“The all ordinaries removal could be interesting. Funds which now need to offload their stocks have a reason to have accumulated for the past few weeks and now offload to RG off market. Call me a conspiracy theorist.”
You mean removal from the index not the All Ords?
I think the Index removal will have little to no effect on stock and price movements, all holders now have by now worked out what it is they are prepared to do, I’d say most of the panic selling from, let's call it from uninformed share holders would have been done by now and as we see the volumes going to king RG continue to dry up gives holders the chance he fails to reach his 90% mark.
HOLDERS have 3 options
Sell on market. - Get market price Sell to the offer - Receive 0.84 Or keep your shares - RG gets to 90% and is successful with CA which means you still get 0.84 or he fails and at a later stage he comes back to maybe MANIPUR (largest holder) and offers a mop up price which all holders will receive that have held out.
So continuing to be a shareholder gives you rights and you still are an owner in the company and unless you need the money I say HOLD THEM TIGHT!
PGH Price at posting:
85.0¢ Sentiment: Hold Disclosure: Held
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