On Thursday last week, 5m shares were crossed by BarrenJoey, now we know it was Catalyst selling down. Another 2m shares were crossed by Jarden. Looking at the share registry, guaranteed it was Wilsons selling down. Now, the real question is who bought in. 2m shares = 3% so the party that bought the Wilsons' parcel won't have to lodge the substantial shareholder notice. The party who bought the Catalyst's parcel will have to lodge the substantial shareholder notice. Since there has been none so far, I suspect there might be more than 1 party involved in the BarrenJoey crossing. So very likely they will fly under the radar. The risk is they are a bunch of short term traders, which will basically put a cap on share price unfortunately.
However, on the bright side, with the stock trading at 9x PE and spinning out 10% dividend yield, Dusk might well be a target for a PE firm.
DSK Price at posting:
$1.98 Sentiment: Buy Disclosure: Not Held
