Hi no its TGP (360 capital) - he has to disclose as a related party by virtue of his large holding in TGP. The increase is exactly the 3% allowed within the creep rules. So 32.92 %. Assuming not many outside the corporate tent take up shares - with the 3 % extra plus around 40 million added via rights they get very close to 50%. Is that a bad thing? I dont know but something seems to have changed in their stance dince I spoke to them. They are making sure they have absolute control over TOT. I still think there is value here but whether its best to own directly or via TGP I dont know. I currently have taken my investment in TOT and a small stake in TGP.. I think this makes me more convinced there is value here.
TOT Price at posting:
42.0¢ Sentiment: None Disclosure: Held
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