So Myer has been selling down it's stake since the NAB announcement via a few chunks of share sales.... I wouldn't be surprised if it's NAB that have been buying these shares from them. As per the deal NAB has up to 18months (from last weeks announcement) to buy up to 5% of Plenti via on market purchases. After that NAB have to pay at least 90c a share (via a placement) for anymore (up to another 5%). Then if NAB want more shares they have to again pay no less than 90c a share (via another placement - for up to 5% more).... but potentially more than that, depending on what the Plenti SP is trading at.
PLT Price at posting:
80.5¢ Sentiment: Buy Disclosure: Held
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