ICG 0.00% 0.5¢ inca minerals limited

Ann: Ceasing to be Substantial Holder, page-8

  1. 317 Posts.
    Their second parcel (now 14,424,165 shares) was originally 20 million shares. This means they has sold down their holdings by 5,575,835 shares (this is reflected by the figures in the bottom half of the table). They still have their original 60 million holding. So they currently have 74,424,165 shares total.

    As stated; "Reduction in relevant interest (voting rights) following sale of securities on market by registered holder."

    I would imagine they sold enough of their holdings to get below the threshold so they don't need to vote in line with the board anymore (either that or the ICG board agreed to release their shares so they can have voting rights). However, I'm not sure what the original arrangement was with ICG in relation to the voting rights.

    Interesting they are selling down just enough shares to gain their voting rights back - I do not believe they are doing this to profit take as this is chump change for them. This is a bullish sign IMO but also be wary... this could well be a strategic move by the Chinese.
    Last edited by iDooze: 07/04/17
 
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