So firstmac has moved to 20% paying 70c for the bulk of that. Non exec directors have basically exited except 1 dude retaining 4m units. RMC holds 7%. I am pretty sure firstmac is larger than RMC. Firstmac sees value here, but the odd market seller doesnt. Havent really ever seen such a large disconnect before in a listed stock, people where happy to sell at 40%% discount to that cross yesterday. I wonder what the discount will be today.
Not entirely sure what the deal is here. I am surprised that firstmac didnt just lodge a takeover for 70c pretty sure most people would have accepted and then they can take it private.
BBC Price at posting:
43.0¢ Sentiment: None Disclosure: Held
