So on Dec 7 , 8 & 9, Jindal happy to acquire further shares to go over 15% threshold.
On Dec 17 there is a news story saying Jindal has completed due dilligence.
On Jan 4, whilst Jindal makes no comments about the due dilligence , weeks after reportedly finishing it, it matches Meijins offer of 56 cents.
In response to this annoucement the stock jumps to 46 cents upon which Jindal suddenly decide that they should be below the 15% threshold, and sells stock immediately at 46cents. Not only is the 15% threshold suddenly important, 14% is aswell, since they sell down to 13.6% stake.
Should we believe they were unaware of the significance of the 15% threshold in early December?
Add to My Watchlist
What is My Watchlist?