Without doing the appropriate research, I don't know how many more funds KAH has available.
According to their broker, Ambrian....
Kalahari has clearly stated its intent to maintain its holding in Extract at as high a level as possible; we now estimate that Kalahari has spent the majority of the recent capital raisings directly on Extract shares (£20m cash raise, £10m convertible at 212.5p). Kalahari’s investment in Extract is now worth £2.22/share on a fully-diluted basis
IMO, KAH accumulating a million since Oct 12 has exacerbated the recent weakening in the share price. By that I mean they've done pretty well to buy that many in an illiquid stock in the open market without boosting the shareprice from the $9.80 Oct 12 close! (cynicism intended)
I would suggest that when they (and others?)have finished accumulating,the share price will head north again.
PS I don't think of it as manipulation...I consider it normal market behaviour (ie do whatever it takes to buy them as cheaply as possible!)
Cheers!
EXT Price at posting:
$8.60 Sentiment: Hold Disclosure: Held
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