Nice work Giz, yeah in a way, we did lose the IBC before the offer was made public. If we recalled the incidents, first, it was Michael's term of being elected as a Director. He turned up and say 'reject' to the take over bid and everyone thought they could get a better deal so
people voted for him. In December, something got through his mind (after being elected by my and everyone's recommendation and votes), he turned his face and started accepting the offer at a peanut price.
Should he act like that before the vote, even though he will be elected as Director through RG's votes but he will be on the line with other executives of getting first strike. He doesn't remember anything does he?
Having said that, I expected today or tomorrow,
a 3Y notice from RG will pop up, and please don't be afraid guys as end of yesterday, on market I only detect a 5 100 shares transaction identified to someone in WA. Other than that, I suspected the rest come from an insto's nominee account as it doesn't match anyone size. I will look on the register again this Friday.
The bunch of 19-21 shares sold yesterday could be like Giz said. I also want to add in a theory, could that be someone tried to invoke Dr Harris to buy more shares? I just think, come on man, seriously? Dr Harris and his associates and a bunch of guys up here been buying beyond the threshold limit already. Can't people stop and give us a bit of time to watch RG's plan and movement first? The one been selling those 21 shares/3 minutes can watch it too ok?
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Another point is that, as long as the majority of top 200 holders and top 3 holders maintain the volumes, we will have somewhere around 10.2%. So even if anyone having less than 14 k of shares/account, don't worry, you will be fine. I will try to keep things updated and don't forget, even by the 7th of June, the closing date, people have at least till the 21st of June to make up their minds (2 weeks allowance under the law, remember?)
So, hypothetically, if you are planning to exit because of worrying right now,
please don't.
Just say, right now, if I exit, I walk away with 84 cents/share. But even after 7th of June, and if I read the statistic and I see that there is no hope, I would put the sell on market on the 20th of June and I still get paid the same amount,
But if after 7th of June, and RG can't reach anywhere the threshold of 90%, I have 13-14 days or so to watch the price behavior and everyone's discussion before make up my mind. So, all I am saying is 14 days after the closing date is
the privilege given to shareholders that haven't made up their minds.
That said, I will keep monitor the register as best as I can and personally, if this take over fails and there is no reason for me to hit the sell button,
I am intending to keep my holding for around 2-3 more years.
(20min delay)