L1 Capital might be buying for the takeover partner? Perhaps they have reached in principle agreement with APAC? Maybe this is all wishful thinking - but the 7.1 million shares at 20.5 cents is a pretty strong move, doesn't look like a retail investor getting excited about potential takeover.
The alternative is this is the parties shoring up support for the vote.
MLX Price at posting:
22.3¢ Sentiment: Hold Disclosure: Held
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