I've been pondering those figures. Suspect they (Merchant) keep topping up the Biotech Fund from their transfer of surplus shares (over and above the 300k) to "another entity" within the group - the three Amigos or similar for example - then Off Market Transfer the extra Biotech Fund shares as the Biotech fund moneys flow in, at the SP VWAP of the time ... making a margin for the "other entity" and soundly "averaging up" for the Biotech Fund.
They have the further opportunity to short against the box on any news that drops over the interim, and make double their margin.
I personally don't mind as RAC should now start to become more predictable once we break out of this range we've been in for so long ... 9 months or so. (And Merchant just gave themselves more ammo to manipulate with. IMO)
Ann: Ceasing to be a substantial holder, page-11
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Last
$1.52 |
Change
0.050(3.41%) |
Mkt cap ! $254.0M | |||
| Open | High | Low | Value | Volume |
| $1.50 | $1.53 | $1.49 | $183.0K | 121.1K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 5914 | $1.49 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.51 | 4232 | 2 |
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| Last trade - 14.32pm 04/11/2024 (20 minute delay) ? |
| RAC (ASX) Chart |