Ann: Percheron to launch Share Purchase Plan, page-49

Deano et-al
I have been mulling and thinking aloud over the last few days encompassing a glad back of questions to myself. In no particular order.

Let’s be mindful that 45% of the proposed $15m CR / SPP is subject to SH approval. That’s a lot. Only $8m worth comes onto market Thur. Are all the SH - Regal, Diamond & other majors gonna be on the same page with the 2nd tranche? Dunno - no idea.

What is the market psychology & current activity of those that have been assured the 2nd tranche. Are they currently sitting on their hands assuming it will be passed? The same for those eligible to partake in SPP? Dunno - no idea.

Will there be brakes on any SP appreciation in the lead up to results because of this overhang? We all hope there will a steady rise in the lead up to results. Will any appreciation not begin until there is some clarity around the vote? Dunno - no idea

I assume that within 5 days or so we will see a change in substantial holding in respect of Regal (from memory they hold a touch over 5%). This notice should show their loss of interest like we have been diluted. It will also be intuitive as to whether like us they have bought to make up their dilution but also whether they have sold on MKt to look away gains on the 5c raise. Has their overall SH % increased I wonder?

I wonder whether or not Regal we’re blindsided by the CR. I suspect not but again curious to know.

Are Cancorrd likely to be holders in their own right (can they be?) or will they have farmed out to all their sophs? I wonder what the allocational split between assured & subject to SH approval was?

Anyway just some 3am musings.