PH didn't buy, they were the ones he got as a result of the approved (late) acquisition sign off/conditions precedent for CF33...
I am not sure if axel exercised his 10m options for either:
- to try and fight against the upcoming vote out he saw coming, or;
- while not in the hot seat he intends to sell down... in which case, he preferred to start his 12 month cgt holding time (once options converted)...
my guess is probably both... even though axel just got another 10m on top of his 23m held already, i don't think we will see him next year in the top 20... i would be betting he'll sell a good chunk of his current 23m and hang on to the recent 10m for 12 months minimum.
Ann: Results of Meeting, page-115
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