A Substantial Shareholder Notice has been lodged by a shareholder advising it sold 1,034,753 shares on 7th Sep'22 for an average price of $3.68 if you use a 69 cents USD/AUD exchange rate.
That was on Wednesday of this week with Commsec reporting that 249,290 shares were traded on that day, which I think includes Chi-X volumes.
And on that day one large order was traded for 180,000 shares at $3.60 I had thought that Wednesday's trading was a bit odd and very out of character for SRV given its recent trading patterns.
So I ask (speculate) is SRV in play? It would appear that about 800,000 shares have been sold off market. Is there a investor lurking and building up a substantial holding? And I ask this as it was SRV at its results announcement that gave very strong forward NPAT guidance for FY'23 at $41 million NPAT.
This company is an extremely strong operating cash generator and I wouldn't be surprised if its not on the radar of a potential acquirer.
Cheers.....D
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