Ann: Kerogen Shareholding Update, page-16

DE I'm not so sure that the shares they are buying are the ones under the Gleneagles agreement. The reference to "creep" suggests they are referring to the laws which allow a major shareholder in a public company to buy 3% of the issued shares per year without being forced to launch an on market takeover. From memory a company would normally be required to launch a takeover if they increase shareholding over 15% (but don't quote me on it).

i still think that this move is a positive for shareholders in the short term but not so sure that it will be good in the long term. I think the thing that will help us little guys is that there are 3 other major shareholders who will be a bit of an obstacle for Kerogen if they try to take it over on the cheap. They are Paul Fudge, amalgamated Dairies and Coupland Cardiff (or whoever now owns their stake if they did actually sell recently). All have a buy price at approx double the current share price so would not be supportive of a TO at the current price.

maybe they are just seeing too many positive things happening at present and have decided that AJL is good alum at 70c. After all Ivor Orchard is on the Cuadrilla bod so if anyone knows what's going on he does.