to summarise the latest changes in fund managers' shareholdings in RKN
Novati had 19.9% and is now at zero, selling around 22.5m shares @ 40c each
of which: Micro equities have purchased around 6m raising their stake from 7.5% to 12.8%
Spheria Asset Mang has purchased 4M shares raising their holdings from 5.3% to 8.5%
1851 Capital P/L has purchased 6.5m shares ( what a bargain entry point) having a 5.75%
All up 6+6.5+4= 16.5M shares have been declared of changing hands, still missing 6M shares from the deal could it be the majority of the shares sold on the 16th/Nov
Considering that RKN reduced debt last FY by 2.5M this sum of money can mostly be added to the Dividend annual payout, so from 2.5c can go up to 4cps fully franked. if this occurs SP will rise to around 80cps this in itself will double the ROI for these 3 Assets Mang, within less than a year.
Good luck to all SH
RKN Price at posting:
54.5¢ Sentiment: Buy Disclosure: Held
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