looks to me Centaurus didn’t think much of LG and cashed out via Weiss whilst they could. Must admit it would be interesting to know their reasoning.