Why stop at 40% ownership?? why wouldn't he either buy more or the whole lot? Why hang on to just 40%, my theory and I have said it before is that he has written off his holding and his holding owes him nothing. Look at the capital gains for SGH its at all time highs going gangbusters.
He could do what Germinder Raphael has just done at (PGH) Pact Group wait for the share price and the bottom of the cycle to increase his holding to over 50% and offer half a cent more than the shares had traded for the day before his offer for the balance of the company, truly disgraceful behaviour. Stokes could well do the same at some point.
SWM Price at posting:
31.0¢ Sentiment: Hold Disclosure: Held
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