I think the problem with SBM having so many shares was risk that SBM would sell into any good news and dampen the SP. SBM sold all their Leonora assets to GMD except the KIN holding, so SBM no longer had a good reason to hold KIN (PTN) shares. They were clearly going to exit at some point.
A substantial buy back and getting rid of SBM from the register is a very good deal I think. Well done JI.
Ann: Patronus to buyback 9.66% of share register, page-7
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