CYP Trading - post Fuji validation, page-203

I think its worth keeping an eye on changes in short position on CYP.

I was watching KDR pretty closely whilst WES was seeking, ultimately successfully, to take it over via a scheme of arrangement and UBS was interesting because.

1) UBS had been involved in shorting KDR (I don't know to what extent - but it definitely was shorting through some of its subsidiaries - it may not have been an overall group position) prior to the scheme of arrangement becoming public.

2) After the scheme became public knowledge UBS declared an initial substantial interest of over 5% and then increased it to over 6%

3) In the actual vote on whether to accept the scheme over about 95% voted yes - a figure that wouldn't have been possible if UBS had directed their 6% to vote no.

Taken together these points don't prove that UBS intended to help WES reduce the price of KDR prior to a bid - but the effect of their actions (shorting prior to the bid) would have been that way regardless of what they intended.

@sigmadelta

This report comes out daily I believe I hadn't used it in a long time but dug it out of my bookmarks -it shows no CYP shorting yesterday - also which fits with your observation.

https://www.asx.com.au/data/shortsell.txt