Thanks very much User123 for buying up the initial flood of...

Thanks very much User123 for buying up the initial flood of sales of PGH shares until Manipur got involved and thanks to Manipur for buying even huger volumes. If not for these two parties ( I’m not aware of anyone else involved at the moment ) I think RG would have easily reached 90% and compulsorily acquired the company for huge losses for many long term PACT shareholders like me who bought into the company at a much higher price.

If RG doesn’t reach 90% by expiry of the current offer ( in September I think? ) then he will need to negotiate with Manipur for the new offer price in 6+ months time when he is allowed to make a new offer. So I think his only takeover strategy is to hope there will be enough sellers over the next several months that they will exhaust the buying capacity of Manipur and User123 and anyone else buying shares so that he can reach the 10 million plus shares he needs.

In the meantime I’ve bought another big volume ( for me ) of shares today at $0.845. At worst if RG’s current takeover is successful I will only lose about $200 when he acquires them for $0.84. At best I bought more shares in a fantastic company for a bargain and I also lowered my cost base if RG eventually makes a 2nd takeover offer next year